Category: Markets
‘s Securities & Exchange Commission files action for insider dealing
Mar 31, 2019 (LBO) – Sri Lanka’s Securities & Exchange Commission has filed an action before the Fort Magistrate’s Court against Dr. Sena Yaddehige, for dealing in the shares of Kegalle Plantations. The commission says being the Chairman of the Company, just before a 45 rupees dividend was declared by Kegalle Plantations on 10th July 2015, which […]
Sri Lanka rupee gains: Stocks marginally down
Mar 19, 2019 (LBO) – The Sri Lanka rupee ended firmer at 178.25/40 to the US dollar Monday compared to Friday’s close of 178.40/55 while shares were little changed, brokers said. ‘Inflows from a sale of US 2.4 billion dollar sovereign bond are expected to boost the rupee,’ brokers said. The rupee has climbed 2.4 percent […]
Sri Lanka official reserves at USD 6.0 billion by end February
Mar 08, 2019 (LBO) – Sri Lanka’s gross official reserves were 6,005.5 million US dollars by the end of February, down from 6,152.2 million US dollars in January this year, latest Central Bank data showed. By the end of February, foreign currency reserves were 5,091.5 million dollars while the reserve position in the IMF was 66.9 […]
”s senior unsecured US dollar bonds
Mar 07, 2019 (LBO) – Moody’s Investors Service has today assigned a B2 rating to the Government of Sri Lanka’s senior unsecured US dollar-denominated bonds. The rating is based on the preliminary offering memorandum received today, Moody’s Investors Service said. The bonds will rank pari passu with the Government of Sri Lanka’s current and future senior unsecured external […]
Stock investor Nimal Perera takes to twitter to bash the CSE
March 7, 2019 (LBO) – Controversial stock market investor Nimal Perera has taken to twitter to make critical remarks about the poor performance of the Colombo Stock Exchange (CSE). His remarks centred on the dismal trading volume and lack of IPOs in the market. In October Nimal Perera disclosed his stock positions to the Daily […]
‘s upcoming USD bonds an expected rating of B (EXP)
Mar 07, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B (EXP)’. The rating agency said the expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B’ with a stable outlook. The agency, however, said that the rating would be sensitive […]
Another cash call – DFCC to tap the markets for Rs7.6bn in strikingly low priced rights issue
March 6, 2019 (LBO) – DFCC became the latest major bank in Sri Lanka to tap the capital markets in an aggressive rights issue. The bank aims too raise Rs7.6bn in new equity with the rights issue priced at Rs72/share. Pricing is close to the current trading price in the market of Rs75/share, but much […]
Rock bottom Rs12bn rights issue pricing crashes Sampath Bank (SAMP) shares
March 1, 2019 (LBO) – Shares on the Colombo Stock Exchange were weaker across the board with Sampath Bank (SAMP) shares having their worst trading day in recent memory.Two hours into the trading day, shares of SAMP were off close to 16% with just Rs85mn worth of shares traded. The broader market indices were down […]
IMF reaches understanding at staff level to extend EFF for an additional year
Mar 01, 2019 (LBO) – A staff team from the International Monetary Fund (IMF) has reached an understanding at the staff level with the Sri Lankan authorities on the fifth review and the request to extend the Extended Fund Facility (EFF) arrangement for an additional year. Accordingly, the remaining disbursements will be evenly spread over this […]
Sri Lanka stocks wake up with net foreign buying
February 28, 2019 (LBO) – The Colombo Stock Exchange (CSE) awakened from its slumber with trading crossing the Rs2bn mark (US$11mn) after many days of dull trading. Stocks finished the day slightly up with trading activity across the board. Foreigners were significant net buyers with net foreign buying of Rs500mn on the day. Foreign buying of […]
Inflation likely to remain in 4 – 6 percent range in 2019: Central Bank projections
Feb 22, 2019 (LBO) – Projections of the Central Bank indicates that inflation is likely to remain in the desired 4 – 6 percent range in 2019 and beyond. Headline inflation and core inflation increased in January 2019 mainly due to the increase in non-food inflation driven by higher expenditure on certain items such as […]
Central Bank decides to reduce SRR & keep policy rates unchanged
Feb 22, 2019 (LBO) – The Monetary Board of the Central Bank, at its meeting held on 21 February 2019, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.00 percentage point to 5.00 percent with effect from 01 March 2019. The Board also decided to […]