Sri Lankan stocks recovered from their lowest level in more than four months yesterday as investors picked up large cap shares such as Ceylon Tobacco Company Plc and Nestle Lanka Plc, but foreign outflows continued for the fourth day.
Sri Lankan stocks closed at their lowest level in more than four months yesterday with trading volume slumping to near three-week lows as foreign outflows continued for the third day, while retail investors stayed on the sidelines amid a falling rupee, brokers said.
The Colombo Stock Exchange (CSE) opened its newest branch in Ratnapura yesterday making it the seventh branch office Sri Lanka’s only equity exchange has islandwide.
The ‘outlook’ on Sanasa Development Bank PLC (SDB), a licensed specialized bank (LSB) has been revised to ‘stable’ from ‘positive’ by Ram Ratings Lanka, with respective long and short term ratings at BBB and P3
The Colombo Stock Exchange (CSE) yesterday launched a publication titled ‘A guide to listing on the CSE’, in a bid to raise awareness on equity listing and corporate debt securities.
While steps are being taken towards facilitating US dollar bonds issuances by Sri Lankan corporates, capital market regulator is currently exploring the possibilities in getting the restriction on large pension funds in investing in the country’s corporate debt market, relaxed.
In a bid to open Sri Lanka’s corporate debt market to foreign investors, country’s capital market regulator, the Securities and Exchange Commission (SEC) is currently in discussions with the Central Bank to facilitate the issuing of foreign-denominated debt by the corporate sector, according to SEC Chief.
The main All Share Price Index (ASPI) of the Colombo Stock Exchange dropped below the psychological 6,000 point mark yesterday amid lack of foreign buying in the market.
The Colombo Stock Exchange (CSE) has planned its third investor forum outside Sri Lanka to lure foreign investors to the country’s capital market. The investor forum will be held on September 9 at the Island Shangri-La Hotel in Hong Kong.
Two thermal power plants belonging to Aiken Spence PLC have been put up for sale following the lapse of the power purchase agreements they had with Ceylon Electricity Board.
The Securities and Exchange Commission of Sri Lanka (SEC) in its endeavour to develop an efficient and effective capital market has organized “Investment Day 2013” at the Sri Lanka Exhibition and Convention Centre on July 6 (from 9.00 a.m. to 5.00 p.m.) under the auspices of Economic Development Minister Basil Rajapaksa.
Fitch Ratings has downgraded National Development Bank (NDB) national long-term rating to AA- with a ‘Stable Outlook’ as a result of possible increase in bank’s risk profile due to a change in its business model.
Sri Lanka's trade gap widened 19.2 percent Year-on-Year (YoY) in the month of April to US $ 825.4 million amid slowing down of exports
earnings by 6.87 percent YoY to US $ 696.6 million.
A host of positive factors ranging from healthy corporate earnings to lower interest rates and return of funds to long term investments will enable Sri Lanka’s capital market to bounce back strongly in the second half (2H) of this year, an equities report by a local brokerage said.
The new Securities and Exchange Commission (SEC) Act is now finalized and the SEC Commission will formally approve the amendments proposed within two weeks before it will be sent for Cabinet approval next month, the SEC Chairman said.
IFC, the private sector investment arm of the World Bank Group has extended a US $ 24 million tenor loan to National Development Bank (NDB), the bank said in a statement.
Sri Lanka's rupee hit a six-week low yesterday, weighed down by banks' demands for dollars to settle bond-related sales and importer buying of the U.S. currency, dealers said.
Sri Lanka's Hemas Holdings PLC, a family run conglomerate with a strong presence in FMCG and healthcare sectors has embarked on to develop 3 new hotel properties in partnership with Thai based Minor Group, a top official of the firm said.
The Colombo Stock Exchange (CSE) is striving to introduce the real- time margining and Delivery Versus Payment (DVP) mechanism for settlement of equities, despite certain setbacks in the implementation process, a top official said.
Despite the fact that a growing number of listed companies have been offering debentures as a way to raise capital, the market analysts find that those debentures are hardly seen trading in the secondary market, which is instrumental for the development of a vibrant corporate debt market, Mirror Business learns.
Sri Lankan shares fell for a third straight session yesterday to their lowest close in nearly three weeks, as investors booked profits in blue-chip companies like John Keells Holdings and Commercial Bank of Ceylon in an overbought market.
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