Mar 31, 2016 (LBO) – Sri Lanka’s Central Bank said in a statement that the Hongkong and Shanghai Banking Corporation (HSBC) will cease to operate as a Primary Dealer from tomorrow.HSBC will, however, continue to function as a Dealer Direct Participant in scripless securities and transact in scripless securities on behalf of customers and maintain customer accounts in LankaSecure, the Central Bank said.&nb...
Thursday, March 31, 2016
Sri Lanka's GDP seen up 5.3-pct in 2016, investment to rise, says ADB
Mar 31, 2016 (LBO) – Sri Lanka’s gross domestic product (GDP) growth is expected to rise to 5.3 percent in 2016 as private sector investment picks up once fiscal reforms are committed , a new Asian Development Bank (ADB) report says.“Fiscal consolidation is to be put back on track by a revision of the 2016 budget,” said Tadateru Hayashi, Senior Country Economist at ADB’s Sri Lanka Resident Mission.“IMF support, once agreed, will protect against expected pressures from external imbalances as it builds international confidence...
Sri Lanka *market update* ASPI close up 0.51-pct, USD/LKR spot nxt 147.80/148.00
The ASPI gained sharply due to price gains in index heavy stocks like Carson Cumberbatch, Commercial Bank, Ceylon Tobacco Company, Aitken Spense and Ceylinco Insurance. Crossings were recorded in Aitken Spence, Renuka Foods (Voting) and Sunshine Holdings. Foreign investors were net sellers during the day. The All Share Price Index gained 30.9 points to close at 6,071.9(+0.5%), while the S&P SL20 Index gained 16.2 points to close at 3,204.4 (+0.5%). Total turnover for the day stood at 690.9 million rupees. Foreign...
Sri Lanka's unemployment at 4.3-pct in 4Q 2015
Mar 31, 2016 (LBO) – Sri Lanka’s statistics office said unemployment rate for the fourth quarter of 2015 has been estimated as 4.3 percent against the 5.0 percent reported for the third quarter of 2015.Releasing Sri Lanka’s Labour Force Survey results for the last quarter of 2015, Census and Statistics Department said estimated economically active population is about 8.9 million in the fourth quarter of which 64.5 percent are males and 35.5 percent are females.Labour force participation rate for the fourth quarter is 53.6 percent...
LANKA CENTURY INVESTMENTS (GREG) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/4161459413908_....
HAYCARB - DIVIDEND ANNOUNCEMENTS
HAYCARB PLC Company ID: - HAYC Date of Announcement: - 31.Mar.2016 Rate of Dividend: - Rs. 2.00 per share (Not liable to 10% dividend tax) / Interim Dividend Financial Year: - 2015/2016 XD: - 11.Apr.2016 Payment: - 25.Apr.2016 Share Transfer Book O...
RICHARD PIERIS AND COMPANY - DIVIDEND ANNOUNCEMENTS
RICHARD PIERIS AND COMPANY PLC Company ID: - RICH Date of Announcement: - 31.Mar.2016 Rate of Dividend: - Rs. 0.50 per share / Interim Dividend Financial Year: - 2015/2016 XD: - 11.Apr.2016 Payment: - 22.Apr.2016 Share Transfer Book O...
Wednesday, March 30, 2016
Sri Lanka plans to issue up to USD3 bln in international sovereign bonds
Mar 30, 2016 (LBO) – Sri Lanka plans to issue international sovereign bonds up to three billion dollars in 2016, the Central Bank said, in a request for proposals to appoint lead managers or book runners.“As per the approved Sovereign Bond programme of the Government of Sri Lanka (GOSL), Central Bank of Sri Lanka (CBSL) intends to issue International Sovereign Bonds (ISBs) up to USD 3,000 million in the international capital market in 2016,” a statement said.“The issuances in single or multiple tranches would be in US Dollar...
CENTRAL FINANCE COMPANY - DIVIDEND ANNOUNCEMENTS
CENTRAL FINANCE COMPNAY PLC Company ID: - CFIN Date of Announcement: - 30.Mar.2016 Rate of Dividend: - Rs. 1.00 per share / Second Interim Dividend Financial Year: - 2015/2016 XD: - 08.Apr.2016 Payment: - 22.Apr.2016 Share Transfer Book O...
