Tag: lbo
Dollar edges away from 13-year peak, Asian stocks slip
TOKYO, Nov 17 (Reuters) – The dollar edged away from a 13-year peak on Thursday, following an easing of the week-long surge in Treasury yields that was fuelled by hopes for the Trump administration’s economic policies, and Asian stocks slipped on Wall Street’s overnight dip. The dollar index, which measures the greenback’s strength against […]
Sri Lanka planters warn on land redistribution budget proposals
Nov 16, 2016 (LBO) – The Planters’ Association of Ceylon (PA) said it has serious reservations as to the feasibility and potential impact of recent budget proposals on Sri Lanka’s plantation industry, a statement said. Sri Lanka’s budget 2017 proposed for a reduction in the maximum acreage that can be held by any stand-alone plantation […]
Sri Lanka revenue reform a step toward stronger finances: Fitch
Nov 16, 2016 (LBO) – Sri Lanka’s budget 2017 proposed tax hikes will strengthen the revenue base although some of the revenue assumptions look optimistic and pose risks to projections, the Fitch rating agency said. “Sri Lanka’s budget for 2017 is broadly in line with the targets set out under its IMF programme, and contains […]
Access Engineering PLC opens trading at CSE
(PRESS RELEASE) – Access Engineering PLC (Access)rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) today. The Bell Ringing ceremony was organized by the CSE as part of a series featuring companies included on the S&P Sri Lanka 20 Index. Sharing his remarks at the ceremony, Chairman of CSE Mr. Vajira […]
EU-Sri Lanka launch EUR 8mn project for SME trade competitiveness
Nov 16, 2016 (LBO) – The European Union has launched a 8 million euro project that will help Sri Lanka increase its small and medium enterprise trade competitiveness in regional and European markets. “This project has been jointly designed with the Government of Sri Lanka, and brings together policymakers, government agencies, business leaders, chambers of […]
Janashakthi reports Profit Before Tax of Rs.894 million in nine months ended 30th September
(PRESS RELEASE) – Janashakthi Insurance PLC (Janashakthi) reported a consolidated Profit Before Tax (PBT) of Rs.894 million for the nine months ended 30th September 2016, a remarkable growth of 131% over the same period in 2015. Consolidated Gross Written Premiums (GWP), which stood at Rs.9.8 billion at the end of the period in review, […]
Asia shares win reprieve as bond rout pauses for now
TOKYO, Nov 16 (Reuters) – MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trade on Wednesday, bouncing back from a four-month low touched the previous day. Asian shares won the reprieve from a rally in Wall Street shares as the sell-off in global bonds and sharp gains in the […]
Sri Lankan market crowded, Asian telcos under pressure in 2017: Fitch
Nov 15, 2016 (LBO) – Sri Lanka continues to be a crowded market with five operators serving a population of 21 million and set for consolidation, Fitch Ratings said in a statement. “We expect industry consolidation in India, Indonesia and Sri Lanka, as weaker telcos exit the market or seek mergers and acquisition to strengthen […]
Sri Lanka’s e-commerce industry poised to take off: JLL
Nov 15, 2016 (LBO) – Sri Lanka’s online retail industry growing fast due to lack of physical infrastructure like shops and malls, Jones Lang LaSalle, SriLanka said. “Not only do things look good for physical retail in the country but also for online retail,” Gagan Singh, chairperson, JLL, SriLanka said in a statement. “Unlike other countries […]
Capitol Developers launch 50-Storey Skyscraper in Uptown Colombo
(PRESS RELEASE) – Capitol Developers Limited of the Sanken Group held the groundbreaking ceremony of its latest 470 apartment twin tower project – Capitol Twin Peaks on 12 November 2016, at its strategic location at 24, Staple Street, Colombo 02. Hon. Patali Champika Ranawaka – Minister of Megapolis and Western Development graced the event as […]
Asia stocks under pressure as dollar hovers near 14-year high
HONG KONG, Nov 15 (Reuters) – The U.S. dollar hovered near on a 14-year high on Tuesday and Treasury yields extended their rise as investors braced for higher inflation in the United States amid expectations of fiscally expansionary polices under Donald Trump’s presidency. The combination of the two have derailed Asian currencies and equities, […]
Sri Lanka property restrictions on foreigners relaxed: Budget
Nov 11, 2016 (LBO) – The Finance Minister in Budget 2017 announced measures to relax restrictions placed on property and land with regard to foreigners, and to allow companies to lease land. “The Government would remove freehold right restrictions from the ground floor and also allow foreigners who will be purchasing condominiums to raise 40 […]