Tag: lbo.lk
Dollar firms after upbeat U.S. data raises rate hike expectations
TOKYO, Nov 24 (Reuters) – The dollar firmed in Asian trading on Thursday after news of a pickup in U.S. economic growth early in the fourth quarter increased the chances of the Federal Reserve tightening monetary policy. The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 percent to […]
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, […]
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 […]
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 […]
Asian stocks ride Wall St rally, oil extends gains
HONG KONG, Nov 22 (Reuters) – Asian stocks rose on Tuesday in the wake of solid gains in U.S. markets overnight, while the Japanese yen briefly strengthened after a powerful earthquake rocked northern Japan. Oil extended gains in Asian trading with U.S. West Texas Intermediate (WTI) up 0.73 percent in early deals as the dollar […]
Asian shares on the defensive as U.S. yields, dollar rise
TOKYO, Nov 21 (Reuters) – Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump’s election to president could accelerate fund outflows from emerging markets. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, staying near […]
Sri Lankan real estate sector sees office demand spike: OBG
Nov 18, 2016 (LBO) – The office segment of Sri Lanka’s property market is likely to see rising levels of activity over the next few years, as developers scramble to bridge a shortage of premium space, the Oxford Business Group said. There is an expanding gap between available space and demand in Colombo, according to […]
Dollar soars on U.S. yield gains,Asian shares wobbly
TOKYO, Nov 18 (Reuters) – The dollar vaulted to 13 1/2-year highs against a basket of major currencies as U.S. bond yields rose, leaving Asian stocks vulnerable to potential rotation out of emerging markets to the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 percent in early trade to hover […]
JICA to lend Yen23Bn for water supply project
Nov 17, 2016 (LBO) – The Japan International Cooperation Agency (JICA) signed a loan agreement with the Government to provide a Japanese loan of 23 billion Yen as assistance for the Anuradhapura North Water Supply Project. This project will construct a water supply system in the northern part of Anuradhapura District to provide safe drinking […]
SLT to power Lanka Government Network, LGN 2.0
Nov 17, 2016 (LBO) – Sri Lanka Telecom has been chosen as the total communication service provider and communication infrastructure provider to the Lanka Government Network, in a collaborative move by the national government and the Information and Communication Technology Agency of Sri Lanka (ICTA), a statement said. The LGN is a strategic project produced […]
Dollar edges away from 13-year peak, Asian stocks slip
TOKYO, Nov 17 (Reuters) – The dollar edged away from a 13-year peak on Thursday, following an easing of the week-long surge in Treasury yields that was fuelled by hopes for the Trump administration’s economic policies, and Asian stocks slipped on Wall Street’s overnight dip. The dollar index, which measures the greenback’s strength against […]
Sri Lanka planters warn on land redistribution budget proposals
Nov 16, 2016 (LBO) – The Planters’ Association of Ceylon (PA) said it has serious reservations as to the feasibility and potential impact of recent budget proposals on Sri Lanka’s plantation industry, a statement said. Sri Lanka’s budget 2017 proposed for a reduction in the maximum acreage that can be held by any stand-alone plantation […]