Category: Economy and Markets
Sri Lanka stocks close lower 0.04-pct: Continued loses in JKH and banks
Nov 27, 2015 (LBO) – Sri Lankan stocks closed down at 0.04 percent on Friday with losses in John Keells Holdings and some banks, brokers said. The Colombo benchmark All Share Price Index closed down 2.59 points at 6,960.78 down 0.04 percent. S&P SL20 closed 6.31 points lower at 3,698.69 down 0.71 percent. Turnover was […]
PTL Watch: Bonds within 15 years actively taken
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Intercompany employees union opposes funding VCs through EPF, ETF
Nov 27, 2015 (LBO) – Sri Lanka’s Inter-company Employees Union on Thursday opposed a budget proposal to create a venture capital structure using EPF and ETF funds. 2016 budget proposed a venture capital approach for providing equity financing facilities to SMEs through the establishment of a fund termed by Finance Minister as a “Fund of […]
Colombo International Financial Centre requires right talent: experts
Nov 27, 2015 (LBO) – Sri Lanka’s plans to set up an international financial district bodes well for financial sector development and should be set up with the right talent in place, experts said. “We have talked about this for many years, but this is a budget where we have heard for the first time […]
Sri Lanka stocks close down 0.7-pct: JKH losses
Nov 26, 2015 (LBO) – Sri Lankan stocks closed down at 0.67 percent on Thursday with losses in John Keells Holdings, brokers said. The Colombo benchmark All Share Price Index closed down 46.62 points at 6,963.37 down 0.67 percent. S&P SL20 closed 30.40 points lower at 3,705.30 down 0.81 percent. Turnover was 620 million rupees, […]
PTL Watch: Mixed interest in bonds, 5-8 year yields dip
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Several IPOs slated for CSE next year
Nov 25, 2015 (LBO) – Sri Lanka can expect three to four new IPOs on the Colombo Stock Exchange by the first quarter of next year, a CSE official told Lanka Business Online.“There are few IPOs in the pipeline,” he said.The CSE recently approved the IPO of People’s Insurance, a fully owned subsidiary of People’s […]
Colombo Stock Exchange moving ahead with CCP
Nov 26, 2015 (LBO) – The Colombo Stock Exchange is moving ahead with setting up the Central Counter Party institution for secondary market transactions, the bourse said on Thursday. This system will allow delivery upon settlement and establishing a derivatives market including short selling which will raise the Colombo bourse to international standards, Rajeeva Bandaranaike, […]
No tariff increase on utility bills due to VAT revision: Finance Ministry
Nov 26, 2015 (LBO) – Sri Lanka’s water, power, telecom will be exempted from value added tax and the prices of most essential goods will also be reduce according to budget 2016, finance ministry said in a statement.The wholesale and retail trade which was previously taxed at 11 percent has been exempt from VAT in […]
Budget flawed, no confidence motion against Fin Min: Balasuriya
Nov 26, 2015 (LBO) – Sri Lanka’s budget for 2016 proposed by the government is flawed and a no confidence motion will be brought against the finance minister, opposition member of Parliament Tharaka Balasuriya said.Among areas of concern include liberalization of tea imports, absence of support for rubber planters, the proposed merger of ETF and […]
Interest rates unchanged after monetary policy meeting
Nov 24, 2015 (LBO) – Sri Lanka’s Monetary Board held interest rates unchanged after a monthly policy meeting citing low inflation and a lack of necessity to change rates given loose monetary policy in the region. The Standing Deposit Facility Rate (SDFR) was held at 6.00 percent, the Standing Lending Facility Rate (SLFR) at 7.50 […]
Sri Lanka Budget lacks consolidation but reforms positive: Fitch
Nov 24, 2015 (LBO) – Sri Lanka’s 2016 budget, released on 20 November, provides no clear plan for fiscal consolidation over the medium term, Fitch Ratings said in a statement.The statement is reproduced below. Fitch Ratings Hong Kong/Singapore 24 November 2015: Sri Lanka’s 2016 budget, released on 20 November, provides no clear plan for fiscal consolidation over the medium […]