Category: Economy and Markets
PTL Watch: Bond yields up for the week, foreign outflow
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Sri Lanka JKH profits up 32-pct supported by port and shipping sector
Jan 27, 2017 (LBO) – Sri Lanka’s John Keells Holdings net profits were up 32 percent to 5.15 billion rupees in the December 2016 quarter from a year earlier, the company said in a statement. “The profit attributable to shareholders for the third quarter was 5.15 billion rupees, up by 32 percent from a year […]
Sri Lanka’s foreign debt repayment to go up to USD3.9Bn in 2019
Jan 26, 2017 (LBO) – Sri Lanka’s debt servicing will double in 2019 to 3,992 million dollars, the highest debt repayment to be paid by the island in a year, when compared to last year due to the borrowings of the previous government, the Finance Ministry said. “The total debt stock of Sri Lanka has […]
Teejay ends Q3 with revenue growth of 33-pct despite challenges
Press Release: The Teejay Group which recently consolidated its operations in Sri Lanka and the region under the single brand ‘Teejay,’ announced a strong revenue growth of 33 percent over the nine months ended 31st December 2016. The Group recorded a revenue of 16.4 Billion compared to the Rs. 12.3 Billion during the corresponding period […]
PTL Watch: Yields tick higher on foreign selling
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Sri Lankan rupee steady in dull trade; stocks rise
Jan 26, 2017 (Reuters) – The Sri Lankan rupee was steady in thin trade on Thursday as dollar demand from importers was offset by selling of the U. S. currency by exporters, dealers said, a day after the central bank revised the spot reference rate by 10 cents to a record low. Rupee forwards were […]
Asia rises after Dow tops 20,000 for first time, dollar on defensive
TOKYO, Jan 26 (Reuters) – Asian stocks gained early on Thursday, cheered by the Dow Jones Industrial Average breaching past the 20,000-level threshold for the first time though concerns about U.S. President Donald Trump’s protectionist stance kept the dollar on the defensive. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.3 percent. […]
PTL Watch: Yields tick higher, more foreign selling
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‘s Auditor General acted unprofessionally: Finance Minister
Jan 25, 2017 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake today accused the Auditor General of releasing a confidential report to COPE without his knowledge. On the 19th August 2016, the Finance Minister had requested a special report from the Auditor General under section 43 (2) of the Monetary Law Act, within a period […]
Sri Lanka Central Bank blocks taking out of Perpetual profits: Harsha
Jan 25, 2017 (LBO) – Sri Lanka’s Central Bank has blocked Perpetual Treasuries from taking out the company profits for any purpose, Deputy Foreign Minister Harsha de Silva said on Tuesday. Speaking at the bond debate in Parliament, de Silva pointed out that the Central Bank Governor and the Monetary Board has acted in a […]
Sri Lankan shares hit near 10-mth closing low
Jan 24, 2017 (Reuters) – Sri Lankan stocks closed at their lowest in nearly 10 months on Tuesday, dragged down by banking and telecom shares, as concerns over rising interest rates and ongoing political instability weighed on sentiment. The Colombo stock index ended 0.45 percent lower at 6,134.41, its lowest close since April 4. “Not […]
Watch the West, Reach Out To The East: Stan Chart Economist
Jan 24, 2017 (LBO) – Sri Lanka should keep a keen eye on the developments in the West, the traditional export markets, but should reach out to the East for trade and investments, an economist said. Chief Economist of Standard Chartered Bank for Asia, David Mann was responding to LBO’s question on what should be Sri […]