SRI LANKA TELECOM - DIVIDEND ANNOUNCEMENTS
SRI LANKA TELECOM PLC Company ID: - SLTL Date of Announcement: - 30.Mar.2016 Rate of Dividend: - Rs. 0.89 per share / First and Final Dividend Financial Year: - 2015 Shareholder Approval: - Required AGM: - 12.May.2016 XD: - 13.May.2016 Payment: - 24.May.2016 Share Transfer Book O...
LANKA CERAMIC - DIVIDEND ANNOUNCEMENTS
LANKA CERAMIC PLC Company ID: - CERA Date of Announcement: - 30.Mar.2016 Rate of Dividend: - Rs. 5.00 per share / Second Interim Dividend Financial Year: - 2015/2016 XD: - 08.Apr.2016 Payment: - 22.Apr.2016 Share Transfer Book O...
Tuesday, March 29, 2016
Sri Lanka should open up more than two sectors for ETCA: Prof. Samarajiva
Mar 29, 2016 (LBO) – Sri Lanka should open up more sectors for the proposed Indo-Lanka Economic and Technology Cooperative Agreement or ETCA, a head of regional think tank said.A former telecoms regulator and founding Chair of LIRNEasia Professor Rohan Samarajiva said at a seminar that the construction industry is a one sector that should be opened up for both countries.“I disagree with this ETCA. I think we should open up more than two sectors. I think we should open up construction,” Samarajiva said.As per the professional...
Sri Lanka *market update* USD/LKR 1wk fwd 148.90.149.00
USD/LKR one week forward quoted at 148.90/149.00, after closing at 148.20/30 Monday, dealers said. The spot is still holding at 143.90 (March 29, 2016 12.40 p.m)ASPI trading at 6,026.21, down 35.84 points or 0.59 percent with losses in index heavy stocks like John Keells Holdings and Hemas Holdings. (March 29, 2016 11.30 a.m)Asian shares were down on Tuesday followed by losses on Wall Street and pressure on the US dollar. Australian shares slumped 0.3 percent after a long week-end Easter holiday. Japan’s...
CSE seeks foreign listings on proposed dollar denominated Board
The Colombo Stock Exchange (CSE) and the Maldives Stock Exchange (MSE), in association with the Capital Market Development Authority of Maldives (CMDA), acting under the MOU signed between the two exchanges conducted a roadshow for potential Maldivian Issuers and Investors. The forum hosted by the Capital Market Development Authority of Maldives was held on the 28th and 29th of March 2016 at the Maldives Monetary Authority Building in Male.The forum presented the CSE as a secondary listing destination for Maldivian companies...
Throwing rocks at the Google Bus, the Rushkoff way
Mar 29, 2016 (LBO) – In his latest book ‘Throwing Rocks at the Google Bus,’ media theorist Douglas Rushkoff argues that the free market isn’t written in stone and a path to a more resilient way of doing business involves understanding the steady-state economy.He reminds us to stop using the market as an excuse for society’s ills — the market was created, and it can change.“All I ask is that people at the very least acknowledge that the venture capital/startup/financially-driven operating system is a choice, not a preexisting...
Sri Lanka rates held unchanged after monetary policy meeting
Mar 29, 2016 (LBO) – Sri Lanka’s monetary board held interest rates unchanged after a monthly monetary policy meeting, surprising some market participants who expected a rate increase.Seven out of 13 economists expected the Central Bank to raise rates to tackle high credit growth and pressure on the Rupee, according to a poll done by Reuters.Private sector credit growth was 25.7 per cent in January 2016 compared to 25.1 per cent in December 2015 and 27.0 per cent in November 2015.“Going forward, the growth of monetary aggregates...
Media Release: CSE seeking foreign listings on proposed new dollar denominated board
http://www.cse.lk/cmt/upload_cse_announcements/5261459229939_....
RENUKA HOLDINGS (RHL) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/9171459247518_....
