Category: Economy and Markets
Sri Lanka’s LOLC Finance to get a new CEO
Sep 21, 2015 (LBO) – Sri Lanka’s LOLC finance, a subsidy of Lanka Orix Leasing Company appointed Ashan Nissanka as its chief executive, the company said in a stock exchange filing.He will be taking the new office from 15th October this year.Nissanka has a masters degree from Edith Cowan University, Australia and is a member […]
Asian markets lower on Fed intransigence, Tsipras wins Greece election
Sept 21, 2015 (LBO) – Asian shares fell on Monday following weaker U.S. markets on Friday after the U.S. held interest rates unchanged citing global growth concerns. The Australian ASX 200 has plunged 2.5 percent, Shanghai is down 0.59 percent and the Hang Seng is 1.33 percent lower. This follows a fall in U.S. markets […]
IMF says Sri Lanka monetary policy appropriate, aim for tightening bias
Sept 20, 2015 (LBO) – The International Monetary Fund believes Sri Lanka’s current monetary policy stance to be appropriate and the central bank should look to tighten monetary policy in the future, it said in a statement.“The mission found the overall financial system stable and current monetary stance appropriate – but recommended vigilance given rising […]
Expert view: Sri Lanka needs a global economic strategy, says Razeen Sally
A NEW GLOBAL ECONOMIC STRATEGY FOR SRI LANKA Razeen Sally Sri Lanka desperately needs a new global economic strategy, and that is what the government has promised. But this is not just about dry economics: it must be part of a broader strategy for national renewal. Sri Lanka needs a decisive shift to markets and […]
Asiri Hospital to sell shares to Actis Investment, up stake in Central Hospital
Sep 19, 2015 (LBO) – Asiri Hospital Holdings will sell new shares to Actis Investment Holdings, a private equity firm, for 845.7 million rupees, the company said in a statement. The funds will be used to raise its stake in Central Hospital from 68 percent to 99.7 percent, the company said in a stock exchange […]
Sri Lanka economy to grow 5.5-pct through end 2015; inflation 3-pct: IMF
Sep 18, 2015 (LBO) – Sri Lanka’s economic growth is likely to continue in the range of 5 to 5.5 percent through end 2015, driven by strong growth in services and a recovery in agricultural output, the IMF mission said. IMF mission led by Todd Schneider who visited the island recently to conduct Post-Program Monitoring […]
Alibaba falls below IPO price in New York Stock Exchange
Sep 18, 2015 (LBO) – The Chinese e-commerce giant Alibaba’s shares in the New York Stock Exchange have fallen below its initial offering price. Twelve months ago, Alibaba’s IPO priced at 68 US dollars, raised 21.8 billion US dollars for the company and made it the biggest IPO in US history. The share surged more […]
Sri Lanka stocks close down 0.08-pct: JKH losses
Sep 18, 2015 (LBO) – Sri Lankan stocks closed down 0.08 percent on Friday with low investor activity and losses in John Keells Holding, brokers said. The Colombo benchmark All Share Price Index closed down 5.64 points at 7,107.87 lower 0.08 percent. S&P SL20 closed 7.94 points higher at 3,893.02 up 0.20 percent. Turnover was […]
Sri Lanka’s Commercial Bank to explore Maldives expansion
Sep 18, 2015 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is planning on setting up a banking subsidiary in the Republic of Maldives in partnership with a Maldivian company, the bank said in a stock exchange filing.“We are delighted to receive a licence to operate a fully-fledged banking subsidiary in the Maldives,” Commercial Bank’s Managing […]
Sri Lanka’s cabinet decides policy on advisors
Sep 18, 2015 (LBO) – Sri Lanka’s Cabinet of Ministers has decided on policy with regard to appointment of advisors to the Cabinet and payment of their allowances, media spokesman, Minister Rajitha Senaratne had said.The government consideration would only be given to appoint eminent persons with wide knowledge on the subject matters, advice which cannot […]
Asian stocks mixed following Fed decision to hold rates
Sep 18, 2015 (LBO) – Asian markets traded mixed after the US Federal Reserve kept interest rates unchanged. Japan’s Nikkei 225 index was down 1.5 percent to 18,164.41 in morning trade. Chinese shares, Shanghai Composite index was up 0.8 percent to 3,111.13, while Hong Kong’s Hang Seng index was up 0.4 percent to 21,933.95 in early trade. South […]
No change! US holds interest rates unchanged
Sept 18, 2015 (LBO) – The U.S. held interest rates steady on Thursday after a two-day monetary policy meeting citing low inflation and uncertain global economic growth. The yield on 10-year U.S. Treasuries fell to 2.23 percent from 2.30 percent the previous day. The S&P index closed down 0.26 percent, while the Nikkei is now down […]