Category: Economy and Markets
Sri Lanka vulnerable to direct and indirect effects of sustained capital outflows: Moodys
Dec 15, 2016 – Sri Lanka has been named as one of the countries that have the highest vulnerability to the direct and indirect effects of sustained capital outflows, according to a new report of Moody’s Investors Service. “Overall, vulnerability to the direct and indirect effects of sustained capital outflows is highest for Mongolia, Sri […]
Hong Kong, China stocks fall after Fed rate hike
SHANGHAI, Dec 15 (Reuters) – Hong Kong stocks slumped on Thursday morning along with other Asian markets, after the U.S. Federal Reserve raised interest rates and signalled a faster-than-expected pace of policy tightening, reducing the appeal of emerging market assets. Chinese shares, with less exposure to global market volatility due to strict capital controls, dropped […]
Central Bank approves Richard Pieris, Chilaw Finance amalgamation
Dec 14, 2016 (LBO) – Sri Lanka’s Central Bank has granted approval for the amalgamation of Clilaw Finance with Richard Pieris Finance, by taking over all the assets and liabilities of Clilaw Finance. Following the approval granted by the Central Bank on 05th December, the Board of Directors of Richard Pieris Finance has approved the […]
ADB Maintains Stable Outlook for Asia Despite Global Uncertainties
Dec 14, 2016 (LBO) – Economic growth in developing Asia remains broadly stable, but a slight slowdown in India has trimmed the region’s growth outlook for 2016, says a new Asian Development Bank (ADB) report. In a supplement to its Asian Development Outlook 2016 Update report, ADB has downgraded 2016 growth to 5.6 percent, below […]
“No privatization or sell off of public assets” Ravi
Dec 12, 2016 (LBO) – The government will not privatize or sell off any of the public asset and there were no provisions made under the Budget-2017 to this effect, the Finance Minister said. “The Budget-2017 has made provision to convert the country into a manufacturing economy by converting the foreign debt into equity thereby reducing […]
Sri Lanka approves 2017 budget; aims to raise revenue through taxes
Dec 11, 2016 (Reuters) – Sri Lanka’s coalition government on Saturday won the final vote on its 2017 budget which aims to boost revenue and cut the fiscal deficit to 4.6 percent of GDP from this year’s 5.4 percent with a more than two-thirds majority. The budget, which contains some long-term reforms and measures to […]
State sponsored sanitation services bound in caste relations: report
By Aftab Lall (Centre for Poverty Analysis) State sponsored provision of sanitation services in Jaffna, Sri Lanka are tightly bound in caste relations. Both Tamil and Sinhalese society groups that find themselves at the bottom of caste hierarchy continue to face socio-economic barriers in attempts to move out of poverty. In my study site in […]
‘s deal lifts mood
Dec 08, 2016 (Reuters) – Sri Lankan shares rose on Thursday as a stake buy in Commercial Credit and Finance Plc by a unit of Thailand’s Group Lease Plc lifted the mood while foreign investors bought domestic stocks and turned net buyers so far in the year. Group Lease Holdings Pte Ltd, a subsidiary of […]
President removes 19 Sinhala leaders from a list of traitors
After 198 years, President has removed 19 Sinhala leaders including Monarawila Keppetipola from a list of traitors recognizing them as Wellassa heroes. After 198 years, I cleared the names of Wellassa heroes including Monarawila Keppetipola. pic.twitter.com/HWXD4jBxWQ— Maithripala Sirisena (@MaithripalaS) December 8, 2016
World Bank to strengthen Sri Lanka’s social safety net
Dec 07, 2016 (LBO) – The World Bank Board has approved a US 75 million dollar credit from the International Development Association (IDA) to support Sri Lanka’s main welfare programs to develop an integrated system by better managing the selection, administration, and payments to beneficiaries. The project will contribute to improving the equity, efficiency and transparency […]
Thailand to launch stock exchange for startups
Dec 06, 2016 (LBO) – Thailand is launching a new stock exchange that caters to startups, according to a report by the Nikkei Asian Review. Companies could list on the very day they are established, even without any record of earnings, Kesara Manchusree, president of the Stock Exchange of Thailand (SET) said. For most startups, […]
Ceylinco Life’s income tops Rs 17 billion in nine months
Dec 06, 2016 (LBO) – Ceylinco Life has reported total income of 17.165 billion rupees for the nine months ending 30th September 2016, reflecting growth of 15.3 per cent over the corresponding period of last year. Premium income for the nine months improved by 11 per cent to 11 billion rupees, while investment and other […]