Category: Economy and Markets
LSEG Technology implements settlement solution for Singapore Exchange
Dec 20, 2018 (LBO) – LSEG Technology has successfully implemented Settlement and Central Securities Depository functionality for Singapore Exchange (SGX). In live operation from 10 December 2018, this was a whole market implementation, involving brokers, custodian banks, settlement banks, registrars and retail investors. Built upon the same technical and hardware framework as the Clearing (Central Counterpart) […]
Active trading in shares of John Keells Holdings (JKH)
December 20, 2018 (LBO) – Trading at the Colombo Stock Exchange (CSE) picked up with active trading in bellwether stock John Keells Holdings (JKH).JKH traded close to Rs2bn (US$11mn) worth of shares as trading neared the close for the day. The amount of shares traded today is close to 1% of the total outstanding shares […]
Vote on Account to be presented in Parliament tomorrow; 55-pct for debt repayments
Dec 20, 2018 (LBO) – Vote on Account to cover the expenditures of the first four months of 2019 to be presented in Parliament tomorrow, Mangala Samaraweera assuming duties as the Finance Minister told reporters.Accordingly, 1,765 billion rupees have been allocated for government expenditure from which 970 billion rupees have been allocated for debt servicing that includes interest […]
Hayleys Advantis unveils Sri Lanka’s largest distribution hub
Dec 19, 2018 (LBO) – Hayleys Advantis ceremonially unveiled Sri Lanka’s largest distribution hub – Advantis 3PL Plus Logistics City – in Kotugoda, Ja-Ela as part of the company’s expansion efforts aimed at serving its clients better through greater efficiencies and economies of scale. The company said the move bodes well for the nation’s vision […]
‘s Softlogic Life
Dec 19, 2018 (LBO) – LeapFrog Investments, a leading profit with purpose investor, today announced a USD 12 million dollar investment in Softlogic Life Insurance PLC, purchasing the shares of FMO, the Dutch development Bank. The company, growing at 2x the market, is one of Sri Lanka’s fastest growing life insurers, providing Sri Lankans with individual […]
Sri Lanka GDP 2.9-pct for third quarter 2018
Dec 19, 2018 (LBO) – The Department of Census and Statistics (DCS) Sri Lanka said economic growth rate of the country is estimated as 2.9 percent for the third quarter of 2018. The Gross Domestic Product at constant (2010) prices for the third quarter of 2018 recorded as 2,431 ,627 million rupees and GDP reported […]
China Securities Depository and Clearing Corporation and CDS Sri Lanka commits to corporation
Dec 18, 2018 (LBO) – Sri Lanka’s Central Depository Systems (Pvt) Ltd (CDS) and China Securities Depository and Clearing Corporation Limited (CSDC) recently committed towards pursuing a cooperative relationship in the areas of securities clearing and depository. This commitment was formalized with the signing of a MoU between the two depositories during a visit by CSDC […]
Ceylon Chamber facilitates efficient document approval process for exporters
Dec 18, 2018 (LBO) – A Memorandum of Understanding was signed between the Ceylon Chamber of Commerce and the Ministry of Foreign Affairs (MoFA) recently, for the certification of export related documents through the electronic Document Attestation System (e-DAS) of the Ministry. The MOU provides for the Ceylon Chamber of Commerce to use the e-DAS system […]
Hayleys Energy commences first oil and gas drillship lay-up at Hambantota, Sri Lanka
Dec 17, 2018 (LBO) – Sri Lanka’s Hayleys Energy Services announced the arrival of the oil and gas drillship “Aban Abraham” for a warm lay-up to the Hambantota International Port. Aban Offshore Limited, the company that own the vessel, is India’s largest offshore drilling services provider to oil companies, providing drilling operations, production and exploratory work […]
Constitutional violation cannot be rectified by way of an election: New PM
Dec 18, 2018 (LBO) – Taking oaths as Prime Minister of Sri Lanka, Ranil Wickremesinghe made a commitment to establishing normalcy in the country and continuing with the development agenda. In a special statement the reappointed Premier said that, this Constitutional violation cannot be rectified by way of an election. “It is also stated in the […]
Kaspersky Lab makes inroads into Sri Lanka with new distributor SATL
Dec 14, 2018 (LBO) – Global cybersecurity company Kaspersky Lab has been successfully expanding its business in the South Asia region. Continuing to have a strong hold in the Indian market, they have now moved to achieve a similar hold in Bangladesh and Sri Lanka. After a successful launch in Bangladesh in November, Kaspersky Lab are […]
‘s development priorities needed
What is Next for Middle-Income Asia and Sri Lanka? By Dr. Ganeshan Wignaraja* Decades of sustained economic growth have left the Asia Pacific with few lower-income countries. Absolute poverty levels are and will continue to keep falling. This is cause for celebration. But it also requires a new partnership between countries and development institutions to […]