Category: Economy and Markets
Sri Lanka JKH’s Cinnamon Life has 40 pct of residential tower prebooked: Official
Sep 23, 2015 (LBO) – Sri Lanka’s blue-chip John Keells Holdings said that its 850 million US dollar mixed development project “Cinnamon Life” has already started selling apartments in its integrated resort under the concept of live, work and play. “We call it a city-within-a-city which will have office space, shopping, dining, entertainment, playing area, apartment and […]
Asian stocks hit by falling commodity prices in US
Sep 23, 2015 (LBO) – Asian stocks hit a negative in early Wednesday trade following a major U.S. averages crashed more than 1 percent overnight, foreign media reports showed. Commodity prices hit two-week lows on Tuesday, with U.S. crude oil down to 45.83 US dollars a barrel. Chinese shares dipped ahead of the key factory activity data […]
Germany to help revive GSP+ for Sri Lanka: Visiting Foreign Minister
Sep 23, 2015 (LBO) – Germany would lead the European Union to revive the GSP+ relief for Sri Lanka, the German Foreign Minister said in a statement. “I will take action in that regard, in coordination with the Foreign Ministry of Sri Lanka,” Frank Steinmeier, foreign minister of Germany said when he called on President […]
Germany can utilize Sri Lanka’s skilled labour force: Foreign Minister
Sep 22, 2015 (LBO) – Sri Lanka’s Foreign Minister said more German companies should invest in Sri Lanka and take advantage of the islands skilled labour force and regional ties, during the visit of his German counterpart. “Now that Volkswagen is in, other German companies are taking an interest in Sri Lanka,” Mangala Samaraweera, Minister […]
Sri Lanka Treasury bill yields mixed
Sep 22, 2015 (LBO) – Sri Lanka’s 12-month Treasury bill yields were up at Tuesday’s auction while the 3-month yields were down, data from the state debt office showed. The 3-month yields were down by one basis point to 6.78 percent, and the 12-month yields rose one basis point to 7.18 percent. The 6-month yields […]
Sri Lanka stocks close up 0.2-pct on three week high: Poultry gains
Sep 22, 2015 (LBO) – Sri Lankan stocks closed up 0.20 percent on Tuesday with gains in John Keels Holdings and poultry stocks, brokers said. The Colombo benchmark All Share Price Index closed up 14.01 points at 7,118.38 higher 0.20 percent. S&P SL20 closed 17.98 points higher at 3,899.02 up 0.46 percent. Turnover was […]
ICRA Lanka assigns BBB+ rating with stable outlook to Dunamis Capital
Sep 22, 2015 (LBO) – ICRA Lanka Limited has assigned the Issuer rating of BBB+ with a stable outlook to Dunamis Capital. ICRA Lanka has also assigned the [SL]BBB+ (pronounced SL Triple B plus) rating to the existing LKR 1,000 Mn Senior Unsecured Redeemable Debenture programme and the proposed LKR 1,000 Mn Senior Unsecured Redeemable […]
Sri Lanka and Vietnam shares highest corporation foreign debt in Asia: ADB
Sep 22, 2015 (LBO) –Corporations in Indonesia, Sri Lanka, and Vietnam have the highest share of foreign currency debt in developing Asia, the Asian Development Bank said in a report.“Firms in the energy sector tend to have a substantial portion of their borrowings in foreign currency,” ADB said in its report. “Typically, the corporations that […]
Asian stocks rebound following gains in US and Europe
Sep 22, 2015 (LBO) – Asian indices rebounded after heavy losses Monday following gains made in Wall Street as well as European stocks, foreign media reports said. Chinese markets opened higher, with the Shanghai Composite up 0.88 percent to 3,184 points while Hong Kong’s benchmark Hang Seng index gained 0.77 percent. Korea’s benchmark Kospi […]
Monetary Policy should focus on Price Stability: IMF Study
Sep 21, 2015 (LBO) – Monetary policy should stick to its core mandate of price stability, and should deviate from its traditional role only if the benefits to the economy outweigh the costs, a new IMF study showed. Based on current knowledge, the case for using monetary policy to contain risks to financial stability—commonly referred to […]
Sri Lanka stocks close down 0.05-pct: Low investor activity
Sep 21, 2015 (LBO) – Sri Lankan stocks closed down 0.05 percent on Monday with low investor activity and losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 3.50 points at 7,104.37 lower 0.05 percent. S&P SL20 closed 2.49 points lower at 3,883.22 down 0.06 percent. Turnover was […]
Debt report: Sri Lanka market watchful after IMF comments
Sept 21, 2015 (LBO) – Sri Lanka’s debt market was watchful on Monday after International Monetary Fund remarks that the central bank could adopt a tightening bias. The bond market cramped up with thin trading, dealers said, as secondary yields of five year bonds ticked up slightly by 5 basis points. On Friday, the IMF […]