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Asia stocks at 1-year high as soft US data quells Fed hike talk
TOKYO, Sept 7 (Reuters) – The dollar took a tumble and Asian stocks rose to one-year highs on Wednesday after surprisingly weak U.S. services sector activity put paid to already slim chances of an interest rate hike by the Federal Reserve as early as this month. MSCI’s broadest index of Asia-Pacific shares outside Japan rose […]
‘s Distilleries approves Melstacorp as holding company of group
Sep 07, 2016 (LBO) – Shareholders of the Distilleries Company (DCSL) at an Extraordinary General Meeting approved the special resolution to make Melstacorp Ltd the holding company of the group yesterday. The resolution was approved with 99.9987 percent voting for and 0.0013 percent voting against. The EGM was convened on the orders of the Commercial […]
PTL Watch: Yields drop, longer tenors at 6-month lows
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/09/PTL-Daily-Market-Report-06th-September-2016.pdf” title=”PTL Daily Market Report 06th September 2016″]
Sri Lanka’s Finance Ministry denies resignation claims of treasury officials
Sept 06, 2016 (LBO) – Sri Lanka’s Finance Ministry on Tuesday denied recent media reports that there was a mass resignation and stepping down of directors from SoEs. The Finance Ministry said that all their nominees who have been appointed as Directors to the boards of the State Owned Enterprises (SoEs) are continuously serving in […]
Sri Lanka minimum wage for migrant workers to increase to USD300
Sept 06, 2016 (LBO) – Sri Lanka’s Foreign Employment Bureau is to increase the minimum wage of migrant workers to 300 US dollars per month from January 2017. Foreign Employment Minister Thalatha Athukorala told a meeting that the ministry is currently holding discussions with several countries to raise the minimum wage. “We have already signed […]
Sri Lankan rupee firmer on dollar sales by exporters, banks
COLOMBO, Sept 6 (Reuters) – The Sri Lankan rupee edged up on Tuesday as dollar sales by exporters and banks on behalf of foreign investors to buy government securities helped the currency amid a lack of demand from importers for the greenback, dealers said. The spot rupee was at 145.43/48 per dollar, slightly firmer compared […]
Mobitel to make Rs732 mln voluntary offer for E-Channelling
Sept 06, 2016 (LBO) – Mobile telecommunications company Mobitel (Private) Limited says it will make a voluntary offer to shareholders of E-Channelling PLC for a total consideration of 732 million rupees, at six rupees per share. Mobitel had entered into a share sale and purchase agreement on September 5th with Senior Marketing System Asia Pte. […]
Advantis extends port side logistics support to USS Frank Cable
Sept 06, 2016 (LBO) – Advantis Marine, the marine services arm of Hayleys Advantis Limited, said it has offered end-to-end port side logistics support to the USS Frank Cable (AS-40) submarine tender vessel during its recent refueling and port visit to Sri Lanka. Advantis provided all port agency and husbandry services to the vessel while […]
‘s Lagarde urges action to deliver on G20’s Hangzhou commitments
Sept 06, 2016 (LBO) – Christine Lagarde, Managing Director of the International Monetary Fund (IMF), called on the leadership of the Group of 20 (G20) to implement plans for economic growth through monetary, fiscal and structural adjustments, and for the wider sharing of this growth, after Summit in Hangzhou, China. “I would like to warmly […]
Asian shares edge up as investors await RBA
TOKYO, Sept 6 (Reuters) – Asian shares edged up on Tuesday but were mostly in a holding pattern after Monday’s U.S. holiday, as investors awaited a policy decision from the Reserve Bank of Australia. European stocks touched an eight-month high in choppy trading then reversed as trading wound down in the absence of U.S. markets, […]
Uber launches cash payment for rides in Sri Lanka
Sep 06, 2016 (LBO) – Uber, the smartphone app that connects riders to drivers, has launched cash payments as an option in Colombo giving users options to choose between credit or debit cards or cash when paying. “We know that cash is still the dominant payment option for people around the world, especially in emerging […]
GAAM: Rs945 mln foreign inflow into stocks last week
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/09/Weekly-Report-GAAM-20-08-16.pdf” title=”Weekly Report GAAM 20 08 16″]