Author: lbostgadmin
‘s latest treasury bill auction
October 10, 2018 (LBO) – Interest rates moved sharply higher in treasury bond auctions today.Auction results are representative of the turmoil in global fixed income markets caused by the U.S. Treasury 10 year bond interest rates breaking out to multi-year highs.The 10 year US Treasury bond yield stands at 3.2%. With further interest rate hikes […]
Price controls dominate political debate but may not help consumers: Report
Oct 10, 2018 (LBO) – A new report by The Advocata Institute, titled “Price Controls in Sri Lanka: Political Theatre” finds that consumer price controls lead to unintended outcomes including lower quality.Politicians have imposed price controls on a variety of items in the belief that capping prices will lower costs but our survey shows that […]
Sri Lanka FM interview ahead of IMF and WB annual meet on global trade, economy
Oct 10, 2018 (LBO) – Global finance and reserve bank chiefs will gather this week in Bali, Indonesia for the annual gathering of the International Monetary Fund and World Bank amid rising concern over trade war and risks of global economic crisis.Sri Lanka’s Minister of Finance and Communications, Mangala Samaraweera is chair of the Groups […]
MillenniumIT announces transition of organisation’s name to LSEG Technology
MillenniumIT, a part of London Stock Exchange Group (LSEG) today announced the transition of the organisation’s name to LSEG Technology. As a leading global financial technology provider, LSEG Technology is committed to offering world-class solutions through its array of products to a portfolio of financial market customers around the world. Nigel Cairns, General Manager of […]
US Embassy launches cultural heritage preservation project in Jaffna
Oct 10, 2018 (LBO) – US Embassy recently launched a two-year project to preserve pre-historic artifacts in the collection of the University of Jaffna. The funding is provided by the US Department of State under the Ambassadors Fund for Cultural Preservation (AFCP) and totals more than 23 million Sri Lankan rupees ($140,000). Chargé d’affaires Robert Hilton […]
CMC pays up in order for SLLRDC to resume garbage collection
Oct 10, 2018 (LBO) – The Megapolis and Western Development Ministry yesterday said Colombo Municipal Council (CMC) made an advance payment of 100 million rupees to the Sri Lanka Land Reclamation and Development Corporation (SLLRDC) in order for the latter to resume garbage collection in the CMC area.Megapolis and Western Development Minister Patali Champika Ranawaka further […]
‘s UN Ambassador, speculation she will challenge him for the Presidency
October 9, 2018 (LBO) – United States Ambassador to the United Nations Nikki Haley has resigned according to media reports. Haley (46) is a high profile American political leader of Indian descent. Haley was the Governor of southern state South Carolina before she resigned to take up the position of US Ambassador to the UN. […]
” rating; outlook stable
Fitch Ratings Lanka Limited has assigned Dialog Finance PLC (DF) a National Long-Term Rating of ‘AA(lka)’. The Outlook is Stable. KEY RATING DRIVERS NATIONAL RATINGS DF’s rating reflects Fitch’s view that support would be forthcoming from Dialog Axiata PLC (Dialog), the largest mobile-telecommunication and pay-TV operator in Sri Lanka. The assessment is based on Dialog’s 98.9% […]
We do not expect govt. to implement a price formula for electricity soon: Fitch
Oct 09, 2018 (LBO) – Fitch Ratings on Tuesday said that they do not expect the government to raise electricity tariffs or implement a cost-reflective pricing formula as the government faces elections in the next 24 months amid rising costs. Fitch Ratings revealed their expectation while affirming Ceylon Electricity Board’s National Long-Term Rating at ‘AAA(lka)’ […]
Sri Lanka earnings from tourism up: Workers’ remittances decline marginally in July 2018
Oct 09, 2018 (LBO) – Sri Lanka’s external sector recorded a moderate performance in July 2018. The trade deficit continued to widen in July 2018 (year-on-year) with higher import expenditure despite export earnings surpassing US dollars 1 billion during the month. Earnings from tourism recorded a modest growth while workers’ remittances declined marginally, on a […]
IMF cuts global growth forecast to 3.7-pct for 2018, 2019
Oct 09, 2018 (LBO) – International Monetary Fund has reduced its outlook for global GDP growth by 0.2 percentage points to 3.7 percent for 2018 and 2019, according to the quarterly World Economic Outlook Report issued on Monday. Rising trade tensions and debt levels in economies has prompted the International Monetary Fund to cut its […]
Indian automobile manufacturers meet CMTA; 70% of new vehicles from India
A twenty-member delegation from the Society of Indian Automobile Manufacturers’ (SIAM) held a very fruitful and cordial meeting with The Ceylon Motor Traders’ Association (CMTA) last week. SIAM is the apex Industry body representing leading vehicle and vehicular engine manufacturers in India while the CMTA represents the manufacturers of the global brands of automobiles and […]