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Sri Lanka ranked 107 in ease of doing business index 2016
Oct 28, 2015 (LBO) – Sri Lanka was ranked 107 in the World Bank’s “Doing Business 2016” index, which measures the ease of doing business in 189 different countries, a report released by the bank on Tuesday revealed.Sri Lanka ranked 107th out of 189 countries in terms of ease of doing business for 2016.It was […]
Sri Lanka Watawala Plantation profits up; palm oil supports bottom-line
Oct 28, 2015 (LBO) – Sri Lanka’s Watawala Plantations said it made a profit of 141 million rupees in the September 2015 quarter, up 354 percent, compared with 31 million rupees in the same quarter last year, supported by palm oil segment. The firm reported earnings of 55 cents per share for the quarter, the […]
‘s CCC, Japan Kansai to promote trade and investment
Oct 28, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) signed an ‘Agreement of Cooperation’ to promote two way commercial ties with Japan’s Kansai Economic Federation, a statement said. “It enables both sides to exchange information on economic and business trends in the two countries, cooperate in trade, investment, environment conservation and energy-saving […]
Over 60 pct of World Economies Improved Business Rules: WB
Oct 28, 2015 (LBO) – Developing economies quickened the pace of their business reforms during the last 12 months to make it easier for local businesses to start and operate, says the World Bank Group’s annual ease of doing business measurement. “A modern economy cannot function without regulation and, at the same time, it can […]
Sri Lanka raises USD1.5bn in Sovereign Bond issue: report
Oct 28, 2015 (LBO) – Sri Lanka has raised 1.5 billion dollars from a 10-year sovereign bond issued to international investors at 6.85 percent, a report said. The initial price guidance of 7 percent was lowered with order books exceeding 3.3 billion dollars. In May, Sri Lanka raised 650 million dollars via a 10-year sovereign […]
Sri Lanka’s rupee is way over sold, says technical analyst
Oct 28, 2015 (LBO) -Sri Lanka’s rupee which was floated in September is way over sold and won’t depreciate further, an analyst said. “The LKR has depreciated quite a bit in last 18 months. The effects may already be visible in your exports.But is it going to depreciate further?I don’t think so,” Akshay Chinchalkar, head […]
Sri Lanka 10-year sovereign bond gets orders over USD2.5 bn: report
Oct 27, 2015 (LBO) – Sri Lanka has opened a 10-year sovereign bond issue to international investors with a price guidance of 6.85 percent to raise at least 500 million dollars, media reports said. The initial price guidance of 7 percent was lowered with order books exceeding 2.5 billion dollars. In a statement on Tuesday […]
Interview: Creating a tech ecosystem essential for Sri Lanka IT, says Manoj Ranaweera
Oct 27, 2015 (LBO) – Building a tech ecosystem is crucial for a thriving IT sector, according to a Sri-Lankan born entrepreneur. Manoj Ranaweera was a key architect behind the ecosystem put in place in Manchester between 2006 and 2013.Through 100 events he rallied together over 2,000 entrepreneurs, investors, deal makers and senior managers of […]
Blog: Capitalism does not self correct towards equality, says Bill Gates
Oct 27, 2015 – (LBO) – Bill Gates, in a recent blog, reviewing Thomas Piketty’s book Capital in the Twenty-First Century, says capitalism does not self correct towards equality — a review that sounds remarkably socialist in orientation. He agrees with Piketty that: 1) High levels of inequality are a problem—messing up economic incentives, tilting […]
At treasury bond auction Rs45.4 bn bids accepted
Oct 26, 2015 (LBO) – Sri Lanka’s Treasury bond auction on Monday for 30 billion rupees in bonds received bids amounting to 129.7 billion rupees. The Central Bank accepted 45.4 billion rupees worth of bids. Bonds maturing on 15 September 2019 received 32.5 billion rupees in bids for seven billion rupees in bonds on offer. […]
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Oct 26,2015 (LBO) – Fitch Ratings has assigned Sri Lanka’s Sampath Bank PLC’s Base lI-compliant subordinated debentures of up to seven billion rupees , a final National Long-Term Rating of ‘A(lka)’.The final rating is the same as the expected rating assigned on 9 October 2015, and follows the receipt of documents conforming to information already received, the rating […]
SPIKE – Meetup for Sri Lanka’s Tech Startup Ecosystem
Sri Lanka’s tech startup ecosystem is small but slowly gathering momentum.Over the past year, a monthly meetup called SPIKE Night has been the regular meeting point for startup entrepreneurs and others from the tech ecosystem. Unlike more formal events, SPIKE is intentionally casual.It’s a meetup where where tech startups and entrepreneurs get an opportunity to […]