Category: Markets
Sri Lanka can attract Japanese companies, bank: ambassador
Sept 17, 2015 (LBO) – Sri Lanka has great potential to attract Japanese investors who are interested in investing in the island, and as a gateway to India and Pakistan, Kenichi Suganuma, the ambassador for Japan in Sri Lanka, said.Although India is a big market it is not easy to do big business there, he […]
Sri Lanka’s Land Rover sees growing local demand
Sep 17, 2015 (LBO) –Land Rover’s sole authorized distributor in Sri Lanka, SML Frontier Automotive says that demand in the local market is growing at a fast pace with rise in per capita income in the island.“In our segment of the market it is the rise in the number of professionals in the country and […]
Sri Lanka’s Dialog increases stake in wow.lk
Sep 16, 2015 (LBO) – Sri Lanka’s Dialog Axiata has increased its stake from 46 percent to one hundred percent in e-commerce website, wow.lk, brokers said. “Dialog Axiata have increased its shareholding in Digital Commerce Lanka (Pvt) Ltd from 46 percent to 100 percent, through its subsidiary, Digital Holdings Lanka (Pvt) Ltd.,” Lanka Securities said. […]
Sri Lanka stocks close down 0.2-pct; Banking and finance losses following CB directive
Sep 16, 2015 (LBO) – Sri Lankan stocks closed down 0.21 percent on Wednesday with losses in the banking and finance stocks following a Central Bank directive to banks to reduce loan ratio on motor vehicles, brokers said. The Colombo benchmark All Share Price Index closed down 15.03 points at 7,137.40 lower 0.21 percent. S&P […]
Bank of Japan holds rates flat despite economic contraction
Sept 16, 2015 (LBO) – The Bank of Japan held interest rates unchanged on Tuesday despite calls for further monetary policy easing from the central bank after a 0.3 percent contraction of the Japanese economy in the second quarter. The contraction follows a similar 0.3 percent contraction in the third quarter of last year. “Japan’s […]
Sri Lanka stocks close down 0.14-pct: Lack of direction for investors
Sep 15, 2015 (LBO) – Sri Lankan stocks closed down 0.14 percent on Tuesday following with low investor sentiment and losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 10.01 points at 7,152.43 lower 0.14 percent. S&P SL20 closed 4.48 points lower at 3,915.15 down 0.11 percent. “There […]
‘s rate decision
Sept 14, 2015 (LBO) – U.S. analysts are deeply divided on whether the Fed should increase rates on September 17, it’s first rate hike in nearly a decade. Some believe a hike will be a major blunder slowing down an already vulnerable global economy, while others say the expansion is healthy enough and a cycle […]
Sri Lanka’s spending on dairy imports up 18-pct in 2014, exports drop 8-pct
Sep 11, 2015 (LBO) – Sri Lanka’s expenditure on dairy and dairy products imports rose by 18 percent from a year earlier to 44 billion rupees during 2014, a new report says. According to a report by the Ceylon Chamber of Commerce, import volumes increased three percent to 71 million kilograms, and the increase in […]
US DOJ issues new guidelines on corporate fraud prosecution
Sept 11, 2015 (LBO) – The U.S. Department of Justice says it would be better off focusing on individuals that commit corporate crimes rather than focus on companies, in new guidelines issued this week.This is a tacit acknowledgment of failure to prosecute individuals following the 2008 financial crisis, the Wall Street Journal reported. New rules […]
Sri Lanka stocks close down 0.3-pct; Asian markets lower
Sep 10, 2015 (LBO) – Sri Lankan stocks closed down 0.32 percent on Thursday following losses in regional markets with telecom and beverage sector stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed down 23.31 points at 7,159.94 lower 0.32 percent. S&P SL20 closed 12.83 points lower at 3,924.25 down […]
‘s stock crash a direct result of authoritarian policies: Razeen Sally
Sept 10, 2015 (LBO) – China’s stock bubble and subsequent crash that sent shockwaves across the global economy is the direct result of authoritarian policies, Razeen Sally from the National University of Singapore told Lanka Business Online.“The stock bubble is the direct result of government policies because the state-run financial system has few other profitable […]
Emerging market central bankers want Fed to raise rates: report
Sept 10, 2015 (LBO) – Central bankers in emerging markets want the US Federal Reserve to increase interest rates sooner rather than later to end market uncertainty.Central bankers in Indonesia, Peru and Mexico have commented that a rate hike at the September 16-17 or October Fed meetings would be good for their economies.“We think US […]