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CBSL accepts highest amount of bids in a T-bill auction in 5 months
Oct 21, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up with highest amount of bids in a Treasury bill auction in over five months at Wednesday’s auction, data from the state debt office showed. The 3-month yield was down 6.71 percent with bids amounting to 28.8 billion rupees being received and it was […]
Sri Lanka’s Finlays unit to delist
Oct 21, 2015 (LBO) – Sri Lanka’s Finlays, a tea exporter said it plans to delist its ordinary shares from the Colombo Stock Exchange, a statement said. “James Finlay of Swire House, London will302 rupees a share,” the company said in a stock exchange filing. The decision is subject to regulatory approval. The Company’s shares […]
Dialog, BOI in Rs24 bn investment to improve ICT infrastructure
Oct 21, 2015 (LBO) – Dialog Axiata Plc entered into an agreement with Board of Investment of Sri Lanka to invest 25.6 billion rupees or 175 million US dollars to improve the island’s ICT infrastructure, the company said in a filing to the Colombo Stock Exchange.The investment agreements span a broad scope of ICT infrastructure […]
Sri Lanka to tighten mandatory imprisonment for rapes and child abuses
Oct 21, 2015 (LBO) – Sri Lanka is to amend the penal code to tighten the mandatory imprisonment for the offenders of rapes and child abuses, Prison Reforms Minister Thilak Marapana said. According to government statistics 311 rape and 5,762 child abuse cases have been reported in the year 2014.Even though under the existing penal […]
Worker wages with revenue share is only solution: Plantation Companies
Oct 21, 2015 (LBO) – Sri Lanka Regional Plantation Companies (RPCs) have come up with a model for the pressing wage problem of plantation workers and recommend a revenue sharing model for remuneration, a statement said. “The revenue sharing model is now clearly the only viable, mutually beneficial and sustainable solution for the country’s plantation […]
PTL Watch: Volatility on short to mid term bond maturities
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Strengthening institutions, policy interaction needed: Saman Kelegama
Oct 21, 2015 (LBO) – Sri Lanka can achieve greater economic progress with a reforms agenda which strengthens interactions between institutions, policy processes, the head of the Institute of Policy Studies (IPS) said.“The agenda setting for reforms must begin with attempts to strengthen interactions between institutions, policy processes and policy outcomes,” Saman Kelegama, executive director […]
Sri Lanka’s Vallibel One to go ahead with USD60mn integrated resort project
Oct 21, 2015 (LBO) – The leisure investment arm of Vallibel One, Greener Water limited is to continue with its project to construct a 400-roomed luxury five star resort in Negombo in its 18 acres of freehold land.The company has entered into an agreement with the Board of Investment of Sri Lanka in relation to […]
Sri Lanka parliament approves borrowing increase, taxes
Oct 21, 2015 (LBO) – Sri Lanka’s parliament has approved raising the ceiling on treasury bill borrowing by 400 billion rupees to finance a higher budget deficit.The parliament also passed a series income, value added, nation building, gaming and broadcast taxes proposed in the last budget to raise government revenue by around 60 billion rupees.The […]
Sri Lanka to face tough challenges in adjusting economic reforms: Eran
Oct 21, 2015 (LBO) – Sri Lanka’s new administration is facing a lot of internal and external challenges with the economy received from the former regime and it will take a longer period to adjust policy and economic reforms, Eran Wickramaratne, deputy minister of state enterprise development, said. “As you know the new government faces […]
Sri Lanka needs a proper development policy: German ambassador
Oct 21, 2015 (LBO) – Sri Lanka’s full potential can be achieved if the new government can come up with a proper economic policy framework for the island, the German ambassador said. “Politically the country has opened a new chapter, but the full potential has not been reached yet,” Juergen Morhard, German ambassador to […]
DHL Express celebrates 35 years in Sri Lanka
DHL Express, the world’s leading international express services provider, marks 35 years of operations in Sri Lanka this year.DHL Express entered the Sri Lanka market in 1980 as the pioneering logistics company in the country. Today, the company records a dominant market share, meeting the shipping and business needs across an array of industries in […]