Category: Economy and Markets
Sri Lanka vehicle registration decline in Apr 2021
Total vehicle registrations for the month of April declined to 2,418 units from 3,556 units the previous month – the comparative month 12 months ago was zero due to the first lockdown, a new report shows. Data compiled by JB Securities equities research shows that April has many holidays and there was a semi lockdown in place […]
FCR recommends investors hold on to equity allocation & begin exiting beyond 8,000
Considering the fact that the market has already reached the 7,500 range, First Capital Research (FCR) recommends investors hold on to the equity allocation and begin exiting beyond 8,000. “Despite the significant risk in the system due to the uncertain economic environment, the higher liquidity in the system, and cheaper valuations due to healthy earnings, […]
Central Bank invites private sector to raise offshore funding; zero-cost swap facility available
Sri Lanka’s Central Bank with a view of encouraging foreign currency inflows to the country, invites the private sector to pursue avenues to raise offshore funding leveraging on its strengths, with the consent of the Finance Minister and in line with provisions of the Foreign Exchange Act. In this regard, to hedge the foreign exchange […]
Sri Lanka Investment Forum 2021 kicks off
Sri Lanka Investment Forum 2021 was inaugurated this morning by His Excellency the President Gotabaya Rajapakse on a virtual platform. Today’s proceedings also featured keynote addresses by Ali Sabry Minister of Justice, Ajith Nivard Cabraal, State Minister for Money and Capital Markets and State Enterprise Reform, Dr.P.B. Jayasundera, Secretary to the President, Sanjaya Mohottala Chairman […]
DSI enjoins infringer for sale of lookalike products
An action was filed by D. Samson & Sons (Private) Limited, through its legal representatives, Sudath Perera Associates for the infringement of its trademark in the Commercial High Court Of Colombo recently. Court issued an Enjoining order against Udawatta Durage Lalith, restraining him, his employees, agents, workers and clients and anyone claiming under him, directly […]
Our vision is to make Port City a key service hub in the region: President at SL Investment Forum
Sri Lanka has ambitious plans to double the national output from its current level to 8,000 dollars GDP per capita by 2030 and the country is also deeply committed to maintaining policy stability and consistency within a stable macroeconomic environment, President Gotabaya Rajapaksa said. Addressing the inauguration of the Sri Lanka Investment Forum 2021, he […]
VIDEO: Maggi, KitKat-maker Nestle in spot after internal paper is reported
The leading newspaper, Financial Times recently had cited an internal company presentation that designated more than 60% of Nestle’s core food and beverage products as unhealthy. The document, which was circulated among top executives this year, said that some Nestle products will never be healthy no matter how much they’re tweaked. Maggi & Kitkat maker […]
WindForce declares over 1 bn dividends with a strong performance
WindForce Limited, which listed on the CSE this year, displayed a strong performance for the year 2020/21. The company declared an interim dividend of LKR 1,013 million for 21/22, which corresponds to a dividend per share of 0.75 LKR, yielding a return of 4.7% to shareholders. Performance in 2021 will receive a boost from the […]
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Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL, A+(lka)/Stable) Sri Lanka rupee-denominated subordinated unsecured debentures a final national long-term rating of ‘A-(lka)’. The assignment of the final rating follows the receipt of documents conforming to information previously received. The final rating is in line with the expected rating assigned on 22 March 2021. The […]
No disruptions to daily lives: Extend assistance to maintain industries and development: President
President Gotabaya Rajapaksa says that the Governors and District Secretaries should personally intervene to maintain essential services and prevent any disruption to the lives of the people. The President said that despite the current situation, the country’s economy could not be allowed to collapse and that the contribution of all stakeholders was needed to overcome […]
Litro Gas Lanka purchases 25 acres to set up Oxygen Plant
As the country experiences an increasing need for oxygen to treat COVID-19 affected patients, the health authorities have conveyed to the Presidential Task Force that a greater need is likely to occur for oxygen. The companies supplying oxygen to the market at present are able to meet the current daily requirements for 90 metric tonnes. […]
SEC grants extension to Listed Companies to release financial statements
The Securities and Exchange Commission of Sri Lanka (SEC), having considered the contents of the letter dated 28th May 2021 of the Colombo Stock Exchange (CSE) focusing on the inability of Listed Companies to release the Annual Reports and the Financial Statements in terms of the Listing Rules of the CSE under the prevailing situation […]