Category: Economy and Markets
Markets recover post Brexit, but political uncertainty remains
Aug 24, 2016 (LBO) – U.K. retail sales data have posted a positive outcome post-Brexit supporting markets even though some political uncertainty remains. From the FTSE’s low of 5,806 points immediately after the Brexit vote, the index has rallied some 18.38 percent. Other European indexes and the STOXX 600 have also recovered, with the STOXX […]
Asia stocks cement gains after recent rally, oil slips
HONG KONG, Aug 24 (Reuters) – Asian stocks consolidated recent gains on Wednesday, helped by Wall Street’s rise overnight, even as oil prices slid after a surprise build in U.S. crude stocks. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3 percent in early trade. It has risen more than 14 percent since late […]
Chinese bank to set up South Asian branch in Sri Lanka: PM
Aug 23, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe told Parliament today that a Chinese bank has agreed to set up their South Asian branch here in Sri Lanka. “China agreed to set up the branch here in Colombo at the proposed financial city,” Wickremesinghe said. Prime Minister said the concept paper and […]
PTL Watch: Yields drop, foreign buying in 8,10-year bonds
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-23rd-August-2016.pdf” title=”PTL Daily Market Report 23rd August 2016″]
Sri Lankan rupee trades steady; dollar selling by foreign investors eases pressure
Aug 23, 2016 (Reuters) –The Sri Lankan rupee held steady for a seventh straight session on Tuesday, with dealers hesitating to trade in the local currency below 145.50 per dollar anticipating central bank intervention to defend the currency, dealers said. Foreign investors were seen selling the U.S. currency, which helped ease pressure on the rupee […]
GAAM: Market rallied 1.2 pct last week, Rs50 mln foreign inflow
The Guardian Acuity Asset Management weekly can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/Weekly-Report-GAAM-20-08-16.pdf” title=”Weekly Report GAAM 20 08 16″]
DCSL to suspend share transactions from Oct until public float restores
Aug 23, 2016 (LBO) – Sri Lanka’s Distilleries Company in a stock exchange filing says the trading in shares will be suspended starting from October until the public float in DCSL is restored. Directors of DCSL recently decided to make Melstacorp limited the ultimate holding company of the group and to obtain a listing from […]
Browns Beach Hotels to raise Rs1.4bn through rights issue
Aug 23, 2016 (LBO) – Sri Lanka’s Browns Beach Hotels is to raise 1.4 billion rupees by way of a rights issue subject to necessary approvals, the company said in a stock exchange filing. The company is to issue 54 million new ordinary shares at 25.85 rupees each in the ratio of 5 new shares […]
Asia stocks edge up, dollar dips as markets await Fed clues
SYDNEY, Aug 23 (Reuters) – Asia shares inched ahead while the dollar slipped on Tuesday as a dearth of major data left markets with little to do but second guess whether the Federal Reserve will raise U.S. interest rates this year. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, with South […]
Sri Lanka nation wide inflation declines to 5.8-pct in July 2016
Aug 22, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index declined to 5.8 percent in July from the 6.4 percent inflation reported a month earlier on yearly basis, data from the state statistics office showed. In July, contribution to the inflation from food group and non-food group are 3.0 […]
VirtusaPolaris Receives Stevie Award for Investor Relations and Technical Innovation
(PRESS RELEASE) – WESTBOROUGH, Mass.,– VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology (IT) consulting and outsourcing services, announcedthat it has been awarded two Stevie Award recognitions; a Gold award for Investor Relations and a Silver award for Most Innovative Technology Company […]
Sri Lankan rupee steady; importer dollar demand offsets exporter sales
COLOMBO, Aug 22 (Reuters) – The Sri Lankan rupee was steady for a sixth straight session on Monday as dollar sales by foreigners who bought government securities were offset by demand for the U.S. currency from importers, dealers said. The spot rupee was at 145.50/55 per dollar at 0648 GMT, unchanged from Friday’s close. “It […]