Category: Economy and Markets
‘s deflation increases to 0.3 pct in Sept from 0.2 pct in Aug
Sept 30, 2015 (LBO) – Sri Lanka’s deflation was lower at 0.3 percent, year-on-year, in September, from 0.2 percent in August, the census and statistics department said. On a 12 month moving average basis, inflation fell to 0.7 percent in September from 1.0 percent in the previous month.There were slight price declines from August to […]
Sri Lanka Treasury bill yields flat
Sep 30, 2015 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction, data from the state debt office showed.The 3-month yield was flat 6.78 percent with bids amounting to 16.6 billion rupees being received and it was decided to accept 5.2 billion rupees from the auction. The 06 month yield was also […]
Fitch affirms Sri Lanka Insurance Corporation at IFS BB- rating
Sep 30, 2015 (LBO) – Fitch Ratings has affirmed Sri Lanka Insurance Corporation Limited’s Insurer Financial Strength rating (IFS) at ‘BB-‘ with a Stable Outlook. The agency has also affirmed the National Insurer Financial Strength Rating and National Long-Term Rating at ‘AA(lka)’ with Stable Outlook. KEY RATING DRIVERS SLIC’s ratings reflect its well-established franchise and […]
Sri Lanka may consider IMF option: Finance Minister
Sept 30, 2015 (LBO) – Sri Lanka may consider an International Monetary Fund program option after the budget but only under our terms and conditions, Finance Minister Ravi Karunanayake told Lanka Business Online. “It will only happen on our terms,” Karunanayake said. Sri Lanka will have the option of considering bilateral lenders or an IMF […]
Textured Jersey to offer share options to employees
Sept 30, 2015 (LBO) – Sri Lanka’s Textured Jersey Lanka says it will implement an employee share option scheme (ESOS) for directors and selected executives in management positions, in a stock exchange filing. The total number of shares to be issued, if all of the share options are exercised in full, amounts to 27 million […]
Sri Lanka rupee shows mixed performance versus intl currencies
Sept 30, 2015 (LBO) – Sri Lanka’s rupee has had a mixed performance against international currencies so far this year, the central bank said. “The Sri Lankan rupee appreciated against the Australian dollar by 9.5 percent and the euro by 0.3 percent while depreciating against the Japanese yen by 6.9 percent, the pound sterling by […]
Urbanization will play a key role in Sri Lanka’s way forward: Min Hakeem
Sep 30, 2015 (LBO) – Sri Lanka’s future will be defined by the success of its management of urbanization, Rauff Hakeem, minister of City Planning and Water Supply said. “Rapid urbanization creates challenges of ensuring that development is efficiently organized and its rewards equitably distributed,” Hakeem said at the launch of a World Bank report […]
Sri Lanka’s biggest challenge of good governance is re-establishing and strengthening democracy says PM
Sep 30, 2015 (LBO) – Sri Lanka’s biggest challenge of good governance is re-establishing and strengthening democratic society in which government plans to achieve within next two years, Prime Minister Ranil Wickremesinghe told a forum on Tuesday.“Today in Sri Lanka the biggest challenge of good governance applies to all of us in terms of re-establishing […]
Sri Lanka is one of the fastest growing markets in South Asia says Huawei
Sep 29, 2015 (LBO) – As Sri Lanka is one of the fastest growing market in South Asia in smart phone segment of Chinese mobile maker, Huawei, says it plans to expand the market share though increasing distribution network targeting a revenue of 10 billion rupees by 2016. “Sri Lanka has grown to be one […]
Sri Lanka‘s tea exports fall for 12th consecutive month
Sep 29, 2015 (LBO) – Sri Lanka’s Tea exports, continued to decline in July 2015 for the twelfth consecutive month, due to lower demand from main tea buyers such as Russia and the Middle East, reflecting declines in both export volume and export prices.Tea exports recorded a drop of 14.0 percent in July this year. […]
Sri Lanka stocks up 0.10-pct: Net foreign inflow
Sep 29, 2015 (LBO) – Sri Lankan stocks closed up 0.10 percent on Tuesday after three consecutive days of losses with gains seen some index heavy, brokers said. The Colombo benchmark All Share Price Index closed up 6.74 points at7,085.38 higher 0.10 percent. S&P SL20 closed 18.62 points lower at 3,850.93 down 0.48 percent. Turnover […]
World Bank says Sri Lanka urbanisation higher than estimated
Sep 29, 2015 (LBO) – Urbanisation in Sri Lanka is higher than officially estimated with almost half the population living in urban areas, a senior World Bank official said. “Urbanization in island is close to 50 percent like the rest of world,” Ede Jorge Ijjasz-Vasquez, senior director social, urban, rural and reliance global practice […]