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Tax Proposals Credit Negative for Sri Lanka Telcos –Fitch

One-off and recurring taxes on the Sri Lankan telecoms sector as set out in the interim budget proposals on 7 February, raise regulatory risks and would lead to lower profitability and higher financial leverage for Sri Lankan telcos, says Fitch Ratings. The agency has revised its outlook on the sector to negative from stable. If…

(0)Comments | March 3, 2015 1:57 pm

Stock Market Review – 02nd Feb 2015

Colombo equities started the weekly operations with negative returns on Monday amid sluggish activity seen among the investors. The market was up in the morning session but slide to close in negative column where the benchmark ASI declined to a nearly three week low of 7,244.40 with a drop of 56.89 points (-0.78%) to end…

(0)Comments | March 2, 2015 5:28 pm

OECD growth economy calls for Bilateral Investment Pact with Sri Lanka

In its first ever national level investment push on Sri Lanka, the fastest growth economy in the powerful OECD grouping called on 13 February for a bilateral investment protection treaty for the first time-and Sri Lanka’s bilateral trade with this easternmost economy of NATO is rising steadily. “Many Turkish companies are interested in Lankan infrastructure…

(0)Comments | March 2, 2015 4:35 pm

Pathfinder Economic Flash- IMF, World Bank and other DonorSupport

IMF, World Bank and other DonorSupport: Should not be a pretext for avoiding economic reform The IMF tends to be the refuge of countries that have mismanaged their economic affairs. In this context, it is important to recall that Sri Lanka has had to obtain balance of payments support from the IMF on a number…

(0)Comments | March 2, 2015 10:10 am

MH370 search nations trial long-haul plane tracking

Australia, Indonesia and Malaysia are to trial a new method of tracking planes, almost a year after a Malaysia Airlines flight disappeared. Contact with flight MH370, carrying 239 people, was lost en route from Kuala Lumpur to Beijing. Despite an extensive search no trace has ever been found. The trial system enables planes to be…

(0)Comments | March 2, 2015 1:52 am

One Colombo (Pvt) Ltd. to construct mixed use development project in Slave Island

Cabinet has approved a proposal submitted by Minister of Highways, Higher Education, and Investment Promotion Kabir Hashim to review the whole process of launching a mixed development project in the Slave Island area in Colombo 2 on an 08 acre land area with the objective of providing a better life standard to the people of…

(0)Comments | February 27, 2015 2:29 pm

Stock Market Review – 26th Feb 2015

Colombo bourse closed higher on Thursday after a choppy trading session. The index bounced back and forth across the unchanged line but managed to close at 7,317.44 with a gain of 12.83 points (+0.2%) while S&P SL 20 index gained merely 3.06 points (+0.1%) to close at 4,122.28. The choppy trading on the bourse reflects…

(0)Comments | February 26, 2015 4:53 pm

Fitch: Challenges Remain for Under-Capitalised Sri Lankan Banks

(Fitch) The operating environment for Sri Lankan banks is likely to improve in 2015 and 2016 with pressures on asset quality and the loans/deposits ratio diminishing and the potential for loan growth to pick up, says Fitch Ratings. However, longer-term challenges for the banking sector remain. Foreign-currency borrowing has been rising, and capital levels are…

(0)Comments | February 26, 2015 4:44 pm

Our common objective is to see a well regulated capital market -Thilak Karunaratne

The Special Envoy (Ministerial Rank) to India and South Asia on Infrastructure, Prime Minister’s Department, Government of Malaysia Dato’ Seri Utama S. Samy Vellu rang the ceremonial opening bell at the start of trading today (26th). Deputy Minister of Policy Planning and Economic Affairs Hon. (Dr.) Harsha De Silva and Chairman of the Securities and…

(0)Comments | February 26, 2015 4:08 pm

Exclusive -Sri Lanka’s CSE to go for ‘Central Counterparty System’

Colombo Stock Exchange (CSE) is to set up a ‘Central Counterparty System’ (CCP) as a measure to safeguard both the investors as well as the stockbrokers. This is being done for the first time in Sri Lanka, CSE Chairman Vajira Kulatilaka said this morning (26 February). The CCP is a fund which would safeguard both…

(0)Comments | February 26, 2015 11:53 am