Category: Economy and Markets
China devalues yuan by 1.9 pct against dollar
Aug 11, 2015 (LBO) – Calling it a one-time fix, China’s central bank devalued its tightly-controlled currency, the yuan, by 1.9 percent on Tuesday. The midpoint for the yuan is now set at 6.2298 against the dollar, compared with 6.1162 yuan on Monday, the lowest rate for the yuan against the US dollar in almost […]
Sri Lanka’s Hayleys Q1 profits up 42 pct to Rs522mn
Aug 11, 2015 (LBO) – Profits at Sri Lanka’s diversified Hayleys group rose 42.5 percent to 522 million rupees in the June 2015 quarter, interim accounts showed. The firm reported earnings of 6.97 rupees for the quarter 2015 compared to the last year earnings of 4.89 rupees on profits of 366 million rupees.The group revenue […]
Aitken Spence net down 44-pct amid energy sector losses and downturn in Maldives
Aug 10, 2015 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power generation, said profits in the June 2015 quarter dropped 44 percent to 420 million rupees from a year earlier. The group reported earnings of 1.04 rupees per share for the quarter, against the 1.84 rupees recorded in […]
Sri Lanka stocks close higher 0.10-pct
Aug 10, 2015 (LBO) – Sri Lanka’s stocks closed higher 0.10 percent on Monday, with gains in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed 7.34 points higher at 7,377.94 up 0.10 percent. The S&P SL20 closed 7.14 points higher at 4,104.36 up 0.17 percent. Turnover was 1.3 billion […]
Sri Lanka’s Balangdoa Plantations reports Rs75mn loss
Aug 10, 2015 (LBO) – Sri Lanka’s Balangoda Plantations, a unit of listed Distilleries Corporation, made a loss of 75 million rupees in the quarter to June, compared with the 57 million rupee profit made in the same quarter in 2014, hit by global price falls in rubber and tea, interim accounts showed. The firm […]
Sri Lanka’s PM says 2.5mn Freehold lands to come into market
Aug 10, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said, the government will provide freehold land titles for those who have enjoyed occupation of land under different government schemes since 1931. “We want to encourage small ownership, a strong middle class and this is why we will be giving full hold to the […]
Sri Lanka’s Dialog Axiata net up 15–pct in June quarter
Aug 07, 2015 (LBO) – Sri Lanka’s Dialog Axiata, which has interest in mobile, fixed telecom and pay television said group profits rose 15 percent to 1.90 billion rupees in June quarter from a year earlier. The group reported earnings of 23 cents per share for the quarter against 20 cents recorded a year ago.In […]
Sri Lanka stocks close lower 0.09-pct
Aug 07, 2015 (LBO) – Sri Lanka’s stocks closed lower 0.09 percent on Friday, with losses seen in some index heavy stocks and investors taking profits, brokers said. The Colombo benchmark All Share Price Index closed 6.64 points lower at 7,370.60 down 0.09 percent. The S&P SL20 closed 5.36 points higher at 4,097.53 up 0.13 […]
Sri Lanka Watawala Plantation profits drop; palm oil supports bottomline
Aug 07,2015 (LBO) – Sri Lanka’s Watawala Plantations said it made a profit of 131 million rupees in the June 2015 quarter, down 43 percent, compared with 231 million rupees in the same quarter last year, battered by declines in the tea sector.The firm reported earnings of 55 cents per share for the quarter, in […]
‘s Textured Jersey Lanka profits up 26-pct
Aug 07, 2015 (LBO) – Textured Jersey Lanka, a Hong Kong-Sri Lanka joint venture textile firm said group profits rose 26 percent to 206 million rupees in the June 2015 period from a year earlier, interim report showed. Revenue rose 3 percent to 2,761million rupees in the same quarter from 2,678 million rupees a year earlier. […]
”’ rating confirmed: S&P rating
Aug 07, 2015 (LBO) – Standard & Poor’s ratings has confirmed Sri Lanka’s ‘B+’ rating with a stable outlook, a statement said. “Foreign reserves will grow, external debt will fall in the next three years as risks associated with the country’s moderately weak external settings are mitigated by growing reserve buffers that improve Sri Lanka’s […]
Sri Lankan businesses should use digital space more, online payment gateways are to come: ICTA Chief
Aug 07, 2015 (LBO) – Sri Lankan businesses need to use digital space more as internet-powered shopping across national borders has created “modern spice routes” for merchants who tap into the booming trend, ICTA Chief said. “Do we have borders in this space? No. We have no boarders. We are open,” Muhunthan Canagey, Chief Executive […]