Category: Economy and Markets
Ceylon Cold Stores PLC Joins CSE to Open Trading for July
Ceylon Cold Stores (CCS) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of July. Directors Mr. Ajit Gunewardene and Mr. Ronnie Peiris, President of the Consumer Foods Sector of JKH & Director Mr. Jit […]
PTL Watch: Bond yields higher, more foreign inflow
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Asia stocks rise as risk appetite recovers, pound under fresh pressure
July 1 (Reuters) – Asian stocks rose on Friday as risk appetite continued to recover from last week’s Brexit shock, but the pound came under renewed pressure after the Bank of England’s governor hinted at an interest rate cut ahead. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent. The index has recovered nearly all the […]
‘s CCPI inflation accelerates to 6 pct in June from 4.8 pct in May
July 01, 2016 (LBO) – Sri Lanka’s inflation as measured by Colombo Consumers Price Index (CCPI) accelerated to 6.0 percent in June 2016, up from 4.8 percent, on an year-on-year basis. Inflation for food items increased from 5.6 percent in May to 8.2 percent in June 2016 while nonfood items decreased from 4.2 percent to […]
Charitha Ratwatte to take up Governor position for two months: Source
June 30, 2016 (LBO) – Charitha Ratwatte is expected to take a temporary position as the Governor of the Central Bank of Sri Lanka, a government source told Lanka Business Online. The appointment of the former Treasury Secretary would be for two months, the source added. An official announcement has not been made yet. On […]
Sri Lankan rupee 1-wk forwards rise on bank dollar sales; stocks up
June 30 (Reuters) – Sri Lankan rupee one-week forwards rose on Thursday as a state-run bank sold dollars after the central bank intervened to lift the rupee, while dollar selling by a few exporters also helped the currency gain, dealers said. One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee, […]
‘s social security programs to be networked: Cabinet
June 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved the Social Security Network Project to connect all social security programs, so that suitable persons have access to social security in a transparent manner. “There is no method of identifying whether the benefits of social security programs are being directed to the suitable communities,” a […]
FTSE recovers Brexit losses, Brent crude down 1.2-pct
June 30 (LBO) – Asia stocks rose across the board on Thursday, tracking an overnight rally on Wall Street, while the safe-haven Japanese yen stopped rising as global markets bet Brexit won’t get implemented immediately. Michael Hewson, chief market analyst at CMC Markets, said investors had been reassured by hopes that Britain’s EU exit wouldn’t […]
AG’s report to Speaker, COPE summons Central Bank officials on July 7
June 29, 2016 (LBO) – The Committee on Public Enterprises (COPE) has summoned Central Bank Governor, officials of the Monetary Board and Finance Ministry on July 7 to discuss about the Auditor General’s report. Auditor General today submitted a 1,251 page full report to the Speaker while a short report without sensitive information has been […]
PTL Watch: Yields tick higher on profit taking
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Central Bank Union calls for immediate action
Jun 29, 2016 (LBO) – Sri Lanka’s Central Bank Executive Officers Union says that immediate legitimate action needs to be taken to prevent probable anarchic state that would arise at the institution from July 01, 2016. “We write to record our discontent on the current state of depletion of public confidence in and heightened criticism […]
Sri Lanka President to appoint new Governor
June 29, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena will appoint a new governor to the Central Bank soon, he said on Wednesday. “I will appoint a new Governor to the Central Bank in the coming hours,” his twitter account said. Governor Arjuna Mahendran has said he won’t seek re-appointment due at the end […]