Category: Markets
World Bank Vice President arrives in Sri Lanka to support country’s reform plans
Feb 13, 2019 (LBO) – The World Bank Vice President for the South Asia Region, Hartwig Schafer arrived today on his first visit to Sri Lanka to gain a better understanding of the country’s development priorities and how the Bank can continue to support its critical reform agenda. “Sri Lanka has made good progress in reducing […]
Sri Lanka stocks wake up, foreigners active but still net sellers
February 11, 2018 (LBO) – The Sri Lankan stock market has at least for today, awoken from its seemingly endless slumber. The Colombo Stock Exchange (CSE) recorded unusually heavy trading on the day with Rs3.3bn (USmn) worth of trading turnover.Foreigners were unusually active, perhaps as a result of Sri Lanka’s stabilising currency. The Sri Lankan […]
Sri Lanka official reserves down to USD 6.1 billion by end January: Central Bank
Feb 08, 2019 (LBO) – Sri Lanka’s official reserve assets were 6.14 billion US dollars by the end of January this year, down from 6.92 billion US dollars by December last year, latest Central Bank data showed. By the end of January, the reserve position in the IMF was 67.0 billion dollars, SDRs were 1.25 billion, […]
SEC charges a person before Magistrate for failing to appear when summoned
Feb 07, 2019 (LBO) – Securities and Exchange Commission of Sri Lanka has charged a person named Vidanalage Juvenal Aruna Melan Soysa at Fort Magistrate Court on 25th January 2019. The person has been charged for not appearing before the SEC when he was summoned to record a statement with respect to certain transactions that […]
CINV and GUAR considering options to wind up The Sri Lanka Fund
Feb 05, 2019 (LBO) – Ceylon Guardian Investment Trust PLC (GUAR) and Ceylon Investment PLC (CINV) has decided to consider options of winding up The Sri Lanka Fund, an open-ended fund incorporated in the Cayman Islands, denominated in US dollars. The fund was relaunched in August 2010 under the management of Guardian Fund Management Limited (GFM) […]
‘s shareholding in JKH approaching 10%, stake valued at close to Rs20bn
February 5, 2019 (LBO) – Sri Lanka’s richest man, Harry Jayawardena, has increased his shareholding in Colombo Stock Exchange bellwether John Keells Holdings (JKH) to near 10%. The total value of his shareholding is now worth close to Rs20bn.As of December 31, 2018, Jayawardena’s Melstacorp PLC owned 8.4% of JKH. After the quarter ended, the […]
An insight into Sri Lanka’s economic behaviour: NTB
Jan 28, 2019 (LBO) – Elaborating on the ‘Insight into Sri Lanka’s Economic Behaviour’, executive vice president – treasury and investment banking at Nations Trust Bank, Indrajith Boyagoda shares his views on Sri Lanka’s current economic circumstances and the role of banking in this environment. “It is of significant importance that, the global economy is […]
Sri Lanka’s USD200mn development bond issue undersubscribed
Jan 25, 2019 (LBO) – The issue of Sri Lanka development bonds amounting to 200 million US dollars have been undersubscribed with only 182 million dollars of bids received from investors. [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2019/01/Press-Release-25.01.2019-E.pdf” title=”Press Release 25.01.2019 (E)”]
Fitch-rated frontier markets saw 13 positive, 6 negative rating actions in 2018
Jan 21, 2019 (LBO) – Fitch-rated frontier markets saw more positive than negative sovereign rating actions in 2018 with 13 positive rating actions compared to six negative actions, Fitch Ratings said. Out of the 30 Fitch-rated frontier markets, the majority were outlook changes and the mix of upgrades and downgrades was balanced at four each. However, […]
Foreign institutions dump over $ 100mn of Sri Lanka bonds to start 2019
January 18, 2019 (LBO) – Foreign institutional investors have continued to sell Sri Lanka’s bonds and stocks, even after Sri Lanka’s constitutional crisis has been resolved. Figures up until the 18th of January 2019 show Rs19bn (US$100mn) in net foreign selling out of Sri Lanka’s government bond markets. Equity markets showed net outflows of Rs2.3bn […]
Ailing rupee and price controls may lead to a shortage of milk powder: Advocata
Jan 17, 2019 (LBO) – A cup of tea is every Sri Lankan’s morning mantra. This might not be the case much longer as Sri Lanka may face a shortage of milk powder as several leading milk powder importers are reported to have taken a collective decision to suspend imports. The recent depreciation of the rupee […]
JKH buyback fully subscribed, Rs11bn worth of shares to be repurchased at 160
January 16, 2019 (LBO) – Shareholders have tendered approximately one hundred million shares of John Keells Holdings (JKH) into the company’s latest buyback offer. The company will purchase approximately seventy million of the shares tendered at a price of Rs160/share, constituting 5% of the total outstanding shares of the company. JKH will expend Rs11 billion […]