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Sri Lanka capital to have International Financial Centre
Nov 20, 2015 (LBO) – Sri Lanka’s government will make an international financial centre in Colombo, Finance Minister Ravi Karunanayake said while delivering the budget 2016 speech.A “Colombo International Financial Centre (CIFC)”, a specific zone along the lines of Dubai’s International Financial Centre will begin operations on DR Wijewardene Mawatha, he said. “Our geographical location in […]
Sri Lanka to allow tea imports within regulatory framework: Fin Min
Nov 20, 2015 (LBO) – Sri Lanka plans to liberalize the tea industry through allowing tea to be imported into the country within a regulatory framework, Finance Minister Ravi Karunanayake said delivering the budget 2016 speech at the Parliament. “Tea has remained a key export of our country but the value addition is not as significant […]
Budget 2016 Coverage – Proposals and Full Speech
Nov 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake commences the 2016 budget speech in Parliament. Key points: Proposals Micro, small and medium enterprises – Micro, small and medium enterprises find it hard to raise equity and debt financing with reluctance of financial institutions to lend to them. Advisory committee to develop SME […]
PTL Watch: Lower foreign holding for bonds in budget
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Lack of direct competition between Sri Lanka ports an issue: Eran
Nov 20, 2015 (LBO) – Sri Lanka must explore the issue that led to the inadequate direct competition of Ports Authority controlled ports, a deputy minister said. Delivering the keynote speech at the CILT International Conference 2015, Deputy Minister of State Owned Enterprises Eran Wickramaratne said direct competition is a critical factor for efficiency.“Lack of […]
Sri Lanka to increase bursary payment for university students
Nov 20, 2015 (LBO) – Sri Lanka’s Higher Education and Highways Ministry has taken steps to minimize the gap between Mahapola Scholarship holders and bursary payment holders by increasing the monthly bursary payment from 2,500 rupees to 4,000 rupees to enable university students to continue their studies without any economic difficulties, media spokesman said. Approximately, […]
Security tightened in major European cities
Nov 20, 2015 (LBO) – Security has been tightened in major cities in Europe with police in Italy and Sweden looking for suspected militants and increasing security around public buildings, media reports said.Swedish police arrested a man suspected of planning an attack, while Italy’s foreign minister said St.Peter’s Basilica in Rome or the cathedral or […]
Google makes traffic congestion maps available for Sri Lanka
Nov 19, 2015 (LBO) – Google Maps has activated traffic information for Sri Lanka with useful congestion data for Colombo and other locations, an IT observer said. The maps are available for any location where there is mobile data and slow-moving traffic, Malinthe Samarakoon, a developer for yamu. lk said. Available on Google maps for […]
Super luxury passenger cruiser MV Mein Schiff calls Colombo
MV Mein Schiff 1, a Century class cruise ship, owned and operated by TUI Cruises, arrived in Colombo yesterday. Having sailed from Mumbai on 15th November, she berthed at the Unity Container Terminal of Sri Lanka Ports Authority (SLPA) at 0700 Hrs, last morning. Built at Meyer Werft shipyard in Papenburg, Germany, the vessel has […]
Wake up call for business community tomorrow: Finance Minister
Nov 19, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake on Thursday pledged business community that the 2017 budget will be a wake-up call for all businesses.“You are in safe hands now, you made that decision on January 8th and I’m sure you’ll see risk free dividends will be given tomorrow and with that […]
Sri Lanka stocks close up 0.5-pct: JKH gains
Nov 19, 2015 (LBO) – Sri Lankan stocks closed up at 0.55 percent on Thursday with gains in John Keells Holdings and some banking and finance sector stocks, brokers said. The Colombo benchmark All Share Price Index closed up 38.21 points at 7,020.18 up 0.55 percent. S&P SL20 closed 31.13 points higher at 3,795.35 up […]
Seylan Bank Annual Report wins top awards at ARC Competition
The Seylan Bank 2014 Annual Report ‘It’s A Beautiful Performance’ won Gold, Silver & Bronze Awards at the recently concluded ARC International Awards and League of American Communications Professionals (LACP) Vision Awards. The Bank’s 2014 Annual Report won ‘Gold’ & ‘Bronze’ Awards in the Banking Category at the ARC International Awards held recently. ARC Awards […]