Category: Economy and Markets
PTL Watch: Bond yields flat, further repo auctions
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/01/PTL-Daily-Market-Report-17th-January-2017.pdf” title=”PTL Daily Market Report 17th January 2017″]
‘ dollar sales
Jan 17, 2017 (Reuters) – The Sri Lankan rupee traded marginally higher on Tuesday in light volume as foreign banks sold dollars, but the market expects the currency to weaken after the central bank allowed flexibility in the exchange rate, dealers said. The rupee has been under pressure due to rising imports and net selling […]
‘s speech on Brexit stance
TOKYO, Jan 17 (Reuters) – Asian stocks and the pound sagged on Tuesday as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union, which traders fear will see Britain lose access to the bloc’s single market. Britain will not seek a Brexit deal that leaves it […]
Coca-Cola eyes Sri Lanka for production facility: Fin Min
Jan 17, 2017 (LBO) – International beverage company Coca-Cola has expressed their interest in setting up a production hub in Sri Lanka, the Finance Ministry said in a statement. President of Coca-Cola Asia Pacific John Murphy and Executive Vice President Irial Finan met Finance Minister Ravi Karunanayake and discussed the opportunity of producing some of the Coca-Cola […]
Sri Lankan shares end lower on rising rates
Jan 16, 2017 (Reuters) – Sri Lankan stocks closed lower on Monday as investors sold financials after rising yields in short-term government securities hit sentiment, brokers said. The Colombo stock index ended 0.26 percent weaker at 6,201.65, slipping from its highest close since Dec. 30 hit on Friday. Shares gained on Friday after the European […]
‘s JKH files patent on energy storage nanomaterial
Jan 16, 2017 (LBO) – Sri Lanka’s John Keells Holdings plc filed its first patent jointly with the Council for Scientific and Industrial Research (CSIR) India, in the area of energy storage materials, the company said in a statement. The patent application filed at an Indian patent office in December 2016 is related to a […]
Sri Lankan rupee edges up on dollar sales; stx down
Jan 16, 2017 (Reuters) – The Sri Lankan rupee edged higher on Monday as foreign banks sold dollars, but the market expects the currency to weaken after the central bank allowed flexibility in exchange rate, dealers said. The rupee has been under pressure due to rising imports and net selling of government securities by foreign […]
Central Bank Governor to deliver CA Sri Lanka 21st Annual Tax Oration
Governor of the Central Bank of Sri Lanka Dr. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for USD plus a margin through competitive bidding, or at a fixed rate to be determined through competitive bidding. generic Minimum investment is 10,000 US dollars with additional investments in […]
Trade deficit narrows in Sept, cumulative exports down 3pct
Jan 13, 2017 (LBO) – Sri Lanka’s trade deficit narrowed in September 2016 with an increase in export earnings for the second consecutive month, together with a reduction in import expenditure. Earnings from exports grew by 5.7 per cent to 898 million dollars in September, compared with 850 million dollars in the same month in […]
Asian shares wobble, dollar on track for losing week
TOKYO, Jan 13 (Reuters) – Asian shares dipped on Friday but remained on track for weekly gains while the dollar was poised for a losing week, as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office. On Wall Street, major indexes finished lower a day after Trump failed to […]
CB joins Dept for Registration of Persons against money laundering
Jan 13, 2016 (LBO) – The Financial Intelligence Unit, located at the Central Bank of Sri Lanka, has entered into a memorandum of understanding with the Department for Registration of Persons to receive information in order to facilitate investigations on money laundering and terrorist financing. “Money laundering and terrorist financing are internationally connected financial crimes […]
‘s GSP+
Jan 11, 2017 (LBO) – The European Commission said it proposed to the European Union to remove significant import duties on Sri Lankan products, to restore GSP Plus trade access to Europe’s export market. “The Commission today proposed that a significant part of the remaining import duties on Sri Lankan products should be removed by the […]