Category: Economy and Markets
Finance Minister obtains proposals for budget from Ceylon Chamber
Oct 18, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake recently met with the committee members of the Ceylon Chamber of Commerce to obtain their views on the upcoming Budget presentation. The discussion was chaired by Chairman of the Chamber Samantha Ranatunga and each committee member was given an opportunity to express their views […]
Asian stocks lifted by firmer oil prices; dollar steady
HONG KONG, Oct 18 (Reuters) – Asian stocks crept up on Tuesday thanks to a rebound in oil prices and the dollar consolidated recent gains although underlying risk appetite was cautious on concerns over capital outflows and weak data, especially from China. Special focus will be on China’s B Share market, which was trading up […]
Sri Lankan rupee steady for third session; stocks down
Oct 17, 2016 (Reuters) – The Sri Lankan rupee was steady for a third straight session on Monday as dollar demand from importers offset exporter sales of the U.S. currency in the absence of central bank intervention, dealers said. The spot rupee was steady at 146.90/95 per dollar at 0633 GMT. However, dealers continue to […]
Sri Lanka exports, imports decline; BOP in surplus
Oct 17, 2016 (LBO) – Sri Lanka’s exports fell 4.4 percent to 891.2 million US dollars in July, while imports also fell at a faster 6.6 percent to 1,432.8 million US dollars from a year earlier, official data showed. The trade gap shrank 10 percent to 541.6 million US dollars from a year earlier. Exports […]
New opportunities for Sri Lankan companies in India
Oct 17, 2016 (LBO) – There are new opportunities for Sri Lankan companies in India, with several internal changes going on in the country, an official of a visiting Indian business delegation said. “Within India, there are so many economic changes that could be advantageous for Sri Lanka. What is important is that this is […]
Monetary Board considers interim report on Primary Dealers
Oct 14, 2016 (LBO) – The Monetary Board, at a special meeting on Friday, considered an interim report on the operations of primary dealers, including their financial performance during last year and the current year. “It noted with concern the sharp disparity in the performance of primary dealers, as well as certain issues related to […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Oct 14, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue rated, unsecured, subordinated, redeemable debentures worth 5.0 billion rupees with an option to go up to 7.0 billion rupees. The proposed […]
Sri Lankan rupee steady; importer dollar demand offsets exporter sales
Oct 14, 2016 (Reuters) – The Sri Lankan rupee traded steady on Friday for a second straight session as dollar demand from importers offset exporter sales of the U.S. currency in the absence of central bank intervention, dealers said. The spot rupee was steady at 146.90/95 per dollar at 0546 GMT. Rupee forwards were not […]
PTL Watch: Bond yields tick higher for second week
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Sri Lanka to draft new counter terrorism law: Cabinet
Oct 14, 2016 (LBO) – Sri Lanka has appointed a committee to draft a new counter terrorism law, a statement on cabinet decisions said. “A committee chaired by the Minister of Law and Order and Southern Development has been appointed to draft a new counter terrorism law instead of the existing Prevention of Terrorism Act, […]
Asia stocks, dollar edge up on China inflation data relief
TOKYO, Oct 14 (Reuters) – Asian stocks and the dollar bounced on Friday, erasing some losses from the previous day, as stronger-than-expected Chinese inflation data eased some concerns about the health of world’s second-biggest economy. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4 percent after dropping 1.1 percent on Thursday, when weak […]
Sri Lanka wants to move up 40 steps in ease of doing business
Oct 13, 2016 (LBO) – Sri Lanka is expected to reach 60th or a higher place in the world ease of doing business index in two years, a minister said. State Minister of International Trade Sujeewa Senasinghe told the World Export Development Forum that the government wants to create a conducive environment for local businesses. […]