Category: Economy and Markets
Sri Lankan rupee edges up as dollar sales surpass importer demand
Sept 05, 2016 (Reuters) – The Sri Lankan rupee was marginally higher on Monday, supported by exporter dollar sales and on lack of importer demand for the greenback, dealers said. The spot rupee was at 145.45/50 per dollar at 0553 GMT, slightly firmer from Friday’s close of 145.48/53, while one-week rupee forwards were at 145.60/65, […]
‘s industrial production shows growth in May, June
Sept 05, 2016 (LBO) – Sri Lanka’s index of industrial production showed a pick up in May and June, the Department for Census and Statistics said, in its tentative release of the index on a quarterly basis. “The Index of Industrial Production (IIP) … can be used to identify the turning points in economic development […]
CDS celebrates 25 years in Sri Lankan capital market
Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), celebrates 25 years in the Sri Lankan Capital Market today. The CDS was established by the CSE in 1991, marking a historic breakthrough in clearing and settlement in Sri Lanka. The milestone was celebrated at a market opening ceremony […]
Sri Lanka expected to hold rates steady in 2016: Stan Chart
(Corrected to reflect typo in report. USD/LKR seen at 152 by end 2017) Sept 02, 2016 (LBO) – Sri Lanka is expected to hold interest rates steady for the rest of 2016 as the impact of two previous rate hikes kick in, Standard Chartered said in a report analyzing the economies of Sri Lanka and […]
Softlogic Capital reports Rs1.1 bln profit for year to March
Sept 02, 2016 (LBO) – Softlogic Capital PLC, the financial services holding company of the Softlogic Group, said it crossed the billion rupee profit mark and reported profit after tax of 1.1 billion rupees for the financial year ended March 2016. The result was a substantial increase of 45 percent compared with the previous year’s […]
Sri Lankan rupee steady, remittances offset importer dlr demand
Sept 02, 2016 (Reuters) – The Sri Lankan rupee traded steady on Friday as dollar sales by banks from inward remittances offset importer dollar demand, dealers said. The spot rupee was at 145.50/55 per dollar at 0715 GMT, hardly changed from Thursday’s close of 145.50/57, while one-week rupee forwards were at 145.70/75 compared to Thursday’s close […]
Sri Lanka’s CCPI inflation down 1.5-pct points in August 2016
Sept 01, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated 4.0 percent in August 2016 from a year earlier, down from 5.5 percent in July, the state statistics office data showed. Year on year inflation of food group has decreased from 8.1 percent in July to 5.6 percent in August and nonfood […]
Sri Lankan rupee firmer on bank dollar sales; stocks edge up
Sept 01, 2016 (Reuters) – The Sri Lankan rupee traded firmer on Thursday as dollar sales by banks on behalf of foreign investors to buy government securities surpassed the importer dollar demand, dealers said. The spot rupee was at 145.50/57 per dollar at 0455 GMT tad firmer from Wednesday’s close of 145.55/60, while one-week rupee […]
IFC ready to finance Sri Lankan private sector projects
Sep 01, 2016 (LBO) – The International Finance Corporation, a part of the World Bank group, is ready to finance Sri Lanka’s private sector projects by providing mid to long term loans through a multiple of financing methods, an official said. “The loan component for potential partners would start from around 3 million US dollars […]
Sri Lankan rupee steady after cbank chief allays fears of upward pressure
COLOMBO, Aug 31 (Reuters) – The Sri Lankan rupee traded steady on Wednesday, a day after the country’s Central Bank Governor Indrajith Coomaraswamy said the currency was not under upward pressure as capital inflows had not been of sufficient magnitude to exert such pressure. Dealers said the rupee could appreciate if the central bank does […]
JICA pledges Rs14bn development loan to Sri Lanka
Aug 31, 2016 (LBO) – The Japan International Cooperation Agency (JICA) has agreed to provide a development policy loan of 14.4 billion rupees (JPY10,000mn) for Sri Lanka’s development agenda. These funds will be utilized for private sector development, governance improvement and fiscal consolidation. The loan is provided at a concessionary interest rate of 1.4 percent per annum with a […]
Sri Lanka’s growth expectation 5.5-pct this year: CB Governor
Aug 31, 2016 (LBO) – Sri Lanka’s growth expectation for this year is about 5 to 5.5 percent as things stand, Central Bank Governor Dr. Indrajith Coomaraswamy told reporters. Coomaraswamy said no additional foreign borrowings are expected for this year. “We don’t anticipate any additional external borrowings for this year apart from T-bills and bonds,” […]