Category: Economy and Markets
Sri Lanka seeks USD1bn currency swap with China: Prime Minister
Mar 23, 2016 (LBO) – Sri Lanka is currently looking at one billion US dollars worth currency swap agreement with China, Prime Minister Ranil Wickremesinghe told Parliament Wednesday. “We have several issues with regard to the foreign exchange reserves. We already have a swap with India and now we are going to have another one […]
PTL Watch: Bond yields tick higher on thin volumes
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/03/23rd-March-2016-PDF.pdf”]
IFC, Canada to invest USD15 mn in Richard Pieris for green retail growth
Mar 23, 2016 (LBO) — IFC, a member of the World Bank Group, together with the IFC-Canada Climate Change Program will invest 15 million dollars in Sri Lankan retail chain Richard Pieris Distributors Limited to help the company expand its retail network, support job creation, and develop local supply chains, a statement said. Funding will […]
Markets mixed after deadly attacks in Brussels
Mar 23, 2016 (LBO) European markets recovered from early losses after deadly attacks in Brussels killed 31 people and injured more than 230. France’s CAC and Germany’s DAX index fell 2 percent early on, but recovered by close. The CAC closed up 0.09 percent and the DAX up 0.42 percent. The FTSE closed up 0.12 […]
Sri Lanka inflation accelerates to 1.7-pct in February 2016
Mar 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose 1.7 percent in February from the 0.7 percent deflation reported a month earlier on year-on-year basis, data from the state statistics office showed. The main contributor towards the increase was the Non-food category, the state statistics office said. The […]
CSE Wins Global HR Excellence Award
The Colombo Stock Exchange (CSE) won the award for “The Most Innovative Use of Training and Development” at the recently concluded World HRD Congress in Mumbai, India. Attracting participation from organizations representing over 100 countries, the Global HR Excellence Awards recognize organizations and HR professionals for excellence in HR strategy and people management. Diverse training needs and unique operational […]
Debt crisis in developing nations likely if slowdown continues: Kelegama
Mar 21, 2015 (LBO) – The main priority for policy makers worldwide should be to support a robust and balanced global recovery, a Sri Lankan economist said. This involves promoting cooperation in reforming the international financial system, and ensuring sufficient resource flows to developing economies, Saman Kelegama, executive director of the Institute of Policy Studies […]
Investment Summit: Sri Lanka bonds attractive in Asia, say officials
Singapore, Mar 18, 2016 (LBO) – With Sri Lanka never defaulting on sovereign debt, rupee bonds are an attractive proposition within the bond offerings in Asia, presenters said at the Sri Lanka Investment Summit held in Singapore this week. Although devaluation of the yuan, and increase in Fed rates led to capital outflows, those outflows […]
PTL Watch: Dull trade in bonds, more foreign selling
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/03/18th-March-2016-PDF.pdf”]
PTL Watch: Yields tick higher with bond auction
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/03/17th-March-2016-PDF.pdf”]
European Commission announces Euro 38 mn for development in Sri Lanka
Mar 16, 2016 (LBO) – The European Commission co-signed two new support programmes worth 38 million Euros in the field of rural development and trade with Sri Lanka, a EU statement said. “Now our focus is on providing long-term support towards poverty reduction and local economic development,” Neven Mimica, EU Commissioner for International Cooperation […]
Carl Cruz assumes duties as Chairman of Unilever Sri Lanka
With effect from March 1, 2016, Carl Cruz assumed duties as Chairman of Unilever Sri Lanka, taking the helm from his predecessor, Shazia Syed who has returned to Pakistan to assume her duties as the Chief Executive Officer of Unilever Pakistan. Carl arrived in Sri Lanka from the Philippines, where he last served as […]