Category: Economy and Markets
Kotagala Plantations to subdivide shares after Rs800mn rights issue
Sept 13, 2016 (LBO) – Sri Lanka’s Kotagala Plantations is to raise 800 million rupees by way of a rights issue, subjected to exchange approval, the company said in a stock exchange filing. The company is to issue and list 80 million new ordinary shares at 10 rupees each in the ratio of two new […]
‘s unemployment 4.2-pct in first quarter 2016
Sep 13, 2016 (LBO) – Sri Lanka’s unemployed is estimated as 349,686 during the first quarter 2016 and the unemployment rate was 4.2 percent, marginally down from the average 4.6 percent in 2015. According to the latest data the estimated economically active population is about 8.3 million in the first quarter, of which 63.3 percent […]
Sri Lankan exporters showcase at 13th China Asean Expo
Sep 13, 2016 (LBO) – Twenty five Sri Lankan exporters have represented the island at the 13 CAEXPO (China-ASEAN Expo) in Guangxi, China, as a special guest country. “We believe that Sri Lanka can showcase its products to China in a big way at 13th CAEXPO-more importantly it is an opening to ASEAN importers,” Rishad […]
‘s dovish comments
TOKYO, Sept 13 (Reuters) – Asian stocks rose early on Tuesday, boosted as Wall Street rallied overnight after Federal Reserve Board Governor Lael Brainard brought relief to risk asset markets by reducing prospects of a near-term interest rate hike. The dollar, on the other hand, nursed losses against its peers after Brainard reiterated her dovish […]
Sri Lanka foreign reserves up USD125mn in August: Central Bank
Sept 12, 2016 (LBO) – Sri Lanka’s official reserves rose 124.7 million US dollars to 6.6 billion dollars in August, up from 6.5 billion dollars end of July, official Central Bank data showed. Foreign currency reserves were 5.6 billion US dollars, and reserves in Gold were 0.94 billion US dollars. Central Bank has purchased 190.8 […]
PTL Watch: Yields tick higher, Rs2.1 bln foreign inflow
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Sri Lankan rupee weaker on importer demand
Sept 9, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Friday as importer dollar demand surpassed inward remittances of the U.S. currency amid a lack of exporter conversions, dealers said. The spot rupee was at 145.10/15 per dollar at 0721GMT, compared with Thursday’s close of 145.00/15. One-weekforwards were at 145.25/35, compared with the […]
Sri Lanka to adopt chip card system before end 2017: Central Bank
Sept 09, 2016 (LBO) – Sri Lanka is looking at completely adopting the more secure and efficient chip card system before the end of next year, a Central Bank official said. This will be among several other initiatives lined up for implementing in the coming years under the 2020 road map for developing a national […]
Asian shares slip after ECB disappointment, oil jumps
TOKYO, Sept 9 (Reuters) – Asian shares slipped and global bonds came under pressure on Friday after the European Central Bank left markets in the dark on what future easing steps it may take, while oil prices jumped on an unexpected drawdown in U.S. stockpile. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.4 […]
Asia shares, bonds spooked by central bank risks
SYDNEY, Sept 12 (Reuters) – Asian shares skidded on Monday with investors rattled by rising bond yields and talk the Federal Reserve might be serious about lifting U.S. interest rates as early as next week. Reports that the Bank of Japan was considering ways to steepen the Japanese yield curve, along with speculation that central […]
Maldives calls Sri Lanka to bid for housing, hospitals and power projects
Sep 08, 2016 (LBO) – The Maldivian High Commissioner in Sri Lanka Zahiya Zareer has invited Sri Lankan firms to invest in development projects in Maldives. “We are opening big projects for international bidding, such as airport development, housing, hospitals and renewable power projects’,” she said. “Even now there are big Sri Lankan Companies operating […]
Sri Lankan rupee steady; exporter dlr sales offset importer demand
Sept 8, 2016 (Reuters) – The Sri Lankan rupee traded steady on Thursday as mild dollar demand from importers was offset by exporters’ greenback sales, dealers said. The spot rupee was at 145.40/46 per dollar at 0649 GMT, compared with Wednesday’s close of 145.40/45. One-week rupee forwards were at 145.60/65, compared with the previous day’s close […]