Category: Economy and Markets
Sri Lanka to introduce capital gains tax & remove exchange control: PM
June 09, 2016 (LBO) – Sri Lanka’s government will remove exchange control regulations before the end of this year with improved inflows coming into the country, Prime Minister Ranil Wickremesinghe said. Speaking at the debate of the no-confidence motion against Finance Minister, the Premier said the proposal will be implemented with the 2017 budget proposals. […]
PTL Watch: Yields drop after treasury bond auction
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Sri Lanka approves funds for reservoirs and Southern roads
Jun 08, 2016 (LBO) – Sri Lanka’s cabinet has approved several reservoir and road development projects including the lower MalwathuOya reservoir and roads under the Southern transport projects. “The proposed lower MalwathuOya reservoir project will directly benefit people in Anuradhapura, Vavuniya, and Mannar districts and will facilitate 12,425 hectares of land under the Yoda Wewa and […]
Australian miner to drill for mineral samples in Puttalam, Sri Lanka
June 08, 2016 (LBO) – Australian miner Iluka Resources Ltd is expected to drill for mineral samples soon as it negotiates with the government for a mining license for ilmenite in Puttalam, Sri Lanka. “Iluka is currently assessing the development of a mineral sands deposit known as the Puttalam Quarry deposit. The Puttalam Quarry deposit […]
PTL Watch: Sri Lanka bond yields steady, low volumes
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Asian shares at near six week high on oil, Fed expectations
June 8 (Reuters) – Asian shares held near six-week highs on Wednesday, on a brightening outlook in the energy sector and hopes that the U.S. Federal Reserve will not raise interest rates in the coming months after a disappointingly weak U.S. jobs report. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat after hitting […]
Sri Lanka exports, imports decline; trade gap shrinks in February
June 07, 2016 (LBO) – Sri Lanka’s exports fell 1.7 percent to 887.7 million US dollars in February, while imports fell at a faster 5.9 percent to 1,439.3 million US dollars from a year earlier, official data showed. The trade gap has shrank 11.9 percent to 551.7 million US dollars from a year earlier. On […]
Sri Lanka eyes 10 to 20 year sovereign bond issue
June 07, 2016 (LBO) – Finance Minister Ravi Karunanayake told reporters today that the government is looking at a sovereign bond issue with a tenor of 10 to 20 years. Without revealing particulars, Finance Minister said the exact information on the bond issue will be announced in the coming days. Karunanayake also revealed that the […]
Sri Lankan rupee trades steady; seen rising on IMF loan, inflows
June 7 (Reuters) – The Sri Lankan rupee traded steady on Tuesday as dollar conversions by exporters were offset by dollar demand by importers even as hopes rose the currency would go up slightly after the IMF approved a $1.5 billion loan, dealers said. The IMF executive board approved the three-year loan over the weekend, […]
Sri Lanka’s Hemas Holdings March net profit down 3.5-pct
June 07, 2016 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure and healthcare has posted a shareholder profit of 744 million rupees in the March 2016 quarter, down 3.5 percent from a year earlier, interim accounts showed. The group reported basic earnings of 1.30 rupees per share for the quarter against […]
PTL Watch: Bond yields steady ahead of auction
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‘s comments, jobs report
June 07, 2016 (LBO) – U.S. interest rates may rise gradually after comments from Federal Reserve Chairwoman Janet Yellen on Monday, along with a surprisingly weak jobs report released on Friday. Yellen she said Friday’s jobs report was “disappointing” and “on balance, concerning,” but cautioned against placing too much significance on one economic report. The […]