Category: Economy and Markets
Dialog Axiata says no agreement to
Dec 03, 2015 (LBO) – Sri Lanka’s fixed and mobile telco operator Dialog Axiata said on Thursday that it has not entered into an agreement with any party to merge or acquire Airtel.“Dialog has been a consistent proponent of market consolidation and in the normal course of business evaluates opportunities, both organic and inorganic, to […]
Sri Lanka PM calls on middle class to invest in stock market
Dec 03, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe said that the island’s mid income earners should be confident and not afraid to invest in the Colombo Stock Exchange.“The middle class must have a bigger stake in the shareholding in this country,” he said. “Over the last five years, there has been a […]
We are in ‘Nonagathaya,’ New Year is on the way: Prime Minister
Dec 03, 2015 (LBO) – Sri Lanka is still in the period of making strategies to move forward and the country might have to generate additional revenue next year to pay contingent liabilities, Prime Minister Ranil Wickremesinghe said.“The budget is very much like a Sinhalese new year. Before the New Year comes you give a […]
Sri Lanka state sector asked to generate revenue for national economy: PM
Dec 03, 2015 (LBO) – Sri Lanka’s state-owned enterprises have to perform better towards contributing to the national economy, Prime Minister Ranil Wickremesinghe said.“Our first focus is on the state enterprise and we will ensure that there is better performance in the state enterprises in the coming few years,” he said. “We are keeping the […]
Sri Lanka’s 2016 budget passed with a majority of 107 votes
Dec 02, 2015 (LBO) – Sri Lanka parliament on Wednesday passed the second reading of the Appropriation Bill for next year by a majority of 107 votes. The 2016 budget passed with 159 members of the parliament voting in favor and 52 opposing it and 13 absent. UNP and TNA voted in favor of the […]
Sri Lanka Treasuries yields fall
Dec 02, 2015 (LBO) – Sri Lanka’s 6-month Treasuries yields fell 10 basis points to 6.30 percent at Wednesday’s auction, data from the state debt office showed.The 12-month yield fell six basis points to 6.86 percent while the three-month yield was down 38 basis points to 6.06 percent. The debt office offered 6 billion worth […]
Sri Lanka stocks close down 0.5-pct: Institutional activity
Dec 02, 2015 (LBO) – Sri Lankan stocks closed down at 0.47 percent for the sixth straight day on Wednesday with losses in John Keells Holdings and some banking stocks, brokers said. The Colombo benchmark All Share Price Index closed down 32.40 points at 6,862.79 down 0.47 percent. S&P SL20 closed 13.54 points lower at 3,637.80 […]
Sri Lanka’s Prime Minister shows green light for port city after long haul back
Dec 02, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe today said the country plans to have a ‘unique financial and business district’ in Colombo when the sea reclamation project by a Chinese firm is resumed.“Hopefully if the Port City projects get underway, I think there will be some sort of landfill there that […]
Sri Lanka to consider IMF option next year: PM
Dec 02, 2015 (LBO) – Sri Lanka will consider a stand-by facility from the IMF next year, Prime Minister Ranil Wickremesinghe told parliament. “Next year will present a difficult economic environment. Sri Lanka could face an impact of the ISIS in the Middle East, in case the region is destabilized,” Wickremesinghe said “I think it […]
Sri Lanka’s Carsons to sell Malaysian, Indonesian plantations
Dec 02, 2015 (LBO) – Sri Lanka’s Carson Cumberbatch Group said four of it’s subsidiary would sell its Malaysian and Indonesian plantations subject to a feasibility study and approvals from regulators and shareholders. The four firms are Selinsing, Good Hope, Indo Malay and Shalimar, the Group said in separate stock exchange filling. “The firms also […]
PM awaits proposals from Central Bank and EPF on EPF, ETF merger
Dec 01, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe told Parliament Tuesday that they have decided to obtain proposals from Central Bank governor and superintendent of EPF with regard to the management of EPF. “During the discussions, unions said it is appropriate to maintain these two funds separately. They also said the EPF […]
PTL Watch: Dip in bond yields on thin volumes
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