Category: Markets

Mar 26, 2015 (LBO)-Sri Lanka’s Softlogic Finance PLC’s said its rights issue which was over-subscribed by over 150 per cent with the new equity infusion of 401 million rupees, came at an opportune time with demand for credit by the private sector showing notable increases on the back of reduction of interest rates to multi-year […]

Mar 26, 2015 (LBO) – Sri Lankan venture engine angel investor group in partnership Blue Ocean Ventures and the Indian Angel Network (IAN) called for fresh business proposals from start-ups who are looking for funding and mentoring support, a statement said.The company said, 15 new companies have been funded by the programme to the value […]

Mar 25, 2015 (LBO) – Sri Lanka’s Fitch Ratings has withdrawn the rating on diversified conglomerate John Keells Holdings (JKH), the rating agency said in a statement. Prior to the withdrawal, JKH’s National Long-Term Rating was at ‘AA+(lka)’ with Stable Outlook. The rating has been withdrawn because there will be insufficient information to maintain the […]

Mar 25, 2015 (LBO) – Sri Lanka’s shares dipped further on Wednesday with the benchmark index sinking below the 7,000 mark to a near seven-month low amid continuing political uncertainty, brokers said. The downturn in Sri Lanka’s stock market deepened with the Colombo benchmark All Share Price Index closing 24.90 points lower at 6,973.03, down […]

Mar 25, 2015 (LBO) – Sri Lanka is lucky it managed to postpone the vote at the Human Rights council and avoid possible international sanctions, newly appointed state Minister of Finance, Mahinda Samarasinghe said, Wednesday. “Some are saying the economy is down and the stock market is down, but they never think of the good […]

Mar 25, 2015 (LBO) -Today during mid-day trading All Share Price Index (ASPI) of Colombo Stock Exchange (CSE ) dropped below 7000.Informed sources say inconsistency in government policy and the fact that coalition partners do not seems to see eye to eye on many important matters are denting investor confidence.Analysts say the market dropped mainly […]

Mar 25, 2015 (LBO) – Sri Lanka’s Odel Plc, one of the island’s largest fashion retail outlets,acquired Softlogic group’s branded retailing unit for 599.9 million rupees looking at purchasing power of customers in the island, the company said in a stock exchange filling. The statement said, the action was taken in a move to integrate […]

Mar 23, 2015 (LBO) – Sri Lanka’s industries and markets should wait till the new rulers call for a general election and give time for the new government settle in, the Colombo Stock Exchange Chief said at the capital market conference 2015, held in Colombo recently.However he said, consistency in policy should be maintained to […]

Mar 23, 2015 (LBO) – The Colombo Stock Exchange has signed an agreement with UK’s BTA Consulting to provide consultancy and project management services to set up a clearing house in Sri Lanka. The full text of the CSE announcement is reproduced below. CSE signs consultancy agreement with BTA Consulting, UK to set up a […]

Mar 13, 2015 (LBO)- Fitch Ratings has affirmed Sri Lanka based telecoms company Dialog Axiata PLC’s ,’AAA(lka)’ National Long-Term Rating with a stable outlook despite new government’s one-off tax of 250 million rupees on each mobile operator and “super gains” tax of 25 percent on profit. Press Release Reproduced below:- KEY RATING DRIVERS Stand-Alone Profile […]