Category: Economy and Markets
Sri Lanka official reserves drop by USD1bn in January
Feb 08, 2016 (LBO) – Sri Lanka’s official reserves have dropped by one billion US dollars to 6,301. 25 million dollars in January 2016 from 7,303.64 million dollars from a month ago, Central Bank data showed. Sri Lanka’s reserves are categorized in terms of five main items namely: foreign currency reserves, IMF reserves, special drawing […]
PTL Watch: Attention on long term Sri Lanka maturities
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/02/08th-February-2016-PDF.pdf”]
Labour cost not critical to attract multinationals: economist
Feb 08, 2016 (LBO) – Inter-country differences in labour cost do not seem to explain differences among developing countries in their success in joining global production networks, an economist said. Global production networks or GPN refer to interrelations among global firms specializing in different segments of a given product. These networks focus on vertically integrated […]
IMF urges Sri Lanka govt to narrow fiscal deficit
Feb 05, 2016 (LBO) – The International Monetary Fund urged the Sri Lankan government to narrow the fiscal deficit after a staff mission to Colombo this week to discuss economic developments. “The mission has advised the government to urgently make a stronger effort to narrow the fiscal deficit and put the public finances on a […]
Central Bank relaxed restrictions on remitting foreign currencies
Feb 05, 2016 (LBO) – The Central Bank has relaxed restrictions on remitting and transacting foreign currencies with immediate effect. With this new decision, foreign currencies can be remitted out of NRFC, RFC and RNNFC (Resident Non National Foreign Currency) accounts and FEEA (Foreign Exchange Earners’ Account) for any purpose and prior approval need not […]
Colombo Stock Exchange CDS partners with LankaPay
Feb 05, 2016 (LBO) – The Central Depository System (CDS), a fully owned subsidiary of the CSE, has partnered with LankaPay, the national payment network, to provide a fully-fledged digital experience to its settlement banks via the CDS – Digitalized Settlement Schedule Signing (DS3) online portal. This solution was enabled via LankaPay’s service arm, LankaSign, […]
PTL Watch: LKR20.7Bn accepted at Sri Lanka bond auction
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/02/05th-February-2016-PDF.pdf”]
Megapolis plan aims for flexible working hours
Feb 05, 2016 (LBO) – Sri Lanka’s recently unveiled Megapolis plan of development envisages flexible working hours as one aspect of transport demand management to address Colombo traffic congestion. “Flexible working hours can be introduced in public and private institutions to spread peak load of traffic flow,” the Megapolis masterplan states. “Employees can adjust their […]
Interview: Sri Lanka needs to be brave and open up, says Harsha
Feb 03, 2016 (LBO) – Sri Lanka’s Deputy Minister of Foreign Affairs said that closing boarders in fear will not help small countries like Sri Lanka to move forward. “Look at Vietnam they are opening up and signing the Trans Pacific Partnership – they brought in close to 15 billion dollars in foreign direct investments […]
PTL Watch: Foreign selling, local demand for 2021 bond
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/02/03rd-February-2016-PDF.pdf”]
Textured Jersey Lanka net up 79-pct in Dec quarter
Feb 03, 2016 (LBO) – Profits at Textured Jersey Lanka, a fabric maker, rose to 672 million rupees in the December 2015 quarter up 79 percent from a year earlier, the firm said. Textured Jersey reported earnings of 1.02 rupees per share for the quarter in accounts filed with the Colombo Stock Exchange. In the […]
Ceylon Chamber Investor Forum attracts foreign interest
Feb 03, 2016 (LBO) – The upcoming ‘Sri Lanka Investment & Business Conclave 2016,’ organized by the Ceylon Chamber of Commerce is getting interest from international parties, the Chamber said in a statement. Over 30 investors from countries such as Australia, Bangladesh, China, Egypt, Germany, Georgia, Kuwait, Pakistan and Singapore have registered to take part […]