Category: Economy and Markets
Sri Lanka’s IOC unit records 1.06 billion loss in March 2015
May 19, 2015 (LBO) – Lanka IOC, a unit of Indian Oil Company reported 1.06 billion rupees loss in March 2015 against 722 million rupees profit reported last year, interim accounts showed. In the year to March profits were down to 1.8 billion rupees from 4.8 billion rupees a year earlier. The firm reported negative […]
Sri Lanka stocks close up at 0.15-pct
May 19, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.15 percent with gains seen in some of the banking and conglomerate stocks, brokers said. The Colombo benchmark All Share Price Index closed 11.18 points higher at 7,266.20 up 0.15 percent. The S&P SL20 closed 9.15 points higher at 4,046.83 up 0.24 percent. Turnover […]
Sri Lanka sells Rs3.3bn in 09 year bonds; 07 year bonds rejected
May 19, 2015 (LBO) – Sri Lanka has sold 3.29 billion rupees of nine year bonds after calling bids for two billion rupees of bonds, the state debt office said. The debt office on Tuesday sold the bond maturing on 15 March 2025 at weighted average yield of 9.01 percent. The bond has received 14.67 […]
‘s Debt assigned final ratings: Fitch
May 19, 2015 (LBO) – Fitch Ratings Lanka has assigned DFCC Vardhana Bank PLC’s proposed Basel II-compliant senior debentures a final National Long-Term Rating of ‘AA-(lka)’ and proposed Basel II-compliant subordinated debentures a final National Long-Term Rating of ‘A+(lka)’, the rating agency said in a press release. The Media Release Reproduced Below:- The final ratings […]
‘s Haycarb profit margins squeezed by high charcoal prices
May 19, 2015 (LBO) – Sri Lankan coconut shell-based activated carbon manufacture Haycarb’s March 2015 quarter profit after tax rose 18.33 percent to 279 million rupees from 236 million rupees last year, the interim accounts filed with the stock exchange revealed. “The increase in price of the primary raw material, coconut shell based charcoal impacted […]
‘s tertiary education sector needs more private investments: Economist
May 19, 2015 (LBO) – Sri Lanka’s public sector dominated education sector needs more private investments coming in through local or foreign channels to bridge the tertiary education gap, a senior economist said.“Sri Lanka will have to seriously consider bringing in the private sector to bridge tertiary education gap in the country with the new […]
Sri Lanka stocks close lower at 0.05-pct
May 18, 2015 (LBO) – Sri Lanka’s stocks closed lower at 0.05 percent with the prevailing political uncertainty affecting investor sentiment, brokers said. The Colombo benchmark All Share Price Index closed 3.65 points lower at 7,255.02 down 0.05 percent. The S&P SL20 closed 11.94 points lower at 4,038.74 down 0.29 percent. Turnover was 1.1 billion […]
Sri Lanka Singer Plc to issue a debenture
May 18, 2015 (LBO) – Sri Lanka, Singer PLC, is to issue 20,000,000 rated senior unsecured redeemable debentures at an issue price of 100 rupees per share, the company said in a filing to Colombo Stock Exchange.The filing also said that the Colombo Stock Exchange has approved in principal an application for listing the debt […]
Sri Lanka’s economic growth losing steam: former Central banker
May 18, 2015 (LBO) – Sri Lanka’s economy is at cross road and is losing steam due to the lack of a resource base and external sector vulnerability, an ex-Central Banker said. “No government would be able maintain high levels of economic growth continuously like Sri Lanka, unless it has a massive source of resources,” […]
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May 15, 2015 (LBO) – Sri Lanka Fitch Ratings has assigned Central Finance Company Plc’s issue of senior secured redeemable debentures of up to 3 billion rupees, a final National Long-Term Rating of ‘A+(lka)’. The Media Release reproduced below :- The final rating is the same as the expected rating assigned on 8 April 2015, […]
Sri Lanka wants investor support to transform economy, Promissed to ease of doing business :Ravi Karunanayake
May 15, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that the government is seeking investor support to develop the Island’s economy and assured it’s full support for improving the ease of doing business. “I’m sure the environment is rather buoyant for investors to come in. This is the time the Prime Minister […]
Sri Lanka stocks close up at 0.3-pct
May 15, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.30 percent with finance sector and some index heavy stocks trading actively, brokers said. The Colombo benchmark All Share Price Index closed21.80 points higher at 7,258.67 up 0.30 percent. The S&P SL20 closed 6.54 points higher at 4,050.14 up 0.16 percent. Turnover was 1.08 […]