Category: Economy and Markets
Sri Lankan rupee weaker on foreign bank dollar demand
Jan 18, 2017 (Reuters) – The Sri Lankan rupee traded weaker on Wednesday due to importer dollar demand, after sales by foreign banks had helped the U. S. currency to edge up in the previous two sessions, dealers said. The rupee has been under pressure due to rising imports and net selling of government securities […]
‘s industrial output up 4.5-pct in November
Jan 18, 2017 (LBO) – Sri Lanka’s Index for Industrial Production (IIP) shows volume of industrial production rose 4.5 percent in November 2016 when compared with the same period last year, a statement said. According to the island’s Census and Statistics Department, manufacturing of food products is the major contributor at a total industrial value […]
‘s Brexit speech; stocks slip
HONG KONG, Jan 18 (Reuters) – The British pound consolidated gains on Wednesday after posting its biggest rise in nearly two decades in the previous session, while Asian stocks are set to drift lower following a weak Wall Street. Sterling saw its biggest daily rise since at least 1998 on Tuesday as Prime Minister Theresa […]
Prime Minister meets Chinese President at World Economic Summit
Jan 18, 2017 (LBO) – Prime Minister Ranil Wickremesinghe today met Chinese President Xi Jinping on the sidelines of the World Economic Summit to be held in Davos City from 17th to 21st January. The Prime Minister attended the World Economic Summit on invitation last year too. Leaders of nearly 40 countries are scheduled to attend the 2017 […]
Sri Lankan shares end lower; heavyweights down
Jan 17, 2017 (Reuters) – Sri Lankan stocks closed lower on Tuesday for a second straight session as investor sentiment took a hit on political uncertainty and as yields on short-term bonds rose. The Colombo stock index ended 0.24 percent weaker at 6,186.52, stepping away from its highest close since Dec. 30 hit on Friday, […]
PTL Watch: Bond yields flat, further repo auctions
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/01/PTL-Daily-Market-Report-17th-January-2017.pdf” title=”PTL Daily Market Report 17th January 2017″]
‘ dollar sales
Jan 17, 2017 (Reuters) – The Sri Lankan rupee traded marginally higher on Tuesday in light volume as foreign banks sold dollars, but the market expects the currency to weaken after the central bank allowed flexibility in the exchange rate, dealers said. The rupee has been under pressure due to rising imports and net selling […]
‘s speech on Brexit stance
TOKYO, Jan 17 (Reuters) – Asian stocks and the pound sagged on Tuesday as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union, which traders fear will see Britain lose access to the bloc’s single market. Britain will not seek a Brexit deal that leaves it […]
Coca-Cola eyes Sri Lanka for production facility: Fin Min
Jan 17, 2017 (LBO) – International beverage company Coca-Cola has expressed their interest in setting up a production hub in Sri Lanka, the Finance Ministry said in a statement. President of Coca-Cola Asia Pacific John Murphy and Executive Vice President Irial Finan met Finance Minister Ravi Karunanayake and discussed the opportunity of producing some of the Coca-Cola […]
Sri Lankan shares end lower on rising rates
Jan 16, 2017 (Reuters) – Sri Lankan stocks closed lower on Monday as investors sold financials after rising yields in short-term government securities hit sentiment, brokers said. The Colombo stock index ended 0.26 percent weaker at 6,201.65, slipping from its highest close since Dec. 30 hit on Friday. Shares gained on Friday after the European […]
‘s JKH files patent on energy storage nanomaterial
Jan 16, 2017 (LBO) – Sri Lanka’s John Keells Holdings plc filed its first patent jointly with the Council for Scientific and Industrial Research (CSIR) India, in the area of energy storage materials, the company said in a statement. The patent application filed at an Indian patent office in December 2016 is related to a […]
Sri Lankan rupee edges up on dollar sales; stx down
Jan 16, 2017 (Reuters) – The Sri Lankan rupee edged higher on Monday as foreign banks sold dollars, but the market expects the currency to weaken after the central bank allowed flexibility in exchange rate, dealers said. The rupee has been under pressure due to rising imports and net selling of government securities by foreign […]