Category: Markets
Expolanka parent aggressively buys EXPO shares in the market
September 5, 2022 (LBO) – SG Holdings, the parent company of Sri Lanka’s largest listed company Expolanka, has aggressively bought shares of (EXPO) during the past few days. According to discosures at the Colombo Stock Exchange (CSE), SG holdings has over the last few days bought over Rs1bn worth of shares of EXPO at market […]
SEC, CSE & CA Sri Lanka to capitalize on synergies to encourage & advance non-financial reporting
The Securities and Exchange Commission of Sri Lanka (SEC), the Colombo Stock Exchange (CSE) and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently signed a Memorandum of Understanding (MoU) to encourage and advance non-financial reporting in Sri Lanka. Through the MoU, the three institutions aim to capitalize on mutual interests and […]
DCTS to replace UK GSP; SL to benefit from duty-free exports to UK on more than 80-pct of products
Over 99% of goods exported from Sri Lanka eligible for duty-free access to the UK £69m of tariffs saved on exports to the UK under the new Developing Countries Trading Scheme The UK is reshaping trade with 65 developing countries, including Sri Lanka, through a new trading framework: the Developing Countries Trading Scheme (DCTS). The DCTS […]
‘s stock exchange: Few people control it & few people rig it, says President
President Ranil Wickremesinghe says that he has questions about putting shares of the state-owned enterprises onto the current Stock Exchange. “What is the platform for restructuring? Many of you say, send it to the Stock Exchange.I have my questions about it. The Stock Exchange is today identified not with the London Stock Exchange,” Wickremesinghe pointed […]
SEC overhauls regulations; introduces a Code for Collective Investment Schemes
The Securities and Exchange Commission of Sri Lanka (SEC), the securities market regulator has prepared Rules pertaining to Market Institutions, Market Intermediaries and a Code for Collective Investment Schemes following the enactment of the new Securities and Exchange Commission Act No. 19 of 2021. These Rules which were made in terms of the powers vested in […]
CFA Capital Market Awards 2022 fetes best in the investment profession
The ninth annual CFA Capital Market Awards, organized by the CFA Society Sri Lanka, was held on Wednesday (29 June) at the Oak Room of Cinnamon Grand Colombo, recognizing and rewarding excellence in the local capital markets, with this year’s event focusing on the theme ‘Blockchain Revolution in Sri Lanka’s Capital Market’. Delivering the opening […]
Sri Lanka exports recorded 5-billion-dollar mark in five months
Earnings from the merchandise exports increased by 9.9 % y-o-y to US$ 980.2 Mn in May 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles, Coconut based products and Electrical & Electronic Components. Table 1: Merchandise Export Performance […]
We will support govt in reinstating previous tax regime & IMF reforms: Eran Wickramaratne
Statement on Sri Lanka Defaulting on Foreign Debt Payments by Eran Wickramaratne M.P., Former State Minister of Finance On 12 April 2022, Sri Lanka suspended repayment on most of the government’s external foreign currency debt, including the International Sovereign Bonds (ISBs) and bilateral debt. With the end of the 30-days grace period since the ISB […]
CSE consolidates gains on heavier trading volume
May 18, 2022 (LBO) – Colombo stocks consolidated gains after a recent sharp three day rally. Major indices finished down slightly on the day but are still up over 10% in the last week. For the first time during the recent upsurge, daily trading reached a value of approximately US$10mn. This level of volume would […]
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May 17, 2022 (LBO) – The stock market in Sri Lanka continued its surge for the third consecutive day, with the two major indices finishing up in the range of 5-6% on the trading session. Volumes continued to be relatively light, with less than US$10mn worth of stocks traded on the day. In the last […]
Sri Lankan mutual funds’ outflows rise amid economic turmoil: Fitch
The Sri Lankan mutual fund industry experienced large outflows in March 2022 with total assets under management (AUM) shrinking by more than 8% to LKR178 billion (around USD0.5 billion), based on Unit Trust Association of Sri Lanka (UTA) data, Fitch Ratings says in a new report. The country’s economic and social instability may have driven […]
Ranil Rally – stocks up another 5%
May 13, 2022 (LBO) – Sri Lanka’s main stock market indices continued their surge finishing the day up another 4-5%. This comes on the back of yesterdays 3-4% gains on speculation that Ranil Wickremesinghe would be sworn in as Prime Minister for the 6th time. As Wickremesinghe assumed duties at the Prime Ministers Office today, […]