Category: Economy and Markets
Poll: Central Bank expected to hold interest rates unchanged
Oct 16, 2015 (LBO) – Sri Lanka’s Central Bank is expected to hold interest rates unchanged at the monthly monetary policy announcement on Tuesday, market participants told Lanka Business Online. A poll of 13 market participants showed 12 expected no change in policy interest rates, while one expected a 25 to 50 basis point hike […]
Sri Lanka stocks close down 0.1-pct with foreign inflow
Oct 16, 2015 (LBO) – Sri Lankan stocks closed down on Friday for a fourth consecutive day with turnover at a one month low, brokers said. The Colombo benchmark All Share Price Index closed down 9.71 points at 7,028.74 down 0.14 percent. S&P SL20 closed 9.42 points lower at 3,773.71 lower 0.25 percent. Turnover w as […]
Janashakthi rights issue approved for AIA General acquisition
Oct 16, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance received the formal go ahead from its shareholders to raise over 3.357 billion rupees by way of a rights issue of over 181.5 million rupees new ordinary shares at its Extraordinary General Meeting (EGM) held on Friday to fund acquisition of AIA insurance, the company said in a statement. Under this rights issue, Janashakthi will be issuing […]
PTL Watch: Profit taking corrects steep drop in bonds
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Sri Lanka sells USD330mn of one, three and five year development bonds
Oct 16, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 75 million US dollars have been oversubscribed with 407.25 million US dollars of bids received from investors.The central bank has accepted 277.50 million US dollars in one year bond at a floating rate of weighted average margin (bps) over six month […]
Sri Lanka to cut food import bill by manufacturing locally
Oct 16, 2015 (LBO) – A National Programme on Food Production is being planned by the government of Sri Lanka with the contribution of all the ministries and institutions with an estimated cost of 15,595 million rupees to minimize the expenditure on imports by producing the utmost amount of food in Sri Lanka. Cabinet Spokesman […]
Sri Lanka changes the scope of work of OCH again
Oct 15, 2015 (LBO) – Sri Lanka’s government has changed the scope of work for phase III of the Outer Circular Highway (OCH), from Kerawalapitiya to Kadawatha, which is about 9.32 kilometers, the Cabinet Spokesman told reporters at a media briefing held in Colombo. The Cabinet of Ministers approved the award of the above contract […]
Sri Lanka stocks close down 0.1-pct at three-month low
Oct 15, 2015 (LBO) – Sri Lankan stocks closed down on Thursday for a third consecutive day with economic and budget concerns keeping investors away, brokers said. The Colombo benchmark All Share Price Index closed down 9.87 points at 7,030.45 down 0.14 percent. S&P SL20 closed 1.96 points lower at 3,783.13 lower 0.0.05 percent. “Lack of […]
PTL Watch: Sri Lanka bond yields drop, some profit taking
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Sri Lanka stocks close down 0.5-pct
Oct 14, 2015 (LBO) – Sri Lankan stocks closed down on Wednesday with continued losses in index heavy and banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed down 38.13 points at 7,040.32 down 0.54 percent. S&P SL20 closed 32.33 points lower at 3,778.88 lower 0.85 percent. “Investors are still keeping to […]
Sri Lanka’s Treasury bill yields drop across maturities; 12 month yield down 08bps
Oct 14, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down across maturities at Wednesday’s auction with the 12-month yield dropping 08 basis points to close at 7.10 percent, data from the state debt office showed. 3-month yields were down by 05 basis points to close at 6.73 percent while 6-month yields were down […]
PTL Watch: Bond yield curve drops 30-35 basis points
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