Category: Economy and Markets
Sri Lanka to set standards for red clay roofing tiles upon asbestos ban
Nov 19 (LBO) – Sri Lanka is in the process of setting quality standards for red clay roofing tiles while increasing productivity to reduce cost of production upon the ban of asbestos roofing by 2018, an official said. “We have developed standards to cover red clay roofing tiles industry. We presented the draft standards to […]
Sri Lanka Treasury bill yields down; 6-month yield down 37 bps
Nov 18, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down on Wednesday’s auction with the 6-month yield dropping 37 basis points to 6.50 percent, data from the state debt office showed.12-month Treasury bill yields were down by one basis point to close at 6.93 percent and the three month bills were not offered […]
Sri Lanka corporates hope for business friendly budget
Nov 18, 2015 (LBO) – Sri Lanka’s business community is looking foward to budget proposals that support the rapidly changing dynamics of the economy and address the budget deficit, private sector officials said.Restructuring the state sector is a key priority that should be addressed, although this requires decisive action by administrators, rather than budget proposals […]
Sri Lanka stocks close higher 0.06-pct: Budget concerns
Nov 18, 2015 (LBO) – Sri Lankan stocks closed higher at 0.06 percent on Wednesday with low turnover and volumes as investors kept on the side lines ahead of Friday’s government budget, brokers said. The Colombo benchmark All Share Price Index closed up 4.02 points at 6,981.97 higher 0.06 percent. S&P SL20 closed 3.95 points […]
PTL Watch: Buying interest in short tenor and long tenor bonds
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Laugfs eyes Asian market with USD80mn LPG terminal, 10 ships
Nov 18, 2015 (LBO) – Sri Lanka’s Laugfs group plans to expand into Asian waters more aggressively with the launching of its planned LPG terminal to be built at Hambantota port, the group chairman said. “We are now aggressively working to become a leading LPG player in other Asian markets, and with this significant investment […]
Sri Lanka stocks close up 0.2-pct: Gains in blue chips
Nov 17, 2015 (LBO) – Sri Lankan stocks closed up at 0.17 percent on Tuesday recovering from its four month low due to price increases in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed up 11.97 points at 6,977.95 higher 0.17 percent. S&P SL20 closed 9.30 points higher at […]
PTL Watch: Yield curve ticks up in thin trade
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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 […]
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 […]
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 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 […]