Category: Economy and Markets

money

Sri Lanka’s Distilleries June net up 10-pct with beverage revenues

Aug 11, 2016 (LBO) – Profits at Sri Lanka’s Distilleries group, the island’s largest alcohol maker, rose 9.55 percent to 1.9 billion rupees in the June 2016 quarter from a year earlier, interim accounts showed. In the June quarter, net revenues rose 35 percent to 25.9 billion rupees and sales related costs rose 25 percent […]

‘ rising streak, oil slips

‘ rising streak, oil slips

HONG KONG, Aug 11 (Reuters) – Asian shares fell on Thursday, reversing recent gains as investors took profits after Wall Street declined overnight, and oil prices tumbled on news of a surprising jump in U.S. government stockpiles. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent in early Asian trade. It hit a […]

rupee

Sri Lankan rupee trades steady on state bank dollar buying

Aug 10, 2016 (Reuters) – The Sri Lankan rupee traded steady on Wednesday as exporter dollar sales were offset by purchases of the U.S. currency by state-run banks, dealers said. The spot rupee was trading at 145.60/63 per dollar at 0653 GMT, hardly changed from Tuesday’s close of 145.60/65. The spot rupee is usually managed […]

stock-market

Asian shares near 1-year high, dollar slips after soft U.S. data

TOKYO, Aug 10 (Reuters) – Asian shares held near one-year highs on Wednesday as investors pared expectations slightly for a Federal Reserve interest rate increase following weak U.S. productivity data, which drove the dollar and Treasury yields lower. MSCI’s broadest index of Asia-Pacific shares excluding Japan rose 0.1 percent, staying near a one-year high hit […]

Court

Sri Lanka Supreme Court blocks bill raising VAT

Aug 09, 2016 (LBO) – Sri Lanka’s Supreme Court has ordered parliament to stop considering a bill to raise value-added tax (VAT) because the drafting of the proposed legislation had not followed due process, the assembly speaker said on Tuesday. The failure to raise the tax could put in jeopardy the government’s ambitious fiscal consolidation […]

LOLC-1

LOLC to issue USD150mn listed foreign currency bonds in Singapore

Aug 09, 2016 (LBO) – Sri Lanka’s LOLC is to issue and list 150 million US dollars worth foreign currency denominated notes and bonds on the Singapore Stock Exchange. Accordingly, the Company intends to establish a Multicurrency Medium Term Note programme on the Singapore Stock Exchange. “The Company has identified the issue of corporate notes/ […]

Export-Import

Sri Lanka exports fell 12-pct in May; trade gap widens 16-pct

Aug 09, 2016 (LBO) – Sri Lanka’s exports fell 12 percent to 776.3 million US dollars in May 2016, while imports rose 0.3 percent to 1,589.8 million US dollars from a year earlier, official data showed. The trade gap has widened 15.7 percent to 813.5 million US dollars from a year earlier. The subdued performance […]

sri lankan-parliament

COPE presents interim report; bond report in two weeks

Aug 09, 2016 (LBO) – Sri Lanka’s Parliamentary Committee on Public Enterprises has presented its summarized interim report for the first 3 months of this year in Parliament on Tuesday. Chairman of COPE, Parliamentarian Sunil Handunnetti said the report contains progress of 19 Public Enterprises and covers the period of January 26 to April 08 […]

rupee

Sri Lankan rupee trades steady; stocks little changed

Aug 09, 2016 (Reuters) – The Sri Lankan rupee traded steady on Tuesday as dollar demand by importers was offset by conversions of the U.S. currency from exporters amid concerns that price controls by the government could hurt imports, dealers said. Two Sri Lankan economists last week told a summit attended by President Maithripala Sirisena […]

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