Category: Economy and Markets
Sri Lanka’s Dialog Axiata net up 20-pct in June quarter
Aug 08, 2016 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television rose 20 percent to 2.3 billion rupees from a year earlier in the June quarter, interim accounts showed. The group reported earnings of 28 cents per share for the quarter compared to 23 cents […]
Asian stocks rise as investors hunt for yield; Aussie shines
HONG KONG, Aug 8 (Reuters) – Investors flocked to higher-yielding assets on Monday after strong U.S. jobs data on Friday lifted confidence – driving up Asian stocks and the Australian dollar. Although the strong U.S. data dampened the safe-haven appeal of government debt with Japanese 10-year bond futures tanking in early trade, futures markets were […]
FCID collecting vital information necessary for governance: official
Aug 06, 2016 (LBO) – A stream of former government and corporate officials who have been questioned by the Financial Crimes Investigation Division (FCID) of Sri Lanka in recent months is not political vindictiveness or a witch hunt, a government official said. It is the collection of key information necessary for good governance, the official […]
Sri Lanka foreign reserves at USD6.5bn by end July: Central Bank
Aug 05, 2016 (LBO) – Sri Lanka’s official reserves were 6.48 billion US dollars at the end of July, up from 5.27 billion US dollars end of June, official Central Bank data showed. Foreign currency reserves were 5.45 billion dollars, and reserves in Gold were 0.96 billion dollars. Reserves were boosted by a dual-tranche sovereign bond […]
PTL Watch: Bond yields lower on fresh buying by locals
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-05th-August-20161.pdf” title=”PTL Daily Market Report 05th August 2016(1)”]
Janashakthi Insurance records remarkable growth in 1H, 2016
Janashakthi Insurance PLC (Janashakthi) posted a consolidated Profit After Tax (PAT) of Rs. 630 million for the six months ended 30th June 2016, recording an impressive Year-on-Year growth of 198%. Consolidated Gross Written Premium (GWP) grew by 34% to Rs. 6.5 billion with the Company’s Non-Life segment leading the charge with 41% growth in GWP […]
Sri Lankan shares rise as investors pick blue chips; rupee steady
Aug 05, 2016 (Reuters) – Sri Lankan shares rose on Friday, hovering near a seven-week high hit earlier this week, as investors bought blue chips expecting better profits after hopes rose that a recent rate increase by the central bank would help improve the island nation’s macroeconomic outlook. The benchmark Colombo stock index was 0.7 […]
Malaysia’s rationalization of SOEs, lessons for Sri Lanka
Aug 05, 2016 (LBO) – Sri Lanka’s state-owned public enterprises should be rationalized to focus on four main factors to future survival, a top official at PEMANDU Malaysia said. Speaking at the Sri Lanka Economic Summit 2016, CEO of PEMANDU, Dato Sri Idris Jala, said the most important factor is that the SOEs should be […]
Colombo Stock Exchange offers online services through CDS e-connect
Aug 05, 2016 (LBO) – The Colombo Stock Exchange has launched CDS e-connect, a portal with an array of online services to Central Depository System account holders. The CDS will match depositories from around the world in offering electronic services to account holders, a statement said. Many peer depositories in the Asian region currently provide similar […]
Sri Lanka Central Bank reforms bond trading
Aug 05, 2016 (LBO) – Sri Lanka’s Central Bank will introduce several improvements to the process of trading treasury bonds and reporting of bond trades, a statement said. In addition, a new trading platform will be rolled out, and the supervision functions will be switched from the Public Dept Department to the Department of Supervision […]
Asia gains on BoE easing boon, key US jobs data awaited
TOKYO, Aug 5 (Reuters) – Asian shares joined a rise in global stock prices on Friday after the Bank of England (BoE) launched a potent post-Brexit stimulus campaign, but some caution before a big U.S. jobs report limited gains. An overnight rally in crude oil prices also sharpened risk appetites, while sterling nursed deep […]
ETCA first round of negotiations starts soon: Indian High Commissioner
Aug 04, 2016 (LBO) – India’s High Commissioner in Sri Lanka Y. K. Sinha says that the first round of negotiations on the Indo-Sri Lanka Economic and Technology Cooperation Framework Agreement (ETCA) will start shortly. Speaking at the eighth AGM of the Indo Lanka Chamber of Commerce, the High Commissioner reassured that India was aware […]