Category: Economy and Markets
Stock markets fall most in 4 Years on worries about China
Aug 22, 2015 (LBO) – International markets took a beating on Friday on worries about China’s economy. The Dow Jones Index fell 3.1 percent to finish at 16,459 points. The market is down 10 percent from its all-time high in May after its 1,000 point drop this week. This has been the dow’s worst week […]
Ceypetco To
22 Aug, 2015 (LBO) – Sri Lanka’s Ceylon Petroleum Corp will seek to, a report said.“There has been a change in the refinery process and it’s now more profitable for (Ceypetco) to,” a source told Reuters.“There is a higher yield of value-added oil products like middle distillates and gasoline and the sulphur is low.” Sri […]
Sri Lanka stocks close up 0.3-pct
Aug 21, 2015 (LBO) – Sri Lankan stocks closed up 0.29 percent on Friday with index heavy stocks making gains, brokers said. The Colombo benchmark All Share Price Index closed up 21.35 points at 7,471.17 up 0.29 percent. The S&P SL20 closed 3.09 points higher at 4,148.68 up 0.07 percent. Turnover was 959 million rupees, […]
Sri Lanka to prioritize food production, environment and drug eradication in first cabinet meeting
Aug 21, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena says he will present proposals for national programs to be implemented for local food production, environmental preservation and drug eradication, at the first meeting of the new cabinet.According to the proposal, local food production programmes which make the country self-sufficient will be implemented in several […]
Asia Capital Q1 loss lower at Rs92 million
Aug 21, 2015 (LBO) – Sri Lanka’s financial services firm Asia Capital PLC reported a loss of 92 million rupees for the first quarter to June, down from a loss of 120 million rupees in the same quarter last year, in interim results released to the Colombo Stock Exchange.Annual revenue rose to 1.6 billion rupees […]
Sri Lanka’s exports declined 4.2 pct in June while imports up: Central Bank
Aug 21, 2015 (LBO) –Sri Lanka’s exports earnings recorded a decline of 4.2 per cent, year-on-year, to 944 million US dollars in June 2015, led by lower earnings from tea, textiles and garments, rubber products and seafood exports.Total imports rose 13.5 percent to 1.33 billion dollars led by imports of vehicles for personal usage and […]
Sri Lanka stocks close down 0.6-pct
Aug 20, 2015 (LBO) – Sri Lankan stocks closed down Thursday with volatility returning to the market as it lost steam amid on-going discussions among the two major political parties to form a national government, brokers said. The Colombo benchmark All Share Price Index closed down 48.96 points at 7,449.82 down 0.65 percent. The S&P […]
Sri Lanka’s Browns & Co plans tourism industry expansion
Aug 20, 2015 (LBO) – Sri Lanka’s household goods retailer Brown & Company wants to build two hotels in Maldives and expand from its current 308 operational rooms to approximately 1,000 in the near future, the company said. “As the tourism industry continues to grow rapidly, Browns will partner by contributing approximately 1,000 rooms in […]
Softlogic net surges 35 pct on ICT, retailing post-ODEL acquisition
Aug 20, 2015 (LBO) – Sri Lanka’s Softlogic Holdings PLC, with diversified interests, reported a 35 percent rise in net profit to 304 million rupees for the three months to June, on revenues of 13 billion rupees, driven by stronger ICT and retailing activities. Earnings per share was 0.11 rupees for the quarter, up from […]
Sri Lanka’s Janashakthi Insurance to raise Rs 3.3bn through rights issue
Aug 20, 2015 (LBO) – Sri Lankan insurance player Janashakthi is to raise 3.3 billion rupees by way of a rights issue, the company said in a stock exchange filing. Subject to the necessary approvals, the company is to issue 181.5 million ordinary shares at 18.50 rupees each in the ratio of one for every […]
Sri Lankan cricketer Sangakkara new Brand Ambassador for anti-drug crusade
Aug 19, 2015 (LBO) – Sri Lanka’s legendary cricketer Kumar Sangakkara has been appointed as the brand ambassador of the National Dangerous Drugs Control Board on Wednesday at the President’s Official Residence.Expressing his views, Sangakkara said that he will extend every possible support to eradicate the drug menace from society which destroys the lives of […]
Sri Lanka stocks close flat after polls: 30 week high
Aug 19, 2015 (LBO) – Sri Lankan stocks closed flat on Wednesday after parliamentary elections results were announced with the ruling United National Party plegding to form a national government, brokers said. The Colombo benchmark All Share Price Index closed flat at 7,498.78 and the S&P SL20 closed 6.60 points higher at 4,164.31 up 0.16 […]