Category: Markets
Asian shares and sterling skid, yen firms
June 13 (Reuters) – Asian shares and sterling skidded in early Asian trade on Monday and the perceived safe-haven yen rose, as investors fretted ahead of this week’s central bank meetings as well as Britain’s June 23 referendum on whether to remain in the European Union. Also adding to the grim U.S. mood, an man […]
Asian shares at near six week high on oil, Fed expectations
June 8 (Reuters) – Asian shares held near six-week highs on Wednesday, on a brightening outlook in the energy sector and hopes that the U.S. Federal Reserve will not raise interest rates in the coming months after a disappointingly weak U.S. jobs report. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat after hitting […]
Asia stocks hit 5-week high after cautious Yellen
June 7 (Reuters) – Asian shares hit a five-week high on Tuesday after Federal Reserve Chair Janet Yellen said U.S. interest rate hikes are likely on the way, held back any reference to the timing. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent while Japan’s Nikkei average firmed 0.2 percent. The Fed […]
IMF approves 36-month EFF facility of USD1.5 Bln to Sri Lanka
June 04, 2016 (LBO) – The Executive Board of the International Monetary Fund (IMF) has approved a 36-month Extended Fund Facility (EFF) to Sri Lanka for 1.5 billion dollars, to support the country’s economic reform agenda, the IMF said. The arrangement aims to meet balance of payments needs arising from a deteriorating external environment and […]
Ethics crucial to business, says SEC Chairman Karunaratne
June 03, 2016 (LBO) – Ethics is crucial to business in the context of redefining our social order, Thilak Karunaratne, the chairman of Sri Lanka’s Securities and Exchange Commission said, speaking to the Junior Chamber International Biz Meet. It is imperative that we “redefine the current social order and revitalize our actions and thoughts in […]
SL Funds: Equity Unit Trusts now outperform market, says Guardian Acuity
May 27, 2016 (LBO) – There’s good news in fund management. Most of the professionally managed funds that invest in the Colombo market tend to outperform the market. In 2014, for instance, the Guardian Acuity Equity Fund, gave a return of 37.9 percent, compared with the All Share Price Index (ASPI) which rallied 23.4 percent. […]
Possible misappropriation of Rights Issue funds in Blue Diamonds: E&Y
May 26, 2016 (LBO) – The Securities and Exchange Commission of Sri Lanka has been informed that several irregularities in Blue Diamonds may point to the possible misappropriation of Rights Issue funds. The Ernst & Young which conducted a special purpose independent audit on an agreed upon procedure has revealed the possible commission of one […]
Sri Lanka’s John Keells Holdings net down 13-pct in 4Q, revenues flat
May 26, 2016 (LBO) – Sri Lanka’s diversified John Keells Holdings group net profits fell 13 percent to 4.5 billion rupees in the March 2016 quarter from a year earlier with flat revenues, the interim accounts showed. The firm reported basic earnings of 3.80 rupees per share for the quarter against 4.58 rupees reported a year […]
Sri Lanka’s Hayleys net up 49-pct in March 2016 quarter
May 25, 2016 (LBO) – Profits at Sri Lanka’s diversified Hayleys group surged 49 percent to 1.3 billion rupees in the March 2016 quarter amid strong net income growth, interim accounts showed. The group reported earnings of 17.57 rupees per share for the quarter, up from 11.83 rupees per share from a year earlier. Group […]
Sri Lanka’s John Keells Holdings to subdivide ordinary shares
May 24, 2016 (LBO) – Sri Lanka’s diversified John Keells Holdings has decided to subdivide ordinary shares of the company while making an adjustment to its warrants. The company said in a stock exchange filing, the directors have recommended a share subdivision where by every seven existing ordinary shares will be subdivided to eight ordinary shares. […]
Ravi K says Japan agrees USD2.5bn development loan to Sri Lanka
May 19, 2016 (LBO) – Finance Minister Ravi Karunanayake told Parliament Thursday that Japan has agreed to provide about 2.5 billion US dollars worth development policy loan to Sri Lanka. This has been revealed yesterday when Japanese Prime Minister Shinzo Abe’s Special Representative Hiroto Izumi called on Prime Minster Ranil Wickremesinghe, Finance Minister said.“Mr. Izumi also […]