Category: Economy and Markets
Op-Ed on Sri Lanka Budget – Is Sri Lanka’s Fiscal House in Order?
(Todd Schneider is the head of IMF’s staff missions to Sri Lanka) By Todd Schneider Constructing a good budget is like building a good house. The foundation needs to be solid, high-quality materials make a big difference to durability, and careful craftsmanship will bring both stability and confidence to weather future storms. Similarly, budgets needed […]
Two individuals arrested over misuse of funds at SEC: Police
Nov 04, 2015 (LBO) – Sri Lanka’s Criminal Investigations Division has arrested two individuals, including a Securities and Exchange Commission (SEC) official, over the misuse of funds in 2013, the Police Spokesman said.The investigation is into financial irregularities of 5 million rupees from 2013 involving the Tharunyata Hetak Fund.In May, the CID questioned several officials […]
Sri Lanka stocks close down 0.2-pct: Net foreign outflow
Dec 04, 2015 (LBO) – Sri Lankan stocks closed down 0.16 percent with losses in index heavy stocks amid low investor activity, brokers said. The Colombo benchmark All Share Price Index closed down 11.10 points at 6,869.56 down 0.16 percent. S&P SL20 closed 7.54 points lower at 3,638.56 down 0.21 percent. Turnover was low at […]
Sri Lanka equity earnings down 6 pct in Q3 on diversifieds, telcos: CT CLSA
Dec 04, 2015 (LBO) – Sri Lanka equity market earnings declined 6 percent in the third quarter of this year largely due to lower earnings in diversified and telecommunications sectors, CT CLSA said in a research report. A slowdown in banking, finance and insurance added to this performance, the securities firm said. On a twelve-month […]
Hemas eyes state-owned Lanka Hospitals Corporation
Dec 04, 2015 (LBO) – Sri Lanka’s diversified conglomerate Hemas Holdings has expressed interest in acquiring a stake of state-owned Lanka Hospitals Corporation.In a stock exchange filing the company said they noted the interest expressed by the Government in disposing of shares in ventures such as Lanka Hospitals Corporation PLC. “Hemas as a group has […]
PTL Watch: Little activity in secondary bond market
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IMF looking at Sri Lanka options, fiscal consolidation key: IMF
Nov 04, 2015 (LBO) – Sri Lanka’s government has expressed interest in a IMF-supported program as one option to address balance of payments pressures, the resident representative of the IMF told Lanka Business Online.“IMF staff is considering options for Sri Lanka, which would depend on our assessment of macroeconomic vulnerabilities, the nature and size of […]
Blue Diamonds to call EGM to use Right Issue to pay salaries
Dec 04, 2015 (LBO) – Sri Lanka’s Blue Diamonds is to call an Extraordinary General Meeting to obtain approval to use part of their Rights Issue funds to pay staff salaries. In a stock exchange filing the company that exports diamond studded gold jewellery said some major shareholders agreed to allocate funds for working capital […]
Sri Lanka’s CSE to see infrastructure bonds and REITs soon
Dec 04, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) chief said that new products in the form of infrastructure bonds and REIT’s will be introduced to broaden and add depth to the islands debt markets.“New products need be brought in, Sri Lanka’s debt market needs to be broadened and depth needs to be […]
Sri Lanka’s stock exchange adopts global classification standard
Dec 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) said it is adopting the Global Industry Classification Standard (GICS) to classify its listed companies along with S&P/CSE cobranded sector indices. The Global Industry Classification Standard (GICS®) was jointly developed by Standard & Poor’s and MSCI Barra to meet the global financial community’s need […]
Sri Lanka stocks close up 0.3-pct
Dec 03, 2015 (LBO) – Sri Lankan stocks closed up at 0.26 percent after sixth straight day of losses backed by gains in index heavy and some banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed up 17,87 points at 6,880.66 up 0.26 percent. S&P SL20 closed 9.93 points higher at 3,647.68 […]
PTL Watch: Bond yields tick up 5bp on profit taking
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