A strong majority Government is extremely beneficial for the stock market as stock market investments are long term ideally 3-4 years, Dimantha Mathew, Head of Research at First Capital stated. “In relation to the bond market at the moment, since rates have dipped significantly there could be a selling pressure if a strong majority is…
Vallibel Finance reported yet another year of highs despite market turmoil with Revenue amassing to Rs. 9.7 billion in the financial year ending March against the corresponding figure of Rs. 8.7 billion in the previous financial year. The top-line bolstered by a growth of 11.12% is all the more commendable weighed against a negative outlook…
The United States is helping Sri Lankan apparel producers to export Personal Protective Equipment (PPE) to the United States. In partnership with the Joint Apparel Association Forum (JAAF) and the Sri Lanka Export Development Board (EDB), the program included two webinars for over 100 industry participants that prepared them to break into the U.S. market. The project was funded by the…
SYDNEY/LONDON (Reuters) – Nations in Asia imposed new restrictions on Monday, while an abrupt British quarantine on travellers from Spain threw Europe’s summer reopening into disarray, as the world confronted the prospect of a second wave of COVID-19 infections. In the United States, still dealing with its first wave as infection rates have climbed since June,…
Largest ever BASEL III, Tier 2 compliant, subordinated debenture in Sri Lanka signifies investor confidence in the State Bank People’s Bank’s BASEL III, Tier 2 compliant, Unlisted, Rated, Unsecured, Subordinated, Redeemable Debenture issue was oversubscribed receiving in excess of Rs. 20 billion worth of bids during the early hours of the opening day itself in…
The Central Bank of Sri Lanka yesterday (27) stated that further discussions are ongoing to secure an additional USD 1 billion, under a Special Bilateral Swap Agreement with the Reserve Bank of India. This is after CBSL entering into a $ 400 million bilateral currency SWAP agreement with the and the Reserve Bank of India…
Commercial Bank Credit Card holders can now conveniently and instantly settle their Credit Card outstanding via their mobile QR payment App by scanning a QR code appearing on the Bank’s website. This is the first time any Sri Lankan Bank has enabled QR code payments to settle Credit Card dues. In order to make the…
Economic pitfalls risk cooling Egypt’s hot money inflows CAIRO/LONDON/DUBAI (Reuters) – The threat of conflict in Libya, water security worries and a flatlining tourist sector risk upending a nascent rally in Egyptian bonds, bankers and economists say. The North African country has attracted a wave of foreign investor interest in the past three months, emboldened…
Lanka IOC PLC has recorded a loss of Rs. 795.45 million in the June 2020 quarter amid Coronavirus lockdowns, interim accounts showed. Whilst, comparing to the previous quarter, the company’s revenue has sharply dropped to Rs. 10.68 billion from Rs.18.43 billion. During the June quarter, there was a significant drop in fuel demand, due to…
The total outstanding central government debt has increased from Rs 13,031.5 billion to Rs 14,024.7 billion during the first four months of 2020, the latest weekly report by the Central Bank of Sri Lanka (CBSL) outlines. Accordingly, the Government’s debt has increased by Rs.993.2 billion within the first four months of 2020. Meanwhile, the total…
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