Category: Economy and Markets
Shangri-La opens luxury paradise apartments for viewing
(PRESS RELEASE) – Colombo’s once static skyline is now in the midst of a vast transformational process and at the forefront of this immense development is Shangri-La, Asia Pacific’s leading luxury hotel, resort and residential group, with its very first mixed development project, One Galle Face. A rendition of the luxury apartment, the ‘New Show […]
COPE should inquire transactions of Templeton fund in Sri Lanka: Harsha
Mar 09, 2017 (LBO) – Sri Lanka’s Committee On Public Enterprises (COPE) should investigate the transactions carried out between the US-based Franklin Templeton Fund and Central Bank in the past, Deputy Foreign Minister Harsha de Silva said. De Silva confirmed to reporters Wednesday that close to 500 million US dollars have been taken out from […]
Indonesia, Sri Lanka to strengthen trade and economic ties
Mar 09, 2017 (LBO) Sri lanka’s President Maithripala Sirisena, who is on a state visit to Indonesia, met with President Joko Widodo Wednesday with a proposal for a free trade agreement between the two countries among the topics discussed. The meeting between the two leaders commenced following a cordial discussion, a statement from the Sri […]
PTL Watch: Sri Lanka T-bill yields higher at auction
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/03/PTL-Daily-Market-Report-08th-March-2017-1.pdf” title=”PTL Daily Market Report 08th March 2017 (1)”]
S&” rating on Sri Lanka
Mar 08, 2017 (LBO) – Standard and Poor global ratings affirmed its ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka while keeping a ‘negative’ outlook unchanged, a statement said. “High external debt, and low reserves continue to make Sri Lanka vulnerable to external shocks. Other rating constraints on Sri Lanka include the […]
New Zealand keen to broaden investment in Sri Lanka
Mar 08, 2017 (LBO) – The Government of New Zealand expects to broaden existing investment in Sri Lanka and is ready to assist in economic development activities in the island, the finance ministry said in a statement. New Zealand wants to provide technical support in infrastructure development and assist in developing the agricultural sector of […]
Pan Asia Bank completes Rs 2Bn rights issue
Mar 08, 2017 (LBO)- Sri Lanka’s Pan Asia Banking Corporation said they were successful in completing a rights issue to raise up to 2.06 billion rupees. In December 2016 the bank announced the issue of 147. 5 million shares at one new share for every two shares held at an issue price of 14 rupees. […]
Sri Lanka BPPL Holdings IPO oversubscribed
Mar 08, 2017 (LBO) – Sri Lanka’s brush exporter BPPL Holdings said its initial public offer of 30. 68 million ordinary shares at 12 rupees each was oversubscribed the opening day. The company said in a stock exchange filling that therefore they were closing the offer, Tuesday. The company also known as Beira group said Hirdramani […]
No proposal yet for new Coca-Cola plant in Sri Lanka: Minister Malik
Mar 07, 2017 (LBO) – Sri Lanka’s International Trade Ministry has not yet received a request for setting up a new Coca-Cola plant in the island, Development Strategies and International Trade Minister Malik Samarawickrama said. “We have not received any proposal with regard to establishing a Coca-Cola production factory in Sri Lanka,” Minister Samarawickrama told […]
Sri Lanka fulfilled Dec fiscal targets, eyes on SOE reforms: IMF
Mar 07, 2017 (LBO) – Sri Lanka needs to accelerate implementation of structural reforms in public financial management and state owned enterprises, the International Monetary Fund said Tuesday, concluding a staff visit. A staff team from the IMF led by Jaewoo Lee visited Colombo during February 21-March 7, 2017 to hold discussions on the second […]
Sri Lanka rated ‘Mostly Unfree’ in new report: Heritage Foundation
Feb 21, 2017 (LBO) – Sri Lanka slipped to be rated as a ‘Mostly Unfree’ country this year in the Index of Economic Freedom, with the lack of government integrity and judicial freedom contributing towards the slip, a new report showed. The US-based Heritage Foundation, in their annual Index of Economic Freedom, said that economic […]
‘s public sector expanded 39-pct during past decade
Feb 21, 2017 (LBO) – Sri Lanka’s public sector, excluding the semi government sector and three forces, expanded 39 percent in the last ten years, a census conducted by the statistics office showed. Preliminary results of the census show that by last year Sri Lanka’s public sector alone had a workforce of 874,395 which is […]