Category: Economy and Markets
PTL Watch: Little activity, bond yields tick higher
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Sri Lanka exports fall 6 pct in September, imports down 5-pct
Dec 08, 2015 (LBO) – Sri Lanka external trade continued to contract in September with exports falling 5.9 percent to 850 million US dollars and imports falling 5.1 percent to 1,583 million US dollars, compared to the same month last year, official data showed. The Central Bank said industrial exports fell 4.7 percent to 636 […]
Sri Lanka’s tea exports continue decline
Dce 08, 2015 (LBO) – Sri Lanka’s tea exports continued to decline in September 2015 severely affected by lower demand from main tea buyers in Russia and the Middle East reflecting declines in both export volume and export prices. Tea exports recorded a drop of 20.4 percent in September this year compared to the corresponding […]
Oil prices drop to near 7-year low after OPEC meeting
Nov 08, 2015 (LBO) – Crude oil prices fell six percent to a near seven-year low after OPEC showed no signs of addressing a supply glut following a meeting on Friday.Brent crude was at 40.95 dollars per barrel, rebounding 0.54 percent on Tuesday. A stronger dollar, on the likelihood of a US rate hike, also […]
Asiri Hospitals shows interest in buying Lanka Hospitals
Dec 07, 2015 (LBO) – Sri Lanka Softlogic‘s flagship hospital chain Asiri Hospitals Holdings Plc had shown interest in buying Lanka Hospitals stake, the company said in a filing to stock exchange. “Softlogic’s flagship hospital chain Asiri Hospitals Holding Plc being the leading private sector healthcare provider in Sri Lanka wish to announce that we […]
Sri Lanka stocks close down 0.2-pct: Low investor activity
Dec 07, 2015 (LBO) – Sri Lankan stocks closed down at 0.16 percent with low investor activity, brokers said. The Colombo benchmark All Share Price Index closed down 10.93 points at 6,858.63 down 0.16 percent. S&P SL20 closed 4.88 points lower at 3,633.68 down 0.13 percent. Turnover was at 388 million rupees, lower than the […]
Debt Report: Thin activity in Sri Lanka markets, liquidity surplus dips
Nov 07, 2015 (LBO) – There was thin activity in Sri Lanka’s bond market with foreign remittances balancing importer dollar demand in the currency market. Market eyes are on Fed policy meeting Dec 15-16, with Federal funds futures showing a 79-percent chance the Fed will end seven years of near-zero interest rates and about 50 […]
FCID arrests Nalaka Godahewa over misuse of SEC funds
Dec 07, 2015 (LBO) – Sri Lanka’s Police Financial Crimes Investigation Division has arrested Former Chairman of Securities and Exchange Commission, Dr. Nalaka Godahewa on charges of financial fraud involving five million rupees. The Police said he was arrested after arriving at the FCID on Monday morning to provide a statement. Two individuals including a […]
Commercial Credit Debenture Issue oversubscribed on opening day
Dec 07, 2015 (LBO) – Sri Lanka’s Commercial Credit and Finance PLC’s issue of up to 20 million rated, guaranteed, subordinated, redeemable five-year Debentures at a par value of 100 rupees each was oversubscribed soon after subscriptions were opened on Wednesday, the 3rd of December 2015, the company said in a media release. Accordingly the company […]
CSE sets mandatory rules on Related Party Transactions
Dec 07, 2015 (LBO) – The Colombo Stock exchange has mandated the rules relating to Related Party Transactions by all Listed Companies from 01 January 2016.Accordingly, section 9 of the CSE Listing Rules set out the relevant rules applicable in the event a listed entity enters into a related party transaction. The salient features of […]
Sri Lanka’s CSE eyes more global investors through new CCP
Dec 07, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) is aiming for more international investors by introducing a new risk management system through establishing a Central Counter Party (CCP) system, a senior official said.“We need to manage the risk of the CSE – this is an area that we are lacking in,” Vajira […]
Op-Ed on Sri Lanka Budget – Is Sri Lanka’s Fiscal House in Order?
(Todd Schneider is the head of IMF’s staff missions to Sri Lanka) By Todd Schneider Constructing a good budget is like building a good house. The foundation needs to be solid, high-quality materials make a big difference to durability, and careful craftsmanship will bring both stability and confidence to weather future storms. Similarly, budgets needed […]