Category: Economy and Markets
Sri Lanka’s rupee is way over sold, says technical analyst
Oct 28, 2015 (LBO) -Sri Lanka’s rupee which was floated in September is way over sold and won’t depreciate further, an analyst said. “The LKR has depreciated quite a bit in last 18 months. The effects may already be visible in your exports.But is it going to depreciate further?I don’t think so,” Akshay Chinchalkar, head […]
Sri Lanka 10-year sovereign bond gets orders over USD2.5 bn: report
Oct 27, 2015 (LBO) – Sri Lanka has opened a 10-year sovereign bond issue to international investors with a price guidance of 6.85 percent to raise at least 500 million dollars, media reports said. The initial price guidance of 7 percent was lowered with order books exceeding 2.5 billion dollars. In a statement on Tuesday […]
At treasury bond auction Rs45.4 bn bids accepted
Oct 26, 2015 (LBO) – Sri Lanka’s Treasury bond auction on Monday for 30 billion rupees in bonds received bids amounting to 129.7 billion rupees. The Central Bank accepted 45.4 billion rupees worth of bids. Bonds maturing on 15 September 2019 received 32.5 billion rupees in bids for seven billion rupees in bonds on offer. […]
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Oct 26,2015 (LBO) – Fitch Ratings has assigned Sri Lanka’s Sampath Bank PLC’s Base lI-compliant subordinated debentures of up to seven billion rupees , a final National Long-Term Rating of ‘A(lka)’.The final rating is the same as the expected rating assigned on 9 October 2015, and follows the receipt of documents conforming to information already received, the rating […]
Sri Lanka stocks close flat on six week low
Oct 26, 2015 (LBO) – Sri Lankan stocks closed higher 0.03 percent on Monday low volumes traded, brokers said. The Colombo benchmark All Share Price Index closed higher 1.99 points at7,083.48 up 0.03 percent. S&P SL20 closed 6.00 points higher at 3,827.83 higher 0.16 percent. Turnover was 481 million rupees, down from 1.1 billion rupees […]
PTL Watch: CBSL sells more than Rs45 bn bonds, demand builds
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Central banks may use negative interest rates as stimulus
Oct 26, 2015 (LBO) – Negative interest rates is a possibility in the United States following in the foot steps of interest rates pushed below zero in countries such as Sweden, Switzerland and Denmark, according to some analysts.Speaking in Colombo at the DFCC Economic Forum, Akshay Chinchalkar, head of charts and technical analysis for Bloomberg […]
India’s Sandal Lands mulls USD 25 mn FDI on Sri Lanka’s real estate
Oct 26, 2015 (LBO) – Sandal Lands (Pvt) Ltd of India said they are in talks with Sri Lanka’s urban development agency to seek opportunities to invest up to 25 million US dollars in residential or commercial property, looking at the strong growth prospects in island’s real estate market. The company plans to invest up […]
Janashakthi seals AIA’s general insurance business acquisition
Oct 26, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance PLC said that it sealed the acquisition of AIA General Insurance Lanka Limited with 3.2 billion rupee payment. With the financial aspects of the transaction now complete, Janashakthi will commence amalgamation of AIA General Insurance Lanka Limited with Janashakthi General Insurance Limited, the company said.“In line […]
Dividend tracker improves equity insights: SC Securities
Oct 24, 2015 (LBO) – Sri Lanka's SC Securities believes divided tracking is one way of gaining insights into equity performance in stocks listed on the Colombo Stock Exchange, especially with regard to past dividend payouts. In a report on 15 stocks, SC Securities shows how investors can track past dividend payouts. National Development Bank, […]
Sri Lanka stocks close up 0.2-pct
Oct 23, 2015 (LBO) – Sri Lankan stocks closed up 0.18 percent on Friday for a fourth consecutive day with gains in the leisure sector city hotels showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 12.64 points at 7,081.49 up 0.18 percent. S&P SL20 closed 6.48 points higher at 3,825.55 […]
Sri Lanka accounting body calls for fiscal consolidation
Oct 23, 2015 (LBO) – Sri Lanka’s main accounting body has called for critical fiscal consolidation plan for both the revenue and expenditure sides of the government.“The government needs reforms in terms of structural changes as well as changes in the revenue and the expenditure sides,” President of CA Sri Lanka, Arjuna Herath said. Herath […]