Category: Markets
‘s Orient Finance IPO backed by Janashakthi
Feb 18, 2016 (LBO) – Sri Lanka’s Orient Finance initial public offering was backed by Janashakthi Insurance given the trying market conditions for raising capital, a senior official said. “The biggest investor was the parent company (Janashakthi Insurance) because the way the restructuring went; during the amalgamation the parent had a cash out of their […]
Crowdfunding platform Crowdisland.lk launched for Sri Lankan start ups
Feb 18, 2016 (LBO) – Sri Lankan start ups will be able to utilize a new crowdfunding platform, crowdisland.lk, launched on Wednesday with the backing of an experienced group of investors famiiiar with Sri Lankan companies, its founders said. Crowdfunding is the process of raising money to fund a project or business venture through many […]
Sri Lanka stocks close down 0.5-pct
Feb 17, 2016 – Sri Lanka’s stocks closed down at 0.53 percent with low investor activity due to economic and policy uncertainty, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 33.34 points down at 6,220.82 down 0.53 percent. The S&P SL20 closed 0.43 points down at 3,242.31 down 14.00 percent. Turnover was […]
Norges Bank increases shareholding in Dialog Axiata
Feb 17, 2016 (LBO) – Norges Bank has increased its shareholding in Dialog Axiata PLC to 63.7 million shares as of end December, data filed with the Colombo Stock Exchange shows. Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, is now the sixth biggest shareholder in telecommunications company Dialog with a 0.8 […]
Sri Lanka stocks close down 0.2-pct
Feb 16, 2016 – Sri Lanka’s stocks closed down at 0.19 percent with low investor activity and losses in Dialog Axaita and Hayleys, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 12.01 points down at 6,254.16 down 0.19 percent. The S&P SL20 closed 0.37 points down at 3,256.31 down 0.01 percent. Turnover […]
New capital adequacy requirements for stockbrokers: CSE
Feb 16, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) is in the process of implementing a Risk-based Capital Adequacy Requirement (CAR) for stockbroker firms replacing the minimum net capital requirement of 35 million rupees, pending approval of the SEC, a statement said. “The Risk-based Capital Adequacy Requirement would replace the minimum Net Capital […]
Global stocks rebound, eyes on Saudi, Russia Oil meeting
Feb 16, 2016 (LBO) – Global stocks rebounded on chances equity markets have been oversold with China opening up two percent after Japan’s seven percent surge on Monday. Negative interest rates in Japan pushed Japan’s government pension fund to consider making higher allocations to its equity market, as Mark Mobius said China’s irrational market now […]
Sri Lanka stocks close down 0.3-pct; Continued foreign outflow
Feb 15, 2016 – Sri Lanka’s stocks closed down at 0.27 percent for a seventh continuous session with continued foreign selling and some institutional participation witnessed, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 16.83 points down at 6,266.17 down 0.27 percent. 6,266.17-16.83-0.27% The S&P SL20 closed 4.70 points down at 3,260.24 […]
China stocks open lower with equities in bear market
Feb 15, 2016 (LBO) – China’s stocks opened 1.9 percent lower after a week-long holiday during which global equities entered a bear market. The yuan gained 0.9 percent in Shanghai after the central bank strengthened the currency’s reference rate by the most in three months. The Nikkei was up 4.8 percent on Monday and Hang […]
Sri Lanka CSE calls proposals for CCP suppliers
Feb 11, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange says they are calling for Request for Information (RFIs) inviting potential suppliers for the Central Counter Party (CCP) system to be implement in early 2017. “Upon completion of the first phase of the project, we have now issued a Request for Information (RFI) to engage potential suppliers,” […]
Nikkei falls 5 pct on negative interest rates, global growth
Feb 09, 2016 (LBO) – Japan’s Nikkei fell 5 percent on Tuesday on weaker banking shares after the Bank of Japan allowed negative interest rates, while a stronger yen dragged down stocks across the board. The Nikkei dropped fell to 16,139 points in mid morning trade while China and Hong Kong markets were closed for […]
IMF urges Sri Lanka govt to narrow fiscal deficit
Feb 05, 2016 (LBO) – The International Monetary Fund urged the Sri Lankan government to narrow the fiscal deficit after a staff mission to Colombo this week to discuss economic developments. “The mission has advised the government to urgently make a stronger effort to narrow the fiscal deficit and put the public finances on a […]