SANASA DEVELOPMENT BANK - SCRIP DIVIDEND
Proportion: - Voting - One (01) share for every 21.9467 existing shares held Qty Offered: - 1,833,838 Financial Year: - 2015 Shareholder Approval: - Required Dates to be notified Share Transfer Book O...
SANASA DEVELOPMENT BANK - CASH DIVIDEND
Date of Announcement: - 29.Mar.2016 Rate of Dividend: - Rs. 2.50 per share (Subject to dividend tax of 10%) / Final Dividend Financial Year: - 2015 Shareholder Approval: - Required Dates to be notified Share Transfer Book O...
Monday, March 28, 2016
Sri Lanka *market update*USD/LKR 1wk fwd 147.55/75, Bond market inactive
USD/LKR one week forward quoted at 147.55/75, dealers said. (March 28, 2016 12.10 p.m)“There are no quotes for bonds,” dealers said. Last week bids for bonds of 2020, 2021, 2022 and 2015 were rejected. (March 28, 2016 11.30 a.m)Asian stock markets were higher on Monday with signs of a steady recovery in the US economy. Japan’s Nikke was up 0.77 percent. The Chinese indices also followed suit and edged higher this Monday, with benchmark Shanghai Composite index up 0.64 percent and Shenzhen’s CSI300 also gaining...
ADB announces loan auction for Sri Lankan SME sector
Mar 28, 2016 (LBO) – Asian Development Bank announced the first auction of a 12.5 million US dollar tranche of re-finance funds for Sri Lankan banks to provide loans for small and medium enterprises in Colombo, Monday.“This is the first time ADB is disbursing funds in this manner where funds will be allocated through an auction to the financial institutions that submit the highest bids,” Donald Lambert, senior finance specialist said.“So far we have received 5 bids and we are expecting more before it closes at 1300 hrs today.”Lambert...
Thursday, March 24, 2016
Prime Minister orders an investigation into CSE power failure
Mar 24, 2016 (LBO) – Sri Lanka’s Prime Minister has ordered an investigation into the sudden power failure reported recently at the Colombo Stock Exchange.“Every stock exchange should have back-up power to operate. Today foreign investors asked us how they invest in a market where there is no power to operate,” Premier Ranil Wickremesinghe said.“That is our biggest issue now. They are more concerned on that; not on our proposed taxes (Capital Gains Tax). This tax is even there in London.”A power outage resulted in a temporary...
Sri Lanka *market update* ASPI close up 0.3-pct, T/O Rs. 488 Mn
ASPI closed at 6,092.45, down 18.95 points or 0.31 percent with gains in some index heavy stocks. The main index saw gains in Carson and Cumberbatch and John Keela Holdings. Turnover was 488 million rupees with 71 counters closing positive and 51 negative. (Mar 24, 2016 3.00 p.m)Asian stocks markets were down for a second day as oil prices dropped below the 40 US dollars a barrel, foreign media reports said. The MSCI Asia Pacific Index fell 0.5 percent to 128.10 Thursday morning while Japan’s...
WATAWALA PLANTATIONS (WATA) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/6831458800965_....
Wednesday, March 23, 2016
Sri Lanka seeks USD1bn currency swap with China: Prime Minister
Mar 23, 2016 (LBO) – Sri Lanka is currently looking at one billion US dollars worth currency swap agreement with China, Prime Minister Ranil Wickremesinghe told Parliament Wednesday.“We have several issues with regard to the foreign exchange reserves. We already have a swap with India and now we are going to have another one billion swap with Chinese Central Bank,” Wickremesinghe said.Sri Lanka received a 700 million US dollars currency swap from the Indian Central Bank earlier this month.&nb...
Sri Lanka *market update* ASPI close down 0.25-pct, Net foreign outflow Rs. 305Mn
ASPI closed at 6,073.50, down 15.07 points or 0.25 percent ith losses in some index heavy stocks. The main index was dragged down by losses in Carson and Cumberbatch with the stock closing at 260.00 rupees, down 31.70 rupees and Distilleries Company closing at 230.00 rupees, down 3.40 rupees. Turnover was 1.2 billion rupees with 72 counters closing positive and 62 negative. Foreign purchases amounted to 822.8 million rupees whilst foreign sales were 1,128.3 million rupees. This resulted in a net foreign outflow...
