Tag: lbo.lk
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 […]
Sri Lanka to add new domestic air service in 2017: Budget
Nov 11, 2016 (LBO) – Sri Lanka will introduce a new domestic airline by March 2017 to increase local connectivity, the Finance minister said. “This airline will be on a public private partnership agreement, which will include the Sri Lanka Air Force, the hotel industry, travel agents and other private sector stakeholders,” Ravi Karunanayake, finance […]
Asian shares dip, soaring US bond yields rattle emerging markets
TOKYO, Nov 11 (Reuters) – Asian shares dipped while the dollar strengthened broadly on Friday as U.S. bond yields soared on expectations U.S. President-elect Donald Trump’s policies would stoke inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent, with Korean shares off 0.5 percent. Australian shares eked out small gains of 0.1 […]
Commercial Bank’s 9-month post-tax profit crosses Rs 10 billion
(Press Release) Loan book upby Rs 66.4 billionto Rs. 574.5 billion Deposits grow by Rs 86.4 billion to Rs 710.5 billio Assets reach Rs 953.3 billion, up Rs 73.5 billion in 9 months Commercial Bank of Ceylon PLC has reaffirmed its status as one of the strongest-performing entities in Sri Lanka’s financial sector with […]
Sri Lanka to list Mobitel, Hyatt other state enterprises: Budget 2017
Nov 10, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said several state-owned enterprises such as Mobitel, Hyatt, Waters Edge, Grand Oriental Hotel will be listed on the Colombo Stock Exchange. The firms are to be listed during 2017, he said presenting budget proposals for 2017. “We will also list non-strategic enterprises such as […]
Sri Lanka to set up sugar fund with ethanol tax and cess: Ravi
Nov 10, 2016 (LBO) – Sri Lanka will set up a special price stabilization fund for sugar cane, and give state land and a 100 percent capital allowance to set up factories as incentives to develop the industry, Finance Minister said. “I propose to establish a Sugar Stabilization Fund by imposing a 2 percent Cess […]
Sri Lankan rupee trades firm on bank, exporter dollar sales
COLOMBO, Nov 10 (Reuters) – The Sri Lankan rupee traded slightly firmer on Thursday as dollar selling by exporters and banks outpaced demand for the greenback from importers ahead of the national budget, dealers said. Rupee forwards were active, with spot-next forwards trading at 147.75/148.00 per dollar at 0600 GMT compared with Wednesday’s close of […]
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(PRESS RELEASE) – Fitch Ratings-Colombo-10 November 2016: Fitch Ratings has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long- Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS SCBSL’s rating reflects the credit profile and financial strength of Standard Chartered Bank (SCB: A+/Stable). The rating is linked with SCB’s Issuer Default Rating […]
Nestlé Lanka’s growth at 6.1-pct in first nine months of 2016
(PRESS RELEASE) Nestlé Lanka’s growth at 6.1 % in first nine months of 2016 Sales of Rs.27.8 billion with 6.1% growth Net Profit ofRs. 3.5 billion Focuses oninnovation and renovation, in line with Nutrition, Health and Wellness agenda Recognized for work done on positively impacting local communities, supporting economic development and deliveringworld class locally manufactured […]
Sri Lanka govt to fund Rs635Mn development of BIA
Nov 10, 2016 (LBO) – Sri Lanka’s cabinet of ministers have given the go ahead to construct a new immigration hall, electronic mall and an expansion of the departure concourse at the Bandaranaike International Airport (BIA) with a total cost of 635 million rupees. Construction contract for the immigration hall and new mall construction had been awarded […]
Sri Lanka govt approves phase 2 of Central Expressway, only single bidders
Nov 09, 2016 (LBO) – Sri Lanka’s cabinet has given the nod to build the second section of Central Expressway which runs from Mirigama to Kurunegala for 39.29 kilometers. The contract in this regard has been divided into four (04) packages and only one set of bidders submitted proposals for each of four civil work contract packages. […]