Category: Economy and Markets
Trinco to be developed as agri and energy hub
May 05, 2016 (LBO) – Sri Lanka’s cabinet has decided to approve a planning review to be done to develop Trincomalee and surrounding cities in the islands east. ”The Trincomalee area has been identified as major zone that could be developed as agricultural and energy hubs under the development program of the present government,” a statement […]
‘s high credit growth to private sector plateauing: Governor
May 05, 2016 (LBO) – Credit growth to Sri Lanka’s private sector by commercial banks is a key variable followed in determining monetary policy. This number has been running high in recent months, rising to 26.5 percent in February, compared with 25.7 percent in January on a year-on-year basis, although the figure is down from […]
Guardian Capital Partners to invest in private equity projects in Sri Lanka
May 04, 2016 (LBO) – Guardian Capital Partners, a part of the listed Ceylon Guardian Investment Trust Group has entered into a joint venture agreement with Small Enterprise Assistance Funds (SEAF) in US to carry on a fund management business to manage and invest in private equity projects in Sri Lanka. The company said in […]
PTL Watch: Bond yields ease, foreigners on buy side
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Sri Lanka to raise USD500 mln through syndicated loan: Governor
May 04, 2016 (LBO) – Sri Lanka is planning to raise 500 million dollars through a syndicated loan and terms are being discussed, the Central Bank Governor said. Citi Emirates, NDB, HSBC and Mashreq bank are expected to be mandated to arrange a 3-year term loan that will be repaid in installments, Bloomberg reported citing […]
Slogal Energy buys stake in Laugfs Gas Bangladesh for USD9.2mn
May 04, 2016 (LBO) – A fully owned subsidiary of Laugfs Gas Plc, Slogal Energy DMCC, incorporated in Dubai has acquired 31 percent of the total issued shares in Laugfs Gas Bangladesh for 9.2 million US dollars. Laugfs Gas Plc said in a stock exchange filing that they own the balance 69 percent shareholding of […]
New agencies to fast track Sri Lanka investment approvals
May 04, 2016 (LBO) – Sri Lanka’s government will fast track the approval of investment projects through the setting up of two new agencies, a state minister said in a statement. “Ideally the time frame for approval of projects should be about two months,” Sujeewa Senasinghe, state minister, Development Strategies and International Trade, said. “The Government is […]
Chevron plans to expand local and regional presence
May 04, 2016 (LBO) – Chevron Lubricants Lanka said that they have no immediate plans to go to new markets but will focus on growing local and regional presence, a senior official said. “Plans are to grow in the local and two export markets,” Kishu Gomes, chief executive of Chevron said. “Bangladesh is a huge […]
CSE to change methodology to calculate price multiples
May 04, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) said it would use quarterly earnings to calculate price multiples from May 3, 2016. The new method would use quarterly earnings instead of sourcing earnings from the annual results and calculating the price-to-earnings (P/E) ratio, price-to-book value ratio (P/BV) and dividend yield (DY)., a […]
Ceylon Petroleum losses rise despite falling oil prices
May 04, 2016 (LBO) – State-owned Ceylon Petroleum Corporation (CPC) made a substantial loss of 18.4 billion rupee in 2015 compared with a marginal profit of 1.5 billion rupees in 2014, despite international oil prices falling sharply, according to provisional data released by the Central Bank. A significant reduction of domestic petroleum prices at the […]
Sri Lanka IMF agreement faces implementation risks: Fitch
May 03, 2016 (LBO) – Sri Lanka’s 1.5 billion US dollar three-year IMF programme eases near-term balance-of-payments risks but will require sustained commitment from the authorities to address long-standing weaknesses in external and public finances, Fitch Ratings said. The ratings agency said the IMF support therefore has no immediate impact on Sri Lanka’s ‘B+’/Negative sovereign […]
PTL Watch: Sri Lanka bond yields dip, further foreign buying
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