June 30 (LBO) – Asia stocks rose across the board on Thursday, tracking an overnight rally on Wall Street, while the safe-haven Japanese yen stopped rising as global markets bet Brexit won’t get implemented immediately.Michael Hewson, chief market analyst at CMC Markets, said investors had been reassured by hopes that Britain’s EU exit wouldn’t happen immediately, meaning the status quo was unlikely to change in the short term, BBC reported.“Whilst that doesn’t remove the uncertainty with respect to the eventual outcome, it...
Thursday, June 30, 2016
Sri Lanka's social security programs to be networked: Cabinet
June 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved the Social Security Network Project to connect all social security programs, so that suitable persons have access to social security in a transparent manner.“There is no method of identifying whether the benefits of social security programs are being directed to the suitable communities,” a statement said.This is because there is no connection between various social security programs. The proposal made by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister...
Sri Lankan rupee 1-wk forwards rise on bank dollar sales; stocks up
June 30 (Reuters) – Sri Lankan rupee one-week forwards rose on Thursday as a state-run bank sold dollars after the central bank intervened to lift the rupee, while dollar selling by a few exporters also helped the currency gain, dealers said.One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee, were at 146.40/50 per dollar at 0527 GMT, firmer than Wednesday’s close of 146.60/80. “A state bank is selling dollars.It looks like the central banks is trying to keep the rupee steady because it is the...
Charitha Ratwatte to take up Governor position for two months: Source
June 30, 2016 (LBO) – Charitha Ratwatte is expected to take a temporary position as the Governor of the Central Bank of Sri Lanka, a government source told Lanka Business Online. The appointment of the former Treasury Secretary would be for two months, the source added. An official announcement has not been made yet. On Wednesday, Sri Lanka’s President Maithripala Sirisena stated a new appointment would be made soon, after Governor Arjuna Mahendran said he won’t seek re-appointment until an investigation into bond auctions last...
NAWALOKA HOSPITALS - DIVIDEND ANNOUNCEMENT
NAWALOKA HOSPITALS PLC Company ID: - NHL Date of Announcement: - 30.Jun.2016 Rate of Dividend: - Rs. 0.08 per share / Interim Dividend Financial Year: - 2016/2017 XD: - 12.Jul.2016 Payment: - 22.Jul.2016 Share Transfer Book O...
Wednesday, June 29, 2016
Sri Lankan rupee forwards rise as foreign investors buy bonds
June 29 (Reuters) – Sri Lankan rupee one-week forwards strengthened on Wednesday as foreign investors sold dollars to buy local bonds, while selling of the greenback by some exporters and banks also supported sentiment.Asian stock markets joined a global rebound as the immediate drag from the Brexit vote began to ebb and investors wagered central banks would ultimately ride to the rescue with more stimulus measures.One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee, were at 147.50/60 per dollar...
Sri Lanka President to appoint new Governor
June 29, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena will appoint a new governor to the Central Bank soon, he said on Wednesday.“I will appoint a new Governor to the Central Bank in the coming hours,” his twitter account said.Governor Arjuna Mahendran has said he won’t seek re-appointment due at the end of this month until a COPE report on bond investigations is finalized.COPE will meet today to consider the Auditor General’s report on the bond investigation.Parliamentarian and COPE member Dr. Nalinda Jayatissa told...
Central Bank Union calls for immediate action
Jun 29, 2016 (LBO) – Sri Lanka’s Central Bank Executive Officers Union says that immediate legitimate action needs to be taken to prevent probable anarchic state that would arise at the institution from July 01, 2016.“We write to record our discontent on the current state of depletion of public confidence in and heightened criticism of Central Bank of Sri Lanka at all levels and draw the attention of the members of the Monetary Board to possible anarchical situation that would arise on the affairs of the bank from July 01, 2016,”...
Sri Lanka *market update* President arrives at Central Bank
President Maithripala Sirisena arrived at the Central Bank short while ago, reports said. He tweeted that an announcement on the new Governor will be made soon. Sources say Nandalal Weerasinghe, deputy governor, Dinesh Weerakkody, P Samarasiri, Eran Wickremeratne, considered for position. COPE has accepted the Auditor General’s report on the Treasury bond transactions last year, and will meet central bank and finance ministry officials July 7 to discuss it, a media report said.&nb...
