Category: Markets
‘s new Banking Act to facilitate banks in Colombo Intl. Financial Centre
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank has initiated drafting a new Banking Act and expects to complete its enactment in 2021. The new Banking Act will contain provisions to extend regulations for banks, which are to be established in the Colombo International Financial Centre. Key concepts of the proposed Act include provisions […]
CB Chief urges Sri Lanka banks to rethink its credit disbursement policies
Jan 06, 2020 (LBO) – Central Bank Governor Professor W D Lakshman urged Sri Lanka’s banking sector to rethink its credit disbursement policies, as the traditional ‘risk averse’ mindset has deprived emerging entrepreneurs and new ventures of much needed initial capital. Announcing the road map of the Central Bank for this year, Lakshman said credit […]
Business suspension of Perpetual Treasuries extended
Jan 06, 2020 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a primary dealer for a period of six months. The extension came with effect from yesterday in order to continue the investigations […]
New inclusions & exclusions of MBSL MIDCAP Index 2020 announced
Jan 02, 2020 (LBO) – New inclusions and exclusions of the MBSL MIDCAP Index 2020 have been announced. Accordingly, HNB Assurance, Sanasa Development Bank, Union Assurance, Commercial Bank, Dunamis Capital, Expolanka Holdings, Odel, Singer (Sri Lanka), Access Engineering and Ril Property have been excluded from the index. Seylan Bank, Pan Asia Banking Corp, First Capital […]
CSE indices comparison for 2019: ASPI up 1.3-pct, S&P SL20 down 6.3-pct
Dec 31, 2019 (LBO) – Colombo Stock Exchange ended the year 2019 on Tuesday with a positive note, rounding up the gain of All Share Price Index (ASPI) by 1.27 percent to 6,129 as compared to the beginning of the year. The ASPI is the broad market index of the CSE and is designed to […]
First Capital Research trims down its rate cut probability to 50-pct
Dec 24, 2019 (LBO) – Considering the recent major policy changes, First Capital Research has trimmed down its rate cut probability to 50 percent from the previous expectation of 100 percent probability, specifically due to the tax benefits, moratorium on loans and easing of capital adequacy to stimulate the consumer demand and revive growth in […]
Sri Lankan authorities dispute revision of outlook to Negative by Fitch Ratings
Dec 19, 2019 (LBO) – Sri Lankan authorities stress that the recent rating action by Fitch Ratings to revise the country’s Outlook to ‘Negative’ has been hastily done without considering facts on the ground and such action is untimely and constitutes a rush to judgement. Releasing a statement the Finance Ministry said that it is […]
Sri Lanka records 2.7-pct growth in third quarter of 2019
Dec 19, 2019 (LBO) – Sri Lanka’s national accounts estimates of the third quarter still reflect the impact of ‘Easter Sunday Attack’ especially in some services sector related economic activities, the statistics office said. When compared to the third quarter of 2018, the ‘Accommodation, food and beverage service activities’ even in this quarter have contracted […]
Sep quarter earnings declined by 9.6-pct for 264 companies: FC Research
Dec 19, 2019 (LBO) – Sri Lanka’s First Capital Research says that quarterly earnings have been dipped for listed companies amidst weaker consumer spending albeit recovers relative to previous quarters. September quarter earnings dipped by 9.6 percent YoY to 45.8 billion rupees primarily due to sluggish performance in Insurance (-48%YoY), Consumer Services (-495%YoY), Capital Goods […]
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Dec 19, 2019 (LBO) – Fitch Ratings has revised the Outlook on Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and has affirmed the IDR at ‘B’. KEY RATING DRIVERS Revision of the Outlook to Negative from Stable reflects rising risks to debt sustainability from a significant shift in fiscal policy […]
Sri Lanka economy boosted after election by local investor activity: ICRA
Dec17, 2019 (LBO) – Sri Lanka’s overview activities in the economy improved post presidential election driven by positive sentiments from the local investors, a rating agency said. “Bourse saw gains especially in manufacturing, trading, power & energy, and beverage, food, & tobacco sectors,” ICRA Lanka Limited, subsidiary of ICRA limited, a group company of Moody’s […]
National policy framework of Government released via Treasury web site
Dec 16, 2019 (LBO) – The Government’s new National policy framework Vistas of Prosperity and Splendour has been released to the internet via Treasury website www.treasury.gov.lk. This is aimed at achieving the fourfold outcome of being a productive citizen, a contented family, a virtuous, disciplined and just society and a prosperous nation. Accordingly, it is […]