Category: Economy and Markets
Sri Lanka launches first social impact funds to support social entrepreneurs
Sept 27, 2018 (LBO) – Two Memoranda of Understanding were signed today in New York, launching Sri Lanka’s first social impact funds aimed at supporting social entrepreneurs access innovative financing, to help achieve the 2030 Agenda for Sustainable Development.The signings were witnessed by Foreign Minister Tilak Marapana and Achim Steiner, UNDP Administrator, at a special […]
Shareholders of Morison reject resolution to delist from CSE
Sept 27, 2018 (LBO) – Morison PLC said in a stock exchange filing that their resolution to delist the company from the Colombo Stock Exchange was not adopted by the shareholders at the EGM.Morison PLC last month proposed to delist ordinary voting shares and ordinary non-voting shares of the company from the official list of […]
Uncertainty surrounds MTD Walkers (KAPI) upcoming Rs2.1bn debenture maturity
September 26, 2018 (LBO) – Colombo Stock Exchange (CSE) listed MTD Walkers (KAPI) has left debt market investors on the edge with regard to the company’s upcoming debenture maturity. KAPI will have to refund Rs2.1bn to investors at the end of the week on September 30th 2018. The debenture is maturing after its three year […]
NDB rights issue in question as shares trade below rights issue price of 105
September 26, 2018 (LBO) – The woes of the Colombo Stock Exchange (CSE) threaten to disrupt the capital raising efforts of one of Sri Lanka’s most prominent financial institutions. CSE listed National Development Bank (NDB) is attempting to raise funds via a rights issue to bolster the capital of the bank. The bank is trying […]
Collapse of rupee and yahapalana govt.’s economic mismanagement: MR
Sept 26, 2018 (LBO) – The Rupee has depreciated steadily against the US Dollar ever since the yahapalana government came into power – a trend which has now accelerated alarmingly. The value of the US Dollar which was Rs. 131 at the end of 2014 when I left office is now over Rs.170 and continuing […]
Appropriation Bill to parliament second week of October
Sept 25, 2018 (LBO) – Sri Lanka’s cabinet has approved the Appropriation Bill proposed by Finance Minister Mangala Samaraweera, to be presented in Parliament during the second week of October, a statement said. The Appropriation Bill estimates, the total expenditure for 2019 without budget proposals is 4,376 billion rupees, the latest statement on cabinet decisions said. […]
“Sri Lanka Socio-Economic Data – 2018”, now available
Sept 24, 2018 (LBO) – “Sri Lanka Socio-Economic Data – 2018”, the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The current data folder is the 41st volume of the series. This easy- to- carry data folder contains information categorized under 14 topics, namely, Country Profile; […]
Sri Lankan tech firm Auxenta in ‘30 Most Innovative Companies to Watch 2018’
Sept 21, 2018 (LBO) – The fast-growing boutique technology solutions firm, Auxenta, is proud to be named as one of ‘30 Most Innovative Companies to Watch for 2018’, with some of the leading tech firms around the globe. Headquartered in Silicon Valley, USA, Auxenta is an innovative software engineering services and technology product consulting company. It works […]
‘s rupee hits record lows as Central Bank hold rates
Sept 21, 2018 (LBO) – Sri Lanka’s rupee hit an all time low of 168.65/169.00 to the US dollar at the close of day Thursday down from 167.10 the day before as the Central Bank of Sri Lanka held rates. Sri Lanka’s Minister of Finance Mangala Samaraweera releasing a statement said that Sri Lanka has been […]
World Bank says action needed to prevent impacts from climate change in Sri Lanka
Sept 20, 2018 (LBO) – Rising temperatures and changing rainfall patterns pose a threat to Sri Lanka and could reduce GDP and living standards, a new World Bank report says. The report South Asia’s Hotspots: The Impact of Temperature and Precipitation Changes on Living Standards flags that almost half of South Asia’s population now lives in vulnerable […]
‘s fruits and vegetables
Sept 20, 2018 (LBO) – A Memorendem of Understanding has been signed between the Ministry of National Policies and Economic Affairs and the Government of India, to commence the construction of the largest cold storage in Sri Lanka for vegetables and fruits. According to the MoU signed at the Indian High Commission in Colombo, with […]