Category: Markets
Sri Lanka rupee hits new record low of 161.00; Stocks down
Jun 18, 2018 (LBO) – Sri Lanka’s stock and money markets got off to a slow start Monday with rupee dropping to a new low of 161.00 against the US dollar while stocks also showed a dip.The rupee opened at around 159.40/90 but by mid day was quoted around 161.00/05 to the US dollars in the […]
EPF proven a winner with its large divestiture of John Keells (JKH) shares to Malaysians in 2012
June 16, 2018 (LBO) – The EPF as of late has not been proven to be the most savvy investor, but with one of its biggest moves in the stock market 6 years ago, the provident fund clearly made the right choice. Early in 2012, Sri Lanka’s largest provident fund sold an 8.4% stake in […]
MTD Walkers (KAPI) reports a massive loss of Rs2.8bn
June 15, 2018 (LBO) – The woes of Colombo Stock Exchange listed stocks continue with the financial results of construction company MTD Walkers (KAPI). For the year ended March 31st 2018, KAPI has reported a staggering loss of Rs2.87bn, Analysts say this is one of the largest losses of any listed company in recent memory. […]
‘s Access Engineering (AEL)
June 13, 2018 (LBO) – Due to the lacklustre performance of the Colombo Stock Exchange, foreign investors likely have made significant losses investing in Sri Lankan stocks over the past few years. Some of the largest losses they have experienced in percentage terms are likely to be investments made in shares of Sri Lankan listed […]
‘t tolerate speculation further; if necessary will use all instruments to discipline
Jun 13, 2018 (LBO) – Sri Lanka’s Central Bank Governor warned forex market players saying that if necessary he is ready to use all the instruments they have to discipline the market and the Central Bank is not going to impose an undue burden on the people.Speaking at a recent event, Governor Indrajit Coomaraswamy said […]
New MLA amendments to restrict financing fiscal deficit by Central Bank
June 05, 2018 (LBO) – Sri Lanka’s Central Bank said there will be new legislative amendments to Monetary Law Act (MLA) to restrict financing the fiscal deficit of the government by the Central Bank. Currently, the Central bank has been compelled to purchase Treasury bills in the primary market at times without regard to monetary […]
‘s 4th review; approves USD 252 mn disbursement
June 02, 2018 (LBO) – Executive Board of the IMF has completed the fourth review of Sri Lanka’s economic performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF) arrangement. Completion of this review enables the disbursement of the equivalent of SDR 177.774 million (about US$ 252 million), bringing […]
Dollar strengthening combines with political uncertainty in Sri Lanka: Moody’s
May 28, 2018 (LBO) – Strengthening of the Dollar in Sri Lanka has combined with domestic political uncertainty, weighing on the rupee, Moody’s Investors Service said.Moody’s said country-specific factors like in Sri Lanka have played a role in tightening financing conditions. Tightening financing conditions reflect various factors, including the appreciation of the US dollar. Moody’s, […]
Central Bank to create intervention rules for foreign exchange market
May 23, 2018 (LBO) – Sri Lanka’s Central Bank is to introduce several rules, the officials need to follow when they are intervening in the foreign exchange market, Central Bank Governor Indrajit Coomaraswamy said. Speaking at a recent event, Coomaraswamy, however, said Central Bank’s intervention in the forex market will only be limited to smooth […]
SL – China FTA would result in higher gains for Sri Lankan exports: Study
May 22, 2018 (LBO) – Sri Lanka – China FTA would result in higher gains for Sri Lankan exports compared to products imported from China which are already entering Sri Lanka duty free, a recent study showed. The study carried out by the Economics Research Team of Verité Research, however, noted that the analysis is […]
Sri Lanka inflation slows to 1.6-pct in April, lowest since Feb 2016
May 22, 2018 (LBO) – Sri Lanka’s headline inflation measured by National Consumer Price Index (NCPI) has decreased to 1.6 percent in April, lowest since February 2016, from 2.8 percent in March 2018. The decline in the year-on-year inflation in April 2018 was mainly driven by the higher base resulted by the increase in prices […]
IMF to complete its 4th review on June 1 as SL introduced fuel price formula
May 18, 2018 (LBO) – IMF Communications Department on Thursday announced that their board is scheduled to discuss Sri Lanka’s completion of its fourth review on June 1. At an IMF press briefing held in Washington, Gerry Rice of the communications department told reporters that the fuel pricing mechanism would benefit Sri Lanka and the […]