Category: Markets
‘s shareholding in JKH nears 10%
May 24, 2019 (LBO) – Harry Jayawardena, perhaps Sri Lanka’s wealthiest man, now controls close to 10% of the outstanding shares in Sri Lanka’s most important company. The latest published shareholder list of John Keells Holdings (JKH) states that Melstacorp PLC is a 9.8% shareholder in the company as of March 31, 2019. Jayawardena controlled […]
IMF wants SEC to streamline enforcement program; expedite high-profile criminal actions
May 23, 2019 (LBO) – International Monetary Fund (IMF) advises Securities and Exchange Commission of Sri Lanka (SEC) to streamline the current enforcement program and bring several high-profile criminal actions soon that will have a positive impact on the public’s confidence in the SEC as a regulator. Releasing the technical assistance report for enhancing the […]
Sri Lanka official reserves fall to USD 7.2bn by end April; YTD rupee appreciation 3.7-pct
May 18, 2019 (LBO) – Sri Lanka’s gross official reserves were 7,212.7 million US dollars by the end of April, down from 7,621.9 million US dollars in March, latest Central Bank data showed. By the end of April, foreign currency reserves were 6,325.2 million dollars while the reserve position in the IMF was 66.3 million […]
‘s stocks as EPF enters the market
May 17, 2019 (LBO) – Foreign institutional investors were net sellers of Sri Lankan equities for the past three consecutive days as the country’s largest pension fund entered the market after a long hiatus. Net foreign selling in Sri Lanka’s stock market was approximately Rs1.3bn (US$7.5mn) for the past week. Year to date net foreign […]
CBSL to resume FX purchases to rebuild net intl reserves to USD6.9bn by end Dec
May 17, 2019 (LBO) – Sri Lanka’s Central Bank said it is committed to rebuild reserves and allow the exchange rate to function as the first line of defense to external shocks. As per the memorandum of economic and financial policies contained in the Letter of Intent to the IMF, the Central Bank has recognized […]
Foreigners flee Sri Lankan bonds with Rs11bn outflows this week
May 10, 2019 (LBO) – Foreign institutional selling of Sri Lanka’s government bonds picked up pace in the past week with approximately Rs11bn (US$60mn) of net outflows. Total foreign investor holdings of Sri Lankan government bonds has now reached multiyear lows, with total foreign holdings at just over US0mn.The fallout from the Easter Sunday terror […]
‘s rupee weak as foreigners exit bonds after Easter Sunday terror
May 5, 2019 (LBO) – Money has started to flee Sri Lanka’s bond markets in the aftermath of the devastating ISIS inspired Easter Sunday terrorist attacks. A net of close to US$20mn has exited from Sri Lanka’s government bond market in the past week. Before the attacks, Sri Lanka was starting to see more positive […]
CSE sees Rs1.5bn net foreign inflow following 4% drop after terror attacks
April 26, 2019 (LBO) – The stock market in Sri Lanka has remained steady following an initial 4% drop in the broader indices after the Easter Sunday terror attacks which have so far claimed over 250 lives. In a surprising development, during the first week of trading since the market opened after the bombings, stocks […]
‘s Easter terror
April 24, 2019 (LBO) – Sri Lanka’s stocks seemed to find their footing by the close of today’s trading with the major indices finishing slightly up on relatively heavy volume. Most of the day’s trading was centered around market heavyweight John Keells Holdings (JKH), which traded close to 1% of its total outstanding shares worth […]
Sri Lanka stock market operations to resume from Tuesday
Apr 22, 2019 (LBO) – Colombo Stock Exchange in consultation with the Securities and Exchange Commission of Sri Lanka announced that the trading and related market operations will resume from Tuesday the 23rd of April 2019.Accordingly, the pre-open session (Open Auction Call) on 23rd April 2019 will be from 9.00 a.m. to 10.30 a.m. and Regular […]
Central Bank launches roadmap for sustainable finance in Sri Lanka
Apr 11, 2019 (LBO) – Central Bank of Sri Lanka launched a Roadmap for Sustainable Finance in Sri Lanka on 10 April 2019 at the Sustainable Banking Network Global Meeting of the International Finance Corporation (IFC) in Washington.This Roadmap provides a broad direction to financial regulators and financial institutions to effectively manage environmental, social and governance (ESG) […]
Policy rates could be reduced in future if current trends continue: Central Bank
Apr 08, 2019 (LBO) – Monetary Board of the Central Bank today said that they are of the view that, if the current trends in global financial markets, trade balance, and credit growth continue, policy interest rates could be reduced in the period ahead, given well-anchored inflation and inflation expectations. Projections, as well as inflation expectations, […]