Category: Economy and Markets
GAAM: Foreign inflow of Rs535 Mln for the week
The Guardian Acuity Asset Management weekly can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/Weekly-Report-GAAM-13-08-161.pdf” title=”Weekly Report GAAM 13 08 16(1)”]
Sri Lankan rupee trades steady; state bank buying offsets exporter dollar sales
COLOMBO, Aug 16 (Reuters) – The Sri Lankan rupee was steady on Tuesday as dollar sales by exporters were offset by demand for the U.S. currency by banks, dealers said. The spot rupee was at 145.50/55 per dollar at 0607 GMT, same as Monday’s close. “The exporter (dollar) sales are there. But rupee is steady […]
Sri Lanka’s LOLC June net up 26-pct amid growing incomes
Aug 16, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the June quarter rose 26 percent to 2.3 billion rupees. The group reported basic earnings of 4.92 rupees per share for the quarter up from 3.89 from a year earlier, on […]
Asian shares hits 1-year high, oil supported
TOKYO, Aug 16 (Reuters) – Asian shares rose to one-year highs, extending their gains so far this year to almost 10 percent, helped by a jump in oil prices and investor expectations of continued easy monetary policy around the globe. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, bringing its gains […]
Poll at Economic Summit: strong support for PPPs; freeing up trade
Aug 15, 2016 (LBO) – Participants at the recently concluded Sri Lanka Economic Summit are optimistic about the government’s ability to deliver economic results in the next four years, but are critical of the progress made so far and have mixed views about Budget 2017, according to a survey conducted at the event. The Ceylon […]
Sri Lankan rupee steady in dull trade
COLOMBO, Aug 15 (Reuters) – The Sri Lankan rupee was steady on Monday as dollar sales by exporters were offset by importer demand for the greenback in dull trade, dealers said. The spot rupee traded steady at 145.50/55 per dollar, little changed from Friday’s close of 145.50/52. “There is nothing much happening. There have been […]
Virtusa Announces First Quarter 2017 Consolidated Financial Results
(PRESS RELEASE) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, reported consolidated financial results for the first quarter fiscal 2017, ended June 30, 2016. First Quarter Fiscal 2017 Consolidated Financial Results Revenue for the first quarter […]
Sri Lanka sovereign yield falls to 5.57 pct, strong foreign interest
Aug 15, 2016 (LBO) – Sri Lanka’s 10-year sovereign bond yield dropped to 5.57 percent on Monday from initial coupon of 6.825 percent indicating strong demand from international investors for emerging market bonds. The 5-year sovereign issue has similarly fallen to 4.75 percent from 5.75 percent, with ICBC Standard Bank and Mashreq Bank of Qater […]
Indian officials to visit in two weeks for ETCA talks
Aug 15, 2016 (LBO) – A delegation from India is due to arrive in Sri Lanka within the next few weeks for discussions on the proposed Economic and Technology Co-operation Agreement (ETCA). The Deputy High Commissioner for India to Sri Lanka Arindam Bagchi said this at the Sri Lanka PLAST 2016 Expo held at the […]
Sri Lanka blocks sale of freehold land in USD1.4 bln Chinese deal
Aug 15, 2016 (LBO) – Sri Lanka’s government on Friday agreed a new version of its $1.4 billion real estate agreement with China after changing the terms and blocking the outright sale of land – part of a project covering a square mile right next to the capital’s port, Reuters reported. Since coming to power […]
Aitken Spence records 31-pct top line growth in Q1
Reflecting top line growth across all sectors – tourism, maritime and logistics, strategic investments and services; leading blue chip – Aitken Spence PLC posted a revenue figure of Rs. 7.5 Billion in the first quarter of the 2016/17 financial year, a 31% increase from the previous year’s Rs. 5.8 Billion. The top line growth is […]
Sri Lanka rupee steady; exporter dlr sales offset by importer demand
Aug 12, 2016 (Reuters) – The Sri Lankan rupee was steady on Friday as dollar sales by foreign investors and exporters were offset by mild demand for the importer greenback, dealers said. The spot rupee ended at 145.50/53 per dollar at 0636 GMT, compared with Thursday’s close of 145.50/52. “We see a few foreign banks […]