Category: Economy and Markets
Sri Lanka growth expected to recover to 4 – 4.5-pct in 2019: CB Gov
Nov 15, 2018 (LBO) – There are some positive signs with FDI and exports probably going to be record numbers this year and we envisage Sri Lanka’s growth to be somewhere between 4 -4.5 percent for 2019, the Central Bank Governor said. Growth is expected to remain below envisaged levels in 2018. As per the […]
Ceylinco Life’s 9-month net profit up 62-pct to Rs3.28Bn
Nov. 15, 2018 (LBO) – Sri Lanka’s Ceylinco Life has reported profit before tax of 3.734 billion rupees for the period nine months ending 30th September 2018. The life insurance player has reported profit before tax of Rs 3.734 billion for the period, reflecting growth of 48 per cent over the corresponding nine months of […]
Vallibel Finance pre-tax profits grow by 28.2-pct to Rs.1.03Bn
Vallibel Finance PLC returned yet another impressive report card with profits before tax (PBT) for the six months ending September, 2018 reaching a record high of Rs. 1.03 Billion. Acclaimed as one of the most respected finance companies in Sri Lanka, the name-bearer of the Vallibel Group continued its now customary outstanding financial performance with […]
Sri Lanka CB Chief confident of meeting debt repayment targets in 2019
Nov 14, 2018 (LBO) – Political uncertainty will not have an impact on Sri Lanka’s debt repayment preparations for 2019, the Central Bank Governor said. “Despite the uncertainty we have been operating with business as usual, ” Dr. Indrajit Coomaraswamy, Governor, Central Bank told reporters in Colombo, Wednesday. “CB is ready to cover the January 15th […]
Central Bank warns public to be attentive to financial scams/ phishing emails
Nov 14, 2018 (LBO) – The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to recent grievances received from the general public regarding financial scams spreading through phishing emails/ social media messages. Issuing a statement the bank said it has noticed that the image of the Head Office building, the Logo […]
Sri Lanka official reserves at USD7.9bn by end Oct; YTD rupee depreciation 12.9-pct
Nov 14, 2018 (LBO) – Supported by the receipt of the foreign currency term financing facility of 1 billion US dollars by the government, gross official reserves amounted to 7.9 billion US dollars as at end October 2018, providing an import cover of 4.2 months, the Central Bank said. The bank added that the significant […]
Central Bank reduced Statutory Reserve Ratio & increased policy interest rates
Nov 14, 2018 (LBO) – Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 13 November 2018, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.50 percentage points to 6.00 percent. In order to neutralize the impact of this reduction […]
Hayleys records turnover of Rs.103Bn for six months ending September
Nov 13, 2018 (LBO) – Hayleys PLC, a diversified conglomerate posted a 65 percent Year-on-Year (YoY) increase in turnover up to 103 billion rupees for the six months period ending 30 September 2018. The Group posted strong operating profits which expanded to 6.8 billion rupees from 3.2 billion rupees in the corresponding period. The Group […]
SAARC energy regulators meet in a bid to initiate regional power trade
Nov 13, 2018 (LBO) – Sri Lanka hosted the third meeting of South Asian Association for Regional Cooperation (SAARC) council of experts of energy regulators (Electricity) in Colombo, Tuesday to pave the way for initiating regional power trade through the implementation of SAARC framework agreement. Apart from the infrastructure and regional power trading, the council will […]
Sri Lanka port volumes up
Nov 13, 2018 (LBO) – State owned Jaya Container Terminal (JCT) of Sri Lanka Ports Authority (SLPA), witnessed the highest growth of 23.3 percent in transshipment container throughput for the first nine months (from January to September) in 2018 as against the corresponding period in 2017. During the first nine months of 2018, the transshipment […]
Dipped Products posts PBT of Rs.553Mn in 1H 2018/19
Nov 13, 2018 (LBO) – Dipped Products Group, a subsidiary of the Hayleys Group reported a profit before tax of 553 million rupees for the 1H of 2018/19, a growth of 141 percent over the previous year. The Company attributed the profits to strong gains from performance improvement initiatives in local operations and significant contribution […]
John Keells Holdings (JKH) makes Rs11bn stock buyback offer
November 12, 2018 (LBO) – Shares of Colombo Stock Exchange market bellwether John Keells Holdings (JKH) were halted this morning pending announcement of a stock buyback. The company announced that it is making buyback offer for 5% of its outstanding shares at a price of Rs160/share. The price is over a 10% premium to the […]