Category: Economy and Markets
Exercising of JKH 2015 warrants to commence from 29 Sept
Sep 07, 2015 (LBO) – Sri Lanka’s conglomerate John Keells Holdings on Monday said the exercising of 2015 warrants of the company will commence from 29 September till the expiration date of 12 November 2015.The purchase price of a warrant is 161.87 rupees per ordinary share, and each warrant shall entitle the warrant holder to […]
Sri Lanka’s first smart city to be Kandy
Sep 07, 2015 (LBO) – Sri Lanka’s central city Kandy will be developed as the first ‘Smart City’ in the island, Rauf Hakeem, new Minister of Town Planning and Water Resources said in a media report. “India under a plan of the Indian Prime Minister Narendra Modi has already begun forming smart cities and the […]
Sri Lanka stocks close down 0.9-pct
Sep 07, 2015 (LBO) – Sri Lankan stocks closed down 0.91 percent on Monday for the second consecutive session amid notable depreciation in rupee with losses across the board, brokers said. The Colombo benchmark All Share Price Index closed down 65.41 points at 7,149.70, lower 0.91 percent. S&P SL20 closed 26.83 points lower at 3,931.00 […]
Orient Finance gets Central Bank approval for listing, IPO
Sept 07, 2015 (LBO) – Orient Finance PLC says the Central Bank of Sri Lanka has granted it approval to list shares on the Colombo Stock Exchange.The company said the listing would be by way of an Initial Public Offering, subject to approval from the Colombo Stock Exchange.Orient Finance was formerly known as Bartleet Finance.
Sri Lanka foreign reserves declined to USD6.4bn in Aug
Sep 07, 2015 (LBO) – Sri Lanka’s foreign reserves had declined to 6,466 million dollars by end August 2015, down from 6,887 million in July, Central Bank data showed.Foreign reserves in August is down 29 percent from 9,185 million dollar in August 2014.Sri Lanka received 1.1 billion dollars from the Reserve Bank of India under a […]
Depreciation will help some equity sectors, ease uncertainty: Bartleet Religare
Sept 06, 2015 (LBO) – Sri Lanka’s depreciation last week will help export-related stocks and banks listed on the market, Bartleet Religare Securities said. From a foreign investors’ point of view, the depreciation takes away uncertainty that has been weighing on the market. “Foreign investors saw the devaluation coming and some did exit. Others didn’t […]
Foreign holding of Sri Lanka govt securities falls during week
Sept 05, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors reduced to 350 billion rupees in the week to September 02, from 375 billion rupees in the previous week, information from the central bank showed.Foreign investors held 457 billion rupees worth of government securities at the beginning of the year. […]
‘t allow artificial devaluation, high interest rates
Sep 04, 2015 (LBO) – Sri Lanka’s newly appointed Finance Minister Ravi Karunanayake says an artificial devaluation of the rupee will not be allowed, and he will push for low interest rates in the future.“There are realistic situations in the world we have got to face today, but that does not mean that we will […]
Sri Lanka stocks close down 0.4-pct: Low investor activity
Sep 04, 2015 (LBO) – Sri Lankan stocks closed down 0.42 percent on Friday with low investor activity and most of the banking sector stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed down 30.39 points at 7,215.11, lower 0.42 percent. S&P SL20 closed 22.63 points lower at 3,956.21 down 0.57 […]
Sri Lanka HNB Senior and Subordinated Debt gets AA-, A+ ratings :Fitch
Sep 04, 2015 (LBO) – Fitch Ratings has assigned Hatton National Bank proposed senior unsecured and subordinated debentures a expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) respectively. Full Statement follows: Fitch Ratings has assigned Hatton National Bank PLC’s (HNB; AA-(lka)/Stable) proposed senior unsecured and subordinated debentures expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) […]
Sri Lanka’s Bank of Ceylon to sell Rs8 bn debt, AA rating
Sep 04, 2015 (LBO) – Sri Lanka’s Bank of Ceylon, state run bank is to sell up to 8.0 billion rupees of 5 and 8-year subordinated debt which have given final National Long-Term Rating of ‘AA(lka)’, Fitch Ratings said. The full statement given below :- Fitch Ratings has today assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) […]
Update 2-Sri Lanka Central Bank may intervene less in forex: source
Sept 04, 2015 (LBO) – The Sri Lankan central bank may intervene less in the forex market by not quoting a specific level, a market source told Lanka Business Online, as the rupee opened lower against the dollar on Friday.Early on Friday, USD/LKR saw a transaction done at 136.75, after wide quotes and no trades. […]