Category: Economy and Markets
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. […]
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 […]