Sri Lanka relaxes rules on Unit Trust Industry

Sri Lanka’s Monetary Board has approved the inclusion of investments in Glit Unit Trusts by Licensed Commercial Banks and Licensed Specialized Banks under the definition of “liquid assets“subject to several conditions.
Among the conditions imposed are, Glit Unit Trusts (GUTS) should be opened ended trusts, underline investment portfolio of GUTs should always be Sri Lankan Government [...]

Sri Lanka sees big demand from Oil & Gas companies to attend its upcoming ‘Road Shows’

By: Prasanna C. Rodrigo
Sri Lanka says around 25 oil and gas companies have so far subscribed to take part in the upcoming ‘Road Shows’ which will be held in, Houston, London and Singapore, to launch the  Island’s second Petroleum Exploration Licensing round.
The ‘Road Shows’ are planned to be kicked off on the 7th of March [...]

Colombo Stock Exchange will recover during this year – CSE Chairman

Chairman of the Colombo Stock Exchange, Krishan Balendra believes that the Colombo bourse will recover during this year.
Speaking at a weekend television program, Balendra said, this is visible when looking at the performances of the recent few months taken place in the CSE.
He also said, external factors such as the stabilization taking place in the [...]

Sri Lanka says import duties on automobiles will not come down immediately

Sri Lanka says its tariff increase on automobile imports was not aimed at cutting down Indian imports to the country, but was targeted at tackling a balance of payment problem faced by the Island, a media report said.
“The fact of the matter is that it (hike in import tariff) is not directed to Indian products. [...]

Aravinda De Silva, the batting genius speaks

Aravinda De Silva can be regarded as one of the finest cricketers Sri Lanka produced to the international stage.
His century in the 1996 World Cup final helped the country grab its first and the only World cup won so far.
De Silva, when batting was an entertainer; he feared no bowler and would launch an attack [...]

Re-examine the recently introduced market regulations – Former SEC DG

By: Prasanna C. Rodrigo
A former Sri Lankan market regulator urges authorities to launch an independent study to re-examine the recently introduced market regulations.
Former Director General of the Securities and Exchange Commission Channa De Silva speaking to News360.lk said, “All market regulations that were brought in the recent past should be re-examined from an independent standpoint”.
He believes [...]

Sri Lanka says, Chinese built coal power plant has shortcomings

Sri Lanka says, it has found certain shortcomings in the Chinese built coal power plant, located in the country’s North Western province.
Chairman of the Ceylon Electricity Board, Professor Wimaladharma Abeywickrama speaking to News360.lk said “There are quality issues in the plant”.
He made this claim as the 300 Megawatt coal power plant located in Norrochcholai is [...]

Can’t wait for SLPL to start – Sanath Jayasuriya

Below we reproduce an interview given by Cricketer Sanath Jayasuriya to Wisden India, where he talks about the SLPL, politics and his passion for the game.
Q: How excited are you about being a part of the SLPL?

Very much so. It’s the first edition of the tournament, and I really can’t wait for it to start. [...]

Lanka IOC plans further investment in China Bay Tank Farm

By: Prasanna Rodrigo
Lanka IOC, a unit of Indian Oil Corporation is planning to invest US$ 17 million to carry out further refurbishment of the China Bay Tank Farm, located in the Trincomalee District.
Under the new plans, the petroleum firm will refurbish few tanks, which will also include lying of new pipe lines, building a [...]

Too many Stock Broker firms in the Colombo Stock Exchange – SEC Chief

Sri Lanka’s Securities and Exchange Commission’s Chief Thilak Karunaratne believes that the number of Stock Broker firms operating in the Colombo Stock Exchange is too many for a tiny market such as the CSE.
“We have too many stock brokers for this tiny market and I don’t think they are making money, except for a few [...]