Category: Economy and Markets
Avian Technologies receives Dell EMC Gold Partner status
One of the leading IT solutions providers in Sri Lanka, Avian Technologies announced that the Company has received the Dell EMC Gold Partner’ status, awarded to companies that record commendable achievements in terms of revenue generation and attaining certification. The EMC Gold Partner status enables Avian Technologies to reinforce the confidence that customers have already […]
LankaPropertyWeb.com eases the hassle of buying and selling property
Today’s busy lifestyle hastaken away the luxury of time to attend to all that entails a property transaction. This includes countless amounts of paperwork, finding lawyers and valuers, spending a day at government institutions to pay stamp duties,and consultbanksto fill in forms to applyfor a housing loan. LankaPropertyWeb’snew Buyer and Seller Assistance portal removes this […]
Foreign investors exit Sri Lanka government bonds in 2018
June 19, 2018 (LBO) – Foreign investors have been dumping Sri Lanka government bonds in 2018, after being big net buyers in 2017.Year to date, foreign investors have been net sellers of Rs22.5bn (US$140mn) of Sri Lanka government bonds. This is a reversal from 2017, where foreign investors were net buyers of Rs64.2bn (US0mn) worth […]
Sri Lanka GDP grows by 3.2-pct in Q1 2018
Jun 19, 2018 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) grew 3.2 percent in the first quarter of 2018 with positive growth recorded in the agriculture sub sector, official data from the Census and Statistics showed. The GDP at constant (2010) prices for the first quarter of 2018 recorded as 2, 223,856 million rupees, and GDP reported […]
Sri Lanka stocks close at record lows for 2018
June 18, 2018 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) continued its slow bleed lower with key indices closing at the lows for 2018. The All Share Price Index (ASPI), the market cap weighted measure of all listed stocks, closed down .33% to 6310. This broad price index now sits down close to 1% […]
Sri Lanka rupee hits new record low of 161.00; Stocks down
Jun 18, 2018 (LBO) – Sri Lanka’s stock and money markets got off to a slow start Monday with rupee dropping to a new low of 161.00 against the US dollar while stocks also showed a dip.The rupee opened at around 159.40/90 but by mid day was quoted around 161.00/05 to the US dollars in the […]
McLarens & Peak Engineering to offer facilities management solutions through new JV company
Jun 18, 2018 (LBO) – McOcean Property Developers (Pvt) Ltd., (a member of the McLarens Group) in a joint venture with Peak Engineering & Consultancy (Pte) Ltd., of Singapore, launched McPeak Lanka (Private) Limited; a company that offers Integrated Facilities Management Solutions to the local market. McPeak Lanka intends to provide integrated facilities management solutions […]
Heads of state institutions responsible for paying salaries to excess employees : Fin Min
Jun 18, 2018 (LBO) – The Government has decided that the Secretaries to Ministries, Heads of Departments, Chairpersons, executive officers and accountants of Government Institutions should take the responsibility of paying salaries to redundant workers they have employed in addition to the approved cadre. It is reported that there are over 7500 personnel employed in […]
SriLankan will continue to fly : The airline to break-even in three years: Min Kiriella
Jun 18, 2018 (LBO) – The government has no plans to close down SriLankan Airlines but the National carriers’ income and expenditure should be bridged, Minister Lakshman Kiriella said. The Minister of Public Entreprise and Kandy City Development also said that the airline is likely to break-even in three years. He made these comments while on […]
EPF proven a winner with its large divestiture of John Keells (JKH) shares to Malaysians in 2012
June 16, 2018 (LBO) – The EPF as of late has not been proven to be the most savvy investor, but with one of its biggest moves in the stock market 6 years ago, the provident fund clearly made the right choice. Early in 2012, Sri Lanka’s largest provident fund sold an 8.4% stake in […]
MTD Walkers (KAPI) reports a massive loss of Rs2.8bn
June 15, 2018 (LBO) – The woes of Colombo Stock Exchange listed stocks continue with the financial results of construction company MTD Walkers (KAPI). For the year ended March 31st 2018, KAPI has reported a staggering loss of Rs2.87bn, Analysts say this is one of the largest losses of any listed company in recent memory. […]
S&P SL20 includes Ceylinco Ins, Melstacorp, Softlogic Holdings & Vallibel One
Jun 15, 2018 (LBO) – Colombo Stock Exchange (CSE) has announced changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 mid‐year index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually) […]