Category: Economy and Markets
Sri Lankan rupee firmer on dollar sales by exporters, banks
COLOMBO, Sept 6 (Reuters) – The Sri Lankan rupee edged up on Tuesday as dollar sales by exporters and banks on behalf of foreign investors to buy government securities helped the currency amid a lack of demand from importers for the greenback, dealers said. The spot rupee was at 145.43/48 per dollar, slightly firmer compared […]
Mobitel to make Rs732 mln voluntary offer for E-Channelling
Sept 06, 2016 (LBO) – Mobile telecommunications company Mobitel (Private) Limited says it will make a voluntary offer to shareholders of E-Channelling PLC for a total consideration of 732 million rupees, at six rupees per share. Mobitel had entered into a share sale and purchase agreement on September 5th with Senior Marketing System Asia Pte. […]
Asian shares edge up as investors await RBA
TOKYO, Sept 6 (Reuters) – Asian shares edged up on Tuesday but were mostly in a holding pattern after Monday’s U.S. holiday, as investors awaited a policy decision from the Reserve Bank of Australia. European stocks touched an eight-month high in choppy trading then reversed as trading wound down in the absence of U.S. markets, […]
GAAM: Rs945 mln foreign inflow into stocks last week
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/09/Weekly-Report-GAAM-20-08-16.pdf” title=”Weekly Report GAAM 20 08 16″]
Sri Lanka seals USD100mn credit from World Bank for economic reforms
Sep 05, 2016 (LBO) – Sri Lanka signed a 100 million US dollar credit from the International Development Association (IDA), an arm of the World Bank, today to support economic reforms in the island. “This program will support the Sri Lankan Government’s commitment to unleash the potential of Sri Lankan enterprises to grow, become more […]
Sri Lanka exports fell 5-pct in June, trade gap widens 6-pct
Sept 05, 2016 (LBO) – Sri Lanka’s exports fell 5.0 percent to 897 million US dollars in June 2016, while imports dropped a slower 0.2 percent to 1,676 million US dollars from a year earlier, official data showed. The trade gap further widened 6.0 percent to 779 million US dollars from a year earlier due to […]
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 […]