Category: Economy and Markets
Sri Lanka exports, imports declines; trade gap widens in December 2015
Mar 04, 2016 (LBO) – Sri Lanka’s exports fell 18.7 percent to 817.5 million US dollars in December 2015 from a year earlier while imports fell at a slower 8.5 percent to 1,644.7 million US dollars, official data showed. The trade gap widens 4.4 percent to 827.3 million US dollars from a year earlier. On […]
Sri Lanka’s stock exchange launches educational web portal
Mar 03, 2016 (LBO) – the Colombo Stock Exchange on Thursday officially launched its online educational portal with the aim of improving skills and knowledge related to the capital market among public. The new portal (cse.edu.lk) which delivers content in all three languages is set to assist the CSE in reaching out to a wider […]
‘s visit: BOI
Mar 03, 2016 (LBO) – Prime Minister Ranil Wickremasinghe’s forthcoming visit to Beijing is being eagerly awaited by the Chinese leadership as a timely opportunity to strengthen bilateral relations, the BOI said in a statement. Chinese Vice Minister of Foreign Affairs Liu Zhenmin has assured Minister Malik Samarawickrama that Chinese authorities are committed to achieving […]
Singer Sri Lanka to raise Rs2bn in listed debt
Mar 02, 2016 (LBO) – Singer Sri Lanka said it is planning to raise as much as 2 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that it wanted to sell 10 million debentures of 100 rupees each. But […]
PTL Watch: Bond yields tick higher on thin volumes
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China positive on trade, investment says Malik after visit
Mar 02, 2016 (LBO) – China is positive about Sri Lanka’s prospects as a strategically located platform for trade, investment and tourism, a statement issued following Minister Malik Samarawickrama’s recent visit to China said. “They saw opportunities for strengthening bilateral cooperation and looked forward to Prime Minister Ranil Wickramasinghe’s visit to China in April to […]
Sri Lanka’s Central Bank to sell USD200mn worth development bonds
Mar 01, 2016 (LBO) – The Central Bank will issue 200 million US dollars of development bonds with a tenor of 3 months, 5 months, 1 Year and 2 Years 1 month to local and foreign investors. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for USD […]
US calls on Sri Lanka to join Indo-Pacific Economic Corridor
Mar 01, 2016 (LBO) – United States called Sri Lanka to strengthen cooperation on issues of regional importance through multilateral organizations like the Indian Ocean Rim Association. “The United States encouraged Sri Lankan participation in its Indo-Pacific Economic Corridor initiative to increase economic connectivity among South Asian countries and with Southeast Asia, which is congruent […]
The Body Shop launches in Sri Lanka
Mar 01, 2016 (LBO) – The well-known British Cosmetics company, The Body Shop, has finally set foot in our paradise isle. “Gone are the days of relying on friends or relatives visiting from overseas to get our hands on a Body Shop pack. Now we Sri Lankans too can purchase our favourite products whenever necessary,” […]
Sri Lanka finds more hidden dues of past regime: Ravi Karunanayake
Mar 01, 2016 (LBO) – Sri Lanka has uncovered more dues of the past regime which will affect public finance, Finance Minister Ravi Karunanayake said. According to Karunanayake, Minister S.B. Dissanayake’s ministry has recently revealed that they have a burden on bills to pay an additional 5,423 million rupees. With this new addition government has […]
” on external debt
Feb 29, 2016 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) one notch to ‘B+’ from ‘BB-‘. A Negative Outlook has been assigned to the IDRs. The issue ratings on Sri Lanka’s senior unsecured foreign- and local-currency bonds are also downgraded to ‘B+’ from ‘BB-‘. The Country […]
Seylan Bank net profit up 24.4 percent for full year
Feb 29, 2016 (LBO) – Seylan Bank reported a reported a record profit after tax of 3,831 million rupees for the year ended 31st December 2015, up 24.4 percent compared with the previous year, the bank said. Profit before tax increased 24.25 percent to reach 5,777 million rupees for the year. Earnings per share was […]