Category: Economy and Markets
Sri Lankan shares hit 5-week high; rupee edges up
Oct 03, 2016 (Reuters) – Sri Lankan shares edged up on Monday, hitting their highest in five weeks, led by blue chips as hopes of some improvement in macroeconomic fundamentals boosted investor sentiment, dealers said. Sri Lankan shares were headed for a fifth straight session of gains, with the benchmark Colombo stock index rising 0.41 percent […]
Asia stocks start Q4 with gains, sterling stumbles
SYDNEY, Oct 3 (Reuters) – Asian shares got the new quarter off to a firm start on Monday, while sterling tumbled as Britain set a March deadline to start divorce proceedings from the European Union. Risk sentiment had benefited on Friday from reports Deutsche Bank was negotiating a much smaller fine with the U.S. Department […]
PTL Watch: Yields decline after auction, longer-end down sharply
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Sri Lankan rupee edges up as tight liquidity prompts dollar sales
Sept 30, 2016 (Reuters) – The Sri Lankan rupee traded slightly firmer on Friday, after four straight sessions of losses, as tight rupee liquidity triggered dollar sales by some banks, dealers said. The spot rupee was at 146.75/90 per dollar at 0556 GMT, compared with Thursday’s close of 146.90/147.00. The rupee has fallen 0.58 percent […]
Sri Lanka adds more taxes for smokers
Sep 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved a 15 percent Value Added Tax (VAT) and 5.00 rupees production tax on cigarettes as well as an increase of cess on the import of “beedi” leaves, a statement said. “Cabinet has decided to impose 15 percent VAT on cigarettes again, increase the current production […]
‘s ministries should be aligned to be more effective
Sep 30, 2016 (LBO) – Sri Lanka’s budget allocations for national road development are high, but it needs to be attuned to needs, and ministries should be properly allocated, a senior official said. “The problem is that we have fragmented systems, especially transport and highways are two different ministries so it is very difficult for […]
Asia stocks slip as Deutsche sours mood, Brent USD49.24 on OPEC pact
SINGAPORE, Sept 30 (Reuters) – Asian stocks followed Wall Street lower in early trade on Friday, while oil prices held close to the highest level in almost a month on optimism over an OPEC plan to curb output. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, on track for a 0.4 percent […]
Sri Lanka can meet 5.4-pct budget deficit target for 2016: Ravi
Sep 30, 2016 (LBO) – Finance Minister Ravi Karunanayake said Sri Lanka is well on its way to achieving the fiscal target for 2016 as the Value Added Tax increase would be presented in Parliament next week. “Revenue collection is largely on target despite delays in passing the VAT amendments, and we are confident of […]
Sri Lanka’s Central Bank allows foreign investors full control: CIFL
Sep 29, 2016 (LBO) – Sri Lanka’s troubled Central Investment and Finance Company says the Monetary Board has assured that investors would get 100 percent control once the proposed investment materializes. Clarifying a newspaper report, CIFL said that such intervention would be subject to other circumstances of the mechanism of proposed investment. The investors have […]
Sri Lankan rupee edge down ahead of bond auction
Sept 29, 2016 (Reuters) – The Sri Lankan rupee edged down on Thursday ahead of a bond auction as investors bought the local currency to buy bonds, and as importer demand for dollars exceeded greenback sales by exporters, dealers said. The spot rupee was trading at 146.75/85 per dollar, compared with Wednesday’s close of 146.62/70. […]
Asia stocks gains as crude oil surges after OPEC deal
TOKYO, Sept 29 (Reuters) – Asian stocks gained on Thursday in tandem with an oil price rally after OPEC members agreed to curb output – boosting investor risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6 percent. Commodity-heavy Australian shares advanced 0.6 percent and South Korea’s Kospi gained 0.7 percent. Japan’s […]
Sri Lanka’s Fitch places Distilleries on rating watch negative
Sept 28, 2016 (LBO) – Sri Lanka’s Fitch Ratings has placed Distilleries Company’s national long-term rating of ‘AAA(lka)’ on rating watch negative following its restructuring of the group. Full text of the rating action is reproduced below. Fitch Places Distilleries Company of Sri Lanka on Rating Watch Negative Fitch Ratings has placed Distilleries Company of […]