Category: Economy and Markets
Sri Lanka inflation NCPI decelerates 0.7-pct in Jan 2016
Feb 23, 2016 (LBO) – Sri Lanka’s consumer prices decelerated 0.7 percent in January from a year earlier, compared with a 4.2 percent rise in December, data from the state statistics office showed. In December, inflation rose at a slower pace as compared with November’s 4.8 percent, the new index with a base year of […]
Sri Lanka lending to increase to USD 2Bn by 2016: ADB President
Feb 23, 2016 (LBO) – Asian Development Bank said it will scale up lending to Sri Lanka to 2 billion US dollars in loans and equity in 2016 through 2018 compared to the 1.5 billion US dollars in the past three years. “ADB is re-orienting its operations to meet the evolving needs of Sri Lanka […]
PTL Watch: Sri Lanka bond yields climb 30-40bps after rate hike
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Sri Lanka’s Ceylon Tobacco unit profits down 7.7-pct in Dec
Feb 20, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco fell 7.7 percent to 1,834 million rupees in the December quarter, interim accounts showed. The firm reported earnings of 9.79 rupees per share for the quarter compared to earnings of 10.61 rupees per share posted a year ago. Gross revenue […]
Sri Lanka Central Bank hikes interest rates by 50 bp
Feb 19, 2016 (LBO) – Sri Lanka’s Central Bank hiked interest rates after a monthly policy meeting due to risks to the macroeconomy from excessive money supply growth and a continued trend in inflation, a statement said. The decision surprised the market, with 10 out of 14 economists not expecting rates to go up, according […]
”: Fitch
Feb 19, 2016 (LBO) – Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ and affirmed the Fund Volatility Rating at ‘V5’. The fund is managed by Ceylon Asset Management (CAM). The full statement follows: Fitch Affirms Ceylon Dollar Bond Fund at ‘BB-/ V5‘ Fitch Ratings-London/Colombo-19 February 2016: Fitch Ratings has […]
Sri Lanka stocks up 0.7-pct
Feb 19, 2016 (LBO) – Sri Lankan stocks closed up at 0.67 percent with gains in most of the index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 41.89 points up at 6,250.89 up 0.67 percent. The S&P SL20 closed 28.45 points up at 3,269.24 up 0.88 percent. Turnover […]
Fitch affirms Ceylon Dollar Bond Fund at BB-/ V5
Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ and affirmed the Fund Volatility Rating at ‘V5’. The fund is managed by Ceylon Asset Management (CAM). KEY RATING DRIVERS The affirmation of the ‘BB-‘ Fund Credit Quality Rating is driven by the weighted average rating factor (WARF) and rating distribution […]
ADB to lend USD 500Mn, shifting focus in Sri Lanka lending
Feb 19, 2016 (LBO) – The Asian Development Bank will lend 505 million dollars to Sri Lanka in 2016 and focus on new areas like private sector development, knowledge solutions, and development of advanced infrastructure, a new report said. “ADB will continue to support Sri Lanka in new areas such as private sector development, knowledge […]
Elusive global outlook requires urgent policy response, says OECD
Feb 19, 2016 (LBO) – Achieving strong growth in the global economy remains elusive, with only a modest recovery in advanced economies and slower activity in emerging markets, according to the OECD’s latest Interim Economic Outlook. “The world economy is likely to expand no faster in 2016 than in 2015, its slowest pace in five […]
Sri Lanka to collect corporate taxes online from next month
Feb 19, 2016 (LBO) – Sri Lanka’s state tax collector will gradually move out of manual tax administration by launching the first phase of RAMIS next month. Starting from March, six tax types namely VAT, SVAT, CT, NBT, PAYE and WHT will be collected under the Revenue Administration Management Information System (RAMIS). The Inland Revenue […]
Perpetual Treasuries lead sponsor Investment Summit in Singapore
Feb 18, 2016 (LBO) – Sri Lankan primary dealer Perpetual Treasuries said it will be one of the lead sponsors of the Sri Lanka Investment Summit to be held in Singapore on March 15. This inaugural summit presented by FinanceAsia will be conducted with the objective of enhancing the image of Sri Lanka as a […]