Category:
Asia Securities says S&P telecoms report on Sri Lanka unjustified
Sep 04,2015 (LBO) – Sri Lanka’s Asia Securities says it is bullish on the Sri Lanka telecommunication sector even though a recently released report by Standard & Poor’s ratings agency sees telecom regulatory risk in Sri Lanka as high. S&P highlighted that they see a high regulatory risk in Sri Lanka with regulatory disruptions such […]
‘s growing religious tourism market
Sep 4, 2015 (LBO) – Sri Lanka tourism promotion bureau said that it plans to tap China’s growing religious tourists as almost 85 percent of the people in China hold some religious belief or practice some kind of religion according to Chinese spiritual life survey conducted in 2012 by the Beijing-based Horizon Research Consultancy Group. […]
EU Observation Mission distributes equipment to Sri Lankan civil society
On its way to concluding the EU EOM to Sri Lanka which witnessed a well administered 2015 Parliamentary elections, the EU EOM on 3 September distributed a wide variety of equipment to Sri Lankan civil society members.Accepting that civil society must be able to relay and receive information in an effective manner, not only during emergency operations but […]
Sri Lanka’s Parliament approves bigger cabinet
Sep 03, 2015 (LBO) – Sri Lanka’s Parliament approved a proposal to increase the number of ministers and deputy ministers in national government, a short while ago. 143 voted in favor of the proposal and 16 against; 63 Parliamentarians were absent during the vote. JVP voted against while TNA was absent at the voting. The […]
Sri Lanka Cricket Head Coach Marvan Atapattu resigns
Sep 03, 2015 (LBO) – Sri Lanka Cricket has accepted the resignation of Marvan Atapattu from the post of Head Coach of the Sri Lanka Cricket Team.“Sri Lanka Cricket thanks Atapattu for his efforts as Head Coach and Batting Coach of the Sri Lanka Cricket Team, and we wish him every success in all his […]
Fitch Maintains Ceylon Income Fund on Rating Watch Negative
Sep 03, 2015 (LBO) -Fitch Ratings said it has maintained the ‘(A(lka))’ National Fund Credit Quality Rating of the Ceylon Income Fund on Rating Watch Negative(RWN) due to an increase in proportion of assets rated by another rating agency after redemptions. “The maintenance of the RWN is driven by an increase in the proportion of […]
Sri Lanka stocks close higher 0.07-pct, net foreign outflow
Sep 03, 2015 (LBO) – Sri Lankan stocks closed higher 0.07 percent on Thursday after three days of losses with index heavy stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed higher 5.11 points at 7,245.50 higher 0.07 percent. S&P SL20 closed 1.06 points higher at 3,978.84 down 0.03 percent. “We […]
Eden Hotel Lanka to raise Rs1.05bn through rights issue
Sep 03, 2015 (LBO) – Eden Hotel Lanka, a leisure sector player is to raise 1.05 billion rupees by way of a rights issue, the company said in a stock exchange filing. Subject to the necessary approvals, the company is to issue 52.8 million ordinary shares at 20 rupees each in the ratio of one […]
Sri Lanka to receive USD1.1 bn under RBI swap arrangement: Central Bank Governor
Sept 03, 2015 (LBO) – Sri Lanka will receive the balance 1.1 billion dollars from the Reserve Bank of India to boost foreign reserves under a 1.5 billion dollar swap arrangement, the Central Bank Governor Arjuna Mahendran confirmed to Lanka Business Online. On April 30th, Sri Lanka obtained 400 million dollars under this arrangement, which […]
Sri Lanka gearing up for period of continuous growth: Softlogic Stockbrokers
Sep 03, 2015 (LBO) – Sri Lanka is heading into a decisive phase and we expect continuous growth in the island for the next few years through consistent government policy, a senior stockbroker said.“I think this is a critical phase for the country and we are looking at a new horizon,” Dihan Dedigama, Chief Executive […]
Sri Lanka govt must be consistent, speak with one voice: Pathfinder Foundation
Sep 03, 2015 (LBO) – Sri Lankan think tank Pathfinder Foundation urged the new national unity government to speak with one voice on necessary, urgent economic reforms and “operate in a well-coordinated and consistent manner.” “The new government, which, has committed to operate in a consensual spirit (sammuthi vaadi), needs to speak with one voice […]
Speaker declares ITAK leader Sampanthan as opposition leader in Parliament
Sep 03, 2015 (LBO) – Speaker Karu Jayasuriya has declared ITAK group leader R.Sampanthan as the opposition leader of the 8th Parliament.The speaker reveled Parliament that the UPFA has not forwarded any name for the post of the opposition leader. Meanwhile the motion to increase the Cabinet Ministerial posts up to 48 is to be […]