Category: Markets
Sri Lanka’s stock exchange launches educational web portal
Mar 03, 2016 (LBO) – the Colombo Stock Exchange on Thursday officially launched its online educational portal with the aim of improving skills and knowledge related to the capital market among public. The new portal (cse.edu.lk) which delivers content in all three languages is set to assist the CSE in reaching out to a wider […]
Singer Sri Lanka to raise Rs2bn in listed debt
Mar 02, 2016 (LBO) – Singer Sri Lanka said it is planning to raise as much as 2 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that it wanted to sell 10 million debentures of 100 rupees each. But […]
Popular international stocks take a beating, say analysts
Feb 29, 2016 (LBO) – Popular stocks are taking a beating this year due to redemptions by sovereign and wealth funds, analysts say. These companies are victims of their own success as investors sell winners to meet redemptions, according to BNP Paribas Investment Partners. For instance, Amazon.com Inc. is down 18 percent in 2016 after […]
Investrust says its money market fund outperformed in 2015
Feb 29, 2016 (LBO) – Investrust Wealth Management Ltd, a member of Investrust Holdings Ltd, said its money market fund was the best performing for the year ended 2015. The Investrust Money Fund delivered a net after fee return of 8.60 percent p.a. while outperforming the Money Market Funds available in the market, according to […]
Sri Lanka to go to markets after IMF meetings
Feb 29, 2016 (LBO) – Sri Lanka may go to international markets to raise up to 1.5 billion dollars this year after gauging the outcome of meetings with the International Monetary Fund, a central bank official said. Sri Lanka will hold discussions with the IMF in March and April on a support facility for its […]
Capital gains tax may kill stock market: Ravi Abeysuriya
Feb 26, 2016 (LBO) – Sri Lanka’s government should not impose a capital gains tax on the stock market as the market still runs on low trade volumes, Group CEO of Candor Group, Ravi Abeysuriya said. Capital gains are profits realized on a sale of a non-inventory asset that was purchased at a cost that […]
Sri Lanka no longer a poor country, discussions with IMF constructive: CB Governor
Feb 26, 2016 (LBO) – Sri Lanka is no longer a poor country, and must rely on markets for its funding needs, Central Bank Governor Arjuna Mahendran said. An endorsement of the IMF, in this regard, would be valuable, he added. “We have had very constructive discussions with the IMF,” Mahendran said. “The government and […]
Sri Lanka wants to maintain rates at current levels: CB Governor
Feb 25, 2016 (LBO) – Sri Lanka’s central bank governor hopes interest rates can be maintained at current levels, after a 50 basis point rate hike last week, but this will be determined by external factors, he said. The island’s policy rates are at 6.5 percent and 8 percent, while 10-year treasury bond yields have […]
SEC reconsiders minimum public float rule: CSE
Feb 25, 2016 (LBO) – Sri Lanka’s securities regulator is reconsidering the minimum public float rule as the intention of introducing such rule was not met, a senior official at the CSE said. Chief Executive Officer at the Colombo Stock Exchange Rajeeva Bandaranaike said the intention of introducing the minimum holding rule was to encourage […]
Emerging markets offer long-term opportunity: Research Affiliates
Feb 25, 2016 (LBO) – Christopher Brightman, Research Affiliates’ Chief Investment Officer, says the exodus from emerging markets offers wonderful opportunity for opportunistic investors. Brightman shares market insights for global investment management firm PIMCO’s All Asset funds. PIMCO has 1.4 trillion dollars in assets under management, and their market insights can be read here. Q: […]
Sri Lanka stocks down 0.2-pct
Feb 24, 2016 (LBO) – Sri Lankan stocks closed down at 0.18 percent with losses in some banking and finance sector stocks with low retail investor activity, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.35 points down at 6,217.64 down 0.18 percent. The S&P SL20 closed 0.91 points down at 3,260.80 […]
Sri Lanka stocks up 0.7-pct
Feb 19, 2016 (LBO) – Sri Lankan stocks closed up at 0.67 percent with gains in most of the index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 41.89 points up at 6,250.89 up 0.67 percent. The S&P SL20 closed 28.45 points up at 3,269.24 up 0.88 percent. Turnover […]