Category: Economy and Markets
Germany’s Bosch commences operations in Sri Lanka, eyes construction boom
Oct 20, 2015 (LBO) – Bosch, a leading German supplier of technology and services, commenced operations in Sri Lanka to meet the increasing demand seen in the infrastructure sector, a senior official said. “The inauguration of our new office marks an important milestone for our business expansion in the South Asian region,” Steffen Berns, managing […]
Sri Lanka’s budget deficit around 6.8-pct in 2015: Finance Minister
Oct 20, 2015 (LBO) – Sri Lanka’s budget deficit will be around 6.8 percent of GDP for this year, higher than the budgeted 4.4 percent, Finance Minister Ravi Karunanayake said. The IMF mission concluding its visit to Sri Lanka last month said it projects a budget deficit of 5.5 to 6 percent of GDP in […]
‘s Upul Jayasuriya
Oct 19, 2015 (LBO) – Sri Lanka has five billion US dollar worth of investments in the pipeline and the main goal of the island’s investment promotion office is to facilitate those investments, the Board of Investment (BOI) Chief told a forum held in Colombo. “Our main goal is to facilitate these investments,” Upul Jayasuriya, […]
Sri Lanka to increase maximum Treasury bill limit by Rs400bn tomorrow
Oct 19, 2015 (LBO) – Sri Lanka’s Finance Ministry is to present a resolution in parliament tomorrow to increase the current Treasury bill limit by 400 billion rupees. The cabinet approved the proposal last month to increase the limit from 850 billion rupees to 1,250 billion rupees. The parliament earlier approved that the maximum borrowing […]
Sri Lanka stocks close lower 0.05-pct ahead of monetary policy review
Oct 19, 2015 (LBO) – Sri Lankan stocks closed down on Monday for a fifth consecutive day ahead of the governments monetary policy review, brokers said. The Colombo benchmark All Share Price Index closed lower 3.39 points at 7,017.35 down 0.05 percent. S&P SL20 closed 9.56 points lower at 3,783.27 lower 0.25 percent. Turnover was 1.2 […]
PTL Watch: Bond yields edge up amid more foreign selling
[pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/10/Copy-of-19th-October-2015.pdf%22]
CSE to promote Sri Lanka with Zurich, London roadshows this month
Oct 19, 2015 (LBO) – The Colombo Stock Exchange will promote the Sri Lankan market with two roadshows in Zurich and London this month. A breakfast meeting in Zurich on October 28 and an investor forum in London on October 29-30 will have representatives of Sri Lankan brokerages and the financial sector with the attendance […]
Poll: Central Bank expected to hold interest rates unchanged
Oct 16, 2015 (LBO) – Sri Lanka’s Central Bank is expected to hold interest rates unchanged at the monthly monetary policy announcement on Tuesday, market participants told Lanka Business Online. A poll of 13 market participants showed 12 expected no change in policy interest rates, while one expected a 25 to 50 basis point hike […]
Sri Lanka stocks close down 0.1-pct with foreign inflow
Oct 16, 2015 (LBO) – Sri Lankan stocks closed down on Friday for a fourth consecutive day with turnover at a one month low, brokers said. The Colombo benchmark All Share Price Index closed down 9.71 points at 7,028.74 down 0.14 percent. S&P SL20 closed 9.42 points lower at 3,773.71 lower 0.25 percent. Turnover w as […]
Janashakthi rights issue approved for AIA General acquisition
Oct 16, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance received the formal go ahead from its shareholders to raise over 3.357 billion rupees by way of a rights issue of over 181.5 million rupees new ordinary shares at its Extraordinary General Meeting (EGM) held on Friday to fund acquisition of AIA insurance, the company said in a statement. Under this rights issue, Janashakthi will be issuing […]
PTL Watch: Profit taking corrects steep drop in bonds
[pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/10/Copy-of-16th-October-2015-1.pdf%22]
Sri Lanka sells USD330mn of one, three and five year development bonds
Oct 16, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 75 million US dollars have been oversubscribed with 407.25 million US dollars of bids received from investors.The central bank has accepted 277.50 million US dollars in one year bond at a floating rate of weighted average margin (bps) over six month […]