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July 09, 2015 (LBO) – Sri Lanka’s Fitch ratings announced a correction to the rating published on 28 May 2015 to include disclosure language relating to Central Bank of Sri Lanka’s shareholding in Fitch Ratings Lanka Ltd that was missing from the previous version. The full statement follows: Correct: Fitch Rates Sri Lanka’s USD Bond […]
Sri Lanka’s growth rate numbers reduced in last two years with new base year change
July 09, 2015 (LBO) – Sri Lanka’s growth numbers in the last two years have been reduced with a new re-basing of national accounts estimates, Department of Census and Statistics said. Accordingly the growth rate for last year has been reduced from 7.4 percent to 4.5 percent and the growth in 2013 has been reduced […]
Sri Lanka and Australia to increase trade
July 9, 2015 (LBO) – The Sri Lanka Australia Chamber of Commerce (SLACC) was officially launched at the New South Wales Business Chamber Head Office in Sydney, Australia to increase trade activities between the two countries, a statement said. The SLACC is the first, and only integrated bilateral Chamber umbrella constituted in Australia, to foster […]
Greek Banks extend daily limit on ATMs
July 09, 2015 (LBO) – The government of Greece has extended bank closures and a 66 US dollar daily limit on ATM withdrawals until Monday, Foreign Media reports said.The European Central Bank has decided not to increase support for Greek banks until the debt crisis is resolved, the report said. This is ahead of the […]
The NYSE resumes trading after technical failure; rejects reports of cyber attack
July 09, 2015 (LBO) – The New York Stock Exchange resumed its trading activities after the exchange facing a major technical failure that suspended trading on Wednesday afternoon.“The issue we are experiencing is an internal technical issue and is not the result of a cyber breach,” the NYSE said in a statement.“We chose to suspend […]
Fitch Affirms Nine Sri Lankan Banks; Downgrades Sampath Bank
July 08, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the ratings on nine local banks while downgrading the national long term rating of Sampath Bank which reflects the weakening of its capitalization relative to peers, which offset benefits from the growth of its franchise. The full text of the press release issued by Fitch […]
Kerala government to start a tourism campaign in Sri Lanka
July 08, 2015 (LBO) – Kerala tourism department is to start an aggressive ‘Visit Kerala’ campaign in Sri Lanka, Kerala state tourism minister has said. “Around 2.2 lakh tourists from Sri Lanka visit India every year but very few travel to Kerala,” State tourism minister A. P. Anil Kumar has told Indian media. “We will […]
Sri Lanka may increase taxes for tobacco and alcoholic products in the next budget
July 8, 2015 (LBO) – Sri Lanka may increase the taxes for tobacco and alcoholic products in the coming budget as the economic loss for the country is threefold than the income from these products to the government, government official said.“We expects the government will take action with regard to the price of tobacco and […]
Sri Lanka stocks close down 0.6-pct; JKH lower
July 08, 2015 (LBO) – Sri Lanka’s stocks closed down 0.63 percent on Wednesday, a third consecutive day of declines, with index heavy stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed 43.99 points lower at 6,923.79 down 0.63 percent. The S&P SL20 closed 41.16 points lower at 3,850.37 lower at 1.06 […]
Sri Lanka’s 3 and 6 months Treasury bill yields up: Central Bank
July 8, 2015, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with 3-months yield up 03 basis points to 6.14 percent and 6-month yields also were also up 05 basis points, to 6.26 percent, data from the state debt office showed.It was decided to accept 12,918 million rupees from the […]
Sri Lanka exports to US rise with renewed GSP: Ministry of Industry & Commerce
July 8, 2015 (LBO) – Sri Lanka’s exports to United States are improving at a hectic pace helped by renewal of the GSP facility in June, Ministry of Industry and Commerce said in a statement. “US is the biggest consumer of Sri Lankan exports in the world as well as Lankan apparels,” Minister of Industry […]
Ranjan thanks Maithri for allowing Mahinda to contest under UPFA
July 08, 2015 (LBO) – Sri Lanka’s former Deputy Minister Ranjan Ramanayake says he is greatful to President Maithripala Sirisena for allowing Mahinda Rajapaksa to contest under the UPFA ticket.“We are very greatful to the President for allowing us to criticize a corrupted group as our opponents,” Ramanayake told reporters Wednesday.“Otherwise we have no other […]