Category: Economy and Markets
Sri Lankan rupee down on importer dollar demand; forwards active
Sept 21, 2016 (Reuters) – The Sri Lankan rupee fell on Wednesday on importer dollar demand, while currency forwards were actively traded in the absence of the spot rupee trading, dealers said, a day after the central bank’s moral suasion capped the rupee’s fall. Traders were unwilling to trade the spot rupee below 146.00 , […]
PTL Watch: Bond yields continue upward momentum
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/09/PTL-Daily-Market-Report-21st-September-2016.pdf” title=”ptl-daily-market-report-21st-september-2016″]
New markets needed to offset Sri Lanka Tea downturn: OBG
Sept 21, 2016 (LBO) – Adverse weather conditions, combined with rising costs and greater competition, threaten to weaken Sri Lanka’s position in the global tea industry, though efforts to develop new markets could help offset downturns in exports and revenue, the Oxford Business Group said in a note on the economy. Flooding in mid-May struck […]
US Pacific Command partners with Sri Lanka on oil spill management
Sept 21, 2016 (LBO) – Experts from the U.S. Pacific Command have provided training for disaster response counterparts from Sri Lanka and Maldives on responses to potential oil spills that could impact the local environment. Both civilian and military participants shared experiences from recent oil spill response efforts, with hands-on field exercises that included a […]
Asia stocks pull ahead, investors on edge before BOJ verdict
HONG KONG, Sept 21 (Reuters) – Asian shares got off to a tentative start on Wednesday, while the yen was steady as investors braced for the outcome of the Bank of Japan’s policy meeting amid heightened speculation the central bank will make crucial changes to its massive easing programme. The BOJ is expected to make […]
No liberalization of professionals under upcoming FTAs: Kelegama
Sept 20, 2016 (LBO) – Sri Lanka’s bilateral free trade agreements that are currently being considered have no liberalization of professionals, a senior official confirmed. Sri Lanka is currently negotiating with India to deepen the existing Indo-Lanka FTA via Economic and Technology Cooperative Agreement (ETCA), and is talks with China and Singapore to sign bilateral […]
Sri Lankan rupee edges up on state bank dollar sales
Sept 20, 2016 (Reuters) – The Sri Lankan rupee gained slightly on Tuesday as a state bank sold dollars after the local currency fell due to importer greenback demand, with traders unwilling to trade the rupee below the level desired by the central bank, dealers said. The spot rupee was at 145.80/146.00 per dollar at 0638 […]
GAAM: Foreign inflow of Rs484 mln into stocks for week
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/09/Weekly-Report-GAAM-17-09-16.pdf” title=”weekly-report-gaam-17-09-16″]
New Zealand pledges to develop milk production in Sri Lanka
Sep 20,2016 (LBO) – New Zealand says that it will extend its full assistance to develop the milk production sector in Sri Lanka, the finance ministry said in a statement. “New Zealand expects to provide Sri Lanka new technology, industry expertise and certain grants to enable the island to improve its milk production,” Grahame Morton, […]
Interview: Sri Lanka stock earnings +6 pct in June quarter, valuations improve
Sept 20, 2016 (LBO) – Sri Lankan listed companies posted earnings of 49.9 billion rupees in the quarter to June, up six percent from the same quarter last year, according to Acuity Stockbrokers. Together with a depressed market, this means valuations have improved. Lanka Business Online spoke to Chethana Ellepola, head of research at Acuity […]
Asia stocks waver as investors nervously await Fed, BOJ
TOKYO, Sept 20 (Reuters) – Asian shares edged lower on Tuesday as investors nervously waited on the outcomes of the Federal Reserve and Bank of Japan policy meetings that begin later in the session. Global markets have been blowing hot and cold in recent weeks over the Fed’s intentions, not helped by both hawkish and […]
Sri Lankan rupee edges down on importer dollar demand; stocks fall
COLOMBO, Sept 19 (Reuters) – The Sri Lankan rupee traded weaker on Monday as importer dollar demand surpassed selling of the U.S. currency by exporters, dealers said. The spot rupee was traded at 145.80/95 per dollar at 0625 GMT, slightly weaker from Thursday’s close of 145.75/85. One-week forwards were at 146.05/20, compared with the previous […]