Tag: Sri Lanka

Nov 11, 2014 (LBO)- Fitch Ratings Lanka has assigned Sampath Bank PLC’s proposed subordinated debentures of up to seven billion rupees an expected National Long-Term Rating of ‘A+(lka)(EXP)’, the rating agency said in a media statement. The debentures, which will have tenors of five years and carry fixed coupons, will be listed on the Colombo […]

Nov 07, 2014 (LBO) – The Asian Development Bank (ADB) signed first tranche loan agreement with the Sri Lanka government to lend 800 million dollars to upgrade roads. The first tranche in an amount of 100 million US dollars with the 18 million US dollars of government’s investment will finance the first slice of the […]

Nov 07, 2014 (LBO) – Sri Lanka’s exports rose 0.5 percent, to 903 million US dollars in September 2014 from a year earlier with largest contribution from textiles and garments followed by coconut and printing industry products, official data showed. In September worker remittances (exports of labour) rose 3.1 percent to 575 million US dollars, […]

Nov 04, 2014 (LBO) – Sri Lanka launched a Sri Lanka shopping festival or SLASH recently with an aim to increase customer traffic into retail areas multi-fold and attract hundreds of thousands of additional shoppers across multiple locations to create additional businesses for retailers organizers said in a media release. Organizers also plan to immense […]

Nov 03, 2014 (LBO) –Sri Lanka inflation continued its decelerating trend observed since June 2013 and reached 1.6 per cent in October 2014 compared to 4.7 per cent in July 2014, on an annual average basis the Central bank of Sri Lanka said in a media release. Prices in Clothing and Footwear; Health; Recreation and […]

Nov 03, 2014 (LBO) – Sri Lanka Central Bank says that further progress was made by banks and finance and leasing companies (NBFIs) on the financial sector consolidation process, during the month of October this year. During the month of October 2014, Central Finance Co. PLC & Isuru Leasing Co.Ltd. and Arpico Finance Co. PLC […]

Oct 28, 2014 (LBO)-Sri Lanka to increase the guaranteed price of liquid milk to 60 rupees per liter in order to increase local milk production and popularize the local milk production. President Mahinda Rajapakse proposed this presenting the budget 2015, at the Parliament, Colombo. I now propose to increase the guaranteed price of liquid milk […]

Oct 27, 2014 (LBO) – Sri Lanka will continue to liberalize exchange controls to encourage the investments that needed to maintain high economic growth and to link more with global business Central bank Deputy Governor P Samarasiri said.He said the exchange control activities started in Second World War to protect the foreign exchange earnings they […]

Oct 21,2014 (LBO) – Sri Lanka Ceylon Chamber of Commerce plans to hold a post budget seminar to discuss the ‘National Budget of 2015’, which will be presented in Parliament on the 24thof October, 2014, chamber said in a media release. Top government officials, senior tax consultants and corporate executives have been lined up to […]

Oct 21, 2014 (LBO) – Sri Lanka’s Government urged to create a friendly regulatory framework to drive the growth of the small and medium enterprises in the island, chamber chief said. Tilt the policy framework in favor of SME’s, Suresh Shah, Chairman of the Ceylon Chamber of Commerce said. This is only fair since many […]

Oct 20, 2014 (LBO) – Sri Lanka to construct and rehabilitate about 537 rural bridges with a credit facility of 162 million US dollars, provided by The Deutsche Bank AG (London) and the Bank of Tokyo-Mitsubishi UFG Ltd Finance ministry of Sri Lanka said. Added to that the ministry says the development of these bridges […]

Oct 20, 2014 (LBO) Sri Lanka’s cabinet of ministers had given approval to establish an Inter Regulatory Institutions Council with a view of identifying issues that require collective action by financial sector regulators.Establishment of the council plans to promote financial system stability and the development of the financial sector. Financial institutions include licensed banks, licensed […]