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Sri Lanka’s budget 2016 will make life easy for all: Ravi K
Nov 05, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake has said that the upcoming budget 2016 will make ordinary people’s life easy, especially the fixed wage earners.But 60 percent of the affluent class are not paying taxes. Accordingly, the economy needs to be properly structured, reformed and strengthened, Karunanayake said. The Budget 2016 […]
Sri Lanka targets budget deficit of 3.5-pct of GDP by 2020
Nov 05, 2015 (LBO) – Sri Lanka wants to reduce the budget deficit to 3.5 percent of gross national production in the medium term by 2020, the Prime Minister said.Prime Minister Ranil Wickremesinghe made this statement in Parliament a short while ago while presenting the new governments medium term economic framework. The Finance Minister Ravi […]
Aitken Spence to buy 20-pct stake in Fiji Ports Corporation
Nov 05, 2015 (LBO) – Sri Lanka’s diversified conglomerate Aitken Spence and Fiji National Provident Fund is planning to buy 59 percent stake in Fiji Ports Corporation, Aitken Spence said in a stock exchange filing.An agreement has been signed with the Fiji government to acquire the corporation, an entity wholly owned by the government which […]
New Zealand business delegates meet local Corporate heads
Innovative New Zealand businesses who visited Colombo this week to continue forging business and trade links with Sri Lanka, met with Sri Lankan business heads at a reception hosted by HE Grahame Morton, High Commissioner to India, Sri Lanka, Bangladesh and Nepal at the Taj Samudra. Seventeen New Zealand companies from a range of industries […]
Sri Lanka stocks close up 0.2-pct: Blue chip gains
Nov 05, 2015 (LBO) – Sri Lankan stocks closed up at 0.20 percent on Thursday following a policy statement by the Prime Minister in the afternoon with gains in blue chip stocks, brokers said. The Colombo benchmark All Share Price Index closed up 13.82 points at 7,017.39 higher 0.20 percent. S&P SL20 closed 8.18 points […]
PTL Watch: Yields drop on mid to long tenor bonds
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Infrastructure: Colombo needs innovation to be globally competitive, says IT Innovator
Nov 05, 2015 (LBO) – Sri Lanka needs innovation to engage Colombo with the rest of the world and to transform legacy assets through the digital medium, an IT innovator and self-labelled urban policy nerd said.J T Singh, founder of a design-centric problem solving team at J T Singh Labs, said a key factor in […]
Public investment in bus, railway a priority before monorail, says transport experts
Nov 05, 2015 (LBO) – From an economic standpoint, Sri Lanka should first develop its bus and railway transportation before spending public money on more expensive monorail, transport sector experts said at the LBR LBO Infrastructure Summit. A Japanese transportation master plan for Colombo, upgraded and approved by University of Moratuwa, envisaged three alternatives for […]
Sri Lanka’s Sampath Bank to raise Rs7bn from listed debenture
Nov 04, 2015 (LBO) – Sri Lanka’s Sampath Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue 50 million debentures at 100 rupees each with an option, to issue up to a further 20 million debentures in the event of […]
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Minister of Plantation Industries Honorable Navin Dissanayake visited the Colombo Tea Auction on Wednesday, as the world’s largest single origin tea auction saw more activity as the global tea prices have started to recover, after a recent slump experienced. Minister Dissanayake, who was accompanied by the Sri Lanka Tea Board Chairman Mr.Rohan Pethiyagoda and the […]