Category: Economy and Markets
Sri Lanka appoints Dumith Fernando to CSE Board
June 29, 2017 (LBO) – Sri Lanka’s Colombo Stock Exchange said it appointed Dumith Fernando as a Director of its board at its Annual General Meeting in place of Vajira Kulatilaka. Fernando is an experienced international investment banker with over two decades in the industry in the US and Asia. He led the acquisition of Asia […]
PTL Watch: Sri Lanka bond yields dip with improved activity
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Sri Lanka USD515mn development bond oversubscribed
June 28, 2017 (LBO) – The issue of Sri Lanka development bonds amounting to 515 million US dollars has been oversubscribed with close to 1 billion US dollars of bids received from investors. The Central Bank has received 452.55 million dollars of bids for the one year seven months bond and the bank has accepted […]
‘s Ube takes 10-pct stake in Tokyo Cement
June 28, 2017 (LBO) – Ube Singapore Holdings Pvt, a Japanese group operating businesses in the Southeast Asian region, has acquired a 10 percent stake in Sri Lanka’s Tokyo Cement Company (Lanka), a statement said. In a stock exchange filing Tokyo Cement Company said that 10,692,000 ordinary voting shares of the company was bought at […]
Anilana Hotels to sell 51-pct stake to Somap International
June 28, 2017 (LBO) – Sri Lanka’s Anilana Hotels said an international firm Somap International (Private) Limited plans to invest in up to 51 percent of the company by way of an issue of new shares, with a total investment of 667 million rupees. Accordingly, 513 million new shares will be issued at a price […]
Japanese ambassadors in five SAARC countries meet Foreign Minister Ravi
June 28, 2017 (LBO) – Japanese ambassadors in five SAARC countries India, Nepal, Maldives, Pakistan and Bangladesh met Foreign Minister Ravi Karunanayake Tuesday at the Ministry. “The ambassadors hailed the ongoing development activities in Sri Lanka and pointed out the growth in the country is a matter of pride for other nations in the region,” […]
PTL Watch: Bond yields edge higher, more OMO
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Laugfs enters residential apartment development
June 27, 2017 (LBO) – Sri Lanka’s Laugfs Property Developers, a subsidiary of Laugfs Gas PLC, has formed a fully owned subsidiary to undertake residential apartment complex projects. The new entity, Laugfs on Reid (Private) Limited, incorporated under the Companies Act last week, is located at their head office premises. Laugfs Property Developers (Private) Limited […]
New share transaction fees to be effective from next week
June 23, 2017 (LBO) – Sri Lanka’s securities regulator has directed all licensed stock brokers and dealers to comply with the new fee structure which will be effective from 27 June 2017. The CSE proposed adopting a step-up fee structure rather than the present flat fee structure when consolidating transactions for the purpose of computing […]
Sri Lanka should relax issuing licenses for beer & wine: FinMin
June 23, 2017 (LBO) – Sri Lanka’s Finance Minister told Parliament Thursday that the country needs to relax issuing liquor licenses for beer & wine as it may reduce illegal liquor consumption. Minister Mangala Samaraweera said the ministry is now collecting information and is having discussions with the relevant parties with regard to the issue […]
Central Bank holds key rates unchanged, reserves climb
June 23, 2017 (LBO) – Sri Lanka’s central bank held key interest rates unchanged on Friday after a monthly monetary policy meeting with inflation moderating in April and May, and the economy expected to recover in the second half. “Growth in the first quarter was weighed down by the impact of unfavourable weather conditions, particularly […]
‘s IFC to sell Sri Lanka rupee bonds
June 22, 2017 (LBO) – Sri Lanka’s government has approved a proposal to establish an offshore Sri Lankan Rupee (LKR) Bond Programme by the International Finance Corporation, a statement said. The program is beneficial to Sri Lanka, and the Cabinet Committee on Economic Management has recommended its implementation, the most recently approved cabinet decisions statement […]