Category: Economy and Markets
PTL Watch: Slight tick upwards in yields on profit taking
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90-pct vehicle leasing facility to come into effect today
Oct 29, 2015 (LBO) – Sri Lanka’s Finance Ministry said that a 90 percent loan margin of leasing facility for motor vehicles will come into effect from Thursday.An official notice will be sent out to the government and private financial institutions today, the ministry said.From September 15, 2015, the 100 percent loan to value was limited […]
Browns Capital invest Rs407mn in Sri Lanka’s solar power plant
Oct 29, 2015 (LBO) – Browns Capital PLC had invested 407 million rupees in Saga Solar power private limited who are in the business of solar power to acquire a 50.10 percent equity, the company said in a filing to Colombo Stock Exchange.The firm said it bought 38.7 million shares of Saga Solar Power, who […]
U.S. Fed leaves open possible Dec rate hike
Oct 29, 2015 – (LBO) – The U.S. Fed has indicated that a December rate hike is a possibility outlining how economic activity has been expanding at a moderate pace.“In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress–both realized and expected–toward its objectives […]
Income security for older persons in Sri Lanka, a key future concern
Oct 29, 2015 (LBO) – Sri Lanka’s pension schemes need to be reevaluated as an adequate pension is essential to ensure income security for the elderly to support the fast growing aging population, an economist said.“Providing pension coverage for future older generations could be a challenge,” Nisha Arunatilake of Institute of Policy Studies of Sri […]
Sri Lanka’s sovereign bond issue oversubscribed by 2.2 times: Central Bank
Oct 28, 2015 (LBO) – Sri Lanka’s Central Bank on behalf of the Government has raised 1,500 million US dollars through a 10-year International Sovereign Bond issue on Tuesday. Final order books stood at 3.3 billion US dollars from 290 investor accounts, achieving an oversubscription ratio of 2.2 times. This marks Sri Lanka’s ninth US […]
Sri Lanka stocks close up 0.15-pct: Institutional buying
Oct 28, 2015 (LBO) – Sri Lankan stocks closed higher at 0.15 percent on Wednesday with gains in index heavy stocks and institutional buying and foreign investor activity, brokers said. The Colombo benchmark All Share Price Index closed up 10.61 points at7,094.09 up 0.15 percent. S&P SL20 closed 14.06 points higher at 3,841.89 higher 0.37 percent. […]
PTL Watch: Sovereign bond attracts local investors to bonds
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Sri Lanka Treasury bill yields down
Oct 28, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down on Wednesday’s auction, data from the state debt office showed.The 3-month yield was down to 6.61 percent with bids amounting to 30.8 billion rupees being received and it was decided to accept 3 billion rupees from the auction.The 06 month yield was also […]
Sri Lanka ranked 107 in ease of doing business index 2016
Oct 28, 2015 (LBO) – Sri Lanka was ranked 107 in the World Bank’s “Doing Business 2016” index, which measures the ease of doing business in 189 different countries, a report released by the bank on Tuesday revealed.Sri Lanka ranked 107th out of 189 countries in terms of ease of doing business for 2016.It was […]
Sri Lanka Watawala Plantation profits up; palm oil supports bottom-line
Oct 28, 2015 (LBO) – Sri Lanka’s Watawala Plantations said it made a profit of 141 million rupees in the September 2015 quarter, up 354 percent, compared with 31 million rupees in the same quarter last year, supported by palm oil segment. The firm reported earnings of 55 cents per share for the quarter, the […]
Sri Lanka raises USD1.5bn in Sovereign Bond issue: report
Oct 28, 2015 (LBO) – Sri Lanka has raised 1.5 billion dollars from a 10-year sovereign bond issued to international investors at 6.85 percent, a report said. The initial price guidance of 7 percent was lowered with order books exceeding 3.3 billion dollars. In May, Sri Lanka raised 650 million dollars via a 10-year sovereign […]