BANSEI ROYAL RESORTS HIKKADUWA - DIVIDEND ANNOUNCEMENT
BANSEI ROYAL RESORTS HIKKADUWA PLC Company ID: - BRR Date of Announcement: - 29.Jun.2016 Rate of Dividend: - Rs. 0.10 per share / First & Final Dividend Financial Year: - 2015/2016 Shareholder Approval: - Required AGM: - 16.Aug.2016 XD: - 18.Aug.2016 Payment: - 26.Aug.2016 Share Transfer Book O...
CENTRAL INDUSTRIES (CIND) - SUB-DIVISION OF SHARES 2 for 1
http://www.cse.lk/cmt/upload_cse_announcements/9991467201593_....
Tuesday, June 28, 2016
Brexit vote, UK political confusion keep world and asian markets on edge
June 28 (Reuters) – Britain’s vote to leave the European Union continued to reverberate through financial markets, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook.UK finance minister George Osborne said early Monday that the British economy was strong enough to cope with the market volatility caused by last week’s “Brexit” referendum which has resulted in the biggest blow since World War Two to the European goal of forging...
Sri Lanka's Amana Takaful Life announces IPO of Rs75Mn
June 28, 2016 (LBO) – Amana Takaful Life Limited (ATLL), a fully-owned subsidiary of Amana Takaful PLC, has announced an Initial Public Offering (IPO), via an offer for sale of 75 million rupees. ATLL becomes the first segregated life insurer in Sri Lanka to do so following the mandatory segregation of Life and General insurance companies on 1st February 2015. Listing on the Diri Savi Board of the Colombo Stock Exchange, the company will offer 50 million ordinary voting shares at 1.50 rupees per share, which represents a 10...
Sri Lanka to impose capital gains tax on stocks, Minister says
June 28 (Reuters) – Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan.Sri Lanka’s cabinet approved reintroducing a capital gains tax on land early this month, but has not said whether it would be imposed on profits from buying and selling equities.“We don’t know the details of it right now, but there will definitely be a capital gains tax on land transactions...
Sri Lanka *market update* ASPI close down 0.2-pct, USD/LKR 1wk fwd up 148.05/20
ASPI closed at 6,307.40, down 10.81 points or 0.17 percent with losses in Ceylon Tobacco Company, Lion Brewary and Dialog Axaita, brokers said.USD/LKR one-week dollar/rupee forwards traded at 148.05/20, up from Monday’s close of 148.20/40, as exporters and banks sold the greenback after the island nation’s currency declined on a stronger dollar following the Brexit vote last week. Dealers said the three-day dollar/rupee forwards, which were not traded since June 15, started trading on Monday. The forwards,...
COPE to consider Auditor General's report on bond issue tomorrow
June 28, 2016 (LBO) – Sri Lanka’s Parliament appointed Committee on Public Enterprises (COPE) will meet tomorrow to consider the Auditor General’s report on the bond investigation.Parliamentarian and COPE member Dr. Nalinda Jayatissa told LBO, the committee will most probably arrive at a decision on the alleged bond scam based on the findings of the Auditor General’s report.“Based on those reports, we may take a decision tomorrow, but appointing Governor again or not is a decision that should be taken by the President himself,”...
MANDATORY OFFER BY BROWNS HOTELS AND RESORTS LIMITED TO PURCHASE ALL THE REMAINING ORDINARY SHARES OF EDEN HOTEL LANKA PLC
http://www.cse.lk/cmt/upload_cse_announcements/1131467114077_....
TOKYO CEMENT COMPANY (LANKA) - DIVIDEND ANNOUNCEMENT
TOKYO CEMENT COMPANY (LANKA) PLC Company ID: - TKYO Date of Announcement: - 28.Jun.2016 Rate of Dividend: - Rs. 1.35 per share (Voting and Non-Voting) / First & Final Dividend Financial Year: - 2015/2016 Shareholder Approval: - Required AGM: - 04.Aug.2016 XD: - 05.Aug.2016 Payment: - 15.Aug.2016 Share Transfer Book O...
Monday, June 27, 2016
Gap between male, female life expectancy narrows in Sri Lanka
June 27, 2016 (LBO) – The difference between female and male life expectancy at birth reduced in 2012 to 6.6 years compared with 8.4 years in 2001, latest data from the statistics office showed.For the years 2011 to 2013, life expectancy is 72.0 years for males and 78.6 for females, while the life expectancies for males and females for the year 2001 were 68.8 and 77.2 years respectively.Therefore there is also an increase of life expectancy for both males and females in year 2012 compared to year 2001.Since the last Census was...
ABANS FINANCE (AFSL) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/4621467001127_....
