Category: Economy and Markets
Net outflows from securities market & CSE surpasses USD200mn in October
Dec 21, 2018 (LBO) – Sri Lanka’s Central Bank says the trend of foreign investment outflows from the financial account continued during October, with notable outflows from the Colombo Stock Exchange and the government securities market.Government securities market recorded a net outflow of 172 million dollars in the month of October while foreign investments in […]
CSE announces changes in S&P SL20 with year-end index rebalance
Dec 21, 2018 (LBO) – Colombo Stock Exchange (CSE) has announced the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 year-end index rebalance. The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 24 December 2018 (after the market close of 21 […]
BOI inks deals in tourism and pharmaceutical sectors
Dec 21, 2018 (LBO) – The Board of Investment signed Agreements for projects in the field of hotels and the manufacture of pharmaceuticals. The Agreements were signed on behalf of the BOI by the Chairman Hemasiri Fernando. Also present was Champika Malalgoda, Director General of BOI. The Wild Beach Resorts (Private Ltd) project is to […]
Sri Lanka’s Commercial Bank to raise Rs15bn through listed debenture
Dec 20, 2018 (LBO) – Sri Lanka’s listed Commercial Bank plans to raise as much as 15 billion rupees from an issue of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that they seek to issue 75 million debentures at 100 rupees each with a […]
LSEG Technology implements settlement solution for Singapore Exchange
Dec 20, 2018 (LBO) – LSEG Technology has successfully implemented Settlement and Central Securities Depository functionality for Singapore Exchange (SGX). In live operation from 10 December 2018, this was a whole market implementation, involving brokers, custodian banks, settlement banks, registrars and retail investors. Built upon the same technical and hardware framework as the Clearing (Central Counterpart) […]
Active trading in shares of John Keells Holdings (JKH)
December 20, 2018 (LBO) – Trading at the Colombo Stock Exchange (CSE) picked up with active trading in bellwether stock John Keells Holdings (JKH).JKH traded close to Rs2bn (US$11mn) worth of shares as trading neared the close for the day. The amount of shares traded today is close to 1% of the total outstanding shares […]
Vote on Account to be presented in Parliament tomorrow; 55-pct for debt repayments
Dec 20, 2018 (LBO) – Vote on Account to cover the expenditures of the first four months of 2019 to be presented in Parliament tomorrow, Mangala Samaraweera assuming duties as the Finance Minister told reporters.Accordingly, 1,765 billion rupees have been allocated for government expenditure from which 970 billion rupees have been allocated for debt servicing that includes interest […]
Hayleys Advantis unveils Sri Lanka’s largest distribution hub
Dec 19, 2018 (LBO) – Hayleys Advantis ceremonially unveiled Sri Lanka’s largest distribution hub – Advantis 3PL Plus Logistics City – in Kotugoda, Ja-Ela as part of the company’s expansion efforts aimed at serving its clients better through greater efficiencies and economies of scale. The company said the move bodes well for the nation’s vision […]
‘s Softlogic Life
Dec 19, 2018 (LBO) – LeapFrog Investments, a leading profit with purpose investor, today announced a USD 12 million dollar investment in Softlogic Life Insurance PLC, purchasing the shares of FMO, the Dutch development Bank. The company, growing at 2x the market, is one of Sri Lanka’s fastest growing life insurers, providing Sri Lankans with individual […]
Sri Lanka GDP 2.9-pct for third quarter 2018
Dec 19, 2018 (LBO) – The Department of Census and Statistics (DCS) Sri Lanka said economic growth rate of the country is estimated as 2.9 percent for the third quarter of 2018. The Gross Domestic Product at constant (2010) prices for the third quarter of 2018 recorded as 2,431 ,627 million rupees and GDP reported […]
China Securities Depository and Clearing Corporation and CDS Sri Lanka commits to corporation
Dec 18, 2018 (LBO) – Sri Lanka’s Central Depository Systems (Pvt) Ltd (CDS) and China Securities Depository and Clearing Corporation Limited (CSDC) recently committed towards pursuing a cooperative relationship in the areas of securities clearing and depository. This commitment was formalized with the signing of a MoU between the two depositories during a visit by CSDC […]
Ceylon Chamber facilitates efficient document approval process for exporters
Dec 18, 2018 (LBO) – A Memorandum of Understanding was signed between the Ceylon Chamber of Commerce and the Ministry of Foreign Affairs (MoFA) recently, for the certification of export related documents through the electronic Document Attestation System (e-DAS) of the Ministry. The MOU provides for the Ceylon Chamber of Commerce to use the e-DAS system […]