Category:
Sri Lanka poised for a shopping spree, basic goods drive demand
Nov 23, 2016 (LBO) – Sri Lankans still demand basic products such as refrigerators and washing machines due to the country’s low penetration levels although income levels of consumers have improved significantly, an official from the consumer durables industry said. “The consumer durables industry is primarily driven by growth in disposable income, but while income levels have improved, […]
SL-China trade crosses USD4bn, 93-pct imports from China
Nov 23, 2016 (LBO) – Bilateral trade between Sri Lanka and China has crossed the 4 billion US dollar threshold for the first time last year, the industry and commerce minister revealed. The total trade turnover between Sri Lanka and China which was at 659 million US dollars in 2005, has surged to 4 billion […]
Korea Eximbank to establish two vocational training institutes
Nov 23, 2016 (LBO) – The Export-Import Bank of Korea (Korea Eximbank) will support establishing two vocational training institutes in Sri Lanka, namely, Vocational Training Centre in Colombo Central and College of Technology in Gampaha. “As Sri Lanka aspires to become an upper middle-income country, it will need to bridge the gap between the industry […]
Sri Lanka balances investments across India, China and Japan: official
Nov 23, 2016 (LBO) – Sri Lanka is internationalizing key investments in infrastructure across three Asian nations India, China and Japan, a government official said. After failing to weigh competing interests in the past, observers say the current government is on the right track to develop Sri Lanka’s key infrastructure. Japan will develop the light […]
Asia stocks share some Wall St joy, US yields a burden
SYDNEY, Nov 23 (Reuters) – Asian stocks bounced to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street’s record run, while high U.S. bond yields kept the dollar well underpinned. Australia’s main index led the action with a rise of 0.9 percent to a one-month top, helped by […]
Former President Mahinda Rajapaksa to visit China tomorrow
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/11/visit-to-China-English.pdf” title=”visit-to-china-english”]
Sri Lanka condominium developers welcome budget 2017
Nov 22, 2016 (LBO) – Sri Lanka’s Condominium Developers Association which represents the condominium developers in the country has hailed the budget presented by the Finance Minister. The association which is an affiliated trade body of the Ceylon Chamber of Commerce said in a statement that the budget contained a number of progressive proposals to […]
Trump says will quit Pacific trade deal on day one of presidency
Nov 22, 2016 (Reuters) – U.S. President-elect Donald Trump released a video on Monday laying out actions he will take on his first day in office on Jan. 20, including withdrawing the United States from a Trans-Pacific Partnership trade deal. Trump also said he would issue a rule cutting government regulations, direct the Labor Department […]
Sri Lankan rupee weaker on importer dollar demand; stocks down
Nov 22, 2016 (Reuters) – The Sri Lankan rupee was trading weaker on Tuesday due to dollar demand from importers on fears that the U.S. President-elect Donald Trump’s policies would spark higher rates and strengthen the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
PTL Watch: T-bond yields mixed, 2-year ticks higher
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/11/PTL-Daily-Market-Report-22nd-November-2016.pdf” title=”ptl-daily-market-report-22nd-november-2016″]
Japanese partnership extends beyond trade & tourism: President SLJBCC
“Japan is one of Sri Lanka’s closest friends with a relationship that has prevailed for centuries and has stood the test of time amidst changing international and domestic political circumstances. In recent years Sri Lanka’s economic partnership with Japan has developed extending beyond trade and tourism. What needs to be done now is to take […]
Virtusa announces USD210 mln Q2 revenue, up 46.9 pct
Nov 22, 2016 (LBO) – Virtusa Corporation, a global business consulting and IT outsourcing company, with Sri Lankan founders, reported revenue for the second quarter of 210.1 million dollars, up 46.9 percent year-over-year. Net income for the second quarter was 3.2 million dollars, compared to a net loss of 6.3 million dollars for the first […]