Category: Economy and Markets

Innovation crucial for Sri Lanka’s future success: ex central banker

Nov 17, 2015 (LBO) – Sri Lanka’s ability to invent and innovate will be vital for economic development and developed country status, a former central banker says.“The future of Sri Lanka will depend on the development of science and technology and how we combine inventions with innovations;” W.A. Wijewardena, former deputy governor of the Central […]

tokyo

Norway’s Wealth Fund buys a stake in Tokyo Cement

Nov 16, 2015 (LBO) – Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, has bought a stake in Tokyo Cement of Sri Lanka, the company’s interim filed in Colombo Stock Exchange shows. Norges Bank has bought 2,078,857 voting shares of Tokyo Cement, amounting to a 0.93 percent stake, and 6,269,466 non-voting shares […]

hotel

Ceylon Hotels Corp to construct a 50-room hotel in Maldives for USD27.7mn

Nov 16, 2015 (LBO) – Sri Lanka’s Ceylon Hotel Corporation said that it plans to construct a 50-room hotel in Maldives with an investment of 27.7 million US dollars. The company said that it has approved an acquisition of the entire shareholding of Ceylon Hotel Maldives (Pvt )Ltd (CHML) for a sum of 700,020 rupees […]

aitken-spence

Aitken Spence net down 38-pct amid fallen revenues

Nov 16, 2015 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power generation, said profits in the September 2015 quarter declined 38 percent to 361 million rupees from a year earlier.The group reported earnings of 0.89 rupees per share for the quarter compared with 1.43 rupees per share recorded […]

stocks-down-lbo

Sri Lanka stocks close down 0.5-pct: Banking and Telco losses

Nov 16, 2015 (LBO) – Sri Lankan stocks closed down at 0.51 percent on Monday with 18 week low as investors kept on the sidelines mainly on budget concerns and banking and telco stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed lower 35.83 points at 6,965.98 lower 0.51 percent. S&P […]

pin

Sri Lanka sets standard for plugs and socket outlets

Nov 16, 2015 (LBO) – Sri Lanka’s Public Utility Commission said that it has decided to create an enabling environment to systematically move to using one type of plug and socket outlet.The commission has decided that the Type G plug and socket outlet , widely known as the 13 ampere plug and socket outlet, commonly […]

stock-market

Analysis: Asian, Sri Lankan equities attractive on GARY valuation, says CLSA

Nov 14, 2015 (LBO) – Some equities offer dividend returns as well as earnings growth. Called Gary stocks, these are an attractive value proposition in an Asian context, Desh Peramunetilleke, the head of microstrategy for Asian brokerage and investment firm CLSA, said. “The growth at a reasonable yield, Gary strategy, has delivered strong returns globally,” […]

market-reports-up-lbo

Sri Lanka Telecom net down 70-pct in Sept

Nov 16, 2015 (LBO) – Sri Lanka Telecom said September 2015 quarter net profit fell 70 percent to 630 million rupees from 2014, interim accounts showed. The Company’s earnings per shares fell to 0.35 rupees for the September quarter from 1.15 rupees in 2014 while for the first nine months EPS fell 19 percent to […]

Tokyo-Stock-Exchange

Markets react to uncertainty after Paris attacks

Nov 16, 2015 (LBO) – World markets reacted to uncertainty on Monday after attacks in Paris that killed 129 people. The Nikkei was down 0.92 percent at 2.00 GMT with traditional safe-haven investments such as gold, the US dollar, and Japanese yen opening stronger.Gold was up 0.83 percent, the euro fell 0.5 percent against the […]

stocks-down-lbo

Sri Lanka stocks close lower 0.06-pct

Nov 13, 2015 (LBO) – Sri Lankan stocks closed down at 0.06 percent on Friday for a fourth consecutive session with more investor activity and volumes  compared to Thursday with losses in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 4.54 points at 7,001.81 lower 0.06 percent. S&P […]

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