Category: Economy and Markets
Sri Lanka stocks close down 0.04-pct: Banking losses
Oct 06, 2015 (LBO) – Sri Lankan stocks closed down 0.04 percent on Tuesday with losses in seen in Dialog Axaita and banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed down 3.13 points at 7,085.93 lower 0.0.04 percent. S&P SL20 closed 2.92 points lower at 3,827.31 down 0.08 percent. Turnover […]
PTL Watch: Moderate activity, local buying matches foreign selling in bonds
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RBI Governor in Colombo say US hike delayed amid slow growth
Oct 06, 2015 (LBO) – The Reserve Bank of India Governor Raghuram Rajan says those who were betting on a September U.S. rate hike now see it delayed until March, amidst weaker economic data. The RBI governor was speaking at the 65th Anniversary Oration of the Central Bank of Sri Lanka in Colombo on Monday. […]
Sri Lanka should be a trading country; no balancing acts: Harsha
Oct 06, 2015 (LBO) – Sri Lanka should be a trading country and there is no need of a balance between manufacturing and trading, Deputy Foreign Minister Harsha de Silva said. “Some say there must be a balance between manufacturing and trading. I don’t believe in this balancing. We have to go down to the […]
Sri Lanka stocks close down 0.23-pct: Two week low
Oct 05, 2015 (LBO) – Sri Lankan stocks closed down 0.23 percent on Monday with losses in tobacco and beverage stocks following the government increasing the excise duty on cigarettes and liquor with effect from Saturday (03), brokers said. The Colombo benchmark All Share Price Index closed down 16.48 points at 7,089.06 lower 0.23 percent. […]
PTL Watch: Little activity, selling in 6-yr and 13-yr bonds
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Finance Minister aims to increase annual aid from IMF, WB
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake who left the island to attend the 2015 Annual Meetings of the World Bank Group and the IMF is currently aiming at increasing annual aid to Sri Lanka.Sri Lanka receives long term aid of 400 million US Dollars annually from these two institutions, the Finance […]
Sri Lanka’s LAUGFS acquires USD6mn LPG ship
Oct 05, 2015 (LBO) – Sri Lanka’s LAUGFS Maritime Services, a logistic arm of LAUGFS Gas PLC, said it acquired their second LPG ship to provide logistic support for the growing LPG demand in the country. This second acquisition was made with a total expected investment of USD 6 million, is named as MT ”Gas […]
Analysis: Sri Lanka foreign reserve dilemma hinges on Central Bank objectives
Oct 05, 2015 (LBO) – Acting quicker than it did in early 2012, the decision by Sri Lanka’s Central Bank to give up defending the rupee in September of this year bodes well for a quicker recovery of foreign exchange reserves. But enamored with an additional objective of economic development, that goes beyond financial and […]
Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]
Central Bank to sell USD 75mn worth of development bonds
Oct 05, 2015 (LBO) – The Central Bank will issue 75 million US dollars of development bonds of one year, three years and three months, and four years and eight months to local and foreign investors.The Debt Department said the subscription will be at a rate of US dollar six month LIBOR plus a margin […]
Sri Lanka increases excise duty on cigarettes and liquor: Finance Ministry
Oct 03, 2015 (LBO) – Sri Lanka government has increased the excise duty on cigarettes and liquor with effect from Saturday (03), the ministry of finance said in a release.The Excise duty on Molasses and Coconut arrack has been increased by 110 rupees from 1485 rupees per proof liter. Accordingly the prices of a bottle […]