Category: Economy and Markets
‘l Trade Minister
Sep 14, 2015 (LBO) – Sri Lanka will not discuss or sign the Comprehensive Economic Partnership Agreement, during the prime minister’s official visit to India, Development Strategies and International Trade Minister Malik Samarawickrama said in a statement. Commenting further on CEPA Samarawickrama says: “Entering into trade agreements with other countries is not far-fetched considering the […]
ICRA Lanka assigns A-(Stable) rating to First Capital Treasuries
Sep 14, 2015 (LBO) – ICRA Lanka has assigned the Issuer rating of [SL] A- with stable outlook to First Capital Treasuries Limited. The rating agency has also assigned the [SL] BBB+ rating with stable outlook to the 500 million rupees Subordinated Unsecured redeemable Debenture programme of the company. The full text of the rating; […]
‘s rate decision
Sept 14, 2015 (LBO) – U.S. analysts are deeply divided on whether the Fed should increase rates on September 17, it’s first rate hike in nearly a decade. Some believe a hike will be a major blunder slowing down an already vulnerable global economy, while others say the expansion is healthy enough and a cycle […]
Hayleys employees benefit from share trust dissolution
Sept 13, 2015 (LBO) – Employees of Hayleys PLC will benefit from the dissolution of its Employees’ Share Trust and hold shares worth around a billion rupees, an official said.The trust was set up to fight a takeover bid by the Carsons Group, and according to the company, was allotted 2.4 million ordinary shares of […]
Japan looks for investment opportunities in Sri Lanka: Finance Minister
Sep 11, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that Japan has showed interest in investing in wide areas of activities in terms of investment and infrastructure development. “They are looking for five different activities, especially in the infrastructure area and the intention that has been displayed by them is phenomenal,” Karunanayake […]
Sri Lanka’s spending on dairy imports up 18-pct in 2014, exports drop 8-pct
Sep 11, 2015 (LBO) – Sri Lanka’s expenditure on dairy and dairy products imports rose by 18 percent from a year earlier to 44 billion rupees during 2014, a new report says. According to a report by the Ceylon Chamber of Commerce, import volumes increased three percent to 71 million kilograms, and the increase in […]
US DOJ issues new guidelines on corporate fraud prosecution
Sept 11, 2015 (LBO) – The U.S. Department of Justice says it would be better off focusing on individuals that commit corporate crimes rather than focus on companies, in new guidelines issued this week.This is a tacit acknowledgment of failure to prosecute individuals following the 2008 financial crisis, the Wall Street Journal reported. New rules […]
IMF has not made budget proposals: Finance Minister
Sep 10, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that no budget proposals have been made by the visiting mission from the International Monetary Fund who met him on September 09 ahead of the budget in November.“IMF comes on a normal routine but we have very clearly told them that we will […]
Sri Lanka stocks close down 0.3-pct; Asian markets lower
Sep 10, 2015 (LBO) – Sri Lankan stocks closed down 0.32 percent on Thursday following losses in regional markets with telecom and beverage sector stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed down 23.31 points at 7,159.94 lower 0.32 percent. S&P SL20 closed 12.83 points lower at 3,924.25 down […]
Sri Lanka falls on Open Budget Index 2015, says Verité
Sep 10, 2015 (LBO) – Sri Lanka has ranked among countries in the world that provides the public with minimal budget information, a new survey showed.International Budget Partnership released its latest survey which measures the state of budget transparency, participation, and oversight in 100 countries around the world. The Open Budget Index measures the level […]
‘s stock crash a direct result of authoritarian policies: Razeen Sally
Sept 10, 2015 (LBO) – China’s stock bubble and subsequent crash that sent shockwaves across the global economy is the direct result of authoritarian policies, Razeen Sally from the National University of Singapore told Lanka Business Online.“The stock bubble is the direct result of government policies because the state-run financial system has few other profitable […]
Emerging market central bankers want Fed to raise rates: report
Sept 10, 2015 (LBO) – Central bankers in emerging markets want the US Federal Reserve to increase interest rates sooner rather than later to end market uncertainty.Central bankers in Indonesia, Peru and Mexico have commented that a rate hike at the September 16-17 or October Fed meetings would be good for their economies.“We think US […]