Category: Economy and Markets
Sri Lanka’s CB rejects claims of additional costs when issuing T-Bonds through public auctions
Aug 12, 2015 (LBO) – Sri Lanka’s Central Bank has issued a clarification on the issue of Treasury Bonds through public auctions rejecting the charge of additional costs. The Central Bank on Wednesday said they have commenced issuing Treasury bonds through public auctions from the auction of 30 year Treasury bonds held on 27 February, […]
Sri Lanka’s six and twelve months Treasury bill yields up
Aug 12, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with the 12-month yield up 09 basis points to close at 6.63 percent, data from the state debt office showed.6-month yield was up 07 basis points to close at 6.57 percent. The debt office of the Central Bank has not […]
Sri Lanka should export or should be ready to perish: Harsha De Silva
Aug 12, 2015 (LBO) – Sri Lanka has no way to sustain economic growth without exploring the international market and export more value added innovative products and services, Deputy Economic Policy Minister Harsha de Silva said.“We have messed up our priorities. Either we export or perish,” de Silva said. “That is the simple factor. We […]
Sri Lanka’s Nestlé unit net up 33-pct with revenue increase
Aug 12, 2015 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group said profits rose 33 percent to 1.3 billion rupees in the June 2015 quarter from a year earlier. The firm reported earnings of 24.18 rupees per share for the quarter against 18.16 rupees reported a year earlier. In the six months […]
Sri Lanka’s Fitch affirms ratings of seven Finance Companies
Aug 11, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the ratings of People’s Leasing and Finance, Central Finance Company, Melsta Regal Finance, Siyapatha Finance, Senkadagala Finance, AMW Capital Leasing And Finance and Singer Finance. The full text of the announcement is reproduced below. Fitch Ratings-Colombo/Singapore-11 August 2015: Fitch Ratings has affirmed the ratings […]
Sri Lanka needs reforms to bloated govt sector to drive growth: Eran
Aug 11, 2015 (LBO) – Sri Lanka’s bloated state sector, which comprises 1.5 million employees who are paid from ordinary people’s money, needs reforms to drive growth, a minister said.“The problem in this county is not with the institutions, but with the human resources,” Deputy Minister of Highways, Higher Education and Investment Promotion, Eran Wickramaratne […]
Sri Lanka stocks close up 1.2-pct
Aug 11, 2015 (LBO) – Sri Lanka’s stocks closed up 1.20 percent on Tuesday, with gains seen across the board on hopes of political stability after the August 17 parliamentary elections and better corporate earnings in the April-June quarter, brokers said. The Colombo benchmark All Share Price Index closed 88.87 points higher at 7,466.81 up […]
China devalues yuan by 1.9 pct against dollar
Aug 11, 2015 (LBO) – Calling it a one-time fix, China’s central bank devalued its tightly-controlled currency, the yuan, by 1.9 percent on Tuesday. The midpoint for the yuan is now set at 6.2298 against the dollar, compared with 6.1162 yuan on Monday, the lowest rate for the yuan against the US dollar in almost […]
Sri Lanka’s Hayleys Q1 profits up 42 pct to Rs522mn
Aug 11, 2015 (LBO) – Profits at Sri Lanka’s diversified Hayleys group rose 42.5 percent to 522 million rupees in the June 2015 quarter, interim accounts showed. The firm reported earnings of 6.97 rupees for the quarter 2015 compared to the last year earnings of 4.89 rupees on profits of 366 million rupees.The group revenue […]
Aitken Spence net down 44-pct amid energy sector losses and downturn in Maldives
Aug 10, 2015 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power generation, said profits in the June 2015 quarter dropped 44 percent to 420 million rupees from a year earlier. The group reported earnings of 1.04 rupees per share for the quarter, against the 1.84 rupees recorded in […]
Sri Lanka stocks close higher 0.10-pct
Aug 10, 2015 (LBO) – Sri Lanka’s stocks closed higher 0.10 percent on Monday, with gains in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed 7.34 points higher at 7,377.94 up 0.10 percent. The S&P SL20 closed 7.14 points higher at 4,104.36 up 0.17 percent. Turnover was 1.3 billion […]
Sri Lanka’s Balangdoa Plantations reports Rs75mn loss
Aug 10, 2015 (LBO) – Sri Lanka’s Balangoda Plantations, a unit of listed Distilleries Corporation, made a loss of 75 million rupees in the quarter to June, compared with the 57 million rupee profit made in the same quarter in 2014, hit by global price falls in rubber and tea, interim accounts showed. The firm […]