Category: Economy and Markets
Sri Lanka calls for expat funds in Swiss accounts: Ravi K
Oct 02, 2015 (LBO) – The government encourages Sri Lankan expats to bring back undeclared funds in Switzerland, with no questions asked, the Finance Minister said. “There are about 10 to 15 billion dollars held outside the country. We are inviting Sri Lankan expatriates to bring their money and we can offer a considerable interest […]
Sri Lanka slaps 100-pct margin on car LCs: Finance Minister
Oct 02, 2015 (LBO) – Sri Lanka will impose a 100 percent margin deposit on car import LCs with effect from today, Finance Minister Ravi Karunanayake told at a media briefing held in Colombo.According to data Sri Lanka’s expenses on vehicle imports has doubled to 744 million US dollars for year 2015 compared to 374 […]
PTL Watch: Foreign outflow of USD1.15 bn from Sri Lanka govt bonds
[pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/10/working-ptl-02.10.2015.pdf%22]
Sri Lanka’s Renuka Foods to acquire Shaw Wallace Ceylon through a share swap
Oct 02, 2015 (LBO) – Sri Lanka’s Renuka Foods is to acquire Shaw Wallace Ceylon limited through a share swap agreement to save cost and improve operational efficiencies, the company said in a stock exchange filing. A share swap is a tactic use during an acquisition of a company, paying shares rather than with cash. […]
Sri Lanka stocks up 0.3-pct
Oct 02, 2015 (LBO) – Sri Lankan stocks closed up 0.35 percent on Friday with yesterdays momentum continues as gains seen in the index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed up 25.06 points at 7,105.54 higher 0.35 percent. S&P SL20 closed 14.73 points higher at 3,851.06 up 0.38 percent. […]
Sri Lanka’s plantation ministry to build about 30 tea outlets for local market
Oct 02, 2015 (LBO) – Sri Lanka’s plantation ministry is planning to build 20 – 30 tea houses around Sri Lanka to sell export quality tea to local market who drinks dust tea being a nation of tea growers. “We have spoken about a concept that we wanted to introduced to the tea board,” Navin […]
Sri Lanka stocks up 0.4-pct, healthy foreign inflow
Oct 01, 2015 (LBO) – Sri Lankan stocks closed up 0.42 percent on Thursday with foreign investors activity rose to record the highest foreign participation after 17 months, brokers said. The Colombo benchmark All Share Price Index closed up 29.61 points at 7,080.48 higher 0.42 percent. S&P SL20 closed 10.18 points higher at 3,836.33 up […]
PTL Report: 3-Year bond rises 30 basis points
[pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/10/Copy-of-PTL-report-1.pdf%22]
Sri Lanka’s Bank of Ceylon debenture oversubscribed
Oct 01, 2015 (LBO) – Sri Lanka’s state owned Bank of Ceylon said a listed debt offer for eight billion rupees had been oversubscribed Thursday and is closing on the same day.The bank offered 50 million debentures at 100 rupees each with an option to issue 30 million further.The basis of allotment is to be […]
“Megapolis” Sri Lanka’s road to better sustainable development: Minister
Oct 01, 2015 (LBO) – Mega cities are important to transform Sri Lanka into a smart country and Colombo will remain as the epicenter for economic activities, Minister Champika Ranawaka said.“The proposed Megapolis concept is now underway and will span from Negombo to Beruwela and the Colombo city will be functioning as the epicenter,” Megapolis […]
Sri Lanka stocks down 0.5-pct: JKH losses
Sep 30, 2015 (LBO) – Sri Lankan stocks closed down 0.49 percent on Wednesday with losses in index heavy John Keells Holdings, brokers said. The Colombo benchmark All Share Price Index closed down 34.51 points at 7,050.87 lower 0.49 percent. S&P SL20 closed 32.46 points lower at 3,826.15 down 0.84 percent. Turnover was 1.3 billion […]
Sri Lanka not actively pursuing IMF option: CB Governor
Sept 30, 2015 (LBO) -Sri Lanka is not actively pursuing funding from the International Monetary Fund, the Central Bank Governor Arjuna Mahendran told Lanka Business Online. “The IMF is always available. I wouldn’t say that was something we were actively pursuing. There is no need for it as we have sufficient reserves,” he said. “But […]