Category: Economy and Markets
Sri Lanka stocks close up 0.3-pct; Low investor activity
Jan 29, 2016 (LBO) – Sri Lankan stocks closed up 0.32 percent in anticipation of positive earrings and attractive Price Earrings levels with gains in banking stocks, brokers said. The Colombo benchmark All Share Price Index closed up 20.16 points at 6,340.05 up 0.32 percent. S&P SL20 closed 22.24 points up at 3,302.01 up 0.68 […]
Sri Lanka deepening trade agreements, exploring China FTA: Malik
Jan 29, 2016 (LBO) – Sri Lanka is deepening its free trade agreements with India and Pakistan, and negotiating an FTA with China, Malik Samarawickrama, minister of development strategies and international trade, said. “PM Modi’s ‘Make in India’ strategy will create opportunities for linking into new and expanding value chains in domestic as well as […]
Colombo inflation drops below 1-pct in January
Jan 29, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has dropped to 0.9 percent in January 2016 from a year earlier, down from 2.8 percent in December 2015 with the inflation index dropping 0.2 percent in the month, the state statistics office said. The CCPI for all items for the month of […]
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Fitch Ratings has affirmed the rating on SriLankan Airlines Limited’s (SLA) US dollar-denominated government guaranteed bonds at ‘BB-. KEY RATING DRIVERS The national carrier’s bonds are rated at the same level as SLA’s parent, the state of Sri Lanka, due to the unconditional and irrevocable guarantee of principal and interest of the notes provided by […]
PTL Watch: Buying in 2030 bond, profit taking later
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Sri Lanka trade deficit widens 1 pct in 11 months to Nov
Jan 28, 2016 (LBO) Sri Lanka’s trade deficit for the first eleven months of 2015 marginally increased by one percent to 7.6 billion dollars, the central bank said. Worker remittances declined 7.2 percent to 574.5 million dollars in November 2015, year-on-year, although cumulative inflow from remittances was up marginal 0.8 per cent to 6.4 billion […]
Sri Lanka foreign reserves estimated at USD7.3bln end Dec: CB
Jan 28, 2016 (LBO) – Sri Lanka’s gross official reserves were estimated at 7.3 billion US dollars by end December 2015, the Central Bank said. The figure remained unchanged from end November equivalent to 4.6 months of imports, while total foreign assets amounted to 9.1 billion US dollars, equivalent to 5.7 months of imports. During […]
Sri Lanka stocks close higher 0.05-pct
Jan 28, 2016 (LBO) – Sri Lankan stocks closed higher 0.05 percent with gains in some tobacco and beverage stocks, brokers said. The Colombo benchmark All Share Price Index closed higher 3.34 points at 6,319.89 up 0.05 percent. S&P SL20 closed 4.35 points up at 3,279.77 up 0.13 percent. Turnover was at 548 million rupees, […]
PTL Watch: 2026 bond accepted at 11.14 pct at auction
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Chances of March Fed rate hike drop after FOMC statement
Jan 28, 2016 (LBO) – The chances of a U.S. Fed rate hike in March dimmed after a FOMC policy statement on Wednesday acknowledged global economic risks, as analysts interpreted the carefully worded statement. The FOMC decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent after a two-day […]
Government should engage with public on FTAs: Deshal De Mel
Jan 28, 2016 (LBO) – Sri Lanka’s government needs to engage with the public when negotiating Free Trade Agreements with other countries, economist Deshal De Mel said. De Mel on his blog stated that local manufacturing and services enterprises may have disruptive impacts through the Free Trade Agreement with China. “It is curious that there […]
OPA worried about professional services agreement with India
Jan 27, 2015 (LBO) – The Organisation of Professional Associations (OPA) in a statement yesterday said it was deeply concerned about Sri Lanka’s intended bilateral agreement with India named “Economic Technology Cooperation Agreement (ETCA).” “OPA with 46 Associations of professionals of the country, having substantial professional resources in the country in any discipline, is of […]