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We need a political strategy to empower state enterprises, reduce tax payer burden: Eran
Oct 30, 2015 (LBO) – Sri Lanka needs to have a political strategy to support the implementation of reforms and restructurings of state owned enterprises to reduce the burden on the treasury or the tax payer, deputy minister of state owned enterprises (SOEs) said.“We have a situation in which the tax payer at large is paying […]
Sri Lanka stocks close down 0.3-pct: Net foreign out flow 319mn
Oct 29, 2015 (LBO) – Sri Lankan stocks closed down at 0.34 percent on Thursday with losses in index heavy stocks after a two week high, brokers said. The Colombo benchmark All Share Price Index closed down 23.96 points at 7,070.13 lower 0.34 percent. S&P SL20 closed 12.11 points lower at 3,827.89 down 0.32 percent. […]
Sri Lanka to obtain arid climate resistant fruit species from Egypt
Oct 29, 2015 (LBO) – Sri Lanka will enter into a memorandum of understanding between the ministry of agriculture of Sri Lanka and the ministry of agriculture and land reclamation of Egypt to obtain arid climate resistant fruit species, particularly planting materiel of orange species, along with the technology applicable. Accordingly it has been planned […]
Indira, the first woman Chair of Lanka exports
The first woman to lead Sri Lankan exports took the helm of country’s apex export facilitator EDB on 29 October. “I am very confident of making a positive contribution to the export effort of our country” said Indira Malwatte (new Chairperson & CEO of EDB) on 29 October in Colombo. New EDB Chairperson Malwatte said […]
Trillion lead manages Sri Lanka’s first ‘Green’ Asset Backed Securitization
Trillion Investments Limited (Trillion), a licensed investment manager, regulated by the Securities and Exchange Commission of Sri Lanka, advised and lead managed Sri Lanka’s first “green” asset backed securitization. Pan Asia Banking Corporation PLC (Pan Asia Bank), who is making a concerted effort to positively contribute to reducing carbon footprint in Sri Lanka, fully subscribed […]
Sri Lanka extends local and foreign expert services on Megapolis for five months
Oct 29, 2015 (LBO) – Sri Lanka has extended the local and foreign consultancy services on the Capital Colombo’s Megapolis project by five months, Cabinet Spokesperson and Mass Media Minister Gayantha Karunathilaka said.The government hired Surbana/ CESMA International, a part of Singapore’s state-run Housing Development Corporation, for a sum of 35 million rupees, to design […]
PTL Watch: Slight tick upwards in yields on profit taking
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Bank of Tokyo Mitsubishi to set up a rep office, ease Japanese investment
Oct 29, 2015 (LBO) – The Bank of Tokyo Mitsubishi UFG Ltd (BTMU) formally announced that it will be opening a new representative office in Sri Lanka at the end of March 2016, subject to regulatory approval in Japan, Board of Investment said in a release. This initiative plans to facilitate investment by Japanese companies […]
Mangala meets US Ambassador-at-Large for Global Women’s Issues
U.S Ambassador-at-Large for Global Women’s Issues, Catherine Russell, is visiting Sri Lanka from 27th -29th October 2015. During her visit, Ambassador Russell met with Hon.Mangala Samaraweera, Minister of Foreign Affairs on 28th October.Ambassador Russell also held talks with Hon. Chandrani Bandara, Minister of Women and Children’s Affairs.Ambassador Russell will discuss strategies to advance women’s economic […]
90-pct vehicle leasing facility to come into effect today
Oct 29, 2015 (LBO) – Sri Lanka’s Finance Ministry said that a 90 percent loan margin of leasing facility for motor vehicles will come into effect from Thursday.An official notice will be sent out to the government and private financial institutions today, the ministry said.From September 15, 2015, the 100 percent loan to value was limited […]
Browns Capital invest Rs407mn in Sri Lanka’s solar power plant
Oct 29, 2015 (LBO) – Browns Capital PLC had invested 407 million rupees in Saga Solar power private limited who are in the business of solar power to acquire a 50.10 percent equity, the company said in a filing to Colombo Stock Exchange.The firm said it bought 38.7 million shares of Saga Solar Power, who […]