Category: Economy and Markets
‘s budget headed in right direction: IMF
Nov 30, 2016 (LBO) – Sri Lanka’s budget for 2017 is headed in the right direction, especially in terms of primary deficit reduction, Eteri Kvintradze, the resident representative of the IMF, said on Tuesday. Kvintradze was speaking at Lanka Business Online’s LBR LBO Debrief: Economic & Business Climate Outlook 2017 which saw a full house […]
Sri Lankan rupee edges down on importer dollar demand; stx up
COLOMBO, Nov 29 (Reuters) – The Sri Lankan rupee traded marginally weaker on Tuesday, hurt by dollar demand from importers amid fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. The market shrugged off the central bank’s key monetary policy decision on […]
CCTV, new auction system among steps to strengthen bond trading: CB
Nov 29, 2016 (LBO) – Sri Lanka’s Central Bank has taken several steps to improve supervision and regulation of the government securities market, the Central Bank governor said on Tuesday. “The Central Bank has been trying to address some very difficult issues in these areas,” Governor Indrajit Coomaraswamy said. Among steps taken, the Public Debt […]
Sri Lanka budget deficit narrows in first nine months: CB
Nov 29, 2016 (LBO) – Sri Lanka’s budget deficit narrowed to 4.1 percent of GDP during the first nine months of the year helped by an increase in tax revenue, the Central Bank said on Tuesday. The budget deficit during the same period last year was 5. 1 percent of GDP. Government revenue was 9.6 […]
Monetary Board holds interest rates unchanged
Nov 29, 2016 (LBO) – Sri Lanka’s Monetary Board held interest rates unchanged after a monthly policy meeting with excessive credit growth beginning to slow and inflation remaining stable. The Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank remain unchanged at 7.00 per cent and 8.50 per […]
Asian markets mixed, December rate hike eyed
Nov 28, 2016 (LBO) – Japanese stocks traded weaker on Monday after seven straight sessions of gains, with Asian markets mixed, as the U.S. dollar pulled back from decade highs. The chances of a U.S. rate hike in December, seen at 93.6 percent for a 50 to 75 basis point increase, and 6.5 percent for […]
Dollar steadies with bonds, oil anxious about OPEC
SYDNEY, Nov 29 (Reuters) – The U.S. dollar took a breather on Tuesday as global bonds steadied from their recent rout, while equities flatlined as political risk resurfaced in Europe ahead of a referendum in Italy this weekend. Oil prices remained jittery in the countdown to Wednesday’s OPEC meeting but industrial commodities continued to benefit […]
Opinion: Changing nature of work necessitates a universal basic income
By Frances Coppola We have a crisis of work. The secure, well-paid jobs of the past — many of them in manufacturing — are disappearing. What is replacing them is insecurity and uncertainty. Low-paid, part-time, temporary and seasonal work. The “feast or famine” of self-employment. The so-called “sharing economy”, where people rent out their possessions […]
Sri Lankan rupee falls on importer dollar demand; stx flat
COLOMBO, Nov 28 (Reuters) – The Sri Lankan rupee edged down on Monday, hurt by demand for dollar from importers on fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. Dealers said foreign investors might pull out of emerging markets, including Sri […]
Sri Lanka shares end little changed; turnover slumps
Nov 25, 2016 (Reuters) – Sri Lankan shares ended little changed on Friday, hovering near eight-month lows, while turnover slumped as investors kept to the sidelines on concerns over recent tax proposals. The Colombo stock index ended 0.02 percent down at 6,252.12, and lost 1.17 percent during the week, marking its third straight weekly fall. […]
Sri Lankan rupee edges down on importer dollar demand; stx up
COLOMBO, Nov 25 (Reuters) – The Sri Lankan rupee was trading weaker on Friday due to dollar demand from importers who fear the economic policies of U.S. President-elect Donald Trump could lead to a rise in the greenback and interest rates. Dealers said foreign investors might pull out of emerging markets, including Sri Lanka, if […]
Anthony Shanil Fernando appointed to the CSE Board
(PRESS RELEASE) – The Colombo Stock Exchange (CSE) announces the appointment of Mr. Anthony M. Shanil Fernando as a Director of the CSE Board. Mr. Fernando, Attorney-at-Law, Solicitor, MBA, is a Senior Partner at Anton Fernando Associates Law firm. He is also the Chairman of AFA Corporate Services Limited and the Director of World Express […]