Author: lbostgadmin
Sri Lanka stocks close down 0.3-pct:Turnover high
Dec 10, 2015 (LBO) – Sri Lankan stocks closed down at 0.26 percent for a fifth consecutive day, Thursday with losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 17.64 points at 6,823.91 down 0.26 percent. S&P SL20 closed 3.44 points down at 3,612.01 down 0.10 percent. Turnover […]
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Fitch Ratings Lanka has assigned Sri Lanka-based Sunshine Holdings PLC (Sunshine Holdings) a National Long-Term Rating of ‘A(lka)’ with a Stable Outlook.Sunshine Holdings’ rating reflects the defensive nature of its key operating subsidiaries, their leading market positions and strong free cash flow (FCF) generation.The rating also takes into account Sunshine Holdings’ low group leverage, which […]
USD100mn from ADB to strengthen SME sector in Sri Lanka
Dec 10, 2015 (LBO) – The cabinet nod has been given to a 100 million US dollar project to strengthen the Small and Medium Scale Entrepreneur field in Sri Lanka.The project will be funded by the Asian Development Bank.The cabinet has also approved to draft a new bill to facilitate Secured Transactions instead of the […]
PTL Watch: Yield curve shifts higher
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‘s Asiri Hospitals
Dec 10, 2015 (LBO) – TPG Growth, a global private investment firm announced it bought a 28 percent stake in Asiri Hospital Holdings Plc, a unit of Sri Lanka’s Softlogic group in a 7.6 billion rupee deal, a statement said. “We’ve seen significant growth opportunities in healthcare across the globe, and particularly in […]
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Dec 10, 2015 (LBO) – Sri Lanka’s Dialog Axiata PLC launched its cloud services ‘Cumulus’ in Colombo on Wednesday together with several technology companies including Ericsson, EMC, Fortinet, Hewlett Packard, Kingslake, and Microsoft.Cumulus provides services such as virtual IT infrastructure, enterprise storage and data backup, messaging solutions, development platforms, device management, business applications, productivity solutions, […]
IMF concludes fourth post-program monitoring
Dec 10, 2015 (LBO) – The International Monetary Fund concluded its fourth Post-Program Monitoring with Sri Lanka, noting a more challenging external environment, macro-financial imbalances and less room available for monetary easing.“Recent economic developments reflect a more challenging external environment as well as a sharpening of macro-financial imbalances that began to emerge late in 2014,” a […]
Should you invest in a rental property?
The rental market in Colombo and its suburbs, including Malabe, Battaramulla and Wattala, is growing, as property prices increase. With property prices on the rise, owners in Colombo are in a fortunate position. They can either sell their home with a very high profit margin or simply rent it out to earn short or long-term […]
Sri Lanka stocks close down 0.1-pct: Eight and a half month low
Dec 09, 2015 (LBO) – Sri Lankan stocks closed down at 0.11 percent for a fourth consecutive day, Wednesday amid the increase in treasury yields after six weeks of decline, brokers said. The Colombo benchmark All Share Price Index closed down 7.54 points at 6,841.55 down 0.11 percent. S&P SL20 closed 8.38 points down at 3,616.01 […]
Sri Lanka has borrowings of USD1.5 bln in pipeline for next year
Dec 09, 2015 (LBO) – Sri Lanka may go to international markets to raise up to 1.5 billion dollars next year for budgetary financing, in line with the amount raised this year, a central bank official said. Sri Lanka raised 1.5 billion dollars in a 10-year sovereign bond issue in October with a coupon of […]
Sri Lanka treasury bill yields up at auction
Dec 09, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with the 12-month yield rising 6 basis points to 6.92 percent, data from the state debt office showed.The 3-month yield rose 04 basis points to 6.10 percent and the 6-month yield rose 05 basis points to 6.35 percent. The debt […]
Uber officially launches in Sri Lanka
Dec 09, 2015 (LBO) – Uber, a global ride sharing company with an on-demand technology platform and app that connects commuters who need a ride and licensed drivers, announced the official launch of its uberX product in Colombo, Sri Lanka, Wednesday. “Demand for Uber is rapidly growing as more and more residents and tourists in […]