Sri Lankan shares end at 17-month high; rupee slips

Sri Lankan shares closed at a
17-month high on Friday, helped by positive sentiment
surrounding tax cuts by the country’s new government, while the
rupee ended a tad weaker.
** The government said on Wednesday it had decided to reduce
value-added tax to 8% from 15% from Dec. 1, and abolish some
other taxes as well, in its attempt to boost economic growth
that has fallen to a near two-decade low.
** Sri Lanka’s central bank left its key interest rates
unchanged on Frid