Category: Economy and Markets
IMF has not made budget proposals: Finance Minister
Sep 10, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that no budget proposals have been made by the visiting mission from the International Monetary Fund who met him on September 09 ahead of the budget in November.“IMF comes on a normal routine but we have very clearly told them that we will […]
Sri Lanka stocks close down 0.3-pct; Asian markets lower
Sep 10, 2015 (LBO) – Sri Lankan stocks closed down 0.32 percent on Thursday following losses in regional markets with telecom and beverage sector stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed down 23.31 points at 7,159.94 lower 0.32 percent. S&P SL20 closed 12.83 points lower at 3,924.25 down […]
Sri Lanka falls on Open Budget Index 2015, says Verité
Sep 10, 2015 (LBO) – Sri Lanka has ranked among countries in the world that provides the public with minimal budget information, a new survey showed.International Budget Partnership released its latest survey which measures the state of budget transparency, participation, and oversight in 100 countries around the world. The Open Budget Index measures the level […]
‘s stock crash a direct result of authoritarian policies: Razeen Sally
Sept 10, 2015 (LBO) – China’s stock bubble and subsequent crash that sent shockwaves across the global economy is the direct result of authoritarian policies, Razeen Sally from the National University of Singapore told Lanka Business Online.“The stock bubble is the direct result of government policies because the state-run financial system has few other profitable […]
Emerging market central bankers want Fed to raise rates: report
Sept 10, 2015 (LBO) – Central bankers in emerging markets want the US Federal Reserve to increase interest rates sooner rather than later to end market uncertainty.Central bankers in Indonesia, Peru and Mexico have commented that a rate hike at the September 16-17 or October Fed meetings would be good for their economies.“We think US […]
Sri Lanka hoteliers cannot work in isolation, says Keells Deputy Chairman
Sep 10, 2015 (LBO) – Sri Lanka hoteliers alone cannot make the industry to grow but with collaboration we can, Ajit Gunewardene, deputy chairman of John Keells Holdings said. “Tourism is a massive industry and we have barely begun. Before we destroy what is great, we believe this is the time to create something unique […]
Govt increases taxes on sugar and potatoes
Sep 09, 2015 (LBO) – Sri Lanka increased the import tax on potatoes by 10 rupees per kilogram and commodity levy of imported sugar by 12 rupees today. online pharmacy with best prices today in the USA online pharmacy https://pharm.iiui.edu.pk/wp-content/themes/twentytwentytwo/templates/html/augmentin.html no prescription However controlled price remain unchanged at 95 rupees for packed sugar. Potato tax […]
Sri Lanka stocks close up 0.8-pct; More retail activity
Sep 09, 2015 (LBO) – Sri Lankan stocks closed up 0.83 percent on Wednesday with index heavy and banking sector stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 58.79 points at 7,183.76 higher 0.83 percent. S&P SL20 closed 22.94 points lower at 3,937.55 up 0.59 percent. Turnover was 647 […]
Interview: SriLankan to fly more to India, Japan, China; eyes profitability next year
Sep 09, 2015 (LBO) – The national carrier SriLankan Airlines is planning to cut some unprofitable routes and expand to India, Japan and China, Ajith Dias, chairman of the airline told Lanka Business Online. “We are now rationalizing our fleet and rationalizing where we are going. We are increasing our flights to China, because our […]
Fitch to host Sri Lanka Investment Fund & Asset Management Forum
Sep 09, 2015 (LBO) – Fitch Ratings Lanka is to host its inaugural Investment Fund and Asset Management Forum next week, the rating agency said. Leading market participants, including issuers, investors, and bankers, will gather to listen to Fitch’s senior analysts, external guest speakers and panelists discuss developments in the asset management industry globally – […]
Sri Lanka stocks open up 0.2-pct as investor sentiment changes
Sep 09, 2015 (LBO) – Sri Lanka’s stocks opened 0.19 percent, Wednesday with investor sentiment changing and John Keells Holdings making gains in morning trade, brokers said. The Colombo benchmark All Share Price Index opened up 13.67 points at 7,138.09 up 0.19 percent. John Keells Holdings is trading at 175.90 rupees, up 0.70 rupees. “JKH […]
Sri Lanka’s John Keells to double hotel rooms over next 5 years
Sep 09, 2015 (LBO) – Sri Lanka’s John Keells Holdings plans to double its current 2,200 room capacity in the next 5 years, Ajit Gunewardene, the deputy chairman said.This includes the 800 rooms of Cinnamon Life iconic that the group is building. “By the middle of next year we would be constructing approximately 400 to […]