Markets mixed after deadly attacks in Brussels
Mar 23, 2016 (LBO) European markets recovered from early losses after deadly attacks in Brussels killed 31 people and injured more than 230. France’s CAC and Germany’s DAX index fell 2 percent early on, but recovered by close. The CAC closed up 0.09 percent and the DAX up 0.42 percent. The FTSE closed up 0.12 percent. In other markets, China’s CSI ended down 0.73 percent, S&P 500 down 0.09 percent and NASDAQ up 0.27 percent. Safe havens like gold and U.S. Treasuries climbed amid a drop in oil prices. On Wednesday, Brent...
TANGERINE BEACH HOTELS (TANG) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/481458712267_....
EQUITY ONE (EQIT) - DELISTING OF SHARES FROM THE OFFICIAL LIST OF THE COLOMBO STOCK EXCHANGE
http://www.cse.lk/cmt/upload_cse_announcements/4111458715671_....
Monday, March 21, 2016
CSE Wins Global HR Excellence Award
The Colombo Stock Exchange (CSE) won the award for “The Most Innovative Use of Training and Development” at the recently concluded World HRD Congress in Mumbai, India. Attracting participation from organizations representing over 100 countries, the Global HR Excellence Awards recognize organizations and HR professionals for excellence in HR strategy and people management.Diverse training needs and unique operational...
Sri Lanka *market update* ASPI higher 0.02-pct, Asian Stocks Fall
ASPI trading at 6,058.96, down 1.17 points or 0.02 percent with gains seen in some finance and banking sector stocks, brokers said. (Mar 21, 2016 10.00 a.m)Asian stocks were down on Monday morning with the drop in global crude oil prices. The MSCI Asia Pacific declined 0.4 percent to 412.76 in Hong Kong. The Shanghai Composite Index rose 0.8 percent with Chinese policy makers loosening controls in the stock market. In Hong Kong’s the Hang Seng Index of mainland stocks traded almost flat while...
Debt crisis in developing nations likely if slowdown continues: Kelegama
Mar 21, 2015 (LBO) – The main priority for policy makers worldwide should be to support a robust and balanced global recovery, a Sri Lankan economist said.This involves promoting cooperation in reforming the international financial system, and ensuring sufficient resource flows to developing economies, Saman Kelegama, executive director of the Institute of Policy Studies of Sri Lanka said.“The global economic slowdown, if it continues, is likely to result in a return of the debt crisis for more developing countries,” he said.“There...
Friday, March 18, 2016
Sri Lanka *market update* ASPI close down 0.2-pct
ASPI was down after two straight sessions of gains mainly due to price declines in stocks such as Sri Lanka Telecom, Lanka Orix Leasing Company, John Keells Holdings, brokers said. The ASPI lost 10.4 points to close at 6,057.8 while the S&P SL20 Index lost 6.63 points to close at 3,167.5. Total turnover was 919.5 million rupees. Foreign purchases amounted to 169.6 million rupees whilst foreign sales amounted to 546.2 million rupees resulting in a net foreign outflow of 376.5 million rupees. (Mar...
Investment Summit: Sri Lanka bonds attractive in Asia, say officials
Singapore, Mar 18, 2016 (LBO) – With Sri Lanka never defaulting on sovereign debt, rupee bonds were an attractive proposition within the bond offerings in Asia, presenters said at the Sri Lanka Investment Summit held in Singapore this week.Although devaluation of the yuan, and increase in Fed rates led to capital outflows, those outflows appear to be stabilizing, Central Bank Governor Arjuna Mahendran told the audience.The Sri Lankan bond market is trading at discount to regional peers after a foreign fund cut their exposure...
GUARDIAN CAPITAL PARTNERS - DIVIDEND ANNOUNCEMENTS
GUARDIAN CAPITAL PARTNERS PLC Company ID: - WAPO Date of Announcement: - 18.Mar.2016 Rate of Dividend: - Rs. 0.25 per share (Would not be subject to the dividend tax 10%) / First Interim Dividend Financial Year: - 2015/2016 XD: - 31.Mar.2016 Payment: - 08.Apr.2016 Share Transfer Book O...
