Category: Economy and Markets
Sri Lanka wants to maintain rates at current levels: CB Governor
Feb 25, 2016 (LBO) – Sri Lanka’s central bank governor hopes interest rates can be maintained at current levels, after a 50 basis point rate hike last week, but this will be determined by external factors, he said. The island’s policy rates are at 6.5 percent and 8 percent, while 10-year treasury bond yields have […]
Chamber welcomes ETCA; urges consultations with private sector
Feb 25, 2016 (LBO) – The Ceylon Chamber of Commerce has hailed the proposed Economic and Technology Cooperation Agreement (ETCA) with India, but has urged Systematic Consultations with the Private Sector. The chamber said in a statement that any bilateral or regional agreement that Sri Lanka forges must be supportive of the country’s holistic economic […]
SEC reconsiders minimum public float rule: CSE
Feb 25, 2016 (LBO) – Sri Lanka’s securities regulator is reconsidering the minimum public float rule as the intention of introducing such rule was not met, a senior official at the CSE said. Chief Executive Officer at the Colombo Stock Exchange Rajeeva Bandaranaike said the intention of introducing the minimum holding rule was to encourage […]
PTL Watch: Yields tick up, trading in long-term maturities
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ETCA can be a wake up call for Sri Lankans: professionals
Feb 25, 2016 (LBO) – Sri Lankan professionals say integration with India through the Economic and Technical Cooperation Agreement (ETCA) is a must for the islands future development. “Yes, ETCA is needed. We have labour problem and if Sri Lankans can’t do it and we don’t have the people then we have to bring them […]
Emerging markets offer long-term opportunity: Research Affiliates
Feb 25, 2016 (LBO) – Christopher Brightman, Research Affiliates’ Chief Investment Officer, says the exodus from emerging markets offers wonderful opportunity for opportunistic investors. Brightman shares market insights for global investment management firm PIMCO’s All Asset funds. PIMCO has 1.4 trillion dollars in assets under management, and their market insights can be read here. Q: […]
Dialog ventures into digital health with Asiri Hospitals
Feb 24, 2016 (LBO) – Digital Holdings Lanka, a wholly owned subsidiary of Dialog Axiata has entered in to a joint venture agreement with Asiri Hospital Holdings yesterday to provide digital health solutions. Digital Holdings holds 70 percent of the shareholding and Asiri Hospitals holds the balance 30 percent of the joint venture that was […]
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 […]