Category: Economy and Markets
JKL profit falls 20 pct in three months to June
July 28, 2015 (LBO) – Sri Lanka’s John Keells PLC (JKL.N), the tea and rubber broking unit of John Keells Holdings, announced a 20 percent drop in net profits in the first quarter, in provisional results released to the Colombo Stock Exchange. The company said profit after tax fell to 54.2 million rupees from 67.7 […]
Sri Lanka stocks close up 0.2-pct
July 27, 2015 (LBO) – Sri Lanka’s stocks closed up 0.19 percent on Tuesday, with index heavy stocks making gains, brokers said. The Colombo benchmark All Share Price Index closed 13.84 points higher at 7,261.07 up 0.19 percent. The S&P SL20 closed 19.33 points higher at 4,087.00 up 0.48 percent. Turnover was 1.09 billion rupees, […]
Sri Lanka’s Treasury bill yields up across maturities: Central Bank
July 28, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up across maturities at Tuesday’s auction with 12-month yield up 09 basis points to close at 6.48 percent, data from the state debt office showed. 3-month yields were up 03 basis points to close at 6.28 percent while 6-month Treasury bill yields were up […]
Sri Lanka’s Carson says palm oil market seems promising despite crude oil price drop
July 28, 2015 (LBO) – The palm oil industry looks promising and demand should grow in future despite the price drop of crude oil and maturing trees, according to Sri Lanka’s Carson Cumberbatch group with plantations in Malaysia and Indonesia. However in spite of positive expectations, Carson’s palm oil prices experienced much volatility during the […]
Sri Lanka stocks close down 0.3-pct
July 27, 2015 (LBO) – Sri Lanka’s stocks closed down 0.30 percent on Monday following a nine week high, brokers said. The Colombo benchmark All Share Price Index closed 21.82 points lower at 7,247.23 down 0.30 percent. The S&P SL20 closed 3.98 points lower at 4,067.67 down 0.10 percent. Turnover was 1.08 billion rupees, down […]
Sri Lanka sells Rs50.64bn in three and six year treasury bonds
July 27, 2015 (LBO) – The issue of treasury bonds amounting to 40.00 billion rupees have been oversubscribed with 156.79 billion rupees of bids received from investors.The Central Bank has accepted 27.63 billion rupees of 03 years and eleven months bonds maturing on 01 July 2019 at a weighted average yield rate of 8.19 percent. […]
Sri Lanka sells USD165.25mn of one and two year development bonds
July 27, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 50 million US dollars have been oversubscribed with 172.50 million US dollars of bids received from investors. The central bank has accepted 110.00 million US dollars of one year and three months bonds at a floating rate of weighted average margin over […]
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July 27, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned Pan Asia Banking Corporation PLC’s issue of senior unsecured debentures of up to 4.0 billion rupees, a final national long-term rating of ‘BBB(lka)’, a statement said.The said debentures will have maturities of three and four years with a combination of fixed-rate and floating-rate coupons, […]
China stocks plunge over 8-pct, largest intraday loss since 2007
July 27, 2015 (LBO) – China’s benchmark Shanghai Composite index has plunged over 8 percent recording its largest intraday loss in more than eight years amid weak economic data, foreign media reported.The index plunged 8.48 percent to 3,725.5 in mid day trade and it is the second straight day of losses and worst daily percentage fall since […]
Sri Lanka’s SEC says transparency of information is the key for development
July 27, 2015 (LBO) – Sri Lanka’s Securities Exchange Commission says that transparency enhancement leads to improve the performance of companies and enables businesses in becoming magnets for inward investment and more resilient in the face of future challenges. “Markets move on information,” Thilak Karunaratne, Chairman, Securities & Exchange Commission of Sri Lanka said. “The […]
Fitch Places Ceylon Income Fund on Rating Watch Negative
July 27, 2015 (LBO) – Sri Lanka’s Fitch Ratings has placed the National Fund Credit Quality Rating assigned to the Ceylon Income Fund of ‘A(lka)’ on rating watch negative as there is uncertainty regarding the credit quality of a significant portion of the funds’ underlying assets, a statement said. The rating agency said that this […]
Swisstek profit +25% in 3 months to June
July 27, 2015 (LBO) – Sri Lankan based Swisstek (Ceylon)’s group net profit showed a 25 percent increase to 28.9 million rupees for the three months ended June 2015, interim report said.The manufacturer of tile grout, tile mortar and decorative pebbles said revenue rose 44 percent to 509 million rupees from 354 million rupees in […]