Category: Economy and Markets
Sri Lanka’s E B Creasy and Lankem reassess direct and indirect investments
Jun 10, 2015 (LBO) – Sri Lanka’s E B Creasy and Lankem says they have assessed their direct and indirect investments and categorized some of them as associates.According to the Sri Lanka financial reporting standard 10, these two companies have determined that it does not control the below mentioned indirect investments and they should not […]
SEC issues directive to hold debt issue of EAP Broadcasting
June 10, 2015 (LBO) – Sri Lanka’s securities watch dog issued a directive to EAP Broadcasting to hold its debt issue citing a conflict of interest arising in the credit rating of the company’s debenture.The decision was taken at a meeting of the Securities and Exchange Commission of Sri Lanka held Monday (09),2015 which deliberated […]
Sri Lanka government revenues up 21-pct over the first five months of 2015
June 10, 2015 (LBO) – Sri Lanka’s government revenues have increased 21 percent over the first five months of this year against the same period last year, Deputy Minister of Policy Planning Dr. Harsha de Silva told Parliament Tuesday. As per the latest data the government has collected 492 billion rupees by May 2015 against […]
Sri Lanka stocks close down 0.2-pct: Political uncertainty keeps investors away
Jun 09, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.16 percent with investors keeping away due to the prevailing unstable political climate and losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.55 points lower at 7,067.11 down 0.16 percent. The S&P SL20 closed 8.48 points […]
Australia helps Sri Lanka increase milk production
Jun 09, 2015 (LBO) – Australia’s Wellard Rural Exports, a live cattle exporter is in partnership with the National Live Stock Development Board (NLDB) of Sri Lanka to supply dairy cows and build new infrastructure to increase milk production, a statement said.“In phase one of the development project, Wellard supplied 2000 dairy cows to three […]
What should come first in Sri Lanka’s debt market, Regulation or Development?
June 9, 2015 (LBO) – Sri Lanka needs to allow the debt market development through producing new products before regulating it, since the market is pacing fast and changing day by day, Ajith Fernando, chief of Capital Alliance Sri Lanka said. “The regulator has to move away from stopping everything that they can’t regulate,” Fernando […]
Sri Lanka stocks close down 0.6-pct; JKH reaches 52 week low
Jun 08, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.62 percent with losses in index heavy and banking stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 44.07 points lower at 7,078.66 down 0.62 percent. The S&P SL20 closed 39.35 points lower at 3,924.33 down 0.99 percent. Turnover was 659 […]
Asian debt markets quadruples over the past seven years: HSBC Official
June 08, 2015 (LBO) – Asian debt capital markets have quadrupled over the past seven years and growth momentum will continue in the years to come, a HSBC official said.“It would be incorrect to say that debt market can’t grow at a frantic pace,” Kartik N, Director Debt Capital Markets of Asia Pacific at HSBC […]
Stocks close higher 0.03-pct; Records lowest turnover since 20 April
Jun 05, 2015 (LBO) – Sri Lanka’s stocks closed higher at 0.03 percent after four consecutive days of losses with index heavy John Keells Holdings showing gains, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 1.82 points higher at 7,122.73 up 0.03 percent. The S&P SL20 closed 15.60 points higher at 3,961.14 […]
Nestle India to pull out Maggi Noodles off the shelves
June 5, 2015 (LBO) – Nestle India said that it will pull out all the Maggi noodle products from Indian shelves.Releasing a statement Nestle India said, “MAGGI Noodles are completely safe and have been trusted in India for over 30 years,” “The trust of our consumers and the safety of our products is our first […]
Sri Lanka’s Finance ministry to fund halted projects in Colombo
June 5, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake yesterday said that the government will allocate 1,296 million rupees for 390 projects in the Colombo District which were halted due to lack of funding.“These projects should have been completed last year.But the government has not given funds,” Karunanayake told LBO. “So now we […]
Sri Lanka State Sector Workers Need Training To Improve Efficiency: Eran
June 5, 2015 (LBO) – Sri Lanka’s state sector employees need training to provide a more efficient and professional service to the public, which will be a top priority of the government, Deputy Minister of Highways, Higher Education and Investment Promotion, Eran Wickramaratne told LBO.“Sri Lanka expects a highly professional and efficient public service. So […]