Category: Markets
CSE obtains exchange control approval to list foreign companies
Jan 06, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange has obtained exchange control approval from the Finance Ministry to start listing foreign companies in dollar denominated securities, CSE Chairman Vajira Kulatilaka said. Kulatilaka told LBO that the idea is to make the country a regional hub for financial activities. “This is the first step […]
HNB Grameen shares to be listed in CSE
Jan 06, 2016 (LBO) – Hatton National Bank’s micro finance arm, HNB Grameen, is to list its shares in the Colombo Stock Exchange shortly, Managing Director of HNB, Jonathan Alles said. Alles was speaking at the trade opening ceremony conducted at the CSE yesterday. “In the HNB group, Lanka Ventures, HNB Assurance are listed and […]
Sri Lanka, Pakistan consider currency swap agreement
Jan 06, 2015 (LBO) – Sri Lanka and Pakistan will considering entering into a currency swap agreement, the Prime Minister of Pakistan Nawaz Sharif said speaking in Colombo. The two countries will also look at a joint investment company, he said speaking at the launch of the single country trade exhibition. Sri Lanka has a […]
Sri Lanka stocks close down 0.3-pct
Jan 05, 2016 (LBO) – Sri Lankan stocks closed down at 0.33 percent with losses in index heavy and some banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed lower at 22.32 points at 6,845.30 down 0.33 percent. S&P SL20 closed 8.19 points down at 3,590.69 down 0.23 percent. Turnover was […]
Foreign funds overweight on India bonds
Jan 05, 2016 (LBO) – India has a positive story for bonds with some foreign funds investing in emerging markets overweight on Indian bonds, a report said. Falling oil prices improved Indian government finances — the country is a net importer of oil — while a stable currency and limited exposure to China supported these investments. […]
US, European markets tumble after China rout
Dec 05, 2015 (LBO) – U.S. and European markets tumbled following a seven percent crash of the China stock market after a survey indicated China’s manufacturing contracted for another month. The Dow Jones index closed down 1.58 percent, S&P fell 1.53 percent and Nasdaq closed down 2.08 percent. The FTSE slumped 2.39 percent, and DAX […]
Sri Lanka interest rates tied to inflation, Fed: CB Governor
Jan 01, 2016 (LBO) – Sri Lanka will review policy interest rates based on inflation outlook and external factors such as Fed interest rates, the Central Bank Governor told a press conference. “The key thing to look at is inflationary expectations and that is something we have full responsibility for,” Governor Arjuna Mahendran said. The […]
‘s CSE removes share transaction levy
Dec 31, 2015 (LBO) – Sri Lanka’s Colombo stock exchange’s share transaction levy of 0.3 percent will be removed with effect from 1 January 2016, a statement said.“The proposal was announced in the government’s 2016 budget presented to parliament in November aimed at encouraging share market trading,” a stock exchange filling said.Under the new fee […]
Sri Lanka stocks close up 0.3-pct
Dec 31, 2015 (LBO) – Sri Lankan stocks closed up at 0.35 percent with gains in some banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed higher at 23.87 points at 6,894.50 up 0.35 percent. S&P SL20 closed 29.00 points up at 3,634.07 up 0.80 percent. Turnover was at 326 million […]
Sri Lanka economy grew 5.2 pct in first nine months : CB-Updated
(Updated with Central Bank presentation) Dec 31, 2015 (LBO) -Sri Lanka’s economy grew 5.2 percent during the first nine months of the year compared with 2.4 percent growth during the same period last year, the Central Bank said on Thursday. Strong credit growth to the private sector seeping out as consumption imports was, however, a […]
Sri Lanka Central Bank tightens monetary policy, increases SRR
Dec 30, 2015 (LBO) – Sri Lanka’s Central Bank tightened monetary policy on Wednesday citing concerns over expansion in monetary aggregates fueling inflation. The Monetary Board raised the Statutory Reserve Ratio (SRR) applicable to all rupee deposit liabilities of commercial banks by 1.50 percentage points to 7.50 per cent effective from 16 January. The Standing […]
Sri Lanka stocks close up 0.3-pct
Dec 30, 2015 (LBO) – Sri Lankan stocks closed up at 0.33 percent with some banking and finance sector stocks making gains, brokers said. The Colombo benchmark All Share Price Index closed higher at 22.89 points at 6,870.63 up 0.33 percent. S&P SL20 closed 12.95 points up at 3,605.07 up 0.36 percent. Turnover was at […]