Author: lbostgadmin
Anilana (ALHP) investor to make mandatory offer at 18% premium
June 28, 2018 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) has approved investment into Anilana Hotels and Properties (ALHP) by Singapore based SOMAP International. The investment by way of private placement will result in an infusion of Rs667mn (US$4.2mn) into the company at Rs1.3/share. After the private placement SOMAP will own […]
Fitch affirms five small & mid-sized Sri Lankan banks; revises Amana outlook
June 28, 2018 (LBO) – Fitch Ratings Lanka has revised the outlook on Amana Bank to Positive from stable and has affirmed its National Long-Term Rating at ‘BB(lka)’. The agency has also affirmed the National Long-Term Rating of Union Bank of Colombo with a positive outlook and the National Long-Term Ratings of Nations Trust Bank, Pan […]
‘s President and the Rajapaksa dotage
June 27, 2018 (LBO) – Former President of Sri Lanka Mahinda Rajapaksa was born on November 18, 1945. A day after he turned 60 years old, on November 19, 2005, he assumed the Presidency. He had just narrowly defeated current Prime Minister Ranil Wickremesinghe, who was 56 at the time. By the time the 2020 […]
Ceylinco Insurance opens trading at CSE to mark S&P SL 20 inclusion
Ceylinco Insurance PLC (Ceylinco) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE), as part of a ceremony organized to mark the company’s inclusion in the S&P SL 20 Index. The S&P SL 20 Index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum […]
Explosive New York Times report suggests Chinese influence on Sri Lanka elections
June 26, 2018 (LBO) – The New York Times is out with an explosive report on China’s influence in Sri Lanka.The article puts forward specific details of China Harbor’s financial support to former President Mahinda Rajapaksa’s unsuccessful 2015 presidential election campaign. LBO is unable to verify the following facts in the New York Times article, […]
More pain as afternoon selloff takes Sri Lanka stocks to lowest close in 2018
June 26, 2018 (LBO) – The Colombo Stock Exchange sold off in the afternoon after being up for the first half of the session. The selloff took the market to the lowest close year to date, ahead of a poya (full moon) holiday tomorrow. The broader indices were both weak, with the ASPI closing down […]
FIU signs MOU with SEC to prevent money laundering, terrorism financing
Financial Intelligence Unit of Sri Lanka Entered into a Memorandum of Understanding with Securities and Exchange Commission of Sri Lanka In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Securities and […]
Global Accounting President’s visit hosted by CA Sri Lanka, CMA & AAT
President of the International Federation of Accountants (IFAC), the global body of the accounting profession Ms.Rachel Grimes will arrive in Sri Lanka in July on a four day visit from 4th to 7th July extended to her by the Sri Lankan IFAC member bodies which includes the countries three national professional accountancy organisations; the Institute […]
Japan gives Yen 265Mn for Sri Lanka human resources development scholarships
Jun 26, 2018 (LBO) – The Government of Japan has agreed to offer a grant assistance of 265 million Yen (approximately 374 million rupees) to provide human resources development scholarships for the Sri Lankan public sector. The Japanese Grant Aid for Human Resources Development Scholarship (JDS) Programme was introduced in Sri Lanka in 2010 by […]
IMF working paper suggests new Keynesian models for monetary policy decisions
June 26, 2018 (LBO) – An International Monetary Fund (IMF) working paper released yesterday suggested the Central Bank of Sri Lanka use new Keynesian models for monetary policy analysis and forecasting purposes. IMF working paper said small new Keynesian models, which are increasingly used in central banks for monetary policy analysis and forecasting purposes are […]
Vallibel Finance crosses Rs.1Bn mark for net profits
Jun 26, 2018 (LBO) – Vallibel Finance PLC crossed the one billion rupee net profit mark with the company announcing its income statement for the financial year ended on 31 March, 2018, recording growth across key indicators including income and profitability. Gross income for the financial year grew 35 percent over the previous year to reach 6.9 […]
Apartments only 1.7-pct of Colombo’s living units: Pradeep Moraes
Jun 26, 2018 (LBO) – Contrary to popular perception, apartments currently account for only 1.7 per cent of Colombo’s residential facilities despite the scarcity of land to cater to rapid urbanisation, an industry leader has disclosed. Representing Altair as a Director of the iconic development and the Condominium Developers Association of Sri Lanka (CDASL) as its […]