Category: Economy and Markets
Sri Lankan banks likely to come under capital pressure from Basel III: Fitch
Jun 07, 2017 (LBO) – Sri Lankan banks are likely to come under increased capital pressure from Basel III-related requirements, Fitch Ratings said in a statement. “We expect most banks will have to raise capital to meet the higher requirements, particularly if they are pursuing rapid growth,” it said. “The sector’s capital needs could be […]
Sri Lanka trade gap widens 34-pct in March
June 07, 2017 (LBO) – Sri Lanka’s trade gap has widened 34.1 percent to 827.5 million US dollars in March from a year earlier, official data from the Central Bank showed. The cumulative trade deficit in the first quarter of 2017 has increased 35 percent to 2,505 million dollars from the same period last year. […]
CSE to include non‐voting shares in index market cap calculation
Press Release: The Colombo Stock Exchange (CSE) announces the inclusion of non‐voting shares which are listed and traded on the exchange in its Index Market Capitalization (IMC) calculation. Including nonvoting shares in the calculation of indices is seen as a common practice internationally, and is carried out by a number of leading exchanges and index […]
PTL Watch: Sri Lanka treasury bond yields mixed
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/06/PTL-Daily-Market-Report-06th-June-2017.pdf” title=”PTL Daily Market Report 06th June 2017″]
Central Bank denies banks stopped from accepting Qatari Riyals
June 06, 2017 (LBO) – Sri Lanka’s Central Bank on Tuesday categorically denied that the Central Bank has informed banks not to accept Qatari Riyals. Releasing a press release, the Central Bank stated that various media institutions had published reports stating that the Central Bank has informed banks not to accept Qatari Riyals. There were […]
Sri Lanka growth to accelerate to 4.7-pct in 2017: World Bank
June 05, 2017 (LBO) – Sri Lanka’s growth is forecast to accelerate to a 4.7 percent rate in 2017 and 5 percent in 2018, a new World Bank report says. According to the World Bank’s June 2017 Global Economic Prospects growth will happen as international financial institution programs support economic reforms and boost private sector competitiveness. […]
Sri Lanka video showing rice as containing plastic is false: ministry
June 05, 2017 (LBO) – Sri Lanka’s Ministry of Industry and Commerce says a Youtube video that has gone viral which shows cooked rice as containing plastic is false. “The video shows that some basmati rice purchased from Pitakotte outlet of Lanka Sathosa not becoming stale (like other Basmati rice varieties) even after 24 hours […]
Sri Lanka vehicle registrations drop in April: JB Securities
Jun 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka fell to 33,438 units in April from 40,021 in March, with declines in all major categories except three-wheelers and tractors, JB Securities said in a research note, likely affected by the holiday season. Three-wheelers observed a 12 percent growth, month-on-month, to 1,452 units in […]
‘s Global Economy Programme
Jun 02, 2017 (LBO) – Sri Lanka’s foreign policy think tank Lakshman Kadirgamar Institute has signed a memorandum of understanding with the MJF Group to establish a Global Economy Programme to focus on international trade, foreign investment, and tourism. The establishment of the programme at LKI reflects the increasingly key role of economic diplomacy in Sri […]
Opinion : Building the future, infrastructure in ASEAN and South Asia
By Anna Marrs ASEAN and South Asia are building infrastructure at an unprecedented rate. Anyone who travels the capital cities of this region knows it for a fact. Roads, railroads, bridges, ports and metros. All this construction is transforming the city centres and areas of economic activity, and the lives of 2.4 billion people. It […]
Sunshine Holdings records strong growth despite challenging market condition, Revenue up 10.3-pct
(PRESS RELEASE) • PAT improves sharply by 33.1% YoY to Rs. 1.6 billion • Healthcare revenue up 9.8% YoY to Rs 7.9 billion revenue • Agri revenue grew 3.2% YoY to Rs. 6.5 billion • FMCG revenue grew 22.5% YoY to Rs. 4.2 billion May 31, 2017: Sunshine Holdings PLC posted consolidated revenues of Rs. […]
Sri Lanka to obtain USD200mn loan from Pakistan
Jun 01, 2017 (LBO) – Sri Lanka’s cabinet has approved obtaining of a loan worth 200 million dollars from Pakistan for the financing of priority development projects. The loan will be utilized for housing construction, development of livestock, importing equipment required for agriculture and dairy production, and development of the Industrial Technology Institute. Former Finance […]