Category: Economy and Markets
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
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PTL Watch: Yields tick higher with bond auction
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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 […]
Sri Lanka foreign reserves at USD6.6bn; IMF support by mid 2016
Mar 16, 2016 (LBO) – Sri Lanka’s gross official reserves were estimated at 6.6 billion US dollars by today, Special Assignments Minister Sarath Amunugama said. Speaking at a media briefing Amunugama said it is sufficient for 4 months of imports. “It is recommended to keep at least 3 months of imports. So we are at […]
‘s GSP+ process on the right track: EU Commissioner
Mar 16, 2016 (LBO) – The European Union has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, a senior EU official said. With the election of the new government Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) […]
Aitken Spence Hotel Holdings invests Rs1.67bn in Ahungalla Resorts
Mar 15, 2016 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings has invested 1.67 billion rupees in 36 million shares in its subsidiary, Ahungalla Resorts Limited, the Company said in a stock exchange filing. The investment has carried out under the shareholders agreement entered between Aitken Spence Hotel Holdings, Riusa Ned BV, Riusa II S.A. […]