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Head east for long-haul value Britons in search of winter sun will find their money stretching farthest in Sri Lanka and south-east Asia, new research has shown. Sri Lanka is the most cost-effective long-haul destination for Britons, according to the Post Office Photo: ALAMY The Post Office’s annual “Long Haul Report”, which compares the cost of restaurant meals, drinks ...
Treasury expectsinflation to fall below 9% after September Annual inflation eased due to drop in food prices: CB Reuters: Sri Lanka’s inflation rate in September eased to 9.1% from a year earlier, moderating further from July’s near-record high as food prices fell. Analysts polled by Reuters had expected annual inflation to ease to 9.2% from ...
The Sri Lankan rupee strengthened yesterday as banks sold dollars on stock related inflows, dealers said.
The Sri Lankan rupee strengthened on Thursday as banks sold dollars on stock relatedinflows, dealers said. The rupee closed 1.1 percent firmer at 129.40/70 to thedollar compared with Wednesday's close ...
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison to record 8.3% growth achieved ...
The Sri Lankan rupee (SLR) will stabilize at Rs.130-132 against the US dollar by the end of 2012, depreciating 16 percent year-on-year (YoY) and is likely to depreciate from 2 to 3 percent in 2013, a recent report by a local stockbrokerage said.
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
Foreigners most bullish with net buying up 20% or Rs. 5 b; Market’s value up by Rs. 48 b between 20 July and 24 Aug. Despite original reservations by some that President Mahinda Rajapaksa shouldn’t have met with capital market stakeholders, the Colombo stock market has proved otherwise, with the most bullish being foreign investors. ...
People’s Leasing Company (PLC) saw its revenues rise nearly 27% in the June quarter, led by growth in its core leasing business, the group said. In results released to the Colombo Stock Exchange, the country’s biggest leasing company said group revenue rose to Rs. 4,367 million during the first quarter of June 2012, from Rs. ...
Lankan Rupee continued to have a significant adverse ...
Carson Cumberbatch Plc has explained the reasons for the major variance in its FY13 first quarter results ahead of their release. As per an extract of Group income statement drawn from unaudited accounts based on existing SLAS environment, profit after tax for 1Q had slumped to Rs. 27.3 million, from Rs. 5.7 billion a year ...
By Amantha Perera IPS: For many Sri Lankans, the effects of climate change can be summed up in one word: rainfall. “The biggest impact (of climate change) is rainfall or the lack of it,” W.L. Sumathipala, one of Sri Lanka’s foremost experts in changing climate patterns, told IPS on a scorching hot and humid day ...
The Sri Lankan rupee is likely to strengthen toward the end of the year as import volumes cool after months of depreciation, Sri Lanka’s central bank governor said.
The Sri Lankan rupee is likely to strengthen toward the end of the year as import volumes cool after months of depreciation, Sri Lankas central bank governor told Dow Jones Newswires.
Standard Chartered Bank has revised Sri Lanka’s credit outlook to stable from positive and is advising bond investors to await the conclusion of Sri Lanka’s $ 1 billion Sovereign issue prior to getting involved in the country’s debt market opportunities. This advise is contained in SCB’s latest Asian sovereign credit coverage. “While we believe that ...
Laugfs Gas PLC and its subsidiaries having recorded a profit after Tax of Rs. 942 million as per the un-audited financial statements for the year ended 31 March 2012, yesterday announced a payment of first and final dividend of Rs. 1.50 per share for both Ordinary Voting and Non- Voting shares held. Chairman Laugfs Gas ...
By Cassandra Mascarenhas The third and final day of the Sri Lanka Economic Summit 2012 organised by the Ceylon Chamber of Commerce commenced with a plenary session titled ‘Skills and Productivity to Compete in the Global Market,’ which discussed the initiatives that are underway and aimed to identify additional steps required to improve the quality ...
Reuters: Sri Lanka’s current monetary policy rates are appropriate despite a spike in inflation last month due to supply constraints, the Central Bank said on Tuesday, a day ahead of its July monetary policy review announcement. The Central Bank has kept both repurchase and reverse repurchase rate at two-year highs of 7.75 percent and 9.75 ...
By Cheranka Mendis The tea industry’s export target of achieving revenue of US$ 5 billion from the present US$ 1.5 billion by 2020 is an overly ambitious one that is likely to be impossible to achieve, Colombo Tea Traders Association Chairman Jayantha Keragala said on Friday at the association’s 118th AGM. Keragala stated that the ...
The Sri Lankan rupee edged down on Monday in thin trade on importer dollar demand, dealers said. The rupee closed at 133.80/90 to the dollar, slightly weaker than Friday’s close of 133.50/70. It hit another in a series of fresh record lows on Thursday, at 134.30. “Still we see pressure
Reuters: The Sri Lankan rupee edged higher on Friday a day after it hit a record low, as exporters and a state bank sold dollars to buy the local currency in thin trade, dealers said. The rupee closed at 133.50/70 to the dollar, a tad firmer from Thursday’s close of 133.80/90. It hit a fresh ...
The Sri Lankan rupee hit a fresh record low of 134.00 to the dollar on Wednesday on importer demand for the U.S. currency, sparked by worries the local unit will weaken further after banks started quoting spot prices again for the local unit.
The Sri Lankan rupee hit a fresh record low of 134.00 to the dollar on Wednesday on importer demand for the U.S. currency, sparked by worries the local unit will weaken further after banks started quoting spot prices again for the local unit.
The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against the U.S. dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level.
Reuters: The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against the US dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level. “The whole market is distorted as central bank does not like to see ...
The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against U.S. dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level.
The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against U.S. dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level. .
Reuters: The Sri Lankan rupee traded at a near record low on Monday in thin trade and many banks stopped quoting spot prices. The rupee traded at 132.90 to the dollar, with a state bank selling dollars at that level, traders said. The rupee hit a record low of 133.60 on June 12. Five dealers ...
Sri Lankan Rupee is expected to firm up later this year, while treasury yields could creep up on fiscal slippages, a report said, as the central bank looks for ways to tighten monetary policy.
Jun 25, Colombo: The Sri Lankan rupee is expected to appreciate to Rs 128 against the dollar in the latter half of the year despite some short-term problems, according to a recent report.