Category: Economy and Markets
Sri Lanka’s Kotagala Plantations sells stake in Lankem Dev
Oct 11, 2016 (LBO) – Sri Lanka’s Kotagala Plantations has disposed its entire stake in Lankem Developments through the Colombo Stock Exchange at current market prices. The company said in a stock exchange filing that they sold their an equity stake of 10.04 percent in Lankem Developments represented by 6,026,500 shares. Lankem Developments today closed […]
Sri Lanka’s Central Bank says leaked report on Perpetual not final
Oct 10, 2016 (LBO) – Sri Lanka’s Central Bank on Monday said a complaint has been made to law enforcement authorities to inquire into the unauthorized release of a draft report on Perpetual Treasuries. There have been media coverage regarding a report related to the examination of Perpetual Treasuries conducted by the Central Bank as […]
‘s Fitch ratings summary as of October
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/10/Fitch-Monthly-Oct-2016.pdf” title=”fitch-monthly-oct-2016″]
Sri Lankan rupee down on seasonal imports; seen under pressure
Oct 10, 2016 (Reuters) – The Sri Lankan rupee fell on Monday due to seasonal importer dollar demand ahead of the festive season in December, dealers said. The local currency would be under downward pressure due to continued importer demand until the end of the year, they added. The spot rupee was quoted at 146.85 […]
Asia shares gain, Mexican peso jumps as markets lengthen odds on Trump
SYDNEY, Oct 10 (Reuters) – Asian shares crept higher and the Mexican peso jumped on Monday as odds of a victory by Republican nominee Donald Trump for the U.S. presidential bid widened just hours before a debate with Democratic candidate Hillary Clinton. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent, […]
Sri Lanka foreign reserves drops USD154mn in Sept: Central Bank
Oct 08, 2016 (LBO) – Sri Lanka’s official reserves dropped 153.8 million US dollars to 6.5 billion dollars in September, down from 6.6 billion dollars at the end of August, official Central Bank data showed. Foreign currency reserves were 5.4 billion US dollars, and reserves in Gold were 0.95 billion US dollars. The Central Bank’s […]
Sri Lankan rupee down on importer dollar demand; cenbank caps fall
COLOMBO, Oct 7 (Reuters) – The Sri Lankan rupee fell on Friday due to importer dollar demand while moral suasion by the central bank on the spot-currency trade forced banks to deal in spot-next, dealers said. “Banks did not trade the spot rupee below 146.85 because of moral suasion,” a currency dealer said, asking not […]
‘s Elephant House pours soft drinks into Europe
Oct 07, 2016 (LBO) – Sri Lanka’s iconic Elephant House has signed up with a UK-based bottling facility for the production of 1.5 litre PET plastic variants of its much-loved Necto, Cream Soda and Orange Barley beverages. With a view to increase exports into the European market, this bottling deal immediately targets expansion into key […]
Pound falls to lowest level since 1985 on fat finger
Oct 07, 2016 (LBO) – The British pound fell to its lowest level since 1985 in early Asian trade with traders speculating whether it was due to an error trade. The currency dove as much as 6 percent to $1.1819 and later recovered to .24 handle, down 2 percent. Friday’s fall was the most aggressive […]
Sri Lanka to sign ETCA by end 2016: PM at India Economic Summit
Oct 07, 2016 (LBO) – Sri Lanka expects to sign the Economic and Technology Co-operation Agreement (ETCA) with India by the end of this year, Prime Minister Ranil Wickremesinghe said. Addressing the India Economic Summit 2016, Prime Minister Wickremesinghe said it will help Sri Lanka to strengthen economic ties. “The proposed ETCA will be signed […]
Central Bank, immigration office to tackle money laundering
Oct 06, 2016 (LBO) – Sri Lanka’s Central Bank has joined with the immigration office to receive information in order to facilitate investigations and prosecutions on money laundering and terrorist financing. The bank’s Financial Intelligence Unit recently entered into a Memorandum of Understanding with the Immigration and Emigration Department in this regard in terms of […]
Sri Lanka’s Seylan Bank to raise Rs5bn from listed debenture
Oct 06, 2016 (LBO) – Sri Lanka’s Seylan Bank is to raise 5.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue rated senior unsecured redeemable debentures worth 50 million rupees at 100 rupees each with an option to issue up to a […]