Author: Ranjan Hulugalle
‘s stocks move up, but foreigners sell Rs1.5bn ahead of Presidential election
November 13, 2019 (LBO) – Sri Lanka’s stock market was strong ahead of Sri Lanka’s impending Presidential election to be held on Saturday November 16th. The Colombo Stock Exchange (CSE) major indices were up roughly .5% on relatively heavy turnover of Rs2bn (US$11mn). However, despite what appeared to be positive sentiments, foreigners took the other […]
All eyes on AKD as election campaigning ends at midnight
November 13, 2019 (LBO) – Intense campaigning for Sri Lanka’s Presidency will come to an end tonight at midnight. After a 48 hour cooling off period, Sri Lankans will go to the polls on November 16th to decide who will be the nation’s next President. Although the two main contenders are Housing Minister Sajith Premadasa […]
Taj Lanka Hotels (TAJ) revenue up 12% as Sri Lanka tourism recovers
November 11, 2019 (LBO) – Colombo Stock Exchange (CSE) listed Taj Lanka Hotels (TAJ) reported surprisingly robust revenue growth for the quarter ended September 2019. Revenue was up 12% year over year for the second quarter to Rs704mn. TAJ, the owner of the five star Taj Samudra Hotel in Colombo, reported a small loss for […]
”s viral video
November 10, 2019 (LBO) – Popular Non Cabinet Minister of Economic Affairs Dr. Harsha De Silva in a short video message highlighted the achievements of the UNF government headed by Prime Minister Ranil Wickremesinghe. online pharmacy premarin no prescription The Minister stated that his proudest achievement is that all development has been achieved while preserving […]
Daniel Alphonsus replaces Deshal de Mel as Advisor to Finance Minister
October 3, 2019 (LBO) – Finance Minster of Sri Lanka Mangala Samaraweera, speaking at a press conference on the management of the country’s debt situation, today announced that Daniel Alphonsus has replaced economist Deshal de Mel as Advisor to the Finance Minister. Alphonsus has a B.A. in philosophy, politics, and economics from Balliol College, Oxford […]
Resilient Sri Lanka reports positive GDP growth despite Easter Sunday terror attacks
September 19, 2019 (LBO) – Sri Lanka has reported GDP growth of 1.6% in the second quarter ended June 30, 2019. This positive growth has been reported despite the country’s tourist industry being virtually shut down after the Easter Sunday terror attacks. The Sri Lankan economy has been able to absorb serious shocks in the […]
Forward tourist bookings have fully recovered – JKH Deputy Chair
September 12, 2019 (LBO) – Forward bookings in the tourism sector of Sri Lanka’s largest conglomerate, John Keells Holdings (JKH), have fully recovered on a year on year basis according to JKH Deputy Chairman Gihan Gooray. These comments were made to news anchor Sri Jegarajah during a broadcast on CNBC Singapore. The comments come as […]
Cabinet Minister Navin Dissanayake is 50 today
September 9, 2019 (LBO) – Cabinet Minister of Plantation Industries Navin Dissanayake reached the age of 50 today. Dissanayake is the son of former UNP leader and Presidential candidate Gamini Dissanayake. Navin’s father was assassinated by the LTTE in 1994 at age 52 during his campaign for the presidency. Navin Dissanayake was just 25 years […]
Sri Lankan billionaire Raj Rajaratnam released after 8 years in prison
September 9, 2019 (LBO) – Former hedge fund titan and billionaire Raj Rajaratnam has been released from prison early after being incarcerated for almost 8 years. He was released approximately 2-3 years early due to a new law passed in the United States which proffers leniency to those who are over 60 years of age […]
‘s constitutional reform in address to Maldivian legislature
September 3, 2019 (LBO) – Prime Minister Ranil Wickremesinghe is on an official visit to the Maldives where he has recently addressed the Maldivian Parliament. He will also chair the Indian Ocean Summit on his multi-day visit. In his address to the Maldivian Parliament, he cited the democratic achievements of his government with significant focus […]
Foreign appetite for Sri Lankan bonds vanishes
September 2, 2019 (LBO) – Why have Sri Lanka’s government bonds become so unattractive? Foreign institutional appetite for Sri Lanka’s rupee denominated government securities has all but disappeared after years of robust demand. In just the last two weeks US$140mn has left the government bond markets leaving total foreign holdings of just Rs111bn (US$610mn). Sri […]
JKH trades above book value despite dull trading at the CSE
August 28, 2019 (LBO) – Stocks in Sri Lanka are continuing a streak of relatively dull trading with average daily turnover for the last 8 trading days hovering around Rs500mn (US$3mn) at the Colombo Stock Exchange (CSE). Foreign investor participation has been low, with negligible net foreign buying or selling. Foreigners have generally been net […]