Category: Economy and Markets
Sri Lankan rupee up on bond buying by foreigners; spot starts trading
Aug 04, 2016 (Reuters) – The Sri Lankan rupee gained on Thursday as foreign investors sold dollars to buy local bonds on hopes of higher returns after the central bank’s policy rate hike, dealers said. The spot rupee, which was last actively traded on June 13, resumed trading on Wednesday. It traded at 145.60/70 per […]
‘s top Unit Trust award
Aug 04, 2016 (LBO) – JB Vantage Money Market Fund, part of the JB Financials Pvt Ltd, has won gold for best Unit Trust at the recently held CFA Sri Lanka Capital Markets awards 2016. “JB Vantage Value Equity Fund bagged the bronze in the same category, thereby dominating the category and underscoring their leadership […]
Nihal Fonseka appointed to Monetary Board
Aug 04, 2016 (LBO) – Veteran banker Nihal Fonseka has been appointed to the Monetary Board of the Central Bank of Sri Lanka. Fonseka has served as CEO of DFCC Bank and on several boards such as the National Payments Council and the Financial Systems Stability Consultative Committee of the Central Bank, the Strategic Enterprise […]
BoE rate call looms, Asian shares firm as oil rebounds for now
TOKYO, Aug 4 (Reuters) – Investors are counting on the Bank of England to cut interest rates to a record low 0.25 percent later on Thursday to support an economy that has slumped since the Brexit vote. The expected BoE cut would be the first since 2009 as Britain’s economy teeters on the brink of […]
Distilleries share swap gets court go ahead
Aug 03, 2016 (LBO) – Sri Lanka’s courts granted permission to shareholder of Distilleries Company for a plan to swap stock with Meltacorp Limited, a statement said. The company will call an Extra Ordinary General Meeting (EGM) on September 06, 2016 immidiately following its annual general meeting to get shareholder approval. After the swap, both […]
Sri Lanka to introduce Public Enterprise Act next month: Malik
Aug 03, 2016 (LBO) – Sri Lanka’s government is to introduce the Public Enterprise Act which facilitates the setting up of a Public Enterprise Development Board, a senior government minister said. This Public Enterprise Development Board will be chaired by a private sector individual. “This board consists of leading private sector CEOs and managers and […]
PTL Watch: Bond yields ease, further foreign buying
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/08/PTL-Daily-Market-Report-03rd-August-2016.pdf” title=”PTL Daily Market Report 03rd August 2016″]
Sri Lanka forging ahead with reforms for intra-Asia trade : PM
Aug 03, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the Unity Government action plan is to introduce a large database of products and large-scale economic reforms for infrastructure with the hope of becoming the economic hub of the Indian Ocean. He said the government is now going ahead with plans to ensure […]
‘s private sector being too risk averse: Finance Minister
Aug 03, 2016 (LBO) – Sri Lanka’s private sector is being too risk averse and now is the time to come forward with proposals, Finance Minister Ravi Karunanayake said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “We have to take greater risk than what we […]
‘s Pemandu CEO
Aug 02, 2016 (LBO) – Malaysia’s model for economic growth in recent years has been driven by a focus on implementation, delivery and execution, Dato Sri Idris Jala, the chief executive officer of Malaysia’s Performance Management and Delivery Unit, PEMANDU, said. He was speaking on Tuesday at the Sri Lanka Economic Summit 2016 organized by […]
Expectations of economic management not being met: Razeen Sally
Aug 02, 2016 (LBO) – After 18 months of Sri Lanka’s new administration, expectations that proper economic management would be in place are going unmet, Prof Razeen Sally said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “My sense is that those expectations have not been […]
‘s exports lagging in Asia: Governor
Aug 02, 2016 (LBO) – Sri Lanka’s exports, as a percent of GDP, fall far below other countries in the region, Central Bank Governor Indrajit Coomaraswamy said on Tuesday. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. Last year, exports as a percentage of GDP was […]