Category: Economy and Markets
US to test Nestlé’s Maggi after product pulled from Indian shelves
June 13, 2015 (LBO) – United States Food and Drug Administration to test Maggi noodles, which was pulled out from Indian shelves, last week foreign media reported.The Nestle India faced a troublesome period after Indian authorities claimed to have established that Maggi noodles contains excessive levels of lead in MAGGI noodles.Nestle India exports Maggi noodles […]
Sri Lanka sells Rs15 bn in 07 and 09 year bonds; rupee falls to record low
June 12, 2015 (LBO) – Sri Lanka has sold 15 billion rupees of seven and nine year bonds after calling bids for 12 billion rupees of bonds, the state debt office said.The debt office on Friday sold 5.35 billion rupees of seven year bonds maturing on 01 October 2022 at a weighted average yield of […]
Sri Lanka stocks close up 0.1-pct following four days of losses
Jun 12, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.14 percent following four days of losses with index heavy stocks making gains Friday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 9.76 points higher at 7,061.28 up 0.14 percent. The S&P SL20 closed 7.99 points higher at 3,914.01 higher 0.20 […]
Sri Lanka’s Global Glass to set up Double and Triple Glazed Units, Plans for regional exports
June 12, 2015 (LBO) – Sri Lanka’s Globe Mirror Industries, a glass merchant and a processor, rebranded as Globe Glass, said that it plans to set up a Double and Triple Glazed Units, to expand its product portfolio while expanding exports to region.“We have planned to set up our own double and triple glazed units […]
Sri Lanka stocks close down 0.2-pct; Foreigners net sellers
Jun 11, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.17 percent for the fourth consecutive day, Thursday with index heavy stocks making losses and foreign investors were net sellers , brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.93 points lower at 7,051.52 down 0.17 percent. The S&P SL20 closed […]
Singer Sri Lanka debenture oversubscribed
Jun 11, 2015 (LBO) – Singer Sri Lanka’s 15,000,000 rated senior secure redeemable debenture valued at 1,500,000,000 has been oversubscribed, the Company said in a stock exchange filling. The issue will close as per its prospectus this evening.The basis of allotment will be notified to the CSE later, the statement said.
EAP Broadcasting to get new rating for debt issue
June 11, 2015 (LBO) – Sri Lanka’s EAP Broadcasting Company Limited said that it has taken all the steps necessary to obtain another rating for its proposed debenture issue which was to be held today.Sri Lanka’s securities watch dog issued a directive to EAP Broadcasting Monday to hold its debt issue citing a conflict of […]
Developing countries to face tough challenges in 2015: World Bank
June 11, 2015 (LBO) – The World Bank says, that developing countries would face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs as they adapt to a new era of low prices for oil and other key commodities, resulting in a fourth consecutive year of disappointing economic growth […]
‘s Hemas Holdings March net down 17.6-pct
June 11, 2015 (LBO) – Sri Lanka’s Hemas Holdings which has interests in consumer goods, power and leisure has posted a profit of 771 million rupees in the March 2015 quarter, down 17.6 percent from a year earlier, interim accounts showed. The group reported earnings of 1.50 rupees per share for the March quarter against […]
Sri Lanka stocks close down 0.2-pct for third straight day
Jun 10, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.19 percent for the third consecutive day with investors continuing to keep away from trading due to the unstable political climate in the country, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 13.43 points lower at 7,053.68 down 0.19 percent. The […]
Sri Lanka’s three month treasury bill yields up
June 10, 2015 (LBO) – Sri Lanka’s six and twelve month treasury bill yields close flat at Wednesday’s auction with the three month yield up by one basis point, data from the state debt office showed.3-month yield was up at 6.08 percent with 13,974 million rupees were accepted from 19,770 million rupees of bids.6-month yield […]
Sri Lanka’s Seylan Bank launches new breed of credit cards
June 10, 2015 (LBO) – Sri Lanka’s Seylan Bank launched a new line of credit cards eliminating all fees and slashing down the interest rate, the bank said.“We found that while consumers appreciate the security and convenience offered by credit cards, they are increasingly weary of the plethora of fees charged,” Kapila Ariyaratne, Director and […]