Category: Economy and Markets
Sri Lanka’s JKH’s net up 31 pct in September quarter
Nov 04, 2015 (LBO) – Sri Lanka’s diversified conglomerate John Keells Holdings profits rose 31 percent to 3.47 billion rupees in the September 2015 quarter from a year earlier, with revenues up by five percent to 22.68 billion rupees, the interim accounts showed.The firm reported basic earnings of 3.05 rupees per share for the quarter […]
Sri Lanka needs a tax intelligence unit to adapt to economy: Treasury Secy
Nov 04, 2015 (LBO) – Sri Lanka needs to establish a tax intelligence unit to identify economic changes and developments taking place and adapt these changes into the tax structure of the country, Treasury Secretary R H S Samaratunga told a forum. “What lacks in Sri Lanka’s tax system is recognizing economic changes that take place […]
Tea Smallholder Factories profit drops in Sept quarter
Nov 03, 2015 (LBO) – Sri Lanka’s Tea Smallholder Factories’ made a quarter net loss of 13 million rupees down from 3.4 million rupees profit in the same quarter last year, according to interim results sent to the Colombo Stock Exchange. The company, in which conglomerate John Keells Holdings and tea exporter Akbar Brothers have […]
Sri Lanka stocks close down 0.4-pct: Turnover 14 week low
Nov 03, 2015 (LBO) – Sri Lankan stocks closed down at 0.41 percent on Tuesday for a fourth consecutive day with turnover reaching a 14 week low on lack of direction, brokers said. The Colombo benchmark All Share Price Index closed down 28.66 points at 7,000.41 lower 0.41 percent. S&P SL20 closed 8.76 points lower […]
PTL Watch: Long tenor maturities drop 40 basis points
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ICRA Lanka assigns A+ rating for Access debenture issue
Nov 03, 2015 (LBO) – ICRA Lanka has assigned a rating of A+ with a stable outlook for the proposed 5 billion rupees debenture issue of Access Engineering. The rating announcement is reproduced below. ICRA Lanka has assigned a rating of [SL]A+ (pronounced S L A plus1) with a stable outlook to the proposed LKR […]
Sri Lanka targets revolutionary budget, Tax revenue should be increased: Ravi K
Nov 03, 2015 (LBO) – Sri Lanka’s tax revenue needs to be increased and expanded into more regions as the government may face difficulties in going ahead with low revenue generation, Finance minister told a forum on Monday. “We are planning a radical and revolutionary budget and tax is a main component,” Ravi Karunanayake, finance minister of […]
Sri Lanka’s Sunshine Holdings Sept group net up 8-pct
Nov 03, 2015 (LBO) – Sri Lanka’s Sunshine Holdings group said September 2015 quarter net profit grew eight percent to 171 million rupees from a year ago backed by gains made in healthcare and fast moving consumer goods business. “Growth in group revenue for the six months ending September 2015 was driven by the healthcare […]
Some dollars flowing back into emerging market bonds
Nov 03, 2015 (LBO) – Despite a slowdown in China which led to selling of emerging market bonds over the last two years, some investors are getting back in, a media report said. Investors such as Eaton Vance and HSBC Asset Management have added to their exposure to emerging markets. Bonds in local currency from […]
Sri Lanka taxes to go online
Nov 03, 2015 (LBO) – Sri Lanka plans to increase revenue collection by setting up a platform for the public to pay taxes through an online based system, the Commissioner General of Inland Revenue said.“Tax is the price we pay for the country we want,” Kalyani Dahanayake, commissioner general of Inland Revenue of Sri Lanka […]
Sewage line caused delay in construction: Nawaloka Hospitals
Nov 02, 2015 (LBO) – Sri Lankan health care provider Nawaloka Hospitals on Monday said a proposed construction work has been delayed due to a detection of an underground sewage line under Nawaloka Hospitals. The company raised 1.5 billion rupees through a debenture issue in 2013 partly to build a multi-storey building with car park, […]
Sri Lanka stocks close down 0.2-pct: Low investor activity
Nov 02, 2015 (LBO) – Sri Lankan stocks closed down at 0.18 percent on Monday following losses in some index heavy stocks with low investor activity and volumes traded, brokers said. The Colombo benchmark All Share Price Index closed down 12.99 points at 7,029.07 lower 0.18 percent. S&P SL20 closed 6.21 points lower at 3,796.79 […]