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Wealth Trust’ Debt Market Report Liquidity surges and foreign holding in Government securities reaches its limit As predicted yesterday, with the announcement of an Rs 58 Bn repo auction by the Open Market Operations (OMO) department of Central bank, secondary market Treasury bill and bond rates declined marginally reflecting a downward shift on the yield ...
The Central Bank said that inflows continued to improve in May, with better prospects in July as well. It said with respect to inflows to the services account of the balance of payments, earnings from tourism in May 2012 grew at a healthy rate of 20.6%, year-on-year, to $ 57 million, while during the first ...
Reuters: China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund said in a report on Wednesday that urged further reform and currency appreciation to rebalance growth and reduce risks. The report said economic reforms so far had substantially reduced external imbalances, but at the cost of significant ...
‘What do foreigners see that locals don’t?’ was a question posed at a recent stock market forum, and proving its relevance, non-nationals continue to dominate the Colombo Bourse with net inflows topping Rs. 400 million in the past two days. Yesterday net foreign buying amounted to Rs. 251 million, on the back of Rs. 178 ...
Renews call for Select Committee to probe shady deals; wants EPF investments in stocks halted Blasts President-Bourse forum Says CSE Board must be dissolved Akin to firing all cylinders, Opposition Leader Ranil Wickremesinghe has blasted President Mahinda Rajapaksa’s forum with capital market stakeholders and renewed the call for the appointment of a Parliamentary Select Committee ...
Many large-cap shares generally reach the maturity stage since the turnover and profits of large companies are already high in the context of that particular market. On the other hand, mid-cap shares are considered an attractive investment avenue because their growth rate will be comparably higher. Mid cap companies are generally in the growth momentum ...
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets are well aware of the risk-return tradeoff intrinsic to these markets. Low ...
NDB Chief Operating Officer (Services) Chrishanthi Jayawardena was conferred the ‘The Woman Super Achiever Award 2012’ by the CMO Asia Council in recognition of her unique achievements, leadership and professionalism. Nearly 200 corporate leaders and decision makers were present at the prestigious award ceremony held on Thursday, 19 July in Singapore. The CMO Asia is ...
By a Special Correspondent A year or back from today, Sri Lankan economy had been sailing strongly amidst global economic typhoons. Most of the macro variables were reflecting peace dividends and rejuvenated hope. However, by mid 2011, the country’s trade deficit, fuelled by credit expansion was signalling early signs of an economic turmoil. Perhaps being ...
Marketing process for sales persons Under the marketing concept, the firm must find a way to discover unfulfilled customer needs and bring to market products that satisfy those needs. The process of doing so can be modelled in a sequence of steps: the situation is analysed to identify opportunities, the strategy is formulated for a ...
By Uditha Jayasinghe Following the end of the US$ 2.5 billion Stand-By Agreement, the International Monetary Fund (IMF) remains upbeat about the Sri Lankan economy and further collaboration will be finalised later this year, an official said yesterday. The IMF transferred the final tranche of US$ 415 million of the SBA to Sri Lanka on ...
COLOMBO (Reuters): Sri Lanka’s rupee gained 0.6 percent against the dollar on Monday to its highest level since mid June on inflows into government bonds and IMF approval to disburse a $415 million loan tranche, dealers said. The rupee closed at 130.90/131.10 against the dollar, its strongest since June 11, and firmer than Friday’s close ...
Janashakthi Insurance, one of Sri Lanka’s largest listed insurers, continues its winning streak to emerge the triumphant winner of two prestigious awards for corporate social responsibility and exceptional branding and marketing at the recently concluded CMO (Chief Marketing Officer Council) Asia Awards held in Singapore. The insurer gained recognition at the international event by securing ...
An important feature of the recent Sri Lanka Economic Summit, which both the Guest Speaker Gurcharan Das, Author, Columnist and Management Consultant and Keynote Speaker Dr. Kalpana Kochar, Chief Economist – South Asia of the World Bank, referred to were the opportunities presented to Sri Lanka by the ongoing process of globalisation and particularly the ...
Reuters: Asian shares slid and the euro hovered near multi-year lows hit earlier on Monday, as Spain sparked concerns about its ability to stave off a sovereign bailout after two indebted regions sought financial assistance from the central government. Fears the euro zone’s fourth largest economy will be forced to follow Greece, Portugal and Ireland ...
