Category:
Empty lands to be taken for food production: President
Oct 05, 2015 (LBO) – Private and state owned lands which have not been cultivated will be used for food production in the future, President Maithripala Sirisena emphasized. President Sirisena stated that it is a shame to import food from foreign countries for consumption when there is an ability to produce every food within the […]
Sri Lanka stocks close down 0.23-pct: Two week low
Oct 05, 2015 (LBO) – Sri Lankan stocks closed down 0.23 percent on Monday with losses in tobacco and beverage stocks following the government increasing the excise duty on cigarettes and liquor with effect from Saturday (03), brokers said. The Colombo benchmark All Share Price Index closed down 16.48 points at 7,089.06 lower 0.23 percent. […]
PTL Watch: Little activity, selling in 6-yr and 13-yr bonds
[pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/10/ptl-watch-3-05.10.2015-1.pdf%22]
SriLankan flights on-time performance among top 16 airlines
Oct 05, 2015 (LBO) – SriLankan Airlines’s flights on-time performance in August has been ranked 16 out of 50 international airlines rated by a global flight data service. The Airline has recorded an on-time performance of 85.26 percent of its flights in August 2015 and not far off that of the 91.48 percent of first […]
Finance Minister aims to increase annual aid from IMF, WB
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake who left the island to attend the 2015 Annual Meetings of the World Bank Group and the IMF is currently aiming at increasing annual aid to Sri Lanka.Sri Lanka receives long term aid of 400 million US Dollars annually from these two institutions, the Finance […]
Sampath Bank to raise Rs7bn from listed debenture
Oct 05, 2015 (LBO) – Sri Lanka’s commercial bank sector player Sampath Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. Sampath Bank has decided to issue 50 million debentures at 100 rupees each with an option, to issue up to a further 20 […]
Sri Lanka’s LAUGFS acquires USD6mn LPG ship
Oct 05, 2015 (LBO) – Sri Lanka’s LAUGFS Maritime Services, a logistic arm of LAUGFS Gas PLC, said it acquired their second LPG ship to provide logistic support for the growing LPG demand in the country. This second acquisition was made with a total expected investment of USD 6 million, is named as MT ”Gas […]
Analysis: Sri Lanka foreign reserve dilemma hinges on Central Bank objectives
Oct 05, 2015 (LBO) – Acting quicker than it did in early 2012, the decision by Sri Lanka’s Central Bank to give up defending the rupee in September of this year bodes well for a quicker recovery of foreign exchange reserves. But enamored with an additional objective of economic development, that goes beyond financial and […]
Opinion: Consuming GMOs is least of our problems
Oct 04, 2015 (LBO) – For a sector so essential to Sri Lanka, it seems the public understanding of agriculture is rather poor. This may be why we have lagged behind other Asian countries in terms of crop productivity. One sign of this — almost all vegetable seeds are now imported. Agriculture experts have watched […]
Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]
Central Bank to sell USD 75mn worth of development bonds
Oct 05, 2015 (LBO) – The Central Bank will issue 75 million US dollars of development bonds of one year, three years and three months, and four years and eight months to local and foreign investors.The Debt Department said the subscription will be at a rate of US dollar six month LIBOR plus a margin […]
Sri Lanka’s growth to increase to 5.6-pct in 2016: World Bank
Oct 05, 2015 (LBO) – Sri Lanka’s growth is expected to increase to 5.6 percent in 2016 with the increase in state sector workers and disposable income, a World Bank report said. “In Sri Lanka growth is expected increase to 5.6 percent due to higher public sector wages and higher disposable incomes,” the report said. […]