Macroeconomic and financial conditions have been stable, despite a series of weather-related supply shocks. The authorities remain committed to the economic reforms under the program and have undertaken measures to improve government revenue and accumulate international reserves, said Mitsuhiro Furusawa, Acting Chair and Deputy Managing Director of the International Monitory Fund following the Executive Board’s…
Perceived Economic Opportunity PEO: October, 2017 This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a random sample of 400 men and women covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months. STATUS OF JOB PROSPECTS…
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Negative) proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘A(lka)(EXP)’. The notes will total LKR7.5 billion, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans…
Sri Lanka is forecast to accelerate to 5 percent in 2018, mainly reflecting strong private consumption and investment growth the World Bank (WB) says in its latest economic prediction Referring to the south Asia the WB says that Growth in the region is forecast to accelerate to 6.9 percent in 2018. Consumption is expected to…
Reuters – Sri Lankan shares fell for a fourth straight session on Friday to hit a more than one-week closing low on profit-booking in blue chip stocks. The Colombo Stock Index ended 0.35 percent weaker at 6,473.62, its lowest close since Jan. 4. Turnover stood at 968.3 million rupees ($6.29 million) on Friday, more than…
SAN FRANCISCO/LONDON (Reuters) – Facebook Inc (FB.O) on Thursday began to change the way it filters posts and videos on its centerpiece News Feed, the start of what Chief Executive Mark Zuckerberg said would be a series of changes in the design of the world’s largest social network. Zuckerberg, in a sweeping post on Facebook,…
Reuters – Sri Lankan shares ended marginally weaker on Thursday as recent gainers witnessed profit-booking, while foreign buying in the island nation’s risky assets curbed losses. The Colombo Stock Index ended 0.1 percent lower at 6,49502.96. Turnover stood at 531.9 million rupees ($3.46 million) on Thursday, less than last year’s daily average of 915.3 million…
Unveils master plan to set up new Truck Bus Radial tyre plant, double production of radials and motorcycle tyres and grow exports CEAT Kelani Holdings today announced an infusion of Rs 3 billion in new investments for the enhancement of manufacturing capacity, new product development and growth of exports, in a significant vote of confidence…
India’s securities regulator has banned the global accountancy firm PwC from auditing listed companies in the country for two years, after it failed to spot a $1.7bn fraud at the now defunct Satyam Computer Services. In a 108-page report, the Securities and Exchange Board of India said Price Waterhouse — PwC’s Indian audit unit —…
Minister of Development Strategies and International Trade, Malik Samarawickrama, opened the two-day Roundtable Investment Forum with Sovereign Wealth Funds(SWFs) in Colombo yesterday under the patronage of the Prime Minister Ranil Wickremesinghe. The Roundtable was an initiative by the Minister following his visit to the Global Investment Forum in Dubai during November 2017 and is jointly…
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