Sri Lanka’s deepening economic ties with China offer it a cushion from any measures aimed at pressuring the South Asian country into cooperating with investigations into alleged crimes during its civil war.
Crown Resorts Ltd., the gaming company controlled by billionaire James Packer, slumped after first-half profit missed analyst estimates as a 26 percent decline in bets from high-rolling gamblers weighed on earnings.
Nestle SA, which agreed to sell part of its stake in cosmetics maker L’Oreal SA, has underperformed most of its global units, with shares traded in Switzerland trailing those from India to Israel and Pakistan to Nigeria.
Sri Lanka’s interest rates are at an appropriate level and the central bank probably will keep borrowing costs steady for the next three to six months if current conditions persist, Governor Ajith Nivard Cabraal said.
Louise Fernandez has visited Sri Lanka about five times in the past decade, drawn by its white sandy beaches, tea plantations and historic temples. The South Asian island is about to give her more reasons to return.