Category: Economy and Markets
Sri Lanka to strengthen rupee to 129 in next two weeks: Finance Minister
June 23, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says the government will strengthen the rupee to 129/130 against the US dollar in the coming two weeks. “When we tookover the government it was at 133.25 rupees to the US dollar and now it is at 133.90 rupees,” Karunanayake told reporters Tuesday. “In two […]
Sri Lanka stocks close up 0.20-pct: JKH gains
Jun 23, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.20 percent for the second consecutive day with index heavy stocks showing gains, Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 14.31 points higher at 7,053.96 up 0.20 percent. The S&P SL20 closed 25.77 points higher at 3,938.46 higher at […]
Sri Lanka sells three billion rupees in 02 and 03 year bonds
June 23, 2015 (LBO) – Sri Lanka has sold three billion rupees of two and three year bonds after calling bids for two billion rupees of bonds, the state debt office said. The debt office on Tuesday sold 1.5 billion rupees of two year bonds maturing on 15 June 2017 at a weighted average yield […]
Sri Lanka’s BOI signs Rs24.58bn investments from Jan – May 2015
June 23, 2015 (LBO) – Sri Lanka’s Board of Investment said that it has signed 42 investment agreements worth 24.58 billion rupees with enterprises representing a vast range of sectors which reflect the growing diversification of Sri Lanka’s economic base and exports. The agreements includes foreign investment of 6,849 million rupees or 51 million US […]
Nestle Lanka welcomes government move to test Maggi: ITI report due Thursday
Jun 23, 2015 (LBO) – Nestle Lanka, a unit of a Swiss-based food group said, they welcomed the move by the government to test their popular brand Maggi for its lead content.“We welcome this move by the government to test the product and it will act as an assurance to us,” Bandula Egodage, Coporate Spokesperson, […]
Sri Lanka’s Serendib Hotels boosted by online sales
June 23, 2015 (LBO) – Serendib Hotels Plc, a unit of Sri Lanka’s Hemas group said the group revenue increase was supported by the growth of emerging markets and online bookings while occupancy level were up two percent. “A notable increase was observed in the volume of online bookings during the year, particularly from new […]
I am willing to serve Sri Lanka for few more years: Former CB Governor
June 23, 2015 (LBO) – Sri Lanka’s former Governor of the Central Bank, Ajith Nivard Cabraal says he is looking forward to use his knowledge and capabilities on behalf of the country. In a live interview broadcast through a local TV station, Cabraal revoked his past experiences.“I worked for the private sector for 33 years […]
Key public enterprises should be managed through an independent authority: Minister
June 23, 2015 (LBO) – Sri Lanka’s Power and Energy Minister Champika Ranawaka says that the CPC, CEB, Port and Airport should be managed through an independent authority.“Key public enterprises, namely, Ceylon Petroleum Corporation, Ceylon Electricity Board, Port and Airport should be run through an independent authority,” “However this proposal has not got the required […]
Sri Lanka obtains Rs 684 bn borrowings for the 4 months to April 2015
June 22, 2015 (LBO) – Sri Lanka’s new administration has obtained 684.2 billion rupees gross borrowings for the first four months to April 2015, the cabinet spokesperson said last week. The approved amount of loans to be taken in the year 2015 is 1,780,000 million or 1780 billion.According to the data submitted by Ministry of […]
Sri Lanka stocks close higher 0.06-pct
Jun 22, 2015 (LBO) – Sri Lanka’s stocks closed higher at 0.06 percent with index heavy stocks showing gains, Monday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 4.50 points higher at 7,039.65 up 0.06 percent. The S&P SL20 closed 6.41 points higher at 3,912.69 up 0.16 percent. Turnover was 489 million rupees, down […]
‘s state-owned enterprises in commercial business skew the market: Mano
June 22, 2015 (LBO) – Sri Lanka State-Owned Enterprises in commercial business have an unfair advantage over other private companies which leads to a skewed market, a private enterprise leader said. This problem is compounded when the public is not aware of the situation due to an unavailability of information, he added. “ In my […]
Watawala Plantation share purchase by T Sinthilverl
Jun 22, 2015 (LBO) Sri Lanka’s Watawala Plantations in a stock exchange filing said that T Sinthilverl has purchased 457,301 shares of Watawala Plantations on 19, June for a price ranging 22.50 – 23.00 rupees. “This increases his holding to 23,788,134 shares,” the statement said.His holding in the share capital has now increased to 10.05 […]