Category: Economy and Markets

lanka-colombo

‘s 2017 economic growth to be 5.5-6.0 pct: Central Bank chief

Jan 03, 2017 (Reuters) – Sri Lanka economy is expected to expand between 5.5 percent and 6.0 percent in 2017, higher than last year’s estimated pace of at least 4.5 percent, central bank governor Indrajith Coomaraswamy said on Tuesday. However, there could be some downside risks facing growth this year, Coomaraswamy told a gathering in […]

Sri Lanka Foreign Reserves increase to USD6 Bln in 2016: CB

Sri Lanka Foreign Reserves increase to USD6 Bln in 2016: CB

Jan 03, 2016 (LBO) – Sri Lanka’s foreign reserves were around six billion dollars at the end of 2016, up from 5. 64 billion dollars at the end of November, the Central Bank said on Tuesday. The increase was due to swap arrangements and 200 million dollars from Japan and the World Bank as budgetary […]

rupee

Sri Lankan rupee edges down ahead of cenbank policy statement; stx fall

Jan 03, 2017 (Reuters) – The Sri Lankan rupee edged down in thin trade on Tuesday amid worries over slowing foreign fund inflows, even as market players awaited central bank’s key policy statement later in the day, dealers said. Rupee forwards were active, with one-month forwards quoting at 151.00/15 per dollar at 0558 GMT, compared […]

child

Sri Lanka’s prosperity improved in 2015 from previous year: Central Bank

Jan 03, 2017 (LBO) – Sri Lanka’s prosperity has improved to 0.864 in 2015 from 0.804 in the previous year, the Central Bank statistics showed, as measured by the Sri Lanka Prosperity Index (SLPI). The SLPI is a composite indicator that measures and compares the level of prosperity of the country and across its provinces. […]

Sri Lankan shares fall as John Keells Holdings draws selling

Sri Lankan shares fall as John Keells Holdings draws selling

Jan 02, 2017 (Reuters) – Sri Lankan shares fell on the first trading day of 2017 as investors sold market heavyweight John Keells Holdings Plc and other blue chips amid worries over a weakening rupee and rising interest rates. Conglomerate John Keells Holdings Plc fell 3. 5 percent and accounted for 67. 6 percent of […]

Supun Weerasinghe appointed as group CEO of Dialog Axiata

Supun Weerasinghe appointed as group CEO of Dialog Axiata

Jan 02, 2017 (LBO) – Sri Lanka’s telecommunications blue chip Dialog Axiata today informed the stock exchange that Supun Weerasinghe has been appointed as the Group CEO with effect from yesterday. Dialog Axiata said the board of directors of the company approved the appointment of Weerasinghe as an executive director of the Company. “Weerasinghe presently […]

rigid

Sri Lanka’s largest fully integrated tire plant to be built with Rs11.25bn

(Press Release) – Rigid Tyre Corporation (Pvt.) Ltd. Equipped with the latest technology, this new plant is destined to roll in a new page in the industrial sector of Sri Lanka. It comes with the healthy integration of political acumen, local entrepreneurship and proven European technology in the form of a world reputation –Marangoni of […]

Ravi Karunanayake

Economic development with thrust on education: Finance Minister

Jan 02, 2017 (LBO) – Sri Lanka’s Minister of Finance Ravi Karunanayake says there will be sustained economic development in the new year with a thrust on education spending. A new health insurance policy and more infrastructure spending are among the significant proposals being implemented in education, he said. Over 4.5 million children between the […]

China steps up scrutiny on individual forex purchases in the new year

China steps up scrutiny on individual forex purchases in the new year

SHANGHAI, Jan 1 (Reuters) – China’s foreign exchange regulator said that, starting Jan. 1, 2017, it will step up scrutiny on individual foreign currency purchases and strengthen punishment for illegal money outflows, but the $50,000 annual individual quota will remain unchanged. The announcement by the State Administration of Foreign Exchange (SAFE) late on Saturday comes […]

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