Category: Economy and Markets
Sri Lanka’s CSE to increase stakeholder engagement through Social Media
Mar 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) today announced the launch of Facebook and LinkedIn Pages to ensure greater engagement with stakeholders through social media channels, in its endeavour to broad-base investment amongst the masses.“It is vital that investment is broad-based and retail investors both within and outside of Colombo have […]
Sri Lanka’s Hemas Holdings to expand its ownership and liquidity
Mar 03, 2015 (LBO) – Sri Lanka’s diversified conglomerate Hemas Holdings is to broad base its ownership and raise liquidity after major shareholders of the firm opt out a proposed rights issue.The company has been informed of the decision taken by the major shareholders to allow other investors to become shareholders or to increase their […]
Sri Lankan loans based on consensus, says china: Report
Mar 03, 2015 (LBO) – Sri Lanka’s loans obtained from China were based on consensus through consultations between the two countries, quoting Chinese foreign ministry, Xinhua news agency said. The news published by Xinhua, the official press agency of China is reproduced below. BEIJING, March 2 (Xinhua) — China’s loans to Sri Lanka were based […]
’s Central Bank removes 5 pct- policy rate as credit picked up
Mar 03, 2015 (LBO) – Sri Lanka Central Bank removed 5.0 percent Standing Deposit Facility rate, given the signs of sustained increase in credit flows to the private sector, the regulator said in a statement. Private sector credit growth picked up towards the latter part of 2014 recording an increase of 223.9 billion rupees in […]
Sri Lanka Treasury bill yields up in March 03rd: Central Bank
Mar 03, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up on Tuesday’s auction with the 12-month yield increased to 6.99 percent from 6.13 percent in the last auction, data from the state debt office showed. 6-month yield was also up at 6.98 percent and 1,230 million rupees were accepted from 9,190 million rupees. […]
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Mar 02, 2015 (LBO) – Sri Lanka’s National Development Bank PLC’s proposed senior debentures of up to 7.5 billion rupees which will be used to refinance maturing multilateral funding has been rated an expected National Long-Term Rating of ‘AA-(lka)(EXP)’ by Fitch rating Lanka, a media release said. The debentures which will have a tenor of […]
Sri Lanka construction sector eyed by Turkish investors
Mar 02, 2015 (LBO) – Sri Lanka’s construction sector is a key area of interest for Turkish companies scouting for investment opportunities, Turkey ambassador to Colombo Iskender Okyay said.“Many Turkish companies are interested in Lankan infrastructure projects, amongst them are some leading Turkish firms,” said Ambassador Okyay. “Specially, Turkey is internationally reputed for its construction […]
’s President cancels 16 foreign firms mining licenses
Mar 02, 2015 (LBO) – Sri Lanka’s new president has cancelled mining licenses which has been issued by the former regime to 16 foreign companies to engage in gem-mining a statement said.The Indian Ocean Island has 70 out of the 200 known gem minerals and has long been known as a rich source of stones, […]
Sri Lanka raises Rs10bn from 30-year bonds
Feb 27, 2015 (LBO) – Sri Lanka’s raised 10,058 million rupees from a 30-year bond which yield 11.73 percent at an auction today, data from the state debt office showed. Sri Lanka offered a billion rupees of 30-year bonds and had received bids of 20.708 million rupees. The bond was quoted in the secondary market […]
Sri Lanka JKH to terminate Fitch rating agreement
Feb 27, 2015 (LBO) – Sri Lanka’s John Keells Holdings has informed Fitch Ratings Lanka, a rating agency that it will terminate its rating agreement with the company with effect from 27 March 2015, the company said in a filing to stock exchange. John keels also said that it would consider an international rating when […]
Sri Lanka’s tax on liquor manufacturers to boost market share of Distilleries Corp: Fitch
Feb 27, 2015 (LBO) – Sri Lanka’s market leader in alcoholic beverage production Distilleries Corporation of Sri Lanka (DIST) would be able to expand its market share due to the large monthly tax imposed on liquor manufactures which ultimately discourages new players and smaller players, a rating agency said. Sri Lanka’s new administration proposed a […]
Sri Lanka raises Rs10bn from 30-year bonds
Feb 27, 2015 (LBO) – Sri Lanka’s raised 10,058 million rupees from a 30-year bond which yield 11.73 percent at an auction today, data from the state debt office showed.Sri Lanka offered a billion rupees of 30-year bonds and had received bids of 20.708 million rupees. The bond was quoted in the secondary market at […]