All Blogs
Turning 50
Sri Lanka and the World Bank sealed half-a-century of cooperation on Friday by inking another large-scale development aid package.Sri Lanka joined the World Bank in 1950 and singed its first loan agreement with the International Development Bank on July 9, 1954. rn The loan for US $ 19.1 mn, was for the construction of the […]
Debt Raising
Senkadagala Finance plans to shortly tap the market to raise up to Rs. 500 mn in debt to feed its growing leasing portfolio. The firms Managing Director Lakshman Balasuriya says the debenture will be listed, though the tenure and price have not been finalised yet.rn rnSenkadagalas unsecured senior debt was upgraded to BBB+ (sri) rating […]
Negotiable Brokering
A proposal to reduce transaction fees for equity investments is now being debated among regulators and stockbrokers. SEC Director General Palitha Silva Gunawardene has long been an advocate for negotiable brokerage.He says high transaction costs are among the many factors that keeps investors away from playing in the market.rn rnThe Colombo Stockbrokers Association is now […]
Cash Is King
Given the recent yo-yo mood swings in the equities market, stockbrokers Asia Securities says punters should now focus on a companys cash reserves as a litmus test before investing.The market is presently highly volatile, low priced endash in absolute terms endash shares, with at times questionable earnings quality and balance sheet strength, and in view […]
Tightening Colombo
The government said Wednesday that it had beefed up security in and around Colombo after yesterdays bomb blast, but investors had lquote nothing to worry about as it was an isolated attack. ldblquote Security in and around Colombo has already been increased but investors have nothing to worry because there is no huge safety issue […]
Second Warning
Continuing its campaign against pyramid schemes, Central Bank is again warning the public that persons who buy a product, not for its own sake but expecting future returns from getting more enter the scheme, are not engaging in a simple trade transaction but a different type of game. “As the expectation of future returns is […]
Moving Up
Yields for three month treasuries move up at Wednesdays auction indicating market demand for short-term maturities.rnrn rnHowever, the Central Bank said that yields for six and twelve month paper rnremained unchanged. rn rnResults as follows:rn rn rn rn rn rn rn Bids rn Rcvd rn rn rn rn Amount Accp rn rn rn Avg. […]
Listing Rules
The securities watchdog will shortly include fresh guidelines to the ongoing listing rules to facilitate close ended unit trust. The move comes after the Securities & Exchange Commission (SEC) unveiled a new code for mutual funds which included issuing licenses for close ended unit trusts.rn rnA close-ended fund or scheme has a stipulated maturity period […]
Indian Bedfellow
John Keells Hotels will take its first steps into India, scouting for prospects in joint hotel and resort management in the neighbouring country.rnrn“We have been flirting with India and have been looking at it for the hotel sector for the past couple of years, even previously looking at beach properties in Goa,” Managing Director John […]
Colombo Rocks
The bomber was escorted to a police station opposite the US and British diplomatic missions after security guards prevented her from entering a ministry in the high-security area of Colombo, a military official said.rn “She was being questioned and about to be searched by two women police constables when the blast occurred,” the official told […]