CEYLON INVESTMENT - DIVIDEND ANNOUNCEMENTS
CEYLON INVESTMENT PLC Company ID: - CINV Date of Announcement: - 18.Mar.2016 Rate of Dividend: - Rs. 1.50 per share (Would not be subject to a 10% WHT) / First Interim Dividend Financial Year: - 2015/2016 XD: - 31.Mar.2016 Payment: - 08.Apr.2016 Share Transfer Book O...
Thursday, March 17, 2016
European Commission announces Euro 38 mn for development in Sri Lanka
Mar 16, 2016 (LBO) – The European Commission co-signed two new support programmes worth 38 million Euros in the field of rural development and trade with Sri Lanka, a EU statement said.“Now our focus is on providing long-term support towards poverty reduction and local economic development,” Neven Mimica,EU Commissioner for International Cooperation and Development who arrived for a three day visit to the country on Tuesday said.“We have a new opportunity to support governance and reconciliation efforts and help address the...
Sri Lanka *market update* ASPI close up 0.80-pct, Turnover Rs.1.5bn
ASPI close down 6,068.17, down 46.80 points or 0.78 percent with gains in telecom and some index heavy stocks, brokers said. Turnover was 1.5 billion rupees. Dailog Axaita closed at 10.20 rupees, up 0.20 rupees and Sri Lanka Telecom closed at 40.90 rupees, up 1.40 rupees. John Keells Holding closed at 151.20 rupees, up 1.00 rupees with over 2.1 million shares traded. (Mar 17, 2016 3.40 p.m)USD/LKR one week forward at 145.45/55, dealers said. The spot did not trade below 143.90, seen as the Central...
Wednesday, March 16, 2016
Sri Lanka's GSP+ process on the right track: EU Commissioner
Mar 16, 2016 (LBO) – The European Union has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, a senior EU official said.With the election of the new government Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) of the European Union.“Now is the correct time – it is visible that democracy and reconciliation are top priorities of the newly elected government,” Neven Mimica, European Commissioner...
Sri Lanka foreign reserves at USD6.6bn; IMF support by mid 2016
Mar 16, 2016 (LBO) – Sri Lanka’s gross official reserves were estimated at 6.6 billion US dollars by today, Special Assignments Minister Sarath Amunugama said.Speaking at a media briefing Amunugama said it is sufficient for 4 months of imports.“It is recommended to keep at least 3 months of imports. So we are at a comfortable level now,” Amunugama said.The Minister said current gross official reserves include 1.1 billion US dollars support received from the Asian region.Sri Lanka received a 700 million US dollars currency swap...
Sri Lanka *market update* ASPI close up 0.85-pct, Foreign outflow of Rs.221mn
ASPI closed at 6,021.37, up 50.97 points or 0.85 percent with gains in banking and finance companies, brokers said. JKH was the top contributor of 25 percent to turnover, aided by three crossings on the stock at a price range of 150-151 rupees with a total of 1.56mn shares changing hands during the day. Active trading was seen in banking stocks with Commercial Bank closing 0.20 lower at 120. 00 ruees and Sampath Bank closing 4.90 lower at 224.90 rupees. Foreigners were on the selling side...
Carl Cruz assumes duties as Chairman of Unilever Sri Lanka
With effect from March 1, 2016, Carl Cruz assumed duties as Chairman of Unilever Sri Lanka, taking the helm from his predecessor, Shazia Syed who has returned to Pakistan to assume her duties as the Chief Executive Officer of Unilever Pakistan.Carl arrived in Sri Lanka from the Philippines, where he last served as the Vice President of Customer Development for Unilever Philippines. Under his leadership, the function was transformed into an execution and talent powerhouse for the business, while simultaneously achieving sustainable...
CIC HOLDINGS PLC - DIVIDEND ANNOUNCEMENT
CIC HOLDINGS PLC Company ID: - CIC Date of Announcement: - 16.Mar.2016 Rate of Dividend: - Rs. 1.00 per share (Voting & Non-Voting) / Second Interim Dividend Financial Year: - 2015/2016 XD: - 29.Mar.2016 Payment: - 07.Apr.2016 Share Transfer Book O...
