Category: Economy and Markets
Sri Lankan rupee edges down on importer dollar demand; stocks up
Nov 23, 2016 (Reuters) – The Sri Lankan rupee fell slightly on Wednesday due to dollar demand from importers on fears that U.S. President-elect Donald Trump’s policies would lead to a rise in rates and the greenback. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
Sri Lanka poised for a shopping spree, basic goods drive demand
Nov 23, 2016 (LBO) – Sri Lankans still demand basic products such as refrigerators and washing machines due to the country’s low penetration levels although income levels of consumers have improved significantly, an official from the consumer durables industry said. “The consumer durables industry is primarily driven by growth in disposable income, but while income levels have improved, […]
Sri Lanka balances investments across India, China and Japan: official
Nov 23, 2016 (LBO) – Sri Lanka is internationalizing key investments in infrastructure across three Asian nations India, China and Japan, a government official said. After failing to weigh competing interests in the past, observers say the current government is on the right track to develop Sri Lanka’s key infrastructure. Japan will develop the light […]
Asia stocks share some Wall St joy, US yields a burden
SYDNEY, Nov 23 (Reuters) – Asian stocks bounced to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street’s record run, while high U.S. bond yields kept the dollar well underpinned. Australia’s main index led the action with a rise of 0.9 percent to a one-month top, helped by […]
Sri Lankan rupee weaker on importer dollar demand; stocks down
Nov 22, 2016 (Reuters) – The Sri Lankan rupee was trading weaker on Tuesday due to dollar demand from importers on fears that the U.S. President-elect Donald Trump’s policies would spark higher rates and strengthen the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
PTL Watch: T-bond yields mixed, 2-year ticks higher
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Virtusa announces USD210 mln Q2 revenue, up 46.9 pct
Nov 22, 2016 (LBO) – Virtusa Corporation, a global business consulting and IT outsourcing company, with Sri Lankan founders, reported revenue for the second quarter of 210.1 million dollars, up 46.9 percent year-over-year. Net income for the second quarter was 3.2 million dollars, compared to a net loss of 6.3 million dollars for the first […]
Asian stocks ride Wall St rally, oil extends gains
HONG KONG, Nov 22 (Reuters) – Asian stocks rose on Tuesday in the wake of solid gains in U.S. markets overnight, while the Japanese yen briefly strengthened after a powerful earthquake rocked northern Japan. Oil extended gains in Asian trading with U.S. West Texas Intermediate (WTI) up 0.73 percent in early deals as the dollar […]
Sri Lanka nation-wide inflation accelerates to 5-pct in October
Nov 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose to 5.0 percent in October from the 4.7 percent reported a month ago, data from the state statistics office showed. The National Consumer Price Index (NCPI) for the month of October 2016 has been calculated as 114.7. In […]
Sri Lankan rupee falls; IMF loan caps losses
Nov 21, 2016 (Reuters) – The Sri Lankan rupee was trading slightly weaker on Monday on worries capital outflows would increase as incoming U.S. President Donald Trump’s policies were seen guiding U.S. interest rates higher and strengthening the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest […]
ADB to support infrastructure reforms, revenue is key challenge
Nov 21, 2016 (LBO) – Further structural reforms are needed to strengthen the Sri Lankan economy, which has been slow to attract private investment and is encumbered by burdensome business regulations, a new Asian Development Bank study shows. The ADB, releasing an independent evaluation report that assesses its 5.5 billion US dollar program for Sri Lanka […]
Asian shares on the defensive as U.S. yields, dollar rise
TOKYO, Nov 21 (Reuters) – Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump’s election to president could accelerate fund outflows from emerging markets. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, staying near […]