Category: Economy and Markets
Sri Lanka sells 05, 08 and 15 year treasury bonds at 9.65–10.96-pct
Sep 08, 2015 (LBO) – The issue of treasury bonds amounting to 10 billion rupees have been oversubscribed with 60.3 billion rupees of bids received from investors.The Central Bank has accepted 3.7 billion rupees of 04 year and 08 month bonds maturing on 01 May 2020 at a weighted average yield rate of 9.65 percent. […]
Stocks close down 0.3-pct; seven week low
Sep 08, 2015 (LBO) – Sri Lankan stocks closed down 0.35 percent on Tuesday on a seven week low with the losses in John Keells Holdings, brokers said. The Colombo benchmark All Share Price Index closed down 25.24 points at 7,122.46 lower 0.35 percent. S&P SL20 closed 16.96 points lower at 3,914.04 down 0.43 percent. […]
Sri Lanka’s port city project still on hold, discussion positive says CHEC
Sep 08, 2015 (LBO) – The builders of Sri Lanka’s Chinese-funded port city project say discussions are still ongoing and they await a positive reply from the government after the suspension of work. “We are actually at the discussion level,” Liang Thow Ming, Chief Sales and Marketing Officer, of CHEC Port City Colombo (Pvt) Ltd […]
ICRA Lanka assigns BBB rating for EAP Broadcasting
Sep 08, 2015 (LBO) – ICRA Lanka Limited has assigned an Issuer rating of BBB for EAP Broadcasting Company with a stable outlook on the rating. The full text of the rating is reproduced below. ICRA Lanka assigns [SL]BBB rating with Stable outlook to EAP Broadcasting Company Limited ICRA Lanka Limited, a wholly owned subsidiary of […]
‘s ruble collapse tied to energy prices, volatility to continue
Sept 08, 2015 (LBO) – Russia’s ruble has lost 45 percent of its value this year tied to collapse in oil prices, and volatility is likely to continue, analysts say. With Brent crude oil prices plunging more than 50 percent, the world’s biggest energy exporter has struggled to maintain its currency. 12 months ago, the […]
Exercising of JKH 2015 warrants to commence from 29 Sept
Sep 07, 2015 (LBO) – Sri Lanka’s conglomerate John Keells Holdings on Monday said the exercising of 2015 warrants of the company will commence from 29 September till the expiration date of 12 November 2015.The purchase price of a warrant is 161.87 rupees per ordinary share, and each warrant shall entitle the warrant holder to […]
Sri Lanka’s first smart city to be Kandy
Sep 07, 2015 (LBO) – Sri Lanka’s central city Kandy will be developed as the first ‘Smart City’ in the island, Rauf Hakeem, new Minister of Town Planning and Water Resources said in a media report. “India under a plan of the Indian Prime Minister Narendra Modi has already begun forming smart cities and the […]
Sri Lanka stocks close down 0.9-pct
Sep 07, 2015 (LBO) – Sri Lankan stocks closed down 0.91 percent on Monday for the second consecutive session amid notable depreciation in rupee with losses across the board, brokers said. The Colombo benchmark All Share Price Index closed down 65.41 points at 7,149.70, lower 0.91 percent. S&P SL20 closed 26.83 points lower at 3,931.00 […]
Orient Finance gets Central Bank approval for listing, IPO
Sept 07, 2015 (LBO) – Orient Finance PLC says the Central Bank of Sri Lanka has granted it approval to list shares on the Colombo Stock Exchange.The company said the listing would be by way of an Initial Public Offering, subject to approval from the Colombo Stock Exchange.Orient Finance was formerly known as Bartleet Finance.
Sri Lanka foreign reserves declined to USD6.4bn in Aug
Sep 07, 2015 (LBO) – Sri Lanka’s foreign reserves had declined to 6,466 million dollars by end August 2015, down from 6,887 million in July, Central Bank data showed.Foreign reserves in August is down 29 percent from 9,185 million dollar in August 2014.Sri Lanka received 1.1 billion dollars from the Reserve Bank of India under a […]
Depreciation will help some equity sectors, ease uncertainty: Bartleet Religare
Sept 06, 2015 (LBO) – Sri Lanka’s depreciation last week will help export-related stocks and banks listed on the market, Bartleet Religare Securities said. From a foreign investors’ point of view, the depreciation takes away uncertainty that has been weighing on the market. “Foreign investors saw the devaluation coming and some did exit. Others didn’t […]
Foreign holding of Sri Lanka govt securities falls during week
Sept 05, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors reduced to 350 billion rupees in the week to September 02, from 375 billion rupees in the previous week, information from the central bank showed.Foreign investors held 457 billion rupees worth of government securities at the beginning of the year. […]