Category: Economy and Markets
Sri Lanka rupee depreciates 2.1-pct against USD this year: Central Bank
July 23, 2015 (LBO) – Sri Lanka’s rupee has depreciated by 2.1 percent against the US dollar, during the year up to 21st July 2015, the Central Bank data showed.However, based on cross currency exchange rate movements, the Sri Lankan rupee appreciated against the euro by 10.0 per cent, the Australian dollar by 9.2 per […]
Sri Lanka’s official reserves USD 6.8bn in May 2015
July 23, 2015 (LBO) – Sri Lanka’s gross official reserves stood at 6.8 billion US dollars in May 2015, equivalent to 4.2 months of imports, while total foreign assets amounted to 8.7 billion US dollars, equivalent to 5.3 months of imports, data showed. Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in […]
Sri Lanka‘s tea exports fall for eigth consecutive month
uly 23, 2015 (LBO) – Sri Lanka’s Tea exports, which were severely affected by the lower demand from Russia and the Middle East, declined for the eight consecutive month in May 2015, recording a drop of 12.1 per cent in May 2015. Official data shows Sri Lanka exported 123.6 million US dollar worth tea in […]
‘s General Treasury lends Rs544.9mn to pay Golden Key depositors tomorrow
July 23, 2015 (LBO) – Sri Lanka’s government will provide 544.3 million rupees of tax payers money as the first tranche to start paying the much talked of “Golden Key Depositors” who invested in a ponzi scheme to get a bigger share of the failed Golden Key Credit Card Company from tomorrow (24), a statement […]
Sri Lanka’s Treasury bill yields up across maturities: Central Bank
July 22, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up across maturities at Wednesday’s auction with 12-month yield up 08 basis points to close at 6.39 percent, data from the state debt office showed. 3-month yields were up 03 basis points to close at 6.26 percent while 6-month Treasury bill yields were up […]
Sri Lanka’s ICRA assigns [SL] A+ rating with Stable outlook to Access Engineering
July 22, 2015 (LBO) – ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service has assigned an Issuer rating of [SL]A+ for Access Engineering with stable outlook on the long-term rating. Full text of the press release is reproduced below. ICRA Lanka assigns [SL] A+ with Stable […]
BRICS Development Bank To Counter Western Lenders
July 22, 2015 (LBO) – The BRICS group of emerging economies launched its New Development Bank (NDB) in Shanghai on Tuesday with the promise of more financial security to its member states and developing countries. Set up by Brazil, Russia, India, China and South Africa, it is seen by many as a counter to the […]
Sri Lanka stocks close lower 0.03-pct
July 21, 2015 (LBO) – Sri Lanka’s stocks closed lower 0.03 percent on Tuesday with low investor activity, brokers said. The Colombo benchmark All Share Price Index closed 2.27 points lower at 7,145.59 down 0.03 percent. The S&P SL20 closed 2.38 points lower at 4,005.14 down 0.06 percent. Turnover was 334.8 million rupees, down from […]
6% GDP growth in 2015, a challenge; comparing rebased numbers technically wrong: CB
July 21, 2015 (LBO) – Sri Lanka’s Deputy Governor of the Central Bank says it would be difficult to maintain a 6 percent growth this year.“Looking at the last year’s quarter two, three and four growth rates which were higher or increasing; which means it’s a higher base,” “So it would be a challenge for […]
Sri Lanka needs to minimize tax exemptions to broaden tax base: Central Bank
July 21, 2015 (LBO) – Sri Lanka needs to minimize tax exemptions and improve direct taxation in order to broaden the tax base, Deputy Governor of the Central Bank said.“If you look at the tax exemptions, there are a large number of tax exemptions.” Deputy Governor Dr. Nandalal Weerasinghe said. Island’s Inland Revenue Act contains […]
Sri Lanka stocks close down 0.2-pct
July 20, 2015 (LBO) – Sri Lanka’s stocks closed down 0.20 percent on Monday with investors taking profit from the market, brokers said. The Colombo benchmark All Share Price Index closed 14.10 points higher at 7,147.86 down 0.20 percent. The S&P SL20 closed 6.23 points higher at 4,007.52 down 0.16 percent. Turnover was 646.7 million […]
Gold, platinum prices drop to 5 year low with speculation over US interest rate rise
July 20, 2015 (LBO) – World gold prices have fallen to its lowest in more than five years in anticipation of a US interest rate rise this year, foreign media reported.The price has fallen four percent to as low as $1,088.05 an ounce in Asian trade, the lowest since March 2010.“Talks of US interest rate […]