Category: Economy and Markets
Sri Lanka relaxes exchange controls, foreign investment in corporate debt
May 29, 2014 (LBO) – Sri Lanka has allowed foreign investors to buy debt securities of unlisted private companies also relaxed a series of exchange controls on letters of credit and education expenses. The liberalization will takes effect from May 28, the Central Banks said. The full statement from the Central Bank is reproduced below:- […]
Foreign direct investment in to Sri Lanka doubles to US442mn in 1Q
May 29, 2014 (LBO) – Foreign direct investments into Sri Lanka doubled from a year earlier to 442 million US dollars in the first quarter of 2014, investment promotion minister Lakshman Abeywardena said.This year Sri Lanka is expecting 1.5 billion US dollars Minister Abeywardena said. He said 36 percent of the investments came into tourism, […]
‘s central bank does not want the rupee to appreciate quickly: Deputy Governor
May 28, 2014 (LBO) – Sri Lanka’s Central Bank did not want the rupee to appreciate quickly and had bought dollars heavily in the market to prevent an appreciation and help exporter profits, Deputy Governor, Ananda Silva said.Analysts say a flurry of dollar purchases in excess of inflows then pressure the exchange rate which may […]
Sri Lanka long bond yields slightly up
May 28, 2014 (LBO) – Sri Lanka’s long bond yield rose slightly at an auction Tuesday according to data from the state debt office, through keeping broadly in line with secondary market rates. But a rise in Treasuries yields may indicate greater demand for private credit. Over the past year, Treasuries yields have fallen, mostly […]
Sri Lanka stocks close higher
May 28, 2014 (LBO) – Sri Lanka’s stocks closed in positive directions on Wednesday despite relatively low foreign participation on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 5.32 points higher at 6,272.76 up 0.08 percent. The S&P SL20 closed 3.40 points higher at 3,450.65, up 0.10 percent. Turnover was 451.16 […]
Sri Lanka borrows US$275mn from ADB for roads, education
May 27, 2014 (LBO) – The Asian Development Bank said it would loan 175 million US dollars to build roads and boost the state university system to generate graduates that more employable.ADB will give 100 million US dollars for Sri Lanka government’s skills sector development program which plans to reduce a mismatch between the competencies […]
Sri Lanka stocks close down 0.4-pct
May 27, 2014 (LBO) – Sri Lanka’s stocks closed down 0.41 percent with telco stocks losing ground despite continued low foreign participation, brokers said. Bukit Darah closed 14.00 rupees lower at 636.00 rupees and Lion Brewery Ceylon closed 17.80 rupees lower at 432.10 rupees. Asian Hotels and Properties closed 1.90 rupees lower at 70.20 rupees […]
‘s forex reserves US$8.1bn; BOP surplus up with weak credit
May 26, 2014 (LBO) – Sri Lanka’s balance of payments surplus or the gap between international receipts and payments widened to 828.8 million US dollars, the Central Bank said as weak domestic credit dampened imports. However when credit is weak not all of the inflows are spent, generating excess liquidity in the domestic money markets […]
Sri Lanka stocks close up 0.2-pct
May 26, 2014 (LBO) – Sri Lanka’s stocks closed up with telco and other index heavy stocks gaining despite low foreign participation, brokers said. Sri Lanka Telecom closed 70 cents higher at 48.80 rupees and Asian Hotels and Properties closed 2.10 rupees higher at 72.10 rupees, contributing most to the index gain. Lion Brewery Ceylon […]
Sri Lanka employment diversity forum by SLASSCOM with all female panel
May 25, 2014 (LBO) – Sri Lanka’s information technology chamber is has organized a forum on workplace diversity, with a top Microsoft executive and academic to deliver the keynote speech. Sri Lanka Association of Software and Service Companies (SLASSCOM) is hosting the breakfast briefing on Increasing Diversity and Inclusiveness in the Contemporary Workforce on Tuesday […]
‘s data which could be used to expand ruler powers over people flawed: report
LONDON, May 24, 2014 (AFP) – French economist Thomas Piketty’s best-selling book on income inequality is flawed by errors in his data, the Financial Times newspaper said Saturday.An investigation by the British broadsheet found there was little evidence in the 43-year-old’s original sources to underpin his argument that an increasing share of total wealth is […]
Sri Lanka EPF running out of cash as workers age: legislator
May 24, 2014 (LBO) – Sri Lanka’s Employee’s Provident Fund is running out of new cash to repay beneficiaries as the private sector population age rapidly but attempts by the state to deny withdrawals at maturity will be resisted, a legislator said.Withdrawals were 48.7 billion rupees in 2012 and 50.2 billion rupees and the cash […]