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G-20 nations promise to avoid competitive devaluations
Sept 06, 2010 (LBO) – Finance ministers and central bankers from the Group of 20 nations have promised to avoid competitive devaluations after a two-day meeting in Turkey.“We will refrain from competitive devaluations, and resist all forms of protectionism,” G20 finance minsters and central bank governors said.During the meeting an official of the People’s Bank […]
Foreign holding of Sri Lanka govt securities falls during week
Sept 05, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors reduced to 350 billion rupees in the week to September 02, from 375 billion rupees in the previous week, information from the central bank showed.Foreign investors held 457 billion rupees worth of government securities at the beginning of the year. […]
‘t allow artificial devaluation, high interest rates
Sep 04, 2015 (LBO) – Sri Lanka’s newly appointed Finance Minister Ravi Karunanayake says an artificial devaluation of the rupee will not be allowed, and he will push for low interest rates in the future.“There are realistic situations in the world we have got to face today, but that does not mean that we will […]
Sri Lanka’s new cabinet ministers sworn in
Sep 04, 2015 (LBO) – Sri Lanka’s new unity government’s swearing in ceremony concluded at Presidential Secretariat a short while ago. Cabinet Ministers sworn-in today (42): 1. Minister of National Policy and Economic Affairs – Ranil Wickremesinghe 2. Minister of Tourism Promotion and Christian Affairs – John Amaratunga 3. Minister of Transport – Nimal Siripala de Silva 4. Minister of sustainable development […]
Sri Lanka stocks close down 0.4-pct: Low investor activity
Sep 04, 2015 (LBO) – Sri Lankan stocks closed down 0.42 percent on Friday with low investor activity and most of the banking sector stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed down 30.39 points at 7,215.11, lower 0.42 percent. S&P SL20 closed 22.63 points lower at 3,956.21 down 0.57 […]
Committee to appoint heads for all govt institutions: President
Sep 04, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena said that all government institutional heads will be appointed through a common committee. ‘We will have a common committee that will include the Prime Minister and me to make all the appointments in government institutions,” President Sirisena said. “There will be criteria for these appointments […]
Sri Lanka PM says unity government is a new system for country
Sep 04, 2015 (LBO) – Sri Lanka’s Prime Minister and Minister of National Policy and Economic Affairs Ranil Wickremesinghe said that the unity government with the ministers appointed today plans to try out a new system for the country.“We are here to work for at least for a period of two years forgetting all the […]
Sri Lanka HNB Senior and Subordinated Debt gets AA-, A+ ratings :Fitch
Sep 04, 2015 (LBO) – Fitch Ratings has assigned Hatton National Bank proposed senior unsecured and subordinated debentures a expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) respectively. Full Statement follows: Fitch Ratings has assigned Hatton National Bank PLC’s (HNB; AA-(lka)/Stable) proposed senior unsecured and subordinated debentures expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) […]
Sri Lanka Aug tourist arrivals up 18.7 pct, China and India drive growth
Sep 04, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 18.7 percent to 166,610 in August 2015 from a year earlier, driven by China and India, data from the state tourism promotion office showed. In the eight months of 2015 arrivals were up 17.1 percent to 1,172,465. Indian arrivals increased 27.9 percent to 151,427 while […]
Sri Lanka’s Bank of Ceylon to sell Rs8 bn debt, AA rating
Sep 04, 2015 (LBO) – Sri Lanka’s Bank of Ceylon, state run bank is to sell up to 8.0 billion rupees of 5 and 8-year subordinated debt which have given final National Long-Term Rating of ‘AA(lka)’, Fitch Ratings said. The full statement given below :- Fitch Ratings has today assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) […]
Update 2-Sri Lanka Central Bank may intervene less in forex: source
Sept 04, 2015 (LBO) – The Sri Lankan central bank may intervene less in the forex market by not quoting a specific level, a market source told Lanka Business Online, as the rupee opened lower against the dollar on Friday.Early on Friday, USD/LKR saw a transaction done at 136.75, after wide quotes and no trades. […]
Sri Lanka, Australia bilateral trade up 18-pct in 2014
Sep 04, 2015 (LBO) – Two-way trade in goods between Australia and Sri Lanka has recorded an 18 percent increase last year over the previous year, Australian High Commissioner in Sri Lanka said.Speaking at a recent event High Commissioner Robyn Mudie said the bilateral trade in goods has reached 420 million Australian Dollars in 2014.“Our […]