Last Updated : 20-04-2014 00:01



Bourse hits 4-mth closing low on foreign selling

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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.
Views: 1576

CSE opens branch office in Ratnapura

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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.
Views: 1840

Ram cuts Sanasa Bank’s outlook; retains rating

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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
Views: 1591

CSE releases market listing guide to encourage investment

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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.
Views: 2746

SEC seeks rule change to lure pension funds to debt market

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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.
Views: 1683

Sri Lanka mulls corporate dollar bonds: SEC Chief

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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.
Views: 2456

Bourse in red amid slow foreign buying

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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.
Views: 2186

CSE to hold next investor forum in Hong Kong

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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.
Views: 3590

Aitken Spence puts two thermal power plants up for sale

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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.
Views: 3477

SEC to hold ‘Investment Day’ to educate public

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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.
Views: 2443

Fitch revises down NDB’s rating on shift in biz model

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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.
Views: 2553

Exports down; trade gap widens

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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.
Views: 2234

Market to rebound in 2H, ASI to hit 9,000

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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.
Views: 2014

New SEC Act for Cabinet approval next month

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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.
Views: 2515

NDB secures US $ 24 million IFC loan

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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.
Views: 2429

Rupee slides to 6-week low, bond sales weigh

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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.
Views: 2240

Hemas-Thai based Minor group in US $ 70mn hotel project

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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.
Views: 3569

CSE makes commitment towards DVP introduction

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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.
Views: 2440

Dull trading haunts corp debt market

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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.
Views: 4834

Shares fall to near 3-week closing low

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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.
Views: 2128

Shares slip from 1-week high; foreigners buy

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Shares slipped yesterday from their one-week high hit on Friday in thin trading, as retail investors booked profits in banking and hotel shares, but foreign buying in blue-chip companies helped an overbought market resist further fall.
Views: 1664

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The ride that ended in tears
Bad weather destroys houses in Mahakachchikodi
Good Friday
The ride that ended in tears
Bad weather destroys houses in Mahakachchikodi
Good Friday