Category: Economy and Markets
CSE to host briefing event for potential Empower Board sponsors
Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC) recently launched “Empower”, a listing platform fostering capital raising and growth opportunities for Sri Lankan Small and Medium Enterprises (SMEs). SMEs around the country now have at their disposal a range of new capital raising methods and entities listing on this platform will be […]
Thai-Sri Lanka FTA talks launched; USD1.5bn mutual trade expected by 2020
July 13, 2018 (LBO) – Sri Lanka and Thailand on Friday officially declared the launch of negotiations for the proposed Free Trade Agreement (FTA) between the two countries. The first round of negotiations was held in Colombo with the blessings of the Thailand Prime Minister General Prayut Chan-o-Cha who paid an official visit to Sri […]
Colombo stocks up for the week on sluggish turnover, foreign selling continues
July 13, 2018 (LBO) – Colombo stocks finished the week up, snapping the downtrend that persisted for the past several weeks. The All Share Price Index (ASPI) finished the week up .5% and the S&P SL 20 was up .33%. Turnover dipped to low levels near US$1mn a day mid week, before rebounding moderately later […]
Sri Lanka seeks investments from France for Megapolis project
July 13, 2018 (LBO) – Sri Lanka recently concluded an investment forum in France aimed at attracting foreign investments for the Megapolis project that is being carried out in the Western Province. The forum was held in Paris, France from 01 July to 06 July 2018 with the participation of well-known French companies. Speaking at […]
Fitch removes Rating Watch Negative on Distilleries; affirms at AAA(lka)
July 13, 2018 (LBO) – Fitch Ratings has removed the Rating Watch Negative on Distilleries Company’s National Long-Term Rating, and has affirmed the rating at ‘AAA(lka)’. Full text of the statement is reproduced below. Fitch Ratings-Colombo-13 July 2018: Fitch Ratings has removed the Rating Watch Negative (RWN) on Distilleries Company of Sri Lanka PLC’s (DIST) National Long-Term […]
Arpico Finance, Associated Motor Finance merger to be completed by Nov 2019
July 12, 2018 (LBO) – Process of amalgamating Associated Motor Finance (AMF) with Arpico Finance Company (AFC) which commenced in August 2017 is expected to be completed with their legal merger by November 2019. Associated Motor Finance said in a stock exchange filing that they are not able to inform the shareholders as to the […]
Transparency in tender procedures vital for attracting FDI inflows to Sri Lanka :EU
Jul 11, 2018 (LBO) – The 6th EU- Sri Lanka investor dialogue was held at the Ministry of Development Strategies and International Trade recently. Many of the earlier outstanding matters had been resolved through dialogue and the joint efforts of the Sri Lanka and EU authorities. “We have managed to resolve many of the issues that […]
First Capital downgrades exchange rate target to 161 rupees for end 2018
July 11, 2018 (LBO) – First Capital Research said they downgraded their exchange rate target from 159 rupees to 161 rupees per dollar for end 2018 since a stronger dollar is more likely in the coming months. With four fed rate hikes on the cards over next 12 months, First Capital Research said they are […]
Pidilite opens new adhesive manufacturing plant in Polgahawela
Jul 11, 2018 (LBO) – A state-of-the-art manufacturing plant of Pidilite Lanka (Private) Limited was formally commissioned at Polgahawela in Sri Lanka’s North Western Province, recently. It is a joint venture of India’s Pidilite Industries Limited. The company is well-known brands in Sri Lanka include FEVICOL, the high-performance range of adhesives and Dr. FIXIT, an advanced […]
Sri Lanka President, Fin Min agree to go ahead with fuel price formula, Prices hiked
Jul 10, 2018 (LBO) – Sri Lanka’s President and Finance Minister following meeting earlier Tuesday decided to revise its fuel prices according to an earlier cabinet approved pricing formula. Accordingly the price of one litre of Petrol (Octane 92) will be increased by 8 rupees to 145 rupees, Petrol (Octane 95) will be increased by 7 rupees to […]
Central Bank instructs SFSP to pay 10-pct of deposit liabilities from today
July 10, 2018 (LBO) – Monetary Board of the Central Bank has instructed Swarnamahal Financial Services PLC (SFSP) to pay urgently 10 percent of deposit liabilities commencing from today, considering the requests of the depositors.Central Bank said the details of the payment plan will be informed to depositors by Swarnamahal Financial Services PLC shortly. Central Bank […]
Simplifying exporter registration process is critical for export success: Study
July 10, 2018 (LBO) – Sri Lanka’s current exporter registration process is unnecessarily lengthy, inefficient and unduly burdensome especially for Small and Medium Enterprises (SMEs), a recent study has found.According to the main findings of a study conducted by Verité Research shows that many of these unnecessary steps cannot be justified on a rational basis. […]