Author: lbostgadmin
Vehicle registrations edge higher in November: JB Securities
Dec 26, 2016 (LBO) – Sri Lanka vehicle registrations edged higher in November compared with October, on most categories, likely driven by pre-budget demand, JB Securities said in a research note. Three-wheelers and hybrids showed higher registrations, while one Rolls Royce Wraith was registered in the luxury car segment. But vehicle registrations were down sharply […]
Brac Lanka Finance to raise capital with Rs1.32bn rights issue
Dec 23, 2016 (LBO) – Sri Lanka’s finance firm, Brac Lanka Finance is to raise 1.32 billion rupees by way of a rights issue, the company said in a stock exchange filing. Following Central Bank approval, the Directors of Brac Lanka resolved by circular resolution dated 21 December 2016 to increase the capital by way […]
Sri Lanka to improve public transportation in 2017: Fin Min
Dec 23, 2016 (LBO) – Several steps have been taken to improve public transportation with the building of new roads, upgrading railway, deploying priority bus lanes and building light rail, Sri Lanka’s finance ministry said on Friday. Plans are underway to construct two new roads, one between New Kelani Bridge and Athurugiriya and, the second […]
Sri Lankan shares rise after eight sessions of falls in thin trade
Dec 23, 2016 (Reuters) – Sri Lankan shares edged up on Friday, snapping eight straight sessions of falls and moving away from a more than eight-month closing low hit in the previous session, while turnover was low in holiday-thinned trade as investors stayed away from markets ahead of the Christmas weekend. The Colombo stock index […]
Sri Lankan rupee ends firmer on dollar selling by state bank
Dec 23, 2016 (Reuters) – The Sri Lankan rupee closed higher on Friday as dollar selling by a state-run bank helped the local currency gain in lacklustre trading ahead of a long weekend, amid little demand from importers for the U.S. currency, dealers said. Rupee forwards were active, with one-week forwards closing at 149.75/90 per […]
Asia stocks pressured by Wall Street, dollar holds below 14-yr peak
SINGAPORE, Dec 23 (Reuters) – Asian stocks stepped back in subdued trade on Friday as Wall Street took a breather from its relentless rise since the U.S. election, while the dollar hovered below the 14-year high set earlier this week. MSCI’s broadest index of Asia-Pacific shares outside Japan , which touched a five-month low […]
Market Watch: Central Bank tightens stance, sovereign yield rises
Dec 22, 2016 (LBO) – Sri Lanka’s Central Bank effectively tightened its monetary stance on Thursday by conducting a repo auction at 7.47 percent, above the Standing Deposit Facility Rate (SDFR) of 7 percent. The repo auction for around seven billion rupees absorbed excess liquidity in the market, which may signal an upward tick in […]
Sri Lanka tea sees good demand in November
Dec 22, 2016 (LBO) – Tea production for the month of November totaled 27.3M/kgs, a gain of 2M/kgs against 25.29M/kgs of November 2015, Forbes & Walker Tea Brokers said in a report. “There was good demand all around,” the report said. ‘Ex-Estate offerings totalled a 0.9M/kgs vis-à-vis 0.7M/kgs the previous week. Overall quality of Western’s […]
Sri Lankan rupee falls on importer dollar demand
Dec 22, 2016 (Reuters) – The Sri Lankan rupee fell on Thursday as importer demand for the greenback outpaced inflows from remittances and dollar conversions by exporters, dealers said. Also, weighing on sentiment were dollar purchases by state-controlled banks, they added. The rupee forwards were active, with one-week forwards trading at 150.95/151.00 per dollar, compared […]
‘s 10MW solar power plant commissioned, lead financing by DFCC
Dec 22, 2016 (LBO) – Sri Lanka’s first 10MW grid connected solar power project implemented by the private sector was commissioned on Wednesday, with DFCC Bank acting as lead financiers to the project. Promoted by Sagasolar Power (Pvt) Ltd, the utility-scale power project located in Buruthankanda, Hambantota is expected to add 19GWh of clean energy […]
Finance Min releases Rs7 bn to farmers for Maha season
Dec 21, 2016 (LBO) – The Finance Ministry will release 7 billion rupees to paddy farmers as a fertilizer subsidy during the Maha cultivation season, the ministry said in a statement. “The Finance Ministry has released 5.5 billion rupees to the Agriculture Ministry to be distributed among the farmers to purchase fertilizer for the Maha […]
JVP leader Anura Kumara tops most active MP rankings: Manthri.lk
Dec 21, 2016 (LBO) – Sri Lanka’s Marxist JVP leader Anura Kumara Dissanayake has topped the most active Parliamentarians ranking of the year, a list compiled by manthri.lk website showed. The website launched in 2013 by Verité Research tracks and ranks parliament representatives in order of their performance. As per the data analyzed using the […]