Category: Economy and Markets
European Investment Bank in EUR50mn Colombo water network expansion
Jan 24, 2016 (LBO) – The European Investment Bank will provide EUR 50 million to support improvement and expansion of sewage networks across the Sri Lankan capital Colombo. “The new loan will help Colombo Municipal Council to achieve its goal of providing full sanitation coverage to benefit people living and working in the greater Colombo […]
Sri Lanka nation-wide inflation steady at 4.2 pct in December
Jan 23, 2017 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose at a steady pace of 4. 2 percent in December from the 4.1 percent reported a month ago, data from the state statistics office showed. The Department of Census and Statistics said the NCPI has been calculated as […]
Over one million Sri Lankans affected by drought
Jan 23, 2017 (LBO) – Sri Lankans have been warned to conserve water and electricity with over a million persons affected so far by drought as crop output decreases and shortages of drinking water are being reported, officials said. Officials at the disaster information center say over a million person have so far been affected […]
Central Bank says internal & external probe on 2015/16 EPF operations
Jan 23, 2017 (LBO) – Sri Lanka’s Central Bank said an internal examination is currently underway under the direction of the Monetary Board on transactions of EPF in government securities during 2015 and 2016. Releasing a statement, Secretary to the Monetary Board of Central Bank said the law enforcement authorities have also been requested to […]
PTL Watch: Yields tick higher, foreigners on sell side
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/01/PTL-Daily-Market-Report-23rd-January-2017.pdf” title=”PTL Daily Market Report 23rd January 2017″]
Sri Lankan rupee down on importer dollar demand
Jan 23, 2017 (Reuters) – The Sri Lankan rupee fell on Monday as the importer dollar demand surpassed modest greenback sales by exporters, dealers said. Rupee forwards were active, with two-week forwards trading at 150.90/151.10 per dollar at 0522 GMT, compared with Friday’s close of 150.85/00. The dollar, however, traded weaker against major currencies on […]
‘s protectionist address
TOKYO, Jan 23 (Reuters) – The dollar slipped and Asian shares were on the defensive on Monday as worries about President Donald Trump’s protectionist policies outweighed optimism that he will follow through on promises of tax cuts and other stimulus. Japan’s Nikkei dropped 1.3 percent while shares in South Korea and Australia dropped 0.3 percent, […]
IMF commends Sri Lanka on economic progress made so far
Jan 23, 2017 (LBO) – The International Monetary Fund (IMF) has commended the new strategy of Sri Lankan government to create financial discipline and lead the country in a correct path to economic development. Managing Director of the International Monetary Fund Christine Lagarde said she highly values the Sri Lankan Government’s dedication to take the […]
Sri Lanka President to appoint committee to investigate bond scam
Jan 23, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena said he would appoint a commission to investigate and recommend actions for an alleged bond issue scam in early 2015. “I will appoint a Special Presidential Commission of Inquiry this week to investigate the Central Bank bond issue and recommend actions,” President Maithripala Sirisena tweeted. […]
Sri Lankan shares end higher on foreign buying
Jan 20, 2017 (Reuters) – Sri Lankan stocks closed higher on Friday led by financials, after hitting a more than one-week closing low in the previous session, on increased appetite for risky assets by foreign investors. The Colombo stock index ended up 0.08 percent at 6,169.57, edging up from its lowest close since Jan. 10 […]
‘s Swarnamahal Financial Services transferred to default board
Jan 19, 2017 (LBO) – Sri Lanka’s Swarnamahal Financial Services (SFS) has been transferred to default board with with immediate effect following the Securities and Exchange Commission directive on prohibiting related party transactions, a statement said. “In view of several significant issues (which are set out in the SEC directive dated 18th January 2017), the SEC has requested the CSE […]
Sri Lanka president advises officials to brace for impending drought
Jan 19, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena has held a discussion to look into the preparations at ministerial level to provide essential relief to the public during the impending drought. A special committee comprising secretaries of the ministries of power and energy, mahaweli and water supply has been appointed to make quick […]