Category: Economy and Markets
Stock market halted after S&P SL20 drops over 7.7-pct
Colombo Stock Exchange (CSE) on Tuesday halted its trading for 30 minutes due to the S&P SL20 index dropping over 7.7% from the previous close. The CSE said the halt will be lifted at 2.17 p.m. Regular trading was halted for 30 minutes earlier in the day as well after the S&P SL20 index dropped […]
Sri Lanka inflation at 3-pct for Jan 2021
Feb 02, 2021 (LBO) – The overall rate of inflation as measured by CCPI on Y on Y basis is 3.0 percent in January 2021 and Y on Y inflation calculate for the month of December 2020 was 4.2 percent. As per the Statistics Department, Year on Year inflation of both the Food Group and […]
‘s foreign currency reserves fall below foreign debt obligations
Sri Lanka’s foreign currency reserves which were at USD 5.7Bn as of December 2020, have now marginally fallen below the foreign debt obligations for the first time in the recent past as foreign currency reserve cover falls below 1.0x. Official reserve assets of the country stood at USD 5,665Mn as of 31 December 2020 while […]
Union Assurance awarded for excellence in integrated reporting for 2020
Reaffirming its commitment to the value of transparency, accountability and integrity while maintaining an exceptional financial track record, Union Assurance PLC was awarded among the 10 Best Integrated Reports at the 2020 CMA Excellence in Integrated Reporting Awards, organized by the Institute of Certified Management Accountants of Sri Lanka. The Awards are based on a […]
Minister green lights productivity-linked wage proposal for RPCs: Unions are still to agree
Feb 01, 2021 (LBO) – On the request of Labour Minister, Nimal Siripala de Silva, Regional Plantation Companies (RPCs) submitted a revised wage proposal to remunerate workers up to 1108 repees a day. The revised proposal was a result of a settlement, negotiated with the assent of the Minister. However, trade unions are still to […]
Ceylon Chamber to host Outlook 2021 forum next week
The Ceylon Chamber’s annual discourse on the year’s Outlook will be held virtually on 3rd February 2021, organised by the Chamber Academy. The Outlook webinar will provide the private sector with key insights on global and local indicators as well as perspectives to navigate through the evolving economic and policy climate which would help companies […]
JKH Group revenue and EBITDA, excluding leisure, increases by 5-pct
Jan 27, 2021 (LBO) – Despite the isolation measures adopted by the authorities due to the second wave of the COVID-19 outbreak in early October 2020, which caused a slowdown in business activity and dampened consumer sentiment, the subsequent gradual easing of restrictions enabled the businesses across the Group to recover to near normal levels […]
Sri Lanka can achieve a greener and more prosperous future
By Andrew Zakharenka, Natural Resources Management Specialist Farmers, hoteliers and homestay owners, fishers, producers of the famous Kanthale milk curd, Ayurveda healers, fruit growers, developers, safari jeep drivers, local dwellers—all derive their livelihoods from shared natural resources offered by the Hurulu-Kaudualla-Kanthale (HKK) Landscape. Located in the North East of Sri Lanka and home to 650,000 […]
Lina Spiro launches Sri Lanka’s first metered-dose inhaler manufacturing plant
Sunshine Healthcare Lanka (SHL), the healthcare arm of the diversified conglomerate Sunshine Holdings PLC (CSE: SUN), officially commenced the operations of its subsidiary, Lina Spiro (Pvt) Ltd, Sri Lanka’s first Metered-Dose Inhaler (MDI) manufacturing plant in Kadawatha today. The State Minister of Production, Supply and Regulation of Pharmaceuticals, Prof. Channa Jayasumana ceremoniously declared open the […]
Global equity interest in emerging markets expected to trickle down to CSE: Ceylon Asset Management
Jan 26, 2021 (LBO) – Local investors should exploit attractive valuations of the CSE before a Sri Lanka country rating revision and foreign investor confidence returns to the CSE, a new report says. “Invest in the Colombo Stock Exchange. Investors should include equity in portfolios during 2021, before PE ratio exceed 15X, ” the Ceylon […]
CSE issues new guideline for Stockbroker Firms to implement with immediate effect
In consultation with the Securities and Exchange Commission (SEC), the Colombo Stock Exchange (CSE) has issued a set of guidelines on best practices for Stockbroker Firms which are required to be adopted and implemented with immediate effect. The guideline has been approved by the SEC Commission on 13 January 2021 and were presented to the […]
SEC advises investors not to rely on unsolicited stock tips circulated through social media
The Securities and Exchange Commission of Sri Lanka (SEC) has observed that unsolicited messages purporting to be stock tips/ investment advice with respect to listed companies are being circulated through short message service (SMS), websites and social media platforms like WhatsApp, Facebook, Twitter, YouTube etc. The SEC has noted that these messages have been directed […]