Category: Economy and Markets
Sri Lanka’s LOLC December net up 60-pct
Feb 15, 2016 (LBO) – Profits at Sri Lanka’s LOLC group which has interests in financial services, insurance, plantations, trading and leisure rose 60 percent to 2.2 billion rupees in the December quarter. The group reported earnings of 4.66 rupees per share for the quarter up from 2.91 rupees from a year earlier on last […]
DFCC Bank Senior Debentures rated Final AA- by Fitch
Fitch Ratings has today assigned DFCC Bank PLC’s (DFCC; AA-(lka)/Stable) proposed senior unsecured debentures of up to LKR7bn a final National Long-Term Rating of ‘AA-(lka)’. The assignment of the final rating follows the receipt of documents conforming to information already received, and the final rating is the same as the expected ratings assigned on 3 […]
Sri Lanka stocks close down 0.3-pct; Continued foreign outflow
Feb 15, 2016 – Sri Lanka’s stocks closed down at 0.27 percent for a seventh continuous session with continued foreign selling and some institutional participation witnessed, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 16.83 points down at 6,266.17 down 0.27 percent. 6,266.17-16.83-0.27% The S&P SL20 closed 4.70 points down at 3,260.24 […]
Fitch rates Singer Finance proposed Senior Debt BBB (EXP)
Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL; BBB(lka)/Stable) proposed senior secured redeemable debentures of up to LKR1.5bn a ‘BBB(lka)(EXP)’ National Long-Term expected rating. A full list of rating actions is at the end of this rating action commentary. The issue will have three tranches with bullet principal repayments in the third, fourth and […]
PTL Watch: Investors on sidelines, await monetary policy
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Small companies appeal to President on Rs60,000 levy
Feb 15, 2016 (LBO) – A collective of small and medium scale private companies have appealed to the President to reduce certain levies imposed on them through the 2016 budget. In a letter to President, the head of this SME grouping, Gunapala Banda Konara has asked to repeal the proposal of charging a voluntary winding up […]
‘s visit
Feb 15, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena is on an official visit to Germany and Austria with the aim of further strengthening the economic and trade cooperation between the island and the two countries, a statement said. A special discussion between the President and the German Economic Affairs Minister is scheduled to […]
China stocks open lower with equities in bear market
Feb 15, 2016 (LBO) – China’s stocks opened 1.9 percent lower after a week-long holiday during which global equities entered a bear market. The yuan gained 0.9 percent in Shanghai after the central bank strengthened the currency’s reference rate by the most in three months. The Nikkei was up 4.8 percent on Monday and Hang […]
Bharti Airtel in talks to merge Sri Lanka unit with Dialog Axiata
Feb 15, 2016 (LBO) – Bharti Airtel is believed to be in talks to merge its wholly-owned Sri Lanka unit with Dialog Axiata in a likely share-swap deal, two people familiar with the matter said. A potential Airtel Lanka-Dialog-Axiata merger is likely to be along the lines of the recent merger of Bharti Airtel and […]
Standard Chartered lead sponsors Sri Lanka Investment Summit
Feb 15, 2016 (LBO) – Standard Chartered will lead sponsor the Sri Lanka Investment Summit to be held In Singapore on 15 March 2016. This inaugural event, presented by FinanceAsia, will showcase and highlight the country to potential international investors. The event will build on the successes of previous investment forums organised by FinanceAsia for […]
Sri Lanka’s Carsons Cumberbatch December net up 66-pct
Feb 12, 2016 (LBO) – Sri Lanka’s Carsons Cumberbatch group profits rose 66 percent to 1.2 billion rupees in the December 2015 quarter from a year earlier, interim accounts showed. Carsons revenues were fell 9 percent to 20.6 billion rupees, while sales costs also fell 3 percent to 15.3 billion rupees, resulting in a gross […]
Aitken Spence records Rs. 1.1bn as PBT in third quarter
Leading conglomerate Aitken Spence PLC posted its interim results to the Colombo Stock Exchange (CSE) released on Friday. The blue-chip’s financial results for the quarter ended 31st December 2015 saw profit-before-tax decrease by 25.3 per cent to Rs. 1.1 bn while profit attributable to equity holders decreased by 26.7 per cent to Rs. 637 mn. […]