Category: Economy and Markets
Sri Lanka’s Expolanka net up 28-pct in June quarter
Aug 06, 2015 (LBO) – Group profits at Expolanka Holdings with interest in logistics rose 28 percent to 222 million rupees in the June quarter from a year ago showing strong growth in freight and logistics business, the company said in a stock exchange filing. Earnings per share rose to 11 cents in the quarter […]
Sri Lanka’s President assures support and freedom for private sector to engage in businesses
Aug 06, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena assured fullest support for private sector businesses to operate freely while government would build strong relations with other countries which would help trade and investment.“The government and private sector should share a bond, friendliness, trust and transparency to develop the economy.I believe the government should […]
‘s Fitch Affirms Ceylon Dollar Bond Fund at BB-/V-5
Aug 05, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ with a Fund Volatility Rating of ‘V-5’. The full text of the announcement is reproduced below. Fitch Affirms Ceylon Dollar Bond Fund at ‘BB-‘/’V-5’ Fitch Ratings-London/Colombo-05 August 2015: Fitch Ratings has affirmed Ceylon Dollar Bond […]
Sri Lanka stocks close up 0.8 -pct: Six-month high
Aug 05, 2015 (LBO) – Sri Lanka’s stocks closed up 0.77 percent on Wednesday, with the market picking up after losses yesterday and positive investor sentiment due the upcoming parliamentary polls, brokers said. The Colombo benchmark All Share Price Index closed 56.26 points higher at 7,366.31 up 0.77 percent. The S&P SL20 closed 10.39 points […]
Sri Lanka’s six and twelve months Treasury bill yields up
Aug 05, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with the 6-month yield up 07 basis points to close at 6.50 percent, data from the state debt office showed. 12-month yield was up 06 basis points to close at 6.54 percent. The debt office of the Central Bank has […]
Sri Lanka should have simple, clear, predictable economic policies: Razeen Sally
Aug 05, 2015 (LBO) – Sri Lanka should have policies that are simple, clear and predictable for the economy to move ahead rather than a plethora that hold businesses back, an economist said. “Simplicity is the key,” Razeen Sally, an Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore, […]
Sri Lanka should move on to next generation of reforms to achieve USD50bn export target: PM
Aug 04, 2015 (LBO) – Sri Lanka has to move towards the next generation of reforms, opening up factor and product markets while fasting government approval procedures that gives are a hindrance to businesses, Prime Minister Ranil Wickremesinghe said. “Firstly it’s the question of mindset. The change of mindset in the private sector.From crony capitalism […]
Sri Lanka stocks close down 0.4 -pct
Aug 04, 2015 (LBO) – Sri Lanka’s stocks closed down 0.36 percent on Tuesday, following four straight days of gains and profit taking by investors, brokers said. The Colombo benchmark All Share Price Index closed 25.05 points lower at 7,310.05 down 0.36 percent. The S&P SL20 closed 16.06 points lower at 4,072.63 down 0.39 percent. […]
Sri Lanka sells Rs25.7bn in 06 and 10 year treasury bonds
Aug 04, 2015 (LBO) – The issue of treasury bonds amounting to 20.00 billion rupees have been oversubscribed with 105.9 billion rupees of bids received from investors. The Central Bank has accepted 11.4 billion rupees of 06 year bonds maturing on 01 August 2021 at a weighted average yield rate of 9.07 percent. The bond […]
Sri Lanka to build economic development zones to encourage investments
Aug 04, 2015 (LBO) – Sri Lanka is planning to build economic development zones grouping about four investment zones to encourage investment and support 50 billion US dollars export target, Prime Minister Ranil Wickramasinghe said. “In order to ensure that there are large investors coming in to the country, we are having economic development areas,” […]
Sri Lanka’s Haycarb profit margins pressed by downturn in gold mining industry
Aug 04, 2015 (LBO) – Sri Lankan coconut shell-based activated carbon manufacture Haycarb’s June 2015 quarter profits rose 4 percent to 135 million rupees from 130 million rupees last year, the interim accounts filed with the stock exchange revealed.Haycarb PLC Managing Director Rajitha Kariyawasan said that the downturn in the gold mining industry coupled with […]
‘s Ceylon Chamber economic policy forum kicks off
Aug, 04, 2015 (LBO) – Sri Lanka’s Economic Summit 2015, with the participation of Sri Lanka’s President Maithripala Sirisena and Ranil Wickremesinghe will kick off Tuesday (04), in capital Colombo.The forum will cover national vision including: Policy Implementation and Perspective, A New Global Economic Strategy for Sri Lanka, Driving Exports – Use of Social Media […]