Category: Economy and Markets
Ceylinco Life head office gets biggest solar power system in Colombo
Aug 09, 2016 (LBO) – Ceylinco Life has broken new ground in the sphere of eco-friendly operations with the installation of the biggest solar electricity system in Colombo, the company said. The life insurance company said it is converting its head office building in Colombo 5 to solar power, with a system capacity of 63.18kW. […]
Deutsche Bank Sec. fined USD12.5 mln for inadequate communication supervision
Aug 09, 2016 (LBO) – The Financial Industry Regulatory Authority (FINRA) in the U.S. has fined Deutsche Bank Securities Inc 12.5 million dollars for failure to supervise which employees had access to confidential information. FINRA said it had fined the entity for “significant supervisory failures related to research and trading-related information it disseminated to its […]
Asia shares up as yield hunt drives record flows, pound slips
SYDNEY, Aug 9 (Reuters) – Asian shares stood atop one-year peaks on Tuesday as investors’ desperate search for yield drove a record inflow into emerging market funds, while the pound slipped to one-month lows on speculation of further policy easing in the UK. Analysts at Bank of America Merrill Lynch noted the search for yield […]
Norges wealth fund increases stake in Dialog, EPF reduces
Aug 08, 2016 (LBO) – Norges Bank has increased its shareholding in Dialog Axiata PLC to 96.6 million shares as of end June, data filed with the Colombo Stock Exchange shows. Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, is now the fifth biggest shareholder in telecommunications company Dialog with a 1.19 […]
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
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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 […]