Tuesday, March 15, 2016
Sri Lanka gives official go ahead for China Port City; CHEC welcomes approval
Mar 15, 2016 (LBO) – Sri Lanka’s government officially informed the Chinese investors of resuming the construction of the Port City project in capital Colombo, yesterday one year after its suspension, a foreign news agency reported.According to China’s state media, Xinhua Sri Lanka’s Ministry of Ports and Shipping, in an official letter to the CHEC Port City Colombo (Pvt) Ltd, said that the company could resume the construction of the project immediately.“At its meeting held on March 9, 2016, the Cabinet of Ministers...
Sri Lanka on cusp of growth, say officials at Singapore Investment Summit
Highlights– Agreement with IMF possible mid April: Governor Central Bank– GDP growth seen at 6.5 pct, budget deficit at 5.9 pct vs 6.0: Governor– USD10 mln investment going into East, says Brandix– Initial discussion on FTA with Japan: Finance MinisterSingapore, Mar 15, 2016 (LBO) – The Sri Lanka Investment Summit, organized by FinanceAsia, opened at the Four Seasons Hotel in Singapore on Tuesday, well attended by international investors and local delegates.Finance Minister Ravi Karunanayake told the audience during the morning...
Sri Lanka's economy grew 4.8-pct in 2015: Census Department
Mar 15, 2016 (LBO) – Sri Lanka’s economy has grown 4.8 percent in 2015 against the 4.9 percent growth recorded in the previous year, the statistics department said.The Gross Domestic Product (GDP) of Sri Lanka for the year of 2015 (January to December) has reached up to 8,622,825 million rupees.The GDP value reported for the year 2014 was 8,228,986 million rupees resulting a positive growth rate of 4.8 percent for the year 2015.However,...
Sri Lanka *market update* ASPI close down 0.15-pct, Foreign out- flow Rs.16.6mn
ASPI closed 5,970.40, down 9.03 points or 0.15 percent with losses recorded in some banking and finance sector stocks like Commercial leasing Company, Lanka Orix Leasing and Commercial Bank, brokers said. Turnover was 731 million rupees. Foreign investors aligned on to the selling side recording a net foreign out-flow of 16.6 million rupees. Price losers outnumbered gainers by 68 to 49 counters. (Mar 15, 2016 4.20 p.m)ASPI trading at 5,968.78, down 10.65 points or 0.18 percent with...
HAYLEYS (HAYL) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/131458011068_....
Monday, March 14, 2016
Sri Lanka *market update* ASPI close down 0.7-pct
ASPI closed at 5,979.43, down 40.52 points or 0.67 percent with losses in index heavy stocks like John Keells Holdings, Hatton National Bnak and Dialog Axaita. (Mar 14, 2016 4.00 p.m)ASPI trading at 5,990.27, down 29.68 points or 0.49 percent with losses in John Keells Holdings and Dialog Axaita. (Mar 14, 2016 11.30 a.m)Asian shares were up Monday backed by gains on Wall Street and firmer crude oil prices and strong data from China, foreign media said. Asia-Pacific broadest...
Asia is ray of hope for global recovery: Narendra Modi
New Delhi, Mar 13, (LBO) – Prime Minister Narendra Modi said Asia, which is the most dynamic region in the world, brings a ray of hope for global economic recovery. Mr Modi delivered the opening keynote at the three-day high-level conference in New Delhi themed “Advancing Asia: Investing for the Future.”The conference is co-hosted by The International Monetary Fund (IMF) and the Government of India. He was addressing a gathering of senior officials, corporate executives, academics, and civil society representatives from more...
Monetary policy cannot substitute for structural reforms: Raghuram Rajan
New Delhi, Mar 13, 2016 (LBO) – “Structural reforms, typically ones that increase competition, foster innovation, and drive institutional change, are the way to raise potential growth,” said Raghuram Rajan, Governor of Reserve Bank of India (RBI).Rajan was speaking at a three-day high-level conference in New Delhi themed “Advancing Asia: Investing for the Future.” The conference is co-hosted by The International Monetary Fund (IMF) and the Government of India. He was addressing a gathering of senior officials, corporate executives,...
