Category: Economy and Markets
PTL Watch: Yields tick higher on foreign selling
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Norges Bank increases shareholding in Dialog Axiata
Feb 17, 2016 (LBO) – Norges Bank has increased its shareholding in Dialog Axiata PLC to 63.7 million shares as of end December, data filed with the Colombo Stock Exchange shows. Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, is now the sixth biggest shareholder in telecommunications company Dialog with a 0.8 […]
Sri Lanka’s five challenges for development: World Bank
Feb 16, 2016 (LBO) – Sri Lanka’s has five main challenges that need to be addressed In order to sustain progress and fulfill development potential, the World Bank said. Releasing the Systematic Country Diagnostic report for Sri Lanka the World Bank said the country has ample opportunities to build on its success due to its […]
Sri Lanka stocks close down 0.2-pct
Feb 16, 2016 – Sri Lanka’s stocks closed down at 0.19 percent with low investor activity and losses in Dialog Axaita and Hayleys, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 12.01 points down at 6,254.16 down 0.19 percent. The S&P SL20 closed 0.37 points down at 3,256.31 down 0.01 percent. Turnover […]
New capital adequacy requirements for stockbrokers: CSE
Feb 16, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) is in the process of implementing a Risk-based Capital Adequacy Requirement (CAR) for stockbroker firms replacing the minimum net capital requirement of 35 million rupees, pending approval of the SEC, a statement said. “The Risk-based Capital Adequacy Requirement would replace the minimum Net Capital […]
PTL Watch: Sri Lanka bond yield curve ticks higher
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Poverty in Sri Lanka down, revenue shortfall a concern: World Bank
Feb 16, 2016 (LBO) – Sri Lanka has reduced poverty to below 7 percent of the population but future prosperity will depend on addressing chronic revenue short falls and fostering a more competitive and inclusive economy, the World Bank said in research findings announced today. “The Sri Lanka poverty assessment has found that the falling […]
Global stocks rebound, eyes on Saudi, Russia Oil meeting
Feb 16, 2016 (LBO) – Global stocks rebounded on chances equity markets have been oversold with China opening up two percent after Japan’s seven percent surge on Monday. Negative interest rates in Japan pushed Japan’s government pension fund to consider making higher allocations to its equity market, as Mark Mobius said China’s irrational market now […]
Lanka IOC profits up 45-pct in December quarter
Feb 15, 2016 (LBO) – Profits at Lanka IOC, a unit of Indian Oil Company rose 45 percent to 882 million rupees in the December quarter, interim accounts showed. The firm reported earnings of 1.66 rupees per share in the quarter compared to earnings of 1.15 rupees per share posted a year ago. Revenue at […]
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 […]