Category: Markets
Foreign outflows from stocks/bonds Rs7.6bn/week, $ 1bn loan from China to prop reserves
October 20, 2018 (LBO) – Net foreign outflows from Sri Lanka’s stock/bond markets continued at a brisk pace this past week.The government securities market saw outflows of Rs5.3bn, while the stock market saw outflows of Rs2.3bn for the week. Stock market outflows were exacerbated by a Rs1.4bn foreign sale of Singer Sri Lanka (SINS).Year to […]
Sri Lanka secures USD1Bn Foreign Currency Term Financing Facility
Oct 17, 2018 (LBO) – Sri Lanka has secured 1,000 million US dollars from the China Development Bank (CDB) under the Foreign Currency Term Financing Facility (FCTFF) with a maturity period of eight years.The Central Bank said in a statement that interest cost is highly competitive and linked to 6 Month USD LIBOR with a grace […]
Sri Lanka plans new import controls for non essential goods
Oct 17, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has instructed the Finance Ministry to study the current imports and submit a report on goods of which the imports can be temporarily restricted. President has made these remarks at the 20th session of the National Economic Council, which was held at the Presidential Secretariat […]
Controversial investor Nimal Perera discloses stock market positions in DailyFT report
October 16, 2018 (LBO) – In a high profile report in the DailyFT, controversial Colombo Stock Exchange (CSE) investor Nimal Perera disclosed his stock positions amounting to approximately Rs2bn. The report claimed that most of the positions were purchased recently. The positions disclosed in the report under the name of his firm NP Capital are […]
JKH shares trade Rs1.3bn for the day, most transactions at 126-127/share
October 16, 2018 (LBO) – Shares of recently sinking market bellwether John Keells Holdings (JKH) have transacted close to Rs1.3bn (US$7.5mn) worth of shares today, with transactions done in several blocks through the day. Most of the shares were done at a price of Rs126-127, multiyear lows for the stock. Late in the trading day […]
Foreign outflow from the CSE $ 10mn on the day, $ 50mn for 2018
October 15, 2018 (LBO) – Foreign outflow out of the Sri Lankan stock market topped Rs1.7bn (US$10mn) on the day as the former owner of Singer Sri Lanka (SINS) disposed of their last 9.47% stake in the company. The buyer was highly leveraged Hayleys (HAYL) who bought control of the CSE listed Sri Lankan retailer […]
‘s stock/bond markets cross $ 500mn YTD
October 12, 2018 (LBO) – Net foreign selling of Sri Lanka’s stocks and bonds has crossed US$500 million dollars for 2018. The outflows, which have been a significant factor in the devaluation of Sri Lanka’s currency and declining foreign reserves, show no signs of slowing down. Year to date in 2018, net foreign selling of […]
Central Bank says Cabraal’s comments on rupee depreciation misleading
Oct 12, 2018 (LBO) – Central Bank says the allegations made by former Governor Nivard Cabraal in a recent newspaper article that the Central Bank has neglected its statutory duty and the recent depreciation of the rupee could have been better managed are misleading. “The exchange rate pressure that is currently observed is not limited […]
‘s CSE takes no notice
October 11, 2018 (LBO) – Global markets are plunging with many indices around the world falling sharply. The carnage was triggered by a spike in U.S. 10 year treasury yields up to 3.25%. The Dow Jones Industrial Average and the S&P 500 were down over 3% on Wednesday, while the Nasdaq was down over 4%. […]
CSE-SEC holds Invest Sri Lanka Forum in Edinburgh and London
Oct 11, 2018 (LBO) – A large gathering of Institutional Investors based in London showed a keen interest in investing in Sri Lankan equities while attending an Invest Sri Lanka Forum held at the London Stock Exchange recently. The Forum, which was organized by the Colombo Stock Exchange (CSE) in association with the Securities and Exchange […]
Sri Lanka FM interview ahead of IMF and WB annual meet on global trade, economy
Oct 10, 2018 (LBO) – Global finance and reserve bank chiefs will gather this week in Bali, Indonesia for the annual gathering of the International Monetary Fund and World Bank amid rising concern over trade war and risks of global economic crisis.Sri Lanka’s Minister of Finance and Communications, Mangala Samaraweera is chair of the Groups […]
President, NEC hold discussions on devaluation of rupee and economy
Oct 05, 2018 (LBO) – Special attention was drawn at a discussion regarding the promotion of Sri Lanka’s export sector and managing the devaluation of the rupee by the National Economic Council, headed by President Maithripala Sirisena. The NEC gathered under the patronage of President Maithripala Sirisena at the Presidential Secretariat, Wednesday with the participation […]