Category: Economy and Markets
Sri Lanka cabinet approves capital market strategy 2016-2020
Oct 27, 2016 (LBO) – Sri Lanka’s cabinet has given the nod for the government to follow a five-year capital market strategy in order to attract investors, issuers, institutions and mediators, a statement said. “Although the capital market plays a major role in economic development and sustainable development in rising economies in the world Sri […]
”’ rank down one notch to 110: World Bank
Oct 27, 2016 (LBO) – The World Bank says Sri Lanka has dropped one place in the “Doing Business ” rank to 110, over the past year, but the island has made progress in two reform areas: starting a business and protecting minority investors. “The improvements, while important, were not enough to stop a decline […]
GAAM: Net foreign inflow of Rs518 mln for week
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/10/Weekly-Report-GAAM-22-10-16.pdf” title=”weekly-report-gaam-22-10-16″]
Sri Lanka to obtain USD75mn credit in SDR from World Bank
Oct 27, 2016 (LBO) – Sri Lanka is to obtain 75 million US dollars as credit of Special Drawing Rights (SDR) from the International Development Association of the World Bank for the Social Safety Nets project. The project which will be implemented from 2017 – 2022 has been designed to improve the equity, efficiency and […]
Sri Lankan rupee steady in lean trade; stocks weak
COLOMBO, Oct 26 (Reuters) – The Sri Lankan rupee traded steady on Wednesday in a dull market as investors were reluctant to take positions, a day after a state bank sold dollars, capping the fall in the domestic currency amid seasonal importer greenback demand, dealers said. Dealers said moral suasion by the central bank on […]
Asia stocks slide after Wall Street losses, oil drops on glut concerns
SINGAPORE, Oct 26 (Reuters) – Asian shares tumbled in early trade on Wednesday, following in the footsteps of Wall Street, which pulled back on disappointing earnings, while the dollar inched down from a seven-month high and oil prices slid. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent. Japan’s Nikkei lost 0.2 percent, […]
Asia shares slip after Apple results weigh, dollar off highs
TOKYO, Oct 27 (Reuters) – Asian shares edged down on Thursday after disappointing earnings from technology giant Apple dragged on Wall Street, while the dollar remained shy of this week’s nearly nine-month highs. Besides Apple, results and forecasts from some other major U.S. companies also weighed on U.S. markets overnight. The S&P 500 and the […]
Sri Lanka targets budget deficit of 4.4-pct for 2017: Minister
Oct 26, 2016 (LBO) – Sri Lanka plans on reducing it’s budget deficit to 4.4 percent in 2017 and curbing its total expenditure by around 10 percent, the State Minister of Finance said. “We propose to cut the budget deficit up to 4.4 percent and curb expenditure through reducing the government expenditure and better financial […]
Sri Lanka delayed VAT debate in Parliament tomorrow
Oct 25, 2016 (LBO) – Sri Lanka’s much delayed Value Added Tax (VAT) amendment bill under the equitable taxation principle will be debated in parliament, Wednesday, the Finance Ministry said in a statement. “The newly proposed VAT system is very simple and transparent,” Ravi Karunanayake, Minister of Finance said in the statement. VAT was introduced […]
Sri Lankan rupee weaker on importer dollar demand; stocks up
Oct 25, 2016 (Reuters) – The Sri Lankan rupee edged down on Tuesday due to importer dollar demand and a lack of exporter sales, but selling of the greenback by a state bank capped further fall in the domestic currency, dealers said. They added the moral suasion by the central bank discouraged trading in the […]
‘s FIU and Inland Revenue to share info
Oct 25, 2016 (LBO) – Sri Lanka’s Central Bank says its Financial Intelligence Unit (FIU) has entered into a memorandum of understanding with the Department of Inland Revenue to exchange information on money laundering and terrorist financing. The MoU will facilitate investigations and prosecutions in terms of the provisions of the Financial Transactions Reporting Act, […]
Asia shares track Wall St higher, US dlr firm
SYDNEY, Oct 25 (Reuters) – Asian shares edged higher on Tuesday while the dollar stood firm as upbeat U.S. earnings boosted Wall Street and factory surveys in the United States and Europe boasted their best readings so far this year. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent with most components […]