Category: Economy and Markets
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 […]
Sri Lankan rupee falls slightly on importer dollar demand
Oct 06, 2016 (Reuters) – The Sri Lankan rupee edged down on Thursday due to importer dollar demand in the absence of central bank intervention, and the market expects the local currency to be under pressure due to seasonal demand from importers until the year-end, dealers said. The spot rupee was at 146.80/90 per dollar […]
New board appointments at Softlogic
(PRESS RELEASE) – Softlogic Holdings PLC recently announced the appointment of Prof. Ajantha Dharmasiri and Mr. Aaron Russell-Davison as Non-Executive Independent Directors with effect from 1st July and 5th October 2016 respectively. Prof. Dharmasiri is Chairman and Director of the Board of Management of the Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura. He […]
Asian shares firm after U.S. service sector rebounds
TOKYO, Oct 6 (Reuters) – Asian shares firmed on Thursday, encouraged by stronger U.S. economic data and a rise in oil prices, while growing prospects of a U.S. rate hike hit gold and the boosted the dollar to one-month highs versus the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent […]
Sri Lankan rupee edges down on importer dollar demand
Oct 05, 2016 (Reuters) – The Sri Lankan rupee edged down on Wednesday on mild importer dollar demand amid market expectation that the currency will remain under downward pressure ahead of the festival season, dealers said. The spot rupee was at 146.80/85 per dollar at 0732 GMT, compared with Tuesday’s close of 146.70/75. “The importer […]
PTL Watch: Bond yields tick higher on low volumes
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/10/PTL-Daily-Market-Report-05th-October-2016.pdf” title=”ptl-daily-market-report-05th-october-2016″]
Sri Lanka’s growth will be below average for South Asia: World Bank
Oct 05, 2016 (LBO) – Sri Lanka’s growth will be below average for South Asia which the World Bank expects to grow by 7.1 percent this year and 7.3 percent in 2017. According to the World Bank’s twice-a-year South Asia Economic Focus released yesterday, Sri Lanka is among the slowest growing economies in South Asia. […]