Category: Economy and Markets
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 […]
Sri Lanka’s Access Engineering to raise Rs5bn from listed debenture
Nov 02, 2015 (LBO) – Sri Lanka’s construction giant, Access Engineering is to raise 5.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing.The company has decided to issue 30 million debentures at 100 rupees each with an option, to issue up to a further 20 million debentures in […]
Sri Lanka’s Carson Cumberbatch to purchase Equity One shares
Nov 02, 2015 (LBO) – Sri Lanka’s diversified Carson Cumberbatch on Monday said it intends to make an offer to purchase remaining Equity One ordinary shares at 77.50 rupees per share. Equity One announced today that they are to de-list its ordinary shares from the official list of the Colombo Stock Exchange subject to necessary […]
PTL Watch: Treasury bonds on high demand
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Finance Minister wants lower interest rates, IMF show of support
Nov 02, 2015 (LBO) – Sri Lanka’s Finance Minister has called for lower interest rates in the island and for the IMF to support the island’s development programme.Ravi Karunanayake said an IMF growth forecast of 5-5.5 percent for this year was too low, a media report from London said. He wants the Central Bank to […]