Category: Economy and Markets
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 […]
COPE to consider Auditor General’s report on bond issue Wednesday
June 28, 2016 (LBO) – Sri Lanka’s Parliament appointed Committee on Public Enterprises (COPE) will meet Wednesday to consider the Auditor General’s report on the bond investigation. Parliamentarian and COPE member Dr. Nalinda Jayatissa told LBO, the committee will most probably arrive at a decision on the alleged bond scam based on the findings of the […]
Sri Lanka’s Lion Brewery falls below minimum public holding
June 28, 2016 (LBO) – The minimum public holding of Sri Lanka’s Lion Brewery has fallen below the stipulated float making it obligatory for the company to make an announcement. As per the minimum public holding rules, there are two ways to get listed on the main board of the Colombo Stock Exchange. One option […]
PTL Watch: Mid-tenor yields ease, some foreign buying
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Sri Lanka to impose capital gains tax on stocks, Minister says
June 28 (Reuters) – Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka’s cabinet approved reintroducing a capital gains tax on land early this month, but has not said whether […]