Category: Markets
Sri Lanka Central Bank eases monetary policy further to support economic activity
Mar 16, 2020 (LBO) – The Monetary Board of Sri Lanka’s Central Bank at an urgent meeting held today has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 25 basis points to 6.25 percent and 7.25 percent, respectively, with effect from tomorrow. The board has also […]
CSE trading halted temporarily as S & P drops below 5-pct
Mar 12, 2020 (LBO) – Trading at Sri Lanka’s Colombo Stock Exchange (CSE) has been halted temporarily for 30 minutes following the S and P index dropping below 5 percent for the second time this week, stockbrokers said. The S and P index fell 121.48 points or 5.05 percent to 2,284.32 points soon after it […]
SEC to take measures to support stock market
Mar 12, 2020 (LBO) – The Members of the Commission of the Securities and Exchange Commission of Sri Lanka (SEC) convened a special meeting Thursday to assess the current situation in the stock market and determine what regulatory relief and assistance was needed to manage the impact arising from the global stock market downturn due […]
CSE recovers ASPI and S&P making gains during trading
Mar 12, 2020 (LBO) – The Colombo bourse recovered some of its losses after Wednesdays panic selling which led to the indices falling to an 8 year low, a market report said. Positive sentiments set by global markets on renewed hopes of government stimulus and recovery in oil prices led to price gains. Price gains […]
Sri Lanka stocks close down
Mar 11, 2020 (LBO) – Following global markets, the Colombo Bourse took an expected beating Tuesday with both indices tumbling heavily during the initial ten minutes of trading. With the S&P SL20 index succumbing to a 5% drop at the initial hour, a trading halt was imposed for half an hour. Although, the initial panic […]
CSE trading halted temporarily: Trading to re-commence by 10.12 am
Mar 10, 2020 (LBO) – Trading at Sri Lanka’s Colombo Stock Exchange (CSE) has been halted temporarily following the S and P index dropping below 5 percent, stockbrokers said. The S and P index fell 124.28 points or 5.01 percent soon after it opened for trading Tuesday following a long weekend break. “The market will […]
COVID-19 Outbreak to have significant economic impact on developing Asia: ADB
Mar 10, 2020 (LBO) – The ongoing novel coronavirus (COVID-19) outbreak will have a significant impact on developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply disruptions, and health effects, according to a new analysis by the Asian Development Bank (ADB). The […]
COVID-19 outbreak likely to affect Sri Lanka’s economic performance : Central Bank
Mar 05, 2020 (LBO) – The exact impact on the Sri Lankan Economy would depend on the extent of the global spread of the COVID-19 outbreak, its persistence and policy responses of major economies and trading partners, the Central Bank said. “Sri Lanka’s economic links with China could be directly affected as significant volumes of […]
Policy interest rates of Central Bank of Sri Lanka to remain unchanged
Mar 05, 2020 (LBO) – The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 04 March 2020, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 6.50 percent and 7.50 percent, respectively, and […]
Securities and Exchange Commission DG removed with immediate effect
Mar 02, 2020 (LBO) – Securities and Exchange Commission (SEC) Director General (DG) Vajira Wijegunawardane, appointed in 2015 with an overall service to the SEC for 13 years has been removed from the post with immediate effect. The decision to remove Wijegunawardane was by the Commissioners of the SEC SEC Director Litigation Chinthaka Mendis has […]
Central Bank to introduce cost-reflective benchmark interest rate instead of SLIBOR
Feb 24, 2020 (LBO) – The Monetary Board of Sri Lanka’s Central Bank has decided to discontinue the compilation of SLIBOR with effect from 01 July 2020. The Central Bank will continue to publish SLIBOR based on offered rates submitted by LCBs until 30 June 2020, in order to prevent inconvenience to any participant in […]
FCR upgrades ASPI target for December to 7,500 amidst added boost to economy
Feb 19, 2020 (LBO) – With the recovery in economic activity and company earnings, First Capital Research (FCR) expects an upward trend in the capital market supported by stronger market multiples. Launching the Strategy Report 2020, Head of Research at the First Capital Holdings, Dimantha Mathew said that the heavy tax cuts and the policy […]