KELANI CABLES - DIVIDEND ANNOUNCEMENTS
KELANI CABLES PLC Company ID: - KCAB Date of Announcement: - 27.Jun.2016 Rate of Dividend: - Rs. 4.50 per share / Interim Dividend Financial Year: - 2016/2017 XD: - 07.Jul.2016 Payment: - 18.Jul.2016 Share Transfer Book O...
EQUITY ONE - DIVIDEND ANNOUNCEMENTS
EQUITY ONE PLC Company ID: - EQIT Date of Announcement: - 27.Jun.2016 Rate of Dividend: - Rs. 0.15 per share (Would not be subject to a WHT of 10% tax) / First & Final Dividend Financial Year: - 2015/2016 Shareholder Approval: - Required AGM: - 28.Jul.2016 XD: - 29.Jul.2016 Payment: - 08.Aug.2016 Share Transfer Book O...
SAMSON INTERNATIONAL - DIVIDEND ANNOUNCEMENTS
SAMSON INTERNATIONAL PLC Company ID: - SIL Date of Announcement: - 27.Jun.2016 Rate of Dividend: - Rs. 2.00 per share / First & Final Dividend Financial Year: - 2015/2016 XD: - 07.Jul.2016 Payment: - 18.Jul.2016 Share Transfer Book O...
Friday, June 24, 2016
Sri Lanka CB Governor won't seek reappointment until probe over
June 24, 2016 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran has informed the Monetary Board that he will not seek a re-appointment when his term ends this month until a parliamentary probe over bond sales is complete.The Central Bank in a press release said he would not seek re-appointment until “the Parliamentary Committee on Public Enterprises makes its findings known on issues related to the issuance of Treasury Bonds in the years 2015 and 2016.”Mahendran’s term has been controversial after a bond issue last...
Sri Lanka *market update* Nikkei plunges 7.9 pct on Brexit, Cameron to resign
The Nikkei was down 7.9 percent and european markets are expected to open sharply lower, with London’s FTSE 100 seen down 476 points at 5,862, 7.5 percent lower, while the German DAX index is called 682 points lower at 9,575, a 6.6 percent fall. France’s CAC 40 is expected to open 308 points lower at 4,158, a decline of 6.9 percent.David Cameron says he will step down as Prime Minister of the United Kingdom within three months after the shock victory for the campaign to leave the European Union.&nb...
Sri Lankan rupee 1-wk forwards fall on importer dollar demand; Brexit weighs
COLOMBO, June 24 (Reuters) – Sri Lankan rupee one-week forwards fell on Friday as it faced pressure from a strengthening dollar after Britons voted to leave the European Union, cautioning importers, but selling of the U.S. currency by a state bank capped losses, dealers said. Britain voted to leave the 28-member bloc, results from Thursday’s referendum showed, a stunning repudiation of the nation’s elites that deals the biggest blow to the European project of greater unity since World War Two. The sterling plunged on the vote...
Brexit could impact Sri Lanka borrowings, trade, says CCC
June 24, 2016 (LBO) – Sri Lanka could feel the impact of Brexit in its commercial borrowings, as the external environment becomes more volatile, while exporters should make greater effort to diversify targeted markets, the Ceylon Chamber of Commerce said.“The negotiations around the terms of Britain’s new engagement with Europe are likely to take a couple of years, and so the full impact on international trade is yet to be seen,” a statement said.“We need to see what sort of a new trading arrangement Britain would have with...
ASIAN ALLIANCE INSURANCE - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/961466765492_....
SOFTLOGIC HOLDINGS - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/3051466765836_....
CARSON CUMBERBATCH - DIVIDEND ANNOUNCEMENT
CARSON CUMBERBATCH PLC Company ID: - CARS Date of Announcement: - 24.Jun.2016 Rate of Dividend: - Rs. 1.50 per share (Would not be subject to a WHT of 10%) / First & Final Dividend Financial Year: - 2015/2016 Shareholder Approval: - Required AGM: - 29.Jul.2016 XD: - 01.Aug.2016 Payment: - 09.Aug.2016 Share Transfer Book O...
Thursday, June 23, 2016
Sri Lanka *market update* ASPI close down 0.4-pct, New chair at Blue Diamonds
Dr. Dayanath Jayasuriya has been appointed as Chairman and Non-Executive Independent Director of the troubled Blue Diamonds Jewellery Worldwide Plc. following the step down of Chinese controlling shareholder Xia Liqiang. He will step down as Chairman but will remain on the Blue Diamonds Board as Deputy Chairman and Managing Director. The company also announced the appointment of S. Prabaharan as an Executive Non-Independent Director. Jayasuriya PC is a Fellow of the International Compliance Association (UK). He...
