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Sri Lankan rupee steady; importer dollar demand offsets exporter selling
COLOMBO, Aug 24 (Reuters) – The Sri Lankan rupee was steady for an eighth session on Wednesday as exporter dollar sales were offset by importer demand for the greenback, with dealers hesitating to trade the local currency below 145.50 per dollar in anticipation of central bank intervention to defend the rupee, dealers said. The spot […]
Sri Lanka aims to build tourism momentum: OBG
Aug 24, 2016 (LBO) – Data from July indicates Sri Lanka’s tourist arrivals showing new momentum, with arrivals expanding by 19.1 percent y-o-y, the Oxford Business Group said in an economic note. Sri Lanka saw a sharp rise in tourism arrivals in the first half of the year, with inbound traffic up 16.7 percent year-on-year […]
Sri Lanka bottled water to have higher SLS standards
Aug 24, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority (CAA) will be enforcing plastic mineral water bottling standards starting September 1 following the authority detecting several brands using low quality bottles. “Low quality bottles affect the quality of water in bottles,” said Rishad Bathiudeen, minister of Industry and Commerce during a consumer review conducted […]
Markets recover post Brexit, but political uncertainty remains
Aug 24, 2016 (LBO) – U.K. retail sales data have posted a positive outcome post-Brexit supporting markets even though some political uncertainty remains. From the FTSE’s low of 5,806 points immediately after the Brexit vote, the index has rallied some 18.38 percent. Other European indexes and the STOXX 600 have also recovered, with the STOXX […]
U.S. Pacific Command completes assistance operation in north
Aug 24, 2016 (LBO) – A multinational team led by U.S. Pacific Command has concluded a week-long assistance program in Jaffna, providing general medical care for 4,000 people and renovating six schools that serve 1,100 students, the U.S. Embassy said. Operation Pacific Angel is a joint civil-military operation led by U.S. Pacific Air Forces to […]
Asia stocks cement gains after recent rally, oil slips
HONG KONG, Aug 24 (Reuters) – Asian stocks consolidated recent gains on Wednesday, helped by Wall Street’s rise overnight, even as oil prices slid after a surprise build in U.S. crude stocks. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3 percent in early trade. It has risen more than 14 percent since late […]
Chinese bank to set up South Asian branch in Sri Lanka: PM
Aug 23, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe told Parliament today that a Chinese bank has agreed to set up their South Asian branch here in Sri Lanka. “China agreed to set up the branch here in Colombo at the proposed financial city,” Wickremesinghe said. Prime Minister said the concept paper and […]
Anti corruption movement urges President to reveal secrets
Aug 23, 2016 (LBO) – A Sri Lankan anti corruption movement, Voice Against Corruption, today urged the President to reveal the hidden secrets of the former President and his allies as per the mandate of the people. In a letter to President Maithripala Sirisena, Convener of the movement Wasantha Samarasinghe said it is the aspiration […]
PTL Watch: Yields drop, foreign buying in 8,10-year bonds
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-23rd-August-2016.pdf” title=”PTL Daily Market Report 23rd August 2016″]
Sri Lankan rupee trades steady; dollar selling by foreign investors eases pressure
Aug 23, 2016 (Reuters) –The Sri Lankan rupee held steady for a seventh straight session on Tuesday, with dealers hesitating to trade in the local currency below 145.50 per dollar anticipating central bank intervention to defend the currency, dealers said. Foreign investors were seen selling the U.S. currency, which helped ease pressure on the rupee […]
GAAM: Market rallied 1.2 pct last week, Rs50 mln foreign inflow
The Guardian Acuity Asset Management weekly can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/Weekly-Report-GAAM-20-08-16.pdf” title=”Weekly Report GAAM 20 08 16″]
DCSL to suspend share transactions from Oct until public float restores
Aug 23, 2016 (LBO) – Sri Lanka’s Distilleries Company in a stock exchange filing says the trading in shares will be suspended starting from October until the public float in DCSL is restored. Directors of DCSL recently decided to make Melstacorp limited the ultimate holding company of the group and to obtain a listing from […]