Category: Economy and Markets
Market Watch: Eyes on policy decision, liquidity in surplus (Updated)
(Updated with 330 billion rupee CBSL holding of government securities) Dec 30, 2016 (LBO) – All eyes were on the Sri Lanka monetary policy decision to be announced later on Friday, with secondary market bond yields ticking slightly higher. Dealers said the central bank was likely to keep rates steady, though there was pressure to […]
Sri Lankan rupee falls ahead of c.bank decision on policy rates
Dec 30, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Friday due to unusual year-end dollar demand from importers and ahead of an announcement on monetary policy by the central bank later in the day, dealers said. Sri Lanka’s central bank is most likely to keep its key interest rates steady on Friday, […]
‘s share of Chinese FDI going into Asia low: policy paper
Dec 30, 2016 (LBO) – Sri Lanka, which runs a trade deficit with China, should aim to increase the island’s share of Chinese FDI going into Asia, a policy paper by the Lakshaman Kadirgamar Institute says. The paper argues that Sri Lanka’s relatively low rank among China’s economic partners challenges some claims about China’s contributions […]
Sri Lankan shares hit more than 1-wk closing high; PABC boosts turnover
Dec 29, 2016 (Reuters) – Sri Lankan shares touched a more than one-week closing high on Thursday led by financials, with shares of Pan Asia Banking Corporation Plc accounting for 85 percent of the day’s turnover. The Colombo stock index finished 0.28 percent higher at 6,245.71, moving away from its lowest close since April 6 […]
Sri Lankan rupee ends steady amid moral suasion
Dec 29, 2016 (Reuters) – The Sri Lankan rupee closed steady on Thursday as light importer dollar demand was met by exporter selling and moral suasion by the central bank boosted sentiment, dealers said. They said the local currency might weaken in January after the central bank’s comment on Friday that the rupee’s depreciation was […]
PTL Watch: Range-bound trading in Sri Lanka bonds
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Sri Lanka Melstacorp share trading commences from tomorrow
Dec 29, 2016 (LBO) – Sri Lanka’s newly formed Melstacorp, the holding company of Distilleries, said its shares will commence trading on the Colombo Stock Exchange from tomorrow. In a stock exchange filing, the company said these shares will be classified under the ‘Diversified Holdings’ sector. A total of 1,165,397,072 ordinary voting shares are to […]
Central Bank invites proposals for USD1bn 3-year foreign financing facility
Dec 28, 2016 (LBO) – Sri Lanka’s Central Bank today said the government intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in USD up to a limit of 1 billion dollars in 2017. The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD […]
Sri Lankan shares rise nearly 0.5 pct in high turnover
Dec 28, 2016 (Reuters) – Sri Lankan shares closed about half a percent higher on Wednesday, recovering from a more than eight-month closing low hit in the previous session, led by blue chips such as John Keells Holdings and Hatton National Bank. Turnover was 1.73 billion rupees ($11.59 million), more than twice the daily average […]
‘s USD75mn Social Safety Nets Project
Dec 29, 2016 (LBO) – Sri Lanka has signed a 75 million dollar World Bank credit to support the country’s welfare programs. The project includes an integrated system to better manage the selection, administration, and payments to beneficiaries. It will help improve the equity, efficiency and transparency of the social safety net system, a statement […]
Sri Lanka Central Bank most likely to keep rates steady: POLL
Dec 28, 2016 (Reuters) – Sri Lanka’s central bank is most likely to keep its key interest rates steady on Friday, even as some economists expect further tightening to ease pressure on the rupee following the Fed rate hike earlier in the month, a Reuters polls showed. The central bank has already tightened its monetary […]
Sri Lankan rupee falls on dollar demand; c.bank raises spot reference rate
Dec 28, 2016 (Reuters) – Sri Lankan rupee fell on Wednesday on modest dollar demand after the central bank raised the spot reference rate, while the apex bank’s new limit on one-week forwards capped further loss, dealers said. The market, however, awaited further clues from the central bank after it said on Friday that depreciation […]