Asia stocks, sterling rise as Brexit anxiety abates
June 23 (Reuters) – Asian shares edged up and sterling stood close to its peak for the year on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum later in the session.Two opinion polls published late on Wednesday, a few hours before voters were due to begin to cast their votes, showed the “Remain” camp gaining momentum in the closely divided campaign.MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent in early trading, shrugging...
Fitch Downgrades NDB; Affirms 8 Sri Lanka Banks, Negative Outlook on DFCC, Sampath
Jun 23, 2016 (LBO) – Sri Lanka's National Development Bank PLC's (NDB) national long term rating has been downgraded to 'A+(lka)' from 'AA(lka)', Fitch rating said in a statement.The ratings on eight other Sri Lanka banks have been affirmed.The outlooks have been revised on DFCC Bank PLC's (DFCC) and Sampath Bank PLC's (Sampath) national longterm ratings to negative, the agency said.The full statement follows:Fitch Ratings has downgraded National Development Bank PLC's (NDB) National LongTerm Rating to 'A+(lka)'...
Sri Lanka's benefits from IMF depend on reform effectiveness: Moody's
June 23, 2016 (LBO) – Moody’s Investors Service says that whether or not Sri Lanka’s (B1 negative) credit profile demonstrates a temporary or more enduring improvement from its International Monetary Fund’s (IMF) program will depend on how effectively the program’s ambitious reforms are implemented.Moody’s conclusions are outlined in its just released report: “Government of Sri Lanka: Reform Implementation Key to Lasting Fiscal, External Improvement from IMF Program”.The IMF approved on 3 June 2016, a 1.5 billion US dollars...
Sri Lankan rupee 1-wk forwards edge up on dollar sales
June 23 (Reuters) – Sri Lankan rupee one-week forwards edged up on Thursday due to dollar selling by a state-run bank, while demand for the greenback from importers amid low liquidity weighed on the currency, dealers said. A decision by Moody’s to revise down the country’s sovereign rating outlook and lack of exporter conversions also weighed on the local currency, dealers said, adding that the central bank had prevented the spot currency from trading via moral suasion. One-week dollar/rupee forwards, which have been acting...
YORK ARCADE HOLDINGS - DIVIDEND ANNOUNCEMENT
YORK ARCADE HOLDINGS PLC Company ID: - YORK Date of Announcement: - 23.Jun.2016 Rate of Dividend: - Rs. 0.30 (30 cents) per share / First & Final Dividend Financial Year: - 2015/2016 Shareholder Approval: - Required AGM: - 29.Jul.2016 XD: - 01.Aug.2016 Payment: - 09.Aug.2016 Share Transfer Book O...
Wednesday, June 22, 2016
Sri Lanka consumer prices soar 5.3-pct in May
Jun 22, 2016 (LBO) – Sri Lanka’s inflation climbed for the fourth straight month in May after recording a fall of 0.7 percent in January, according to the National Consumer Price Index (NCPI) introduced in October last year with 2013 as the base.According to the Census and Statistics Department inflation was 5.3 percent in May from a year earlier, compared with a 4.3 percent increase witnessed in April 2016.NCPI has been calculated as 113.7 for May 2016.This shows an increase of 2.1 index points or a percentage of 1.9 compared...
Sri Lanka *market update* Asian shares up, Adam Investments share sub division
Adam Investments PLC at a meeting of Board Directors of the company have resolved to recommend to shareholders that ordinary shares of the company in issue be increased by way of a subdivision whereby one ordinary share will be subdivided into two ordinary shares. On this basis the Four Hundred Forty Nine Million Two Hundred Seventy Six Thousand Two Hundred (449,276,200) Ordinary shares in issue as at date will be increased to Eight Hundred Ninety Eight Million Five Hundred Fifty Two Thousand Four Hundred (898,552,400)...
Opportunities for value investors, rate hikes limited: JB Securities
June 22, 2016 (LBO) – Sri Lanka’s equity market offers opportunities for value investors as market multiples have contracted, JB Securities says in their latest research report.Although the economy is forecast to grow 4.5 percent in 2016, compared with 4.8 percent last year, further increases in interest rates are likely limited to 25 basis points. Inflation too should stay within tolerable limits of 4 percent to 6 percent, the top securities...
Oil prices above USD50, buoyed by U.S. stock draw
June 22 (Reuters) – Oil prices rose in early Asian trading on Wednesday, with U.S. crude joining Brent above $50 a barrel after data from the American Petroleum Institute (API) showed a larger than expected draw on stocks.U.S. crude futures’ August contract, the new front month from Wednesday, had climbed 35 cents to $50.20 a barrel by 0039 GMT. That marked the first time it had risen above $50 since...
