Category: Economy and Markets
‘s Litro has no plans to increase gas prices; Says no shortage
Jun 05, 2015 (LBO) – Sri Lanka’s Litro Gas Lanka, the largest importer and supplier of Liquid Petroleum Gas (LPG) in the Island, says that there will be no immediate price revision by the company and there is no gas shortage in Sri Lanka. “There are no plans to increase the price of gas in […]
Lanka Rating Agency Restrained By SEC from providing new ratings
June 4, 2015 (LBO) -The Securities & Exchange Commission of Sri Lanka (SEC) has taken steps to restrain Lanka Rating Agency Ltd from providing new ratings with effect from 25th March 2015 until the company complies with regulatory requirements imposed by the Commission, the security watch dog said in a statement today. “The Commission took […]
Stocks Close Down 0.4-pct; Political Uncertainty Keeps Investors Away
Jun 04, 2015 (LBO) – Sri Lanka’s stocks closed down for a fourth consecutive day with the country’s political uncertainty affecting investor confidence, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 28.55 points lower at 7,120.91 down 0.4 percent. The S&P SL20 closed 15. 48 points lower at 3,945.54 down 0.39 percent. […]
‘s Nawaloka Hospital Enters Elder Care Service Business
EJune 4, 2015 (LBO) – Sri Lanka’s Nawaloka Medical Centre (Pvt) Ltd, a subsidiary of Nawaloka Hospital signed a memorandum of understanding with Harmony and Fusion International Pvt Ltd to put up elder care service business.The joint venture will carry out the service under Nawaloka Guardina International (Pvt) Ltd, in which Nawaloka Medical Centre (Pvt) […]
‘s Rs5bn Debt Issue Oversubscribed
June 4, 2015 (LBO) – Sri Lanka’s DFCC Vardhana Bank said, that it issued five billion subordinated and senior unsecured listed redeemable rated 5-year listed debt in order to raise 5 billion rupee funds to utilize for on-going lending activities of the bank.The “Type A”, senior, unsecured, listed, redeemable, rated five year (2015/2020) debentures was […]
Sri Lanka Chemcel operations to cease
Jun 04, 2015 (LBO) – Archer Daniels Midland, a multinational said that its closing the Sri Lankan unit of chemicals manufacturing, Chemcel (Pvt) limited, in which Chemanex PLC also has a stake. “Archer Daniels Midland Europe BV, the main shareholder of Chemcel, has informed us that Chemcel will cease operations based on a number of […]
Sri Lanka’s T-bill yields close flat on Wednesday
June 3, 2015 (LBO) – Sri Lanka’s Treasury bill yields close flat at Wednesday’s auction with 3-months yield unchanged at 6.07 percent while 6-month yields also were flat at 6.18 percent, data from the state debt office showed.It was decided to accept 6,632 million rupees from the auction of 03 month yields from received 19,629 […]
Sri Lanka Nestle Unit Assures MAGGI Meets Food Laws; India Keeps Testing
Jun 03, 2015 (LBO) – Nestle Lanka Plc, a unit of a Swiss-based food group said, that the company’s product “Maggi Noodles” which is manufactured locally, meets all the food laws in the Indian Ocean Island. “The quality and safety of our products is the top priority for the company,” Nestle Lanka said.“MAGGI Noodles is […]
Sri Lanka stocks close down 0.6-pct
Jun 03, 2015 (LBO) – Sri Lanka’s stocks closed down 0.64 percent for a third consecutive day with some retail investor activity in the market, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 45.73 points lower at 7,220.29 down 0.64 percent. The S&P SL20 closed 25.15 points lower at 3,961.02 down 0.62 […]
Ceylon Cold Stores Says Health Concerns May Impact Carbonated Soft Drink Market
June 3, 2015 (LBO) – Sri Lanka’s Ceylon Cold Stores says that the growth potential for carbonated soft drinks may be limited due to growing health concerns of consumers, even though there has been an increase in disposable income.“I am confident that the increase in disposable income witnessed in the last quarter will act as […]
CSE Push For New Product Development
June 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) said, that it is pushing for new instruments for development, as it will implement a new system soon to reduce risk.“We have to manage our risk according to world standards,” Vajira Kulatilaka , Chairman of CSE said at the launch of annual report.“We have […]
Sri Lanka CSE records highest ever foreign inflow last year: 2014 CSE Annual Report
June 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange has recorded its highest ever inflow of foreign investment into the secondary equity market amounting to 104.7 billion rupees by December 2014. Releasing the 2014 Annual Report of the CSE, its CEO Rajeeva Bandaranaike said Market capitalization has surpassed 3 trillion rupees, closing the year […]