Sri Lanka Investment Summit to kick off in Singapore
Mar 12, 2016 (LBO) – Sri Lankan and international delegates will congregate at the Sri Lanka Investment Summit in Singapore on Tuesday, with the island positioning itself as one of the fastest growing economies in Asia, the organizers said.The conference is expected to bring together Sri Lanka’s financial sector specialists and regional portfolio managers and institutional investors. The event is organized by FinanceAsia. The conference will feature a keynote address by Ravi Karunanayake, the minister of finance, and presentation...
IMF capacity development centre to be setup in India
New Delhi, Mar 12, 2016 (LBO) – Christine Lagarde, Managing Director of the International Monetary Fund (IMF) and Minister Arun Jaitley agreed today to establish a capacity development center in New Delhi. “I would like to thank Prime Minister Modi, Minister Jaitley and the Indian Government for offering to host the center and for their substantial financial commitment,” Lagarde said. “This will be the first center that fully integrates training and technical assistance and is a model for our future capacity development...
Friday, March 11, 2016
RICHARD PIERIS AND COMPANY - RATING REVIEW
http://www.cse.lk/cmt/upload_cse_announcements/3681457688838_....
Sri Lanka stocks close up 1.5-pct; Continued foreign in-flow
Mar 11, 2016 (LBO) – Sri Lankan stocks closed up 1.46 percent after two consecutive days of losses with gains in index heavy stocks, brokers said.The Colombo benchmark All Share Price Index (ASPI) closed at 5,862.35, up 85.88 points or 1.46 percent. The S&P SL20 closed 50.54 points at 3,143.46 up 1.63 percent.Turnover was 2.5 billion rupees, up from 1.8 billion rupees Wednesday with 147 stocks closing positive against 22 negative.The main index showed gains Sri Lanka Telecom with the stock closing at 35.00 rupees,...
Sri Lanka *market update* ASPI closes up 1.2-pct, crosses 6,000 mark
ASPI closed at 6,019.95, up 71.72 points or 1.21 percent with gains in Sri Lanka Telecom and Commercial Bank, brokers said. (Mar 11, 2016 3.30 p.m)ASPI now trading at 6,001.07, up 52.84 points 0.89 percent with continued gains in index heavy and banking stocks, brokers said. (Mar 11, 2016 12.30 p.m)ASPI trading at 5,993.10, up 44.87 points or 0.75 percent with gains in index heavy stocks like John Keells Holdings and Carsons, brokers said. (Mar 11, 2016 11.30 a.m)USD/LKR one...
Thursday, March 10, 2016
Business Conclave: Why invest in Sri Lanka?
March 10, 2016 (LBO) – “This is the best time to invest in Sri Lanka,” Minister of Finance Ravi Karunanayake urged at the successful Investment and Business Conclave 2016 organised by the Ceylon Chamber of Commerce, raising the question ‘Why is it the best time to invest in Sri Lanka?’Admitting that everything is not ‘hunky-dory,’ Ranjith Fernando of the Urban Development Authority (UDA) said though Sri Lanka is still struggling, the international community is ready to help make changes, and the government is on the right track...
Sri Lanka *market update* ASPI up 1.0-pct, Turnover Rs. 2Bn
ASPI trading at 5,921.25, up 58.90 points or 1.00 percent with gains in index heavy stocks like JKH and Hemas Holdings, brokers said. Turnover is 2 billion rupees. (Mar 10, 2016 1.00 p.m) &nb...
Standard & Poor's revises Sri Lanka outlook to Negative
Mar 10, 2016 (LBO) – Standard & Poor’s Ratings Services on Thursday revised the outlook on its ‘B+’ long-term sovereign credit ratings on Sri Lanka to negative from stable on rising fiscal and external imbalances .“We also affirmed the long-term rating and the ‘B’ short-term credit rating and left our transfer and convertibility risk assessment on Sri Lanka unchanged at ‘B+’,” Standard & Poor’s said in a statement.The full text of the statement is reproduced below.Sri Lanka Outlook Revised To Negative On Rising Fiscal...
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