Sri Lankan rupee 1-wk forwards fall on importer dollar demand; stocks slip
June 22 (Reuters) – Sri Lankan rupee one-week forwards fell on Wednesday on importer dollar demand amid low liquidity for the U.S. currency after Moody’s revised down its outlook on the island nation’s sovereign rating, dealers said.The local currency was also under pressure due to lack of exporter conversions, while moral suasion by the central bank prevented spot trade, they added.Moody’s Investors Service on Monday changed the country’s outlook to negative from stable, citing further weakening in some fiscal metrics in an...
Sri Lanka to obtain IDA loan for reforms, competitiveness
June 22, 2016 (LBO) – Sri Lanka’s cabinet has approved obtaining a 100 million US dollar loan from the International Development Agency to develop the Sri Lankan economy by implementing reforms under three aspects.Removal of obstacles for the competitiveness in private sector, transparency and improvement of management in public sector, and improvement of the fiscal sustainability are the three aspects.Prime Minister in his capacity as the Minister of National Policies and Economic Affairs has made the proposal.&nb...
Sri Lanka recall mid income housing projects in Kandy, Galle, and Homagama
Jun 22, 2016 (LBO) – Sri Lanka’s cabinet has decided to recall proposals for housing projects in Kundasale, Homagama, Galle, and Nittambuwa and grant fresh approvals for projects in Panadura and Yakkala, a statement said.“The Steering Committee appointed in this regard has recommended to implement housing projects in Panadura, Homagama (Jalthara Phase II), Yakkala, and Ragama and to recall proposals for housing projects in Kundasale, Homagama, Galle, and Nittambuwa. a statement on approved cabinet decisions said.Proposals...
THE KINGSBURY - DIVIDEND ANNOUNCEMENT
THE KINGSBURY PLC Company ID: - SERV Date of Announcement: - 22.Jun.2016 Rate of Dividend: - Rs. 0.50 per share (Liable to 10% dividend tax) / Second Interim Dividend Financial Year: - 2015/2016 XD: - 01.Jul.2016 Payment: - 13.Jul.2016 Share Transfer Book O...
Tuesday, June 21, 2016
Asia shares pause, sterling stands tall as Brexit vote looms
June 21 (Reuters) – Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week’s referendum.Two of the latest polls released over the weekend showed the “Remain” camp in the lead, reversing a recent rise in support for pulling out and prompting a rally in global equities and the pound on Monday.“The polls were not supposed to influence as much as they have, but overnight we have seen a rampant...
Sri Lanka's debt higher than B, BB rated countries, Fitch data shows
June 21, 2016 (LBO) – Sri Lanka’s current debt levels are higher than its ‘B’ median peers or the previously rated ‘BB’ median, data from the ratings agency Fitch shows. Sri Lanka’s external funding requirement too is high compared to peers, although it performs better in certain governance metrics and HDI indices. Supporting the rating, however, Sri Lanka has the potential to receive higher FDI due to the ease of doing business. These...
Sri Lanka *market update* USD/LKR 1wk fwd 148.45/55, Stocks flat
USD/LKR one week forward quoted at 148.45/50, Tuesday. The spot is holding at 144.50. (12.30 p.m)ASPI trading at 6,460.31, down 0.81 points or 0.01 percent with losses in Lanka Orix Leasing and John Keells Holdings, brokers said. &nb...
Monday, June 20, 2016
Asia stocks gain as Brexit fears ebb slightly, pound surges
June 20 (Reuters) – Asian stocks gained early on Monday as rising expectations of Britain voting to remain in the European Union lifted risk sentiment and the pound jumped against its peers.MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent.Japan’s Nikkei climbed 1.5 percent, helped by a retreat in the recently bullish yen. Australianstocks added 0.3 percent and South Korea’s Kospi rose 1 percent.Three British opinion polls ahead of the EU membership referendum on June 23 showed the ‘Remain’ camp recovering...
Sri Lankan rupee 1-wk forwards weaker on importer dlr demand
June 20 (Reuters) – Sri Lankan rupee one-week forwards traded weaker on Monday due to importer dollar demand while dealers said the rupee was under pressure due to lack of exporter dollar conversions amid moral suasion by the central bank .One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee in the absence of trade in three-day forwards on Monday, were at 146.00/30 per dollar at 0527 GMT, weaker from Friday’s close of 145.90/146.10.“The (dollar) demand is there. But there are no sellers in the...
Subscribe to:
Posts (Atom)