Category: Economy and Markets
I practiced strict financial discipline & management, says President
Apr 01, 2016 – Sri Lanka’s President Maithripala Sirisena says he has fulfilled his duties and responsibilities in an appropriate manner during the last year when it comes to financial discipline and management of the country. It is the responsibility of the politicians and public officials to pay more attention to financial discipline and management, […]
Colombo inflation accelerates 2.0-pct in March 2016
Mar 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 2.0 percent in March 2016 from a year earlier, down from 2.7 percent in February 2016 with the inflation index dropping 1.1 percent in the month, the state statistics office said. As per the statistics office, Year on year inflation of […]
Sri Lanka’s unemployment at 4.3-pct in 4Q 2015
Mar 31, 2016 (LBO) – Sri Lanka’s statistics office said unemployment rate for the fourth quarter of 2015 has been estimated as 4.3 percent against the 5.0 percent reported for the third quarter of 2015. Releasing Sri Lanka’s Labour Force Survey results for the last quarter of 2015, Census and Statistics Department said estimated economically […]
PTL Watch: Sri Lanka bond yields drop further after auction
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Sri Lanka technology pioneers to speak at “LBR LBO Enterprise Summit 2016”
Mar 31, 2016 (LBO) – Despite being a developing country, Sri Lanka has created a number of technology leaders and innovators of international repute. When we consider that basic infrastructure is lacking in some parts of the island, this is a contradiction. And yet, Sri Lankans are familiar with this contradiction. Pioneers such as Kris […]
‘s GDP seen up 5.3-pct in 2016, investment to rise, says ADB
Mar 31, 2016 (LBO) – Sri Lanka’s gross domestic product (GDP) growth is expected to rise to 5.3 percent in 2016 as private sector investment picks up once fiscal reforms are committed , a new Asian Development Bank (ADB) report says. “Fiscal consolidation is to be put back on track by a revision of the […]
PTL Watch: Bond activity up, interest in long tenors
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Fitch upgrades Hemas Holdings to AA-; outlook stable
Fitch Ratings has upgraded Sri Lanka-based Hemas Holdings PLC’s (Hemas) National Long-Term Rating to ‘AA-(lka)’ from ‘A+(lka)’. The Outlook is Stable. It has also upgraded the National Long-Term Rating on Hemas’s senior unsecured debentures to ‘AA-(lka) from ‘A+(lka)’. The upgrade reflects the company’s improved business risk profile, which is aided by its strong presence in […]
Cost Management Maturity Model introduced to Sri Lanka
Mar 30, 2016 (LBO) – The first ever ‘Total Cost Management Maturity Model’ practice has been introduced to Sri Lanka by the Confederation of Indian Industry’s Total Cost Management (TCM) division. The signing of the MOU between Institute of Certified Management Accountants of Sri Lanka (CMA) and TCM was held recently at a cost accountants’ […]
Sri Lanka plans to issue up to USD3 bln in international sovereign bonds
Mar 30, 2016 (LBO) – Sri Lanka plans to issue international sovereign bonds up to three billion dollars in 2016, the Central Bank said, in a request for proposals to appoint lead managers or book runners. “As per the approved Sovereign Bond programme of the Government of Sri Lanka (GOSL), Central Bank of Sri Lanka […]
PTL Watch: Sri Lanka bond yields rise with auction
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Sri Lanka rates held unchanged after monetary policy meeting
Mar 29, 2016 (LBO) – Sri Lanka’s monetary board held interest rates unchanged after a monthly monetary policy meeting, surprising some market participants who expected a rate increase. Seven out of 13 economists expected the Central Bank to raise rates to tackle high credit growth and pressure on the Rupee, according to a poll done […]