Category: Economy and Markets
Central Bank releases publication with highlights of 2018 & prospects for 2019
Oct 30, 2018 (LBO) – Central Bank of Sri Lanka today released its half-yearly publication – “Recent Economic Developments: Highlights of 2018 and Prospects for 2019”. A summary of the performance of the Sri Lankan economy in 2018 as reflected in this publication is given below: [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2018/10/Press-Release-E.pdf” title=”Press Release (E)”]
Piramal Glass top line grew by 14-pct during half year ended Sept 2018
Piramal Glass Ceylon PLC has reported its results for the 1st half of the year FY 2018-19 with Rs. 3,586 million of Revenue and Rs. 38 million of Profit After Tax as against the similar period of the previous year which was Rs.3,082 million and PAT of Rs. 154 million. At half year the Company’s […]
‘s political standoff lifts refinancing risk: Fitch Ratings
Oct 30, 2018 (LBO) – Sri Lankan president’s sudden replacement of the prime minister on 26 October highlights tensions within the coalition government and creates uncertainty over further progress on reform and fiscal consolidation, says Fitch Ratings. Prolonged political upheaval accompanied by deterioration of policy continuity could undermine investor confidence and make it more challenging […]
John Keells (JKH) stock flying – approaching 150/share as foreigners selling
October 30, 2018 (LBO) – Shares in Colombo Stock Exchange (CSE) bellwether John Keells Holdings (JKH) are soaring with the stock approaching Rs150/share after recently hitting multi-year lows. The stock has had a strong near 20% bounce off the lows.Volume is light so far today even as the stock is up 4%.Yesterday there was heavy […]
Sri Lanka export income up in Aug 2018: Reserves at USD 8.6Bn
Oct 30, 2018 (LBO) – The Central Bank of Sri Lanka said the island’s external sector performance remained subdued in August 2018. “During the month, the deficit in the trade account narrowed marginally compared to a year earlier as the rise in export income outpaced the growth in import expenditure,” it said. Meanwhile, other inflows […]
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Oct 29, 2018 (LBO) – Moody’s says the current political crisis in Sri Lanka is credit negative for the sovereign and the President’s sudden appointment of Mahinda Rajapaksa as Prime Minister significantly heightens policy uncertainty. Issuing a statement, Matthew Circosta of Moody’s Investors Service said the possible social tensions that may unfold in the next few weeks […]
Parliament passes resolution to raise Rs.310Bn under Active Liability Mgmt
Oct 26, 2018 (LBO) – Sri Lanka’s Parliament on Friday passed a resolution to raise up to 310 billion rupees by way of loans, in or outside Sri Lanka under the Active Liability Management Act. The Active Liability Management Act provides the legal framework for the government to raise loans for management of public debt […]
John Keells Holdings (JKH) moving higher, up over 10% from multiyear lows
October 26, 2018 (LBO) – Shares in Colombo Stock Exchange (CSE) bellwether John Keells Holdings (JKH) have been in rally mode since touching multiyear lows of Rs126/share a few weeks ago. The stock closed the day up 3.4% to Rs140/share on volume of approximately Rs150mn. Shares in JKH were active yesterday as well with close […]
EU Ambassador appreciates progress being made to resolve investor issues
Oct 26, 2018 (LBO) – EU Ambassador Tung-Lai Margue participating in the 7th Edition of EU Dialogue that was held last week, has appreciated the encouraging progress being made by Sri Lanka to resolve investor issues. This meeting was held with several issues relating to EU companies in Sri Lanka being taken up for resolution. The […]
Colombo Stock Exchange withdraws trading suspension on Adam Investments
Oct 25, 2018 (LBO) – Colombo Stock Exchange says the proposed trading suspension of the securities of Adam Investments will not be effective from 29 October 2018.The exchange further said the company has resolved the matters giving rise to the qualified opinion in the independent auditors report on the financial statements for the year ended […]
Finance Ministry launches dedicated hotline for Enterprise Sri Lanka
Oct 25, 2018 (LBO) – Sri Lanka’s Finance Ministry has introduced a call center and a hotline number 1925 to assist and resolve issues faced by entrepreneurs under the Enterprise Sri Lanka credit scheme. Accordingly, any entrepreneur can dial the special information hotline to submit their inquiries, complaints, and feedback. Under this scheme, over 58,817 […]
Harsha salutes Dumindra Ratnayake, critical of his removal as BOI Chairman
October 25, 2018 (LBO) – State Minister of National Policies and Economic Affairs Dr. Harsha de Silva used a Facebook post to praise the former Chairman of the BOI Dumnidra Ratnayake, and criticise the way he was removed. The Facebook post is reproduced below: Thank you Dumi. The loss is certainly ours! This is to […]