Category: Economy and Markets
New salaries commission to review public, private salary structures
Feb 24, 2016 (LBO) – The cabinet has decided to appoint a new Salaries and Cadre Commission to broadly and formally review salary structures and cadre requirements with a view to creating a more effective and contented Public Service. The proposed commission which will comprise of learned and experienced officers is also to formulate a […]
Sri Lanka stocks down 0.2-pct
Feb 24, 2016 (LBO) – Sri Lankan stocks closed down at 0.18 percent with losses in some banking and finance sector stocks with low retail investor activity, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.35 points down at 6,217.64 down 0.18 percent. The S&P SL20 closed 0.91 points down at 3,260.80 […]
PTL Watch: Buying in liquid 2030, 2041 Sri Lanka bonds
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‘t lose jobs
Feb 24, 2016 (LBO) – Sri Lanka is currently at the formulating stage of an “Economic Technology Cooperation Agreement” with India, Prime Minister Ranil Wickremesinghe said in Parliament Tuesday. This agreement will not lead to Sri Lankans losing jobs, he added. “We still haven’t seen India’s version. We have to put the two proposals together […]
Sri Lanka’s Nestlé unit net up 4-pct in Dec quarter
Feb 24, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group said profits rose 4 percent to 640 million rupees in the December 2015 quarter from a year earlier. The firm reported earnings of 11.92 rupees per share for the quarter against 11.44 rupees reported a year earlier. In the twelve months […]
Sri Lanka to get 100Mn loan from ADB for SME sector
Feb 23, 2016 (LBO) – Sri Lanka’s government signed a loan agreement with the Asian Development Bank (ADB) to borrow 100 million US dollars to implement a small and medium enterprise credit line project, the Finance Ministry said. “The project aims to increase the employment opportunities by strengthening the SME’s access to finance,” the Finance […]
Sri Lanka inflation NCPI decelerates 0.7-pct in Jan 2016
Feb 23, 2016 (LBO) – Sri Lanka’s consumer prices decelerated 0.7 percent in January from a year earlier, compared with a 4.2 percent rise in December, data from the state statistics office showed. In December, inflation rose at a slower pace as compared with November’s 4.8 percent, the new index with a base year of […]
Sri Lanka lending to increase to USD 2Bn by 2016: ADB President
Feb 23, 2016 (LBO) – Asian Development Bank said it will scale up lending to Sri Lanka to 2 billion US dollars in loans and equity in 2016 through 2018 compared to the 1.5 billion US dollars in the past three years. “ADB is re-orienting its operations to meet the evolving needs of Sri Lanka […]
PTL Watch: Sri Lanka bond yields climb 30-40bps after rate hike
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Sri Lanka’s Ceylon Tobacco unit profits down 7.7-pct in Dec
Feb 20, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco fell 7.7 percent to 1,834 million rupees in the December quarter, interim accounts showed. The firm reported earnings of 9.79 rupees per share for the quarter compared to earnings of 10.61 rupees per share posted a year ago. Gross revenue […]
Sri Lanka Central Bank hikes interest rates by 50 bp
Feb 19, 2016 (LBO) – Sri Lanka’s Central Bank hiked interest rates after a monthly policy meeting due to risks to the macroeconomy from excessive money supply growth and a continued trend in inflation, a statement said. The decision surprised the market, with 10 out of 14 economists not expecting rates to go up, according […]
”: Fitch
Feb 19, 2016 (LBO) – Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ and affirmed the Fund Volatility Rating at ‘V5’. The fund is managed by Ceylon Asset Management (CAM). The full statement follows: Fitch Affirms Ceylon Dollar Bond Fund at ‘BB-/ V5‘ Fitch Ratings-London/Colombo-19 February 2016: Fitch Ratings has […]