Category: Economy and Markets
Sri Lanka’s NDB posts Rs1.6bn profits; 30-pct YoY growth
May 15, 2015 (LBO) Sri Lanka’s National Development Bank PLC reported 1, 558 million rupees of profit after tax in the first quarter of 2015 up 30 percent compared to the same period 2014, interim report showed.The Bank’s total operating income before impairment charges for loans and other losses and operating expenses grew by 18 […]
Sri Lanka to boost economic ties with London
May 15, 2015 (LBO) – Lord Mayor of the City of London, Alderman Alan Yarrow, is due to lead a business delegation to Sri Lanka to strengthen economic ties and boost profession links between the two cities, the British High Commission said.“The Lord Mayor of the City of London, Alderman Alan Yarrow, is to lead […]
Sri Lanka’s 20A will help resolve disparities in development and growth: Minister
May 15, 2015 (LBO) – Sri Lanka’s proposed electoral reforms will allow better representation at grass root level which can help solve disparities in terms of development and growth within Provinces, a Minister said.“The 20 amendment to the constitution hopes to put in place electoral reforms that will bring better representation at grass root level,” […]
‘s economic growth to remain at 7.5-pct in 2015: ESCAP
May 14, 2015 (LBO) – Sri Lanka’s will maintain high growth rate of 7.5 percent in 2015 on continued strength in private consumption, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) said. “Growth is expected to remain at the high rates of 7.5 percent in 2015 and 7.6 percent in […]
Sri Lanka’s CSE turnover crosses Rs5bn during mid-day trade boosted by Ceylinco deal
May 14, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange crossed the five billion rupees turnover mark during mid-day trade with a large block trade reported at Ceylinco Insurance, brokers said.Over 2.1 million shares of Ceylinco Insurance at 1,602.00 rupees per share were traded through SMB Securities with over 3.5 billion rupees added to the […]
‘s expansion plan
May 14, 2015 (LBO) – Sri Lanka’s Hemas Holdings said that it successfully completed the rights issue raising 4.1 billion rupees of new capital to finance its expansion plans in healthcare and personal care.“We are working hard on achieving our vision of being the best at enriching lives through our activities in healthcare, personal care, […]
Sri Lanka Treasury bill yields drop
May 13, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down across maturities at Wednesday’s auction with 6 and 12-month yields dropped by 0.04 basis points, data from the state debt office showed.6-month bill was closed at 6.22 percent while 12-month closed at 6.31 percent. 3-month yield was also dropped by 0.02 basis points […]
Sri Lanka stocks close down at 0.2-pct
May 13, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.19 percent with banking sector and some index heavy stocks recording losses, brokers said. The Colombo benchmark All Share Price Index closed 13.56 points lower at 7,245.05 down 0.19 percent. The S&P SL20 closed 12.71 points lower at 4,060.85 down 0.31 percent. Turnover was […]
”’ final rating
May 13, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned Singer’s unsecured redeemable debentures issue of up to 3 billion rupees a final national long term rating of ‘A-(lka)’. The final rating is the same as the expected rating assigned on 20 April 2015, and follows the receipt of documents conforming to information already […]
Ceylon Tobacco sales up 11-pct on increase of disposable income: Interim Report
May 13, 2015 (LBO) – Sri Lanka’s Ceylon Tobacco Company’s sales volumes increased 11 percent during the quarter which could be attributed to a higher level of consumer confidence and an increase in disposable income, the company said in its interim report. “During the first quarter we continued to see a volume growth in the […]
Sri Lanka Business Chambers welcome govt’s initiative of ease of doing business
May 13, 2015 (LBO) – The Joint Business Chambers of Sri Lanka welcome the initiative taken by the Ministry of Finance to engage in a series of discussions with the public institutions and private sector to address the issues concerning the improvement of Sri Lanka’s Ease of Doing Business Ranking, which now ranked at 99, […]
Sri Lanka to be on par with regional CDS in next 3 yrs: CDS head
May 13, 2015 (LBO) – Sri Lanka’s Central Depository System (CDS) is to be transformed into a developed depository equal with other depositories in the Asian region over the next three years, CDS chairman Vajira Kulatilaka said.Kulatilaka who is also the chairman of Colombo Stock Exchange said the CDS lagged behind in the past two […]