Category: Economy and Markets
Gap between male, female life expectancy narrows in Sri Lanka
June 27, 2016 (LBO) – The difference between female and male life expectancy at birth reduced in 2012 to 6.6 years compared with 8.4 years in 2001, latest data from the statistics office showed. For the years 2011 to 2013, life expectancy is 72.0 years for males and 78.6 for females, while the life expectancies […]
PTL Watch: Bond yields fall, local investor interest
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Abans Finance to raise Rs277mn through private placement
June 27, 2016 (LBO) – The directors of Abans Finance has decided to raise 277 million rupees for the company by way of a private placement of ordinary voting shares. Subject to necessary approvals, the proposed investor, Ironwood Investment Holding (Pvt.) Ltd will purchase 11,067,978 fully paid ordinary voting shares of the company at a […]
Sri Lanka Parliament passes Right to Information Bill
June 25, 2016 (LBO) – Sri Lanka’s Parliament has passed the Right to Information (RTI) bill with amendments on Friday. The main purpose of the Bill is to provide for the Right of Access to Information, to specify grounds on which access may be denied, to establish the Right to Information commission, to appoint Information […]
In Pictures: Swim Week 2017 highlights new designs and Colombo port
Day 1 of Swim Week Colombo kicked off on Friday showcasing designs by Sri Lankan and international designers at the ECT Terminal of the Colombo Port. The designers were: U by Upeksha Hager, Meraki, Juxtapose, heidi klein, Rachel Raj, CHARINI, c.h.a.r.l.e.n.e., and Shivan & Narresh. The venue of Colombo Port was a first, highlighting the […]
Sri Lanka’s Central Bank keeps policy rates steady
June 24, 2016 (LBO) – Sri Lanka’s Central Bank has decided to keep its key interest rates steady for a fourth straight month on Friday, despite rising inflation and high private sector credit growth. The full text of the statement is reproduced below. Monetary Policy Review – June 2016 According to provisional estimates of the […]
Brexit could impact Sri Lanka borrowings, trade, says CCC
June 24, 2016 (LBO) – Sri Lanka could feel the impact of Brexit in its commercial borrowings, as the external environment becomes more volatile, while exporters should make greater effort to diversify targeted markets, the Ceylon Chamber of Commerce said. “The negotiations around the terms of Britain’s new engagement with Europe are likely to take […]
Sri Lankan rupee 1-wk forwards fall on importer dollar demand; Brexit weighs
COLOMBO, June 24 (Reuters) – Sri Lankan rupee one-week forwards fell on Friday as it faced pressure from a strengthening dollar after Britons voted to leave the European Union, cautioning importers, but selling of the U.S. currency by a state bank capped losses, dealers said. Britain voted to leave the 28-member bloc, results from Thursday’s […]
‘t seek reappointment until probe over
June 24, 2016 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran has informed the Monetary Board that he will not seek a re-appointment when his term ends this month until a parliamentary probe over bond sales is complete. The Central Bank in a press release said he would not seek re-appointment until “the Parliamentary […]
‘s Royal Turf Club unveils plans for next racing season
June 23, 2016 (LBO) – Sri Lanka’s Royal Turf Club (RTC) has several plans to popularize horse racing and the next racing season in Nuwara Eliya, with a Hollywood star expected at the first charity race, officials said. The next Nuwara Eliya racing season will commence on August 6th, with horses racing every two weeks […]
Sri Lankan rupee 1-wk forwards edge up on dollar sales
June 23 (Reuters) – Sri Lankan rupee one-week forwards edged up on Thursday due to dollar selling by a state-run bank, while demand for the greenback from importers amid low liquidity weighed on the currency, dealers said. A decision by Moody’s to revise down the country’s sovereign rating outlook and lack of exporter conversions […]
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June 23, 2016 (LBO) – Moody’s Investors Service says that whether or not Sri Lanka’s (B1 negative) credit profile demonstrates a temporary or more enduring improvement from its International Monetary Fund’s (IMF) program will depend on how effectively the program’s ambitious reforms are implemented. Moody’s conclusions are outlined in its just released report: “Government of […]