Category: Economy and Markets
Aitken Spence PLC Joins CSE to Open Trading for August
Aitken Spence PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today and pledged to play its part in furthering the nation’s economic vision and growth. The market opening ceremony was organized to mark the first trading day for the month of August. Making remarks on behalf of Aitken Spence, […]
Asian shares subdued, RBA rate decision awaited
TOKYO, Aug 2 (Reuters) – Asian shares edged lower in early trading on Tuesday, taking their cues from a modestly lower day on Wall Street as U.S. crude oil prices slid. The Reserve Bank of Australia’s policy board will decide on Tuesday whether rates should be left at 1.75 percent or trimmed a quarter point […]
Melstacorp to become Distilleries parent, 180-degree share swap
Aug 01, 2016 (LBO) – Melstacorp limited will become the parent company of Distilleries Company of Sri Lanka PLC (DCSL) and other subsidiaries of the current DCSL Group, a statement said.. Distilleries Company of Sri Lanka PLC (DCSL) announced a reorganization of the shares and stated capital of DCSL and its fully owned subsidiary Melstacorp […]
GAAM: Foreign inflow of Rs207 mln to CSE during week
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Sri Lanka motor vehicle imports fell 29-pct in April; trade gap shrinks
Aug 01, 2016 (LBO) – Sri Lanka’s exports fell 0.9 percent to 706.6 million US dollars in April 2016, while imports fell at a faster 2.0 percent to 1,460.9 million US dollars from a year earlier, official data showed. The trade gap has also shrunk 2.9 percent to 754.3 million US dollars from a year […]
Sri Lanka has demand for higher yielding financial instruments: Nandalal
Aug 01, 2016 (LBO) – Sri Lanka’s Central Bank Deputy Governor says there is an ample demand among insurance companies, provident funds and other institutional investors in the country for higher yielding new financial instruments. Delivering a keynote address, Deputy Governor Nandalal Weerasinghe highlighted that Sri Lanka needs to further deepen the corporate debt market […]
Sri Lankan rupee steady in dull trade; bond holders book profit
Aug 01, 2016 (Reuters) – The Sri Lankan rupee was steady in thin-volume trade on Monday as the market waited to watch the impact of last week’s policy rate hike announcement, while some bond holders sold their stakes to book profits, dealers said. After market hours on Thursday, the central bank raised its key interest rates […]
PTL Watch: Yields tick higher, demand for sovereign bond
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Sri Lanka’s Seylan Bank profits Rs1 bln, flat in June quarter
Aug 01, 2016 (LBO) – Sri Lanka Seylan Bank group recorded a net profit of one billion rupees in the June 2016 quarter up 1 percent from the same period last year, a filing with the stock exchange showed. The group reported earnings of 3.08 rupees per share for the quarter up 1 percent from […]
Deshal explains what is wrong with Sri Lankan economy
Aug 01, 2016 (LBO) – Sri Lanka’s most urgent economic risk is external debt sustainability and it has been one driving factor behind macroeconomic volatility in the country, a young economist said. Deshal de Mel delivering a public lecture hosted by the think tank Advocata Institute said the legacy of access to long term concessional […]
‘s economic reforms
Aug 01, 2016 (LBO) – The World Bank Board has approved a 100 million dollar credit from the International Development Association (IDA) to support the Government of Sri Lanka’s economic reform program. “Sri Lanka has been making steady progress on economic reforms, with the government aiming to create one million new jobs through a reform […]
Mobitel explores acquisition of Etisalat: report
Aug 01, 2016 (LBO) – Sri Lanka’s Mobitel intends to explore acquisition of Etisalat, after the Cabinet Committee on Economic Matters said it could carry out a due diligence prior to negotiations between the mobile companies, a media report said. A Committee is already looking into the proposed acquisition of Hutch, the fourth mobile phone […]