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Sri Lanka stocks close lower 0.05-pct ahead of monetary policy review
Oct 19, 2015 (LBO) – Sri Lankan stocks closed down on Monday for a fifth consecutive day ahead of the governments monetary policy review, brokers said. The Colombo benchmark All Share Price Index closed lower 3.39 points at 7,017.35 down 0.05 percent. S&P SL20 closed 9.56 points lower at 3,783.27 lower 0.25 percent. Turnover was 1.2 […]
PTL Watch: Bond yields edge up amid more foreign selling
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Sri Lanka to build a monorail, calls for proposals this month: BOI Chief
Oct 19, 2015 (LBO) – Sri Lanka’s investment promotion bureau said that the government plans to make a request for proposals this month to build a monorail or mass rapid transit system (MRT) that spreads out from Colombo Fort.“RFPs for the monorail project will be out within a week,” Upul Jayasuriya, chairman of the Board […]
Reveal nominees to independent commissions before 7 days: Civil Society
Oct 19, 2015 (LBO) – A group of civil society activists comprising of lawyers and other professionals have requested the government to declare nominations to independent commissions before their appointments.Attorneys Srinath Perera, Neville Ananda, Sujeewa Dahanayake with social activist Muditha Karunamuni, trade union leader Anton Marcus and journalist Kusal Perera comprised of this group. These […]
Insufficient road capacity, reason behind car import restrictions: PM
Oct 19, 2015 (LBO) – Sri Lanka’s recent restrictions imposed on car imports were a response to the insufficient capacity of roads, Prime Minister Ranil Wickremesinghe said.In an interview with Singapore’s ‘Straits Times’, Wickremesinghe said currently it takes too long coming into Colombo. “The restrictions on car imports put in place recently were because police […]
CSE to promote Sri Lanka with Zurich, London roadshows this month
Oct 19, 2015 (LBO) – The Colombo Stock Exchange will promote the Sri Lankan market with two roadshows in Zurich and London this month. A breakfast meeting in Zurich on October 28 and an investor forum in London on October 29-30 will have representatives of Sri Lankan brokerages and the financial sector with the attendance […]
China slowdown, foreign funding risks intensify for APAC economies: Fitch
Oct 19, 2015 (LBO) – Macroeconomic risks to the Asia-Pacific (APAC) region have intensified with Fed tightening cycle and a protracted China slowdown, Fitch ratings said in a statement. “A sharper-than-expected slowdown in China’s economy is likely to have broad-based negative implications for global and regional issuers,” the latest edition of Fitch Ratings APAC Risk Radar […]
Infrastructure: Megapolis needs to overcome several challenges, says Champika
Oct 19 2015, (LBO) – The Minister for Megapolis Champika Ranawaka says that if the Megapolis mega development project is to be successful then it must address several social, environmental and economic obstacles that lie ahead. “One is the social problem where we have over 100,000 slum dwellers in the Western Province,” he said speaking […]
GAAM crosses Rs5 bn mark in assets under management
Guardian Acuity Asset Management Ltd, which manages three unit trusts, passed an important milestone in its short history when it crossed the Rs 5 billion mark in assets under management (AUM) in early October this year. The firm which was recognised as the “Best new asset management company in Sri Lanka 2014” by the prestigious […]
Avant Garde issues statement on its red sea floating armory
Oct 17, 2015 (LBO) – Avant Garde Maritime Services Ltd has issued a statement to the media on its floating armory which was the subject of a magisterial inquiry. In September, a magisterial inquiry into a floating armory of Avant Garde Maritime Services ended after the Criminal Investigation Department said it would not proceed with […]