Category: Economy and Markets
No urgent need to adjust Sri Lanka interest rates: CB Governor
July 06, 2016 (LBO) – Sri Lanka’s newly appointed Central Bank Governor Indrajit Coomaraswamy says the monetary authority is closely watching interest rates, and the transmission impact of previous tightening takes 12 to 18 months. “We still haven’t seen the full effects of what has already been done,” he told reporters on Tuesday. “The slight […]
CB Governor awaits COPE outcome; bond market transparency to improve
July 05, 2016 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy told reporters Tuesday that he will look at the outcome of the COPE investigation before taking any action with regard to the alleged bond scam. Meeting reporters in Colombo for the first time after the new appointment, Coomaraswamy said the Central Bank will […]
Speaker to consult Attorney General, CB Governor over bond report
July 05, 2016 (LBO) – Speaker Karu Jayasuriya has decided to consult Sri Lanka’s Attorney General and new Central Bank Governor over the course of action to take on the Auditor General’s report on Treasury bond auctions. “I’ll look forward to discuss the future course of action over the bond report with them while also […]
Asian shares slide as investors ponder stimulus outlook
July 5 (Reuters) – Asian shares snapped a five-day winning streak on Tuesday as investors took stock of a rally driven by hopes that central banks will provide more stimulus to offset a likely downturn triggered by Brexit. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7 percent, but was still within reach of […]
Asia shares fall, bonds surge as Brexit fears resurface
July 6 (Reuters) – Asian share markets turned tail on Wednesday as fears over instability in the European Union returned with a vengeance, sending the pound to three-decade lows and hammering risk assets of all stripes. Concerns about the impact on already fragile global growth spread to commodity markets where oil prices were buckling […]
PTL Watch: Yields tick higher, some foreign buying
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New Central Bank Governor says upholding institution his primary duty
July 04, 2016 (LBO) – Sri Lanka’s newly appointed Central Bank Governor Dr. Indrajit Coomaraswamy says upholding the reputation and credibility of the institution will be his primary responsibility. He said this giving an inaugural address to the staff of the Central Bank. “The Central Bank of Sri Lanka is one of the great institutions […]
” to Sierra Cables PLC Fitch Ratings
Fitch Ratings has assigned Sri Lanka based cable manufacturer Sierra Cables PLC (Sierra) a National LongTerm Rating of ‘BB+(lka)’. The Outlook is Stable. Sierra’s rating reflects its established core business, which has an extensive product portfolio, modest but expanding market share and stable EBITDA margins. This is counterbalanced by exposure to cyclical endmarkets, risks associated […]
Asian stocks recoup losses, Aussie wobbles on uncertain election
July 4 (Reuters) – Asian shares shrugged off early losses and edged higher on Monday, while the Australian dollar was under pressure after no clear winner emerged from a weekend election. Activity across much of the region was subdued ahead of the U.S. Independence Day holiday, when financial and commodity markets will be closed. Investors also continued […]
Sri Lanka’s President appoints Dr. Indrajit Coomaraswamy as Governor of Central Bank
July 02, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Dr. Indrajit Coomaraswamy as the new Governor of the Central Bank of Sri Lanka. Dr. Coomaraswamy will assume duties as the Governor of Central Bank on Monday. This is what President posted on his official twitter profile today morning. After consulting all parties […]
Sri Lanka exports drop 11.2-pct in March, trade gap widens
July 01, 2016 (LBO) – Sri Lanka’s exports fell a faster 11.2 percent to 945.4 million US dollars in March 2016 while imports fell at a slower 0.9 percent widening the trade gap, Central Bank data showed. The largest contribution for exports decline came from transport equipment followed by exports of spices. Earnings from transport […]
Sri Lanka 1-wk rupee forwards edge down on importer demand
July 1 (Reuters) – Sri Lankan rupee one-week forwards ended slightly weaker on Friday as importer dollar demand surpassed late inward remittances ahead of Ramadan while nervous investors awaited the appointment of a new central bank governor, dealers said. One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee, ended at […]