Category: Economy and Markets
Sri Lankan rupee edges down on mild importer dollar demand
COLOMBO, Dec 19 (Reuters) – The Sri Lankan rupee slipped on Monday on mild importer dollar demand, as the market braced for declines in the local currency with the central bank raising the spot reference rate following a hike in U.S. interest rates, dealers said. The U.S. Federal Reserve raised interest rate by 25 basis […]
Sri Lanka govt revenue up 23-pct: Finance Ministry
Dec 19, 2016 (LBO) – Sri Lanka’s Finance ministry says that state revenue has increased by 23 percent during the first nine months of this year compared with the same period in 2015. “Accordingly, the state revenue in the first nine months of 2016 rose to 1,180 billion rupees from the 959 billion rupees earned […]
PTL Watch: Wide quotes, less participation in bonds
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‘s
Dec 19, 2016 (LBO) – Moody’s Investors Service says that Sri Lanka’s (B1 negative) program with the International Monetary Fund (IMF) has helped stabilize the balance of payments and established an ambitious roadmap to fiscal consolidation and structural reform. The investors service however says sustained implementation of reforms will be challenging. The 2017 budget confirms the […]
‘s visit
Dec 19, 2016 (LBO) – Malaysia and Sri Lanka will consider the possibility of free trade agreement, a joint statement said, after the official visit of President Maithripala Sirisena to Malaysia. President Maithripala Sirisena was on a visit to Malaysia last week at the invitation of Malaysia’s Prime Minister Abdul Razak, during which five memoranda […]
Asia stocks find relief as China set to return seized US drone
TOKYO, Dec 19 (Reuters) – Asian shares steadied in early trade on Monday after China agreed to return a U.S. drone it had seized, easing worries about rising diplomatic tensions between the world’s two biggest economic powers. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent after falling to its lowest […]
Sri Lankan shares hit more than 2-wk closing low led by banks
Dec 16, 2016 (Reuters) – Sri Lankan shares fell for a third straight session on Friday to close at their lowest in more than two weeks, as a dollar rally to a 14-year peak after an interest rate increase by the U.S. Federal Reserve earlier this week kept investors subdued. The 25-basis-point rate increase could […]
Sri Lankan rupee closes steady; state-controlled bank sells dollars
Dec 16, 2016 (Reuters) – The Sri Lankan rupee came off early falls to close almost steady on Friday as a state-controlled bank sold dollars, dealers said. The rupee is still under pressure as banks bought the greenback after the central bank raised the spot reference rate on Thursday and the U.S. Federal Reserve on […]
US Millennium Challenge selects Sri Lanka for 5-Year grant
Dec 16, 2016 (LBO) – Sri Lanka has been selected for the US Millennium Challenge Corporation’s (MCC) new five-year grant compact which aims at encouraging economic growth and reduce poverty. At its quarterly meeting on December 13, 2016, the MCC’s Board of Directors selected Sri Lanka, Burkina Faso and Tunisia for these new MCC compacts, […]
‘s economy grew 4.1-pct in third quarter
Dec 15, 2016 (LBO) – Sri Lanka’s economy grew 4.1 percent in the third quarter of 2016 with strong growth construction, a statement said. “During the third quarter of 2016, industrial activities recorded a significant increase in overall growth rate, at 6.8 percent, while the services activities have grown by 4.7 percent, compared to the […]
Teejay Lanka replaces Ceylinco Insurance in new S&P SL20 rebalance
Dec 15, 2016 (LBO) – Colombo Stock Exchange today announced changes to the S&P Sri Lanka 20 index made by S&P Dow Jones Indices at the 2016 annual index rebalance. As announced by S&P Dow Jones Indices, effective from 19 December 2016 (after the market close), Ceylinco Insurance will be removed from the S&P Sri […]
Colombo Stock Exchange lifts trading ban on Brac Lanka Finance
Dec 15, 2016 (LBO) – Sri Lanka’s securities watchdog, the Securities & Exchange Commission has instructed the Colombo Stock Exchange to lift the trading ban imposed on Brac Lanka Finance. The SEC earlier imposed a trading suspension on Brac Lanka Finance under section 246 of the Companies Act. The securities regulator thereafter specified a procedure […]