Author: lbostgadmin
Constitutional Crisis – Foreign exodus from CSE continues with Rs3bn sold today
November 5, 2018 (LBO) – Foreigners continued to exit the Colombo Stock Exchange (CSE) with net foreign selling of over Rs3bn on the day. With the accelerating exit by foreigners out of Colombo’s stock and bond markets, Sri Lanka’s constitutional crisis could very well turn into a financial crisis. Analysts say that the crisis (unless […]
Heavy trading in John Keells (JKH) with over 1.5% of company changing hands
November 5, 2018 (LBO) – Sri Lanka’s constitutional crisis has lit a fire under the counrty’s stock market sending trading volumes soaring. Trading at the Colombo Stock Exchange passed the Rs4bn (US$23mn) mark with the trading day nearing a close. Trading volume is being driven by transactions in market bellwether John Keells Holdings (JKH). Over […]
Mangala says Singapore Platts price of refined petrol down 12-pct since Oct 10
Nov 05, 2018 (LBO) – Mangala Samaraweera says that the Rajapaksa administration is attempting to revert to the opaque, politicized regime of fuel pricing that resulted in the CPC being landed with a huge debt which is eventually borne by taxpayers. Samaraweera said that there has been a 12 percent reduction in the Singapore Platts […]
Speaker recognises Ranil Wickremesinghe-led Government as legitimate
Nov 05, 2018 (LBO) – Speaker Karu Jayasuriya says that until the parliament is reconvened he has no option but to recognize the composition of the last parliament as legitimate. Slamming the President for his recent conduct, Speaker further says that he recognizes the previous government as the legitimate government unless proven otherwise by a Parliamentary […]
Parliament to reconvene on the 14th of November
Nov 05, 2018 (LBO) – President Maithripala Sirisena has decided to reconvene the Parliament on November 14. The Gazette notification on reconvening the Parliament has been issued a short while ago. The President by virtue of the powers vested in him by Article 70 of the Constitution prorogued Parliament with effect from 27 October 2018 […]
Harsha tweets on crossover bribery allegations (VIDEO)
November 4, 2018 (LBO) –
Constitutional Crisis – close to $ 100mn flees stock/bond markets last week
November 4, 2018 (LBO) – In the first full week of Sri Lanka’s constitutional crisis, foreign investors in Sri Lanka’s capital markets ran for the exits with nearly US0mn leaving the stock/bond markets during the past week.For the year 2018, the total net foreign outflow from Sri Lanka’s stock and bond markets totals Rs117bn.This is […]
‘s President to allow Parliament vote ASAP
November 3, 2018 (LBO) –
Nations Trust Bank records post-tax profit of Rs.2, 918Mn
Nov 02, 2018 (LBO) – The Bank closed the nine months ending 30th September 2018 with a post-tax profit of Rs.2, 918Mn with standing multiple challenges as witnessed across the industry with increasing non-performing loans, tightening of liquidity and moderating credit growth which particularly hindered the performance for the quarter. The Bank realigned its resources in […]
Foreign Minister Amunugama says “no justification for changing Travel Advisories”
Nov 02, 2018 (LBO) – Foreign Minister Dr. Sarath Amunugama, said that there was no justification for the Travel Advisories issued by a few countries since there have been no incidents of violence or disruption in the country following the recent events. The Minister made these observations when he met with the leading inbound tour operators, […]
Parliament to be reconvened on Wednesday not Monday
Nov 02, 2018 (LBO) – Sri Lanka’s Parliament will be reconvened on Wednesday the 7th of November and not Monday as earlier scheduled, the speaker has been informed by the President. A Gazzette to this effect will be issued soon. The President by virtue of the powers vested in him by Article 70 of the […]
Sri Lanka moves up 11 notches in Ease of Doing Business Index 2019
Nov 02, 2018 (LBO) – Sri Lanka rose 11 notches in the Ease of Doing Business index 2019 being ranked 100 among 190 economies, the World Bank said. Sri Lanka has carried out four reforms which included making dealing with construction permits easier, while the introduction of online systems made it easier to pay taxes. […]