July 18, 2017 (LBO) – The Executive Board of the International Monetary Fund (IMF) has completed the second review of Sri Lanka’s economic performance under the program supported by a three-year Extended Fund Facility (EFF) arrangement, a statement said. “Completion of the review enables the disbursement of the equivalent of SDR 119.894 million (about US$ 167.2 million), bringing total disbursements under the arrangement to the equivalent of SDR 359.682 million (about US$ 501.5 million).”“In completing the review, the Executive...
Tuesday, July 18, 2017
Sri Lanka stock market records 8-pct gain in 1H
July 18, 2017 (LBO) – The benchmark All Share Price Index of the Colombo Stock Exchange (CSE) recorded an 8.23 percent gain year-to-date, a noteworthy turnaround in the first half of this year, having started the year on the back of a slow-moving 2016.The S&P SL 20 index, which features the CSE’s 20 largest and most liquid stocks, has also improved consistently, making an 11.03 percent gain year-to-date.The CSE said the growth of the indices in 2017 reflects a reversal of the declining trend from a 9.66 percent and 5.54...
Dumindra Ratnayaka appointed chairman of BOI: Reports
July 18, 2017 (LBO) – Dumindra Ratnayaka has been appointed as the chairman of the Board of Investment (BOI) of Sri Lanka, media reports said.He is the only member from the previous board that has been reappointed to the new board. Others in the previous board were Upul Jayasuriya, Buddhi Keerthi Athauda, Manoj Cooray and M.A. Neeth Udesh.Ratnayaka is the current Chairman of Martin & George limited and the former CEO of Etisalat Sri Lanka.Media reports further said two new Directors have also been appointed to the Board...
CHEVRON LUBRICANTS - DIVIDEND ANNOUNCEMENT
CHEVRON LUBRICANTS LANKA PLC Company ID: - LLUB Date of Announcement: - 18.Jul.2017 Rate of Dividend: - Rs. 2.00 per share / Second Interim Dividend Financial Year: - 2017 Shareholder Approval: - Not Required XD: - 27.Jul.2017 Payment: - 08.Aug.2017 &nb...
Monday, July 17, 2017
Sri Lanka prepares for 7th session of FTA talks with China
July 17, 2017 (LBO) – Sri Lanka is preparing for a seventh session of talks with China on a Free Trade Agreement, the Ministry of Industry and Commerce said.Minister Rishad Bathiudeen, speaking at the product exhibition by China’s Guangxi Zuang Autonomous Region at SLECC in Colombo, said FTA talks with China were progressing smoothly. “The sixth round of talks were successfully concluded this March in Beijing. We are working for the seventh FTA round next.”The ministry said 42 percent of Sri Lanka’s total imports in 2016 came...
New revenue Bill should be implemented from April 2018: Ceylon Chamber
July 17, 2017 (LBO) – Ceylon Chamber of Commerce says it is their view that the new Inland Revenue Bill, once enacted, should ideally be implemented from 1st April 2018.The chamber says it will give a longer transitional period for both the tax payer and the Department of Inland Revenue to become fully conversant with the provisions of the law.The new Inland Revenue Bill, which was gazetted on 16th June 2017, was tabled in Parliament on 05th July 2017. Once passed by Parliament, this Bill will replace the existing Inland Revenue...
ORIENT FINANCE - DIVIDEND ANNOUNCEMENTS
ORIENT FINANCE PLC Company ID: - BFN Date of Announcement: - 17.Jul.2017 Rate of Dividend: - Rs. 0.25 per share / Final Dividend Financial Year: - 2016/2017 Shareholder Approval: - Required Dates to be notifi...
Friday, July 14, 2017
Tax reforms would help SL rating outlook back to stable: Moody's
July 14, 2017 (LBO) – Evidence of effective implementation of reforms that leads to significant and lasting improvements in tax collection, and more stable external financing conditions, would support a return of Sri Lanka’s rating outlook to stable, Moody’s said.Moody’s Investors Service said signs that planned fiscal consolidation measures are less effective than Moody’s currently expects or that the authorities’ commitment towards such...
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