Tag: lbo
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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 […]
Sri Lanka signs up first tranche of US$100mn to upgrade roads
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 […]
Sri Lanka external trade expands in September: Central Bank
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, […]
Sri Lanka launches shopping festival to attract customer traffic into retail areas
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 […]
Sri Lanka Central bank says inflation declines considerably in October
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 […]
Sri Lanka makes further progress on financial sector consolidation: Central Bank
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 […]
Sri Lanka to promote local milk production: Budget 2015
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 […]
Sri Lanka Chamber welcomes budget 2015
Oct 27, 2014 (LBO) –Sri Lanka’s Ceylon Chamber of Commerce welcomes the ‘National Budget of 2015’ which is presented to the parliament last week, the chamber said in a media release. The Media Release by Ceylon Chamber of Commerce The Ceylon Chamber of Commerce welcomes the commitment to continued fiscal consolidation in the Budget 2015, […]
Sri Lanka to continue relaxing exchange controls: Deputy Governor
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 […]
Sri Lanka super markets to maintain VAT and NBT but Small Businesses exempted
Oct 25, 2014 (LBO) – Sri Lanka president suggested the super markets to maintain value added tax (VAT) and national building (NBT) tax as at 100 million rupees per quarter.He also suggested to exempt all the small and medium businesses who earns 15 million rupees or below per year from VAT and NBT. The number […]
VAT Reduced: Payee tax limited: Budget deficit to be reduced: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka President suggested to reduced value added tax to 11 percent and limited payee tax to 16 percent, thought the budget 2015.Sri Lanka plans to reduce budget deficit to 4.6 percent in 2015. Currently the value added tax is 12 percent in the island. The government plans to reduce […]
Sri Lanka to reduce water chargers: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka budget 2015 suggests to reduce the chargers of the first 25 units of household water supply by 10 percent.Also budget 2015 plans to invest 750 million rupees to start new water supply schemes, giving more importance to places with kidney and water related diseases. President Mahinda Rajapaksa, in […]