Category: Economy and Markets
Sri Lankan rupee trades firm on bank, exporter dollar sales
COLOMBO, Nov 10 (Reuters) – The Sri Lankan rupee traded slightly firmer on Thursday as dollar selling by exporters and banks outpaced demand for the greenback from importers ahead of the national budget, dealers said. Rupee forwards were active, with spot-next forwards trading at 147.75/148.00 per dollar at 0600 GMT compared with Wednesday’s close of […]
Nestlé Lanka’s growth at 6.1-pct in first nine months of 2016
(PRESS RELEASE) Nestlé Lanka’s growth at 6.1 % in first nine months of 2016 Sales of Rs.27.8 billion with 6.1% growth Net Profit ofRs. 3.5 billion Focuses oninnovation and renovation, in line with Nutrition, Health and Wellness agenda Recognized for work done on positively impacting local communities, supporting economic development and deliveringworld class locally manufactured […]
U.S. markets rally after fears over Trump
Nov 10, 2016 (LBO) – US share markets rose on Wednesday shrugging off concerns that a Donald Trump presidential victory was bad for Wall Street. The Dow Jones rallied 1.4 percent, S&P 500 1.1 percent and Nasdaq rose 1.1 percent, after the pre-open futures market initially forecast a sell-off of as much as 4 percent […]
Sri Lanka govt approves phase 2 of Central Expressway, only single bidders
Nov 09, 2016 (LBO) – Sri Lanka’s cabinet has given the nod to build the second section of Central Expressway which runs from Mirigama to Kurunegala for 39.29 kilometers. The contract in this regard has been divided into four (04) packages and only one set of bidders submitted proposals for each of four civil work contract packages. […]
What you need to know when transferring funds in and out of Sri Lanka – RIU
(PRESS RELEASE) During a recent RIU (Research Intelligence Unit) Investor forum in London, it was found that the number one cause of both confusion and concern amongst non-resident Sri Lankans (NRSL) was the perceived lack of clarity on how funds can be channeled in and out of Sri Lanka from the U.K and other parts […]
Sri Lankan rupee trades firmer on dollar selling by banks
COLOMBO, Nov 9 (Reuters) – The Sri Lankan rupee was trading firmer on Wednesday as dollar selling by banks outpaced demand for the greenback from importers as the U.S. currency fell, dealers said. The U.S. dollar sank and stocks plummeted as mayhem came to world markets on Wednesday as investors faced the possibility of a […]
Dollar spooked in Asia as US polls too close to call
SYDNEY, Nov 9 (Reuters) – Asian markets were on tenterhooks on Wednesday as early state exit polls in the U.S. presidential election showed wins for both candidates and no clear trend as yet, causing a nervous shift back to safe haven assets. Asian stocks and U.S. stock futures edged 0.5 percent higher in volatile trade, […]
Budget 2017 will rectify all anomalies: Finance Minister
Nov 09, 2016 (LBO) – Sri Lanka’s Minister of Finance said that the 2017 Budget will be a pro-growth budget which will focus on the deficiencies for the last several years. “Accordingly the budget would have proposals to rectify all the anomalies that are there to deal with export sector to create job,” Ravi Karunanayake, […]
Hayleys PLC profits down due to Rs.459Mn, Tea and Rubber losses
(PRESS RELEASE) – (November, 07, 2016): Sri Lanka’s leading diversified conglomerate, Hayleys PLC recorded a sharp increase of 18% Year-on-Year (YOY) increase in revenue, with growth in Construction, Agriculture, and Hand Protection sectors supporting the Group to post revenue in excess of Rs. 52 billion by the end of the first half of 2016 (1H16). […]
Sri Lankan rupee firmer on exporter dollar sales; stocks down
COLOMBO, Nov 8 (Reuters) – The Sri Lankan rupee edged up on Tuesday as dollar selling by exporters outpaced demand for the greenback from importers, dealers said. Rupee forwards were active with one-week forwards trading at 148.15/25 per dollar at 0610 GMT, compared with Monday’s close of 148.20/30. “Overall, trading was dull. We expect the […]
GAAM: Net inflow of Rs534 mln for the week
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/11/Weekly-Report-GAAM-05-11-16.pdf” title=”weekly-report-gaam-05-11-16″]
Budget 2017 will bring change to Sri Lanka: Ravi K
Nov 08, 2016 (LBO) – Sri Lanka’s Budget 2017 will reduce cost of living and strengthen investments, the Finance Minister said. “Steps have been taken in the forthcoming budget to reduce cost of living while measures have been taken to strengthen investment in the country,” Ravi Karunanayake, Finance minister said following meetings with two former […]