Category: Economy and Markets
Laugfs launches virtual shopping site in Sri Lanka
Jan 25, 2016 (LBO) – Sri Lanka’s Lfinity Pvt Limited, a subsidiary of Laughfs Holdings, announced the launch of a virtual hyper mall, ‘clickNshop.lk’, a statement said. This is the latest e-commerce site for Sri Lankan shoppers and offers a selection of over 2,000 products and services for everyday needs and guaranteed 2-3 day island-wide […]
Interview: Listing of Sri Lanka non-strategic investments may take a year, says Eran
Jan 25, 2016 (LBO) – Sri Lanka’s government is putting in place processes to list some of its non-strategic investments on the Colombo Stock Exchange, although this may not take place immediately, Eran Wickramaratne, deputy minister of Public Enterprise Development, told Lanka Business Online. “Within a year that’s possible. But whatever we are doing, we […]
PM holds meetings with Branson, other investors
Jan 24, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe and government officials met several business leaders and heads of state on the sidelines of the World Economic Forum. Richard Branson of the Virgin group, Cyrus Mistry, chairman of the Tata Group, Kevin Sneader of McKinsey and Company and Jean-Philippe Courtois, President of Microsoft […]
Korea EXIM Bank opens representative office in Sri Lanka
Jan 22, 2015 (LBO) – The Export-Import Bank of Korea, an official export credit agency of the Republic of Korea, announced Friday the opening of their representative office in Colombo. This new presence comes in response to increased bilateral ties between the governments of Korea and Sri Lanka, in trade, foreign direct investment, development assistance, […]
PTL Watch: Foreign selling, 2021 bond up 5-10bp
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Central Bankers should have dual mandate, says author of HDR 2015
Jan 22, 2016 (LBO) – Central Bankers in the modern era should have a dual mandate which concentrate on employment targeting in addition to conventional inflation targeting, lead author of the 2015 Global Human Development Report said. Making the South Asian regional release yesterday in Colombo Selim Jahan stated that enhancing human development through work […]
Sri Lanka has perverse link between trade and budget deficit: Nishan de Mel
Jan 22, 2016 (LBO) – Sri Lanka’s economic policy is governed by political pressures which is evident in the perverse link between the trade deficit and the budget deficit, a top economist observed. Nishan de Mel of Verité Research says the inconsistency in government policies is the key underlying problem contributing to this issue. Trade […]
Sri Lanka inflation NCPI at 4.2-pct in December 2015
Jan 21, 2016 (LBO) – Sri Lanka’s consumer prices rose 4.2 percent in the 12-months to December 2015 from a year earlier, data from the state statistics office showed. In November 2015, the index which is termed as National Consumer Price Index reported 4.8 percent inflation. Year on year inflation of Food Group has been […]
Central Bank negotiating with IMF for SBA: Amunugama-Updated
Jan 21, 2015 (LBO) – The Central Bank is negotiating with the IMF for a one billion dollar stand-by arrangement, Special Assignments Minister Sarath Amunugama said at an SLFP media briefing, according to a media report. Amunugama said discussions were ongoing and the first tranche of the SBA could come in by late February or […]
Sri Lanka stocks closed up 1.6-pct
Jan 21, 2016 (LBO) – Sri Lankan stocks closed up 1.59 percent after four days of losses with gains across the board as regional markets were also all in the green, brokers said. The Colombo benchmark All Share Price Index closed higher 99.38 points at 6,360.56 up 1.59 percent. S&P SL20 closed 44.61 points up […]
PTL Watch: Mid-tenor bonds up 20 to 30 basis points
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China eyes more investment opportunities in Sri Lanka: PM (VIDEO)
Jan 21, 2016 (LBO) – Prime Minister Ranil Wickremesinghe said in Switzerland that Sri Lanka is expecting more investments from the China apart from the ongoing infrastructure projects. “Infrastructure alone is not sufficient and we are discussing bringing more Chinese investments,” Wickremesinghe said at a press conference held during the World Economic Forum in progress in […]