Category: Economy and Markets
Sri Lanka’s budget 2016 will make life easy for all: Ravi K
Nov 05, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake has said that the upcoming budget 2016 will make ordinary people’s life easy, especially the fixed wage earners.But 60 percent of the affluent class are not paying taxes. Accordingly, the economy needs to be properly structured, reformed and strengthened, Karunanayake said. The Budget 2016 […]
Sri Lanka targets budget deficit of 3.5-pct of GDP by 2020
Nov 05, 2015 (LBO) – Sri Lanka wants to reduce the budget deficit to 3.5 percent of gross national production in the medium term by 2020, the Prime Minister said.Prime Minister Ranil Wickremesinghe made this statement in Parliament a short while ago while presenting the new governments medium term economic framework. The Finance Minister Ravi […]
Sri Lanka stocks close up 0.2-pct: Blue chip gains
Nov 05, 2015 (LBO) – Sri Lankan stocks closed up at 0.20 percent on Thursday following a policy statement by the Prime Minister in the afternoon with gains in blue chip stocks, brokers said. The Colombo benchmark All Share Price Index closed up 13.82 points at 7,017.39 higher 0.20 percent. S&P SL20 closed 8.18 points […]
PTL Watch: Yields drop on mid to long tenor bonds
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Sri Lanka’s Treasury bill yields drop across maturities
Nov 04, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down across maturities on Wednesday’s auction with the 3-month yield dropping 17 basis points to close at 6.44 percent, data from the state debt office showed.6-month yield was down by 12 basis points to close at 6.87 percent while the 12-month yield was down […]
Sri Lanka Chevron lubricants unit profits up 11 pct
Nov 04, 2015 (LBO) – Sri Lanka’s Chevron Lubricants Lanka Plc said profits in the September quarter rose 11 percent to 834 million rupees from a year earlier despite the shrinking of oil prices locally and globally.Chevron Lubricants Lanka PLC carries on the business of importing, blending, distributing and marketing of lubricant oils and greases. […]
Sri Lanka stocks close higher 0.05-pct: Lack of policy direction
Nov 04, 2015 (LBO) – Sri Lankan stocks closed 0.05 percent higher on Wednesday following four consecutive days of losses with continued low investor interest and volumes traded, brokers said. The Colombo benchmark All Share Price Index closed higher 3.16 points at 7,003.57 up 0.05 percent. S&P SL20 closed 2.13 points lower at 3,784.61 lower 0.06 […]
PTL Watch: More buying in bonds, CB holding of govt secs drop
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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 […]