Category: Economy and Markets
World Bank to improve transparency with new procurement system in Sri Lanka
Aug 22, 2016 (LBO) – The World Bank in keeping pace with global trends has introduced a new procurement framework in South Asia including Sri Lanka to improve development impact and transparency. The new system helps its partner countries that procure goods and services under Bank-financed projects make the best use of their public spending, […]
Sri Lankan rupee steady; importer demand offsets exporter dollar sales
Aug 19, 2016 (Reuters) – The Sri Lankan rupee was steady for a fifth straight session on Friday as dollar sales by exporters and banks were offset by demand for the U.S. currency from importers, dealers said. The spot rupee was at 145.50/55 per dollar at 0632 GMT, unchanged from Thursday’s close. “The demand is […]
PTL Watch: Bond yields tick higher, foreign buying seen
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-19th-August-2016.pdf” title=”PTL Daily Market Report 19th August 2016″]
Correction: Fitch downgrades NDB, affirms 8 banks, revises outlook on DFCC, Sampath
(Correction: This announcement replaces the version published on 22 June 2016 to correct the Support Rating of DFCC Bank PLC to ‘5’ instead of ‘4’ and the rating action on the Support Rating to “downgrade” instead of “affirmed”) Aug 19, 2016 (LBO) – Fitch Ratings says it has downgraded Sri Lanka’s National Development Bank PLC’s […]
More Sri Lanka IPOs to come by end 2016: CSE official
Aug 19, 2016 (LBO) – Sri Lanka will see some new IPOs on the Colombo Stock Exchange by the end of 2016 and also expect some non strategic state enterprises to list, a senior official said. “There are few IPOs in the pipeline,” Rajeeva Bandaranaike, the chief executive of the CSE, said. “We are waiting […]
Asia rides Wall St higher, buoyant crude nears 6-week highs
TOKYO, Aug 19 (Reuters) – Asian stocks edged up on Friday as Wall Street benefited from buoyant crude oil prices and expectations U.S. borrowing costs will remain at stimulatory levels at least until year-end. Japan’s Nikkei added 0.5 percent and South Korea’s Kospi tacked on 0.2 percent. Australian shares added 0.1 percent. MSCI’s broadest index […]
Sri Lankan rupee steady; exporter dlr sales offset bank demand
COLOMBO, Aug 18 (Reuters) – The Sri Lankan rupee was steady for a fourth straight session on Thursday as dollar sales by exporters were offset by demand for the U.S. currency from banks, dealers said. The spot rupee was at 145.50/55 per dollar at 0623 GMT, unchanged from Tuesday’s close. The markets were closed for […]
Sri Lanka’s tax collection up by Rs100bn in 1H 2016
Aug 18, 2016 (LBO) – Tax revenue in Sri Lanka’s government has increased by 100 billion rupees for the first half of this year, co-cabinet spokesman Minister Gayantha Karunathilaka said. Karunathilaka said Finance Minister has informed the cabinet that the total tax revenue has increased by about 20 percent in the first six months. Tax […]
‘s Cabinet writes off Hyatt Regency in Hambantota
Aug 18, 2016 (LBO) – Sri Lanka’s Cabinet has approved shifting four billion rupees allocated for the Hyatt Regency project in Hambantota to the Grand Hyatt project in Colombo, effectively completing the write off of the Hambantota project. “Although, 315 million rupees has been spent, constructions of the said hotel has not been commenced,” a […]
Ceylon Chamber calls for private sector input on FTAs
Aug 18, 2016 (LBO) – With the Sri Lankan government working towards a series of Free Trade Agreements (FTAs), the Ceylon Chamber of Commerce has called for companies to submit substantive inputs on trade policy matters. With these inputs the private sector can “strengthen its representations with trade negotiators,” the Ceylon Chamber said in a […]
Asia stocks rise, dollar falls as Fed minutes cool rate hike views
TOKYO, Aug 18 (Reuters) – Asian stocks edged up early on Thursday and the dollar fell after the Federal Reserve’s latest meeting minutes showed policymakers were in no hurry to add to U.S. borrowing costs. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, thanks to hopes that the Fed’s accommodative stance – […]
Sri Lanka’s Amana Takaful Life to list on Thursday
Aug 16, 2016 (LBO) – The shares of Amana Takaful Life Limited will be listed on the Colombo Stock Exchange on Thursday, the company said in a stock exchange filing. Accordingly, 50 million shares would be listed on the Diri Savi Board of the CSE and will be classified under Banks, Finance and Insurance sector. […]