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‘s Comm Bank opens money transfer from Italy
Nov 28, 2016 (LBO) – Commex Sri Lanka, a fully-owned subsidiary of Commercial Bank of Ceylon, has inaugurated its money transfer operation in Italy, following the grant of a money transfer licence from the Bank of Italy. The bank said Commex Sri Lanka of Via Giacomo Leopardi, Rome, incorporated and registered in Italy under the […]
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 […]
Sri Lanka establishes resident mission in Ethiopia
Nov 28, 2016 (LBO) – Sri Lanka has established a resident mission in Addis Ababa, Ethiopia to broaden ties with the nation located in the Horn of Africa. “With a view to broadening political, trade and economic relations with Ethiopia and also forge closer relations with the African Union (AU) that is headquartered in Addis […]
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 […]