Category: Economy and Markets
Sri Lanka to establish a regulatory council to monitor issues in finance sector
Oct 20, 2014 (LBO) Sri Lanka’s cabinet of ministers had given approval to establish an Inter Regulatory Institutions Council with a view of identifying issues that require collective action by financial sector regulators.Establishment of the council plans to promote financial system stability and the development of the financial sector. Financial institutions include licensed banks, licensed […]
Sri Lanka stocks close down 0.31-pct
Oct 17, 2014 (LBO) – Sri Lanka’s indices closed lower Friday with banking and diversified stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 22.60 points lower at 7,234.47, down 0.31 percent. The S&P SL20 closed 26.84 points lower at 4,029.55, down 0.66 percent. Turnover was 1.02 billion rupees, down from […]
Sri Lanka stocks close down 0.44-pct
Oct 16, 2014 (LBO) – Sri Lanka’s indices closed in the red with telco and banking stocks losing ground despite strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 31.76 points lower at 7,257.07, down 0.44 percent. The S&P SL20 closed 8.45 points lower at 4,056.39, down 0.21 percent. Turnover was […]
EXIM Malaysia sees expanding investments with Sri Lanka
Oct 16, 2014 (LBO) – Malaysian Export Import (EXIM) bank said that they are looking at opportunities in investing and helping with the rapid economic development in Sri Lanka. We are very much delighted to be here, Adissadikin Bin Ali, President and the Chief Executive of EXIM Bank Malaysia said. I have seen very impressive […]
Sri Lanka shares close up 1.16-pct
Oct 15, 2014 (LBO) – Sri Lanka’s shares gained on Wednesday with the positive price movements in banking and diversified stocks amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 83.36 points higher at 7,288.83, up 1.16 percent. The S&P SL20 closed 53.09 points higher at 4,064.84, up 1.32 percent. […]
Sri Lanka 12-month Treasuries up, other bids rejected
Oct 15, 2014 (LBO) – Sri Lanka’s 12-month Treasuries yield increased 11 basis points to 6.00 percent at Wednesday’s auction while the state debt office rejected bids for other maturities. The debt office which is a part of the island’s central bank has accepted 14.74 billion in 12-month treasury bills after offering 8.00 billion in […]
’s
Oct 13, 2014 (LBO) – Sri Lanka needs a credit rating system especially for the small and medium businesses to have easy access to finance, said Saman Kelegama, director of the Institute of Policy Studies, a think tank. Access to finance remains a key constraint for SME’s growth, with a one trillion dollar credit gap […]
Sri Lanka stocks close down 1.9-pct
Oct 13, 2014 (LBO) – Sri Lanka’s stocks closed 1.87 percent lower amid banking stocks losing ground with the central bank’s guidelines on tax incentives to promote financial sector consolidation, brokers said. Commercial Bank of Ceylon closed 9.90 rupees lower at 157.30 rupees and DFCC Bank closed 14.40 rupees lower at 215.40 rupees, contributing most […]
’s: Chamber
Oct 13, 2014 (LBO) – Sri Lanka’s small and medium enterprises are encouraged to partner with big companies, so they could take advantage of consumer market and finance. The forum has organized by the Ceylon Chamber of Commerce who will bring together all stakeholders in the SME sector including policy makers, banks, service providers, technocrats […]
’s pensioners to get a digital ID
Oct 11, 2014 (LBO) – Sri Lanka’s Department of Pensions launches a digital identity card for pensioners in partnership with Sampath Bank, a private lender in the island, the bank said in a media release. The official launch of the card held 9th September 2014 at Pensioners ’Resort in Kelaniya with the participation of over […]
Sri Lanka gets US$1.3bn in FDI by October: Ministry of Investment Promotion
Oct 11, 2014 (LBO) – Sri Lanka is estimated to have received about 1.3 billion US dollars of foreign direct investment by October 2014, investment promotions minister Lakshman Abeywardene said. There will be 23,600 new jobs created if these FDI’s successful. BOI enterprises have exported 4.84 billion US dollars’ up to October worth of goods […]
’s Central Bank asks banks to reduce pawning advances interest rate
Oct 10, 2014 (LBO) – Sri Lanka’s Central Bank has requested all banks who are participating in the Credit Guarantee Scheme supported by the Government to reduce the applicable interest rate for such pawning advances to 12 per cent from the current rate of 15 per cent, with immediate effect. At present, 12 banks have […]