BRS Morning Shout

65, Braybrooke Place, Colombo 2, Sri Lanka

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BRS MORNING SHOUT

11th October 2016

BUSINESS

ECONOMY
The Japan International Coop-

The third edition of the three-

INTERNATIONAL

Most Asian stocks rose, led by

eration Agency (JICA) will pro-

day Batticaloa International

energy companies, as the pros-

vide a loan of 48 billion rupees

Trade Exhibition at the

pect of a deal to limit crude

to Sri Lanka to maintain finan-

Shivananda Vidyalaya Grounds

output that has generated a

cial stability and continue the

in Batticaloa concluded on

global glut kept oil above $51 a

development agenda within the

Sunday successfully. (4)

barrel. (7)

next five years. (1)

Regus Sri Lanka, the flexible

Chinas currency outflows may

The rupee fell on Monday due

workspace solutions provider,

be bigger than they look, with

to importer dollar demand

recently conducted a commu-

Goldman Sachs Group Inc

ahead of the festival season in

nity event that focused on the

warning that a rising amount of

December, dealers said, adding

Small to Medium Sized Enter-

capital is exiting the country in

the local currency would remain

prises (SMEs) in Sri Lanka. (5)

yuan rather than in dollars. (8)

under pressure due to continued dollar demand from import-

Despite buoyant confidence,

Overseas investors increased

Sri Lanka Tourism yesterday

their holdings of Chinese sov-

revised down the 2016 arrival

ereign bonds by a record in

Seventeen Malaysian compa-

target to 2.2 million from 2.5

September before the yuan

nies will be in Colombo this

million, and changed track on

entered the IMFs reserves

week to explore investment

rolling back the minimum

basket. (9)

opportunities on the sidelines of

room rate policy saying it

the World Export Development

could continue for the next

Forum (3)

two years, contrary to an ear-

ers until year-end. (2)

lier announcement it would

end in March 2017. (6)

See page no 03 for website references

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BRS Morning Shout

POLITICAL UPDATE

Candidates supporting the Joint Opposition have secured 175 votes while candidates supporting the UNP have
obtained only 9 votes in the election to select members for the Arachchikattuwa Cooperative Society in the
Puttalam district on Friday .http://www.dailymirror.lk/117208/JO-loyalists-triumph-in-Arachchikattuwa

MP Namal Rajapaksa today filed two defamatory cases in the Colombo District Court against two investigative
officers of the FCID on the manner in which it had investigated allegations of misappropriating Rs.70 million
paid to him by the Krrish Company for a rugby tournament in 2013. http://www.dailymirror.lk/117169/Namalfiles-two-defamatory-cases

FOREX MARKET (as at 10.10.2016)

Buying
(Rs)

Selling
(Rs)

Source: www.cbsl.gov.lk

COMMODITY MARKET (as at 10.10.2016)

Source: http://www.nasdaq.com/markets/commodities

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BRS Morning Shout

E-paper References
1.

http://www.lankabusinessonline.com/japan-provides-rs-48bn-for-ongoing-development-in-srilanka/

2.

http://www.ft.lk/article/572890/Rupee-ends-lower-on-seasonal-importer-dollar-demand

3.

http://www.ft.lk/article/572888/17-Malaysian-companies-on-export-acceleration-mission-toColombo

4.

http://www.ft.lk/article/572984/Batticaloa-International-Trade-Exhibition-2016-a-success

5.

http://www.ft.lk/article/572925/Regus-Sri-Lanka-initiates-productive-SME-networking-event

6.

http://www.ft.lk/article/572896/Tourism-gets-bearish-as-arrivals-slow

7.

http://www.bloomberg.com/news/articles/2016-10-10/oil-gains-burnish-asian-stock-prospectswhile-yen-nurses-decline

8.

http://www.bloomberg.com/news/articles/2016-10-10/goldman-warns-china-capital-outflowsmay-be-worse-than-they-look

9.

http://www.bloomberg.com/news/articles/2016-10-11/foreign-investors-boost-china-government
-bond-holdings-by-record

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