Final tranche of $ 415 m received bringing the total to $ 2.548 b during three years of SBA Govt. to stick with flexible exchange rate policy; confident of containing Budget deficit at 6.2% of GDP With the record setting successful completion of the US$ 2.54 billion IMF’s Stand-by Arrangement (SBA), the Government has expressed ...
Following the success of its IFRS and SLFRS programmes held in Colombo, MBSL continued its thrust in spearheading seminars of vital importance to the revival and development of the economy of the country. The program was conducted on 22 June 2012 at the Kandyan Reach Hotel, Kurunegala. The much-required programme reflected the urgent need ...
Needs to pay $ 4.9 b to China for total loan of $ 2.96 b China, ADB leading lenders, Western loans low Govt. has borrowed $ 5 b through five euro bonds Reuters: Sri Lanka will have to repay more than $ 15 billion to foreign lenders such as China and the Asian Development Bank ...
‘Shakthi’ fundraiser by Emerge Lanka Foundation today ‘Shakthi, a Celebration of Femininity,’ a fundraiser for Emerge Lanka Foundation to spread awareness about sexual assault/abuse through artistic avenues, will be held at Barefoot Café today, 21 July, from 6 to 10 p.m. Emerge Global is dedicated to empowering young women around the world who have ...
By B.A.B. Goonetilleke Sometime in 2009, in what was to become a defining moment in the new Digital Age, Bradley Manning, a 24-year-old Army private based at an outpost in Iraq, began to download a veritable trove of classified cables dispatched by US missions around the world on to a thumb drive. Whether Manning stepped ...
Impending discussion bolsters investor sentiment as Bourse value gains by Rs. 27 b; some link it to sovereign bond success The Colombo Bourse yesterday staged a mini rally sentiment wise in anticipation of a positive meeting between President and Finance Minister Mahinda Rajapaksa and capital market stakeholders today. The market’s value rose by Rs. 27 ...
RAM Ratings Lanka said yesterday it has reaffirmed Commercial Bank of Ceylon PLC’s long- and short-term financial institution ratings at AA+ and P1, respectively; the long-term rating has a stable outlook. The ratings are premised on the Group’s strong market position as Sri Lanka’s largest privately owned licensed commercial bank and third-largest overall LCB. The ...
Reuters: Sri Lanka now expects 2012 tea production of around 325 million kg, below its target of 330 million kg, as output has fallen in the last five months due to drought, the State-run Tea Board said. Tea production in the first half of the year fell 4.3 per cent year-on-year to 163.26 million kg ...
Euromoney, a leading international financial magazine, has adjudged Commercial Bank the Best Bank in Sri Lanka, giving the country’s largest private bank its fourth such accolade since March this year. The Bank received the prestigious ‘Euromoney’ Best Bank in Sri Lanka award at a gala awards event in Hong Kong on 12 July. Commercial Bank ...
Reuters: India’s lawmakers voted for a new president on Thursday, ending weeks of wrangling and opening a much-hyped political window billed as the best chance for Prime Minister Manmohan Singh to launch a wave of reforms and reverse an economic slowdown. India’s markets are anticipating quick action to relax investment rules and cut subsidies once ...
Industry experts urge disillusioned local investors to ‘buy when it’s down and sell when it’s up’ In a highly volatile atmosphere and with low investor confidence in the Colombo Bourse, experts earlier this week went against the negative sentiments and instead stated that now is the time to buy. These views were aired at a ...
A port city is an extension to the port, in order to acquire the advantageous facilities of the port and the port background to shape up the environment of the city surrounded by port. This is not a novel concept where many countries are adapting this principle to achieve their economic and leisure goals. Baltimore ...
The rupee strengthened on Wednesday, a day after the country sold a $ 1 billion, 10-year euro bond, raising hopes the rupee could reverse its trend of depreciation, dealers said whilst Bourse failed to cheer up. The rupee closed at 133.50/65 against the dollar, firmer than Tuesday’s close of 133.85/90. “There were huge inflows into ...
Fitch Ratings has assigned Sri Lanka’s People’s Leasing Company Plc (PLC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of ‘B+’ with a Stable Outlook. A list of PLC’s outstanding ratings (including the above) is provided at the end of this commentary. PLC’s IDRs reflect the capacity and willingness of its state-owned and systemically import...
Newly-sold bonds from Sri Lanka dominated trading with the 2022s trading as high as 101.75 even after pricing at an aggressive level. The older bonds due 2021 are a quarter of a point lower at 103.75/104.75. The iTraxx IG series 17 was quoted at 164bp/166bp, about one basis point tighter and sovereign paper remained in ...