FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» What will happen tomorrow?
by Mr. X Today at 4:09 pm

» "MFL" DEAL to 12 RS (multi finance plc)
by Wickyz Today at 3:00 pm

» FUTURE of BROWNS INVESTMENT PLC (BIL)
by ONTHEMONEY Yesterday at 6:53 pm

» Sri Lanka Investment Forum 2021
by samaritan Yesterday at 1:06 pm

» Related party transactions in Banks cause concerns
by ChooBoy Fri May 07, 2021 10:59 pm

» Daily Foreign Transactions
by Pradeep90 Fri May 07, 2021 10:24 pm

» Japanese money laundering via PABC Bank raise CB eye brows
by Lotus Eater Fri May 07, 2021 9:34 pm

» Principal governmental and regulatory policies that govern the banking sector in Sri Lanka
by Lotus Eater Fri May 07, 2021 9:18 pm

» Ban of chemical fertilizers is a great news
by ADVENTUS Fri May 07, 2021 6:29 pm

» DIPD/HAYC/HAYL
by ADVENTUS Fri May 07, 2021 1:11 pm

» Peoples leasing technically positive Target Price Rs 20
by Eranx Fri May 07, 2021 11:30 am

» PEOPLE'S LEASING & FINANCE PLC
by Eranx Fri May 07, 2021 11:29 am

» GLAS will be winner with Super Gain.
by Promoney Thu May 06, 2021 10:30 pm

» What happens in the market is absolutely 100% out of your control. Stock market for beginners
by Asoka Samarakone Thu May 06, 2021 9:45 pm

» Synergies of possible merger between Sampath Bank and PABC
by CHRONICLE™ Thu May 06, 2021 5:42 pm

» ACCESS ENGINEERING ( AEL.N )
by ADVENTUS Thu May 06, 2021 1:50 pm

» Prime Lands Residencies Limited (PLR)
by Nandun Thu May 06, 2021 10:42 am

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Captain Wed May 05, 2021 11:51 pm

» Growing Fear
by Wickyz Wed May 05, 2021 8:15 pm

» CONGRATULATIONS TO FINANCIAL CHRONICLE ON THIS 11TH YEAR
by CHRONICLE™ Wed May 05, 2021 3:31 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka Newpapers - 07.08.2014

Sri Lanka Newpapers - 07.08.2014

Go down  Message [Page 1 of 1]

1Sri Lanka Newpapers - 07.08.2014 Empty Sri Lanka Newpapers - 07.08.2014 Thu Aug 07, 2014 11:55 pm

SHARK aka TAH

SHARK aka TAH
Expert
Expert
UPDATE 1-Sri Lanka c.bank: Greater chance of rate cut than hike

* IMF has urged c.bank to hold policy rates, limit intervention

* Yields under downward pressure on c.bank's heavy dlr buying

* C.bank chief: can achieve 2014 credit, BOP surplus goals (Adds quotes, background)

By Shihar Aneez

Aug 7 (Reuters) - Sri Lanka's central bank chief said on Thursday there is a greater chance of a cut in key monetary policy rates than a hike, despite the IMF's advice to keep key rates on hold for the near term.

The central bank chief's comment came a day after yields on one-year government debt fell to 6.45 percent, below the rate of 6.50 percent at which the central bank mops up liquidity from commercial banks.

The central bank has been maintaining the key policy rates at a multi-year low since January to spur economic growth.

"The chances of rate reduction are more than chances of rate increase," Central Bank Governor Ajith Nivard Cabraal told Reuters in a telephone interview.

The International Monetary Fund, which has lent $2.6 billion to Sri Lanka, last week urged the central bank to keep key interest rates on hold for the near term, saying a "cautious approach is warranted".

Despite the policy-easing measures, growth of credit extended to the private sector has slowed to 2.2 percent year-on-year in May, its lowest since January 2010 and falling from 3.3 percent in April, the latest data showed.

"We are satisfied with the credit conditions," Cabraal said referring to the credit data after May.

"We see some new sectors coming in and those avenues are now using the credit. The credit growth will pick up and reach to the level we have envisaged early this year."

The central bank has estimated the $67 billion economy to expand at 7.8 percent this year, from a 7.3 percent in 2013. It also expects private sector credit to expand by 14 percent by the end of this year compared to 7.5 percent at the end of 2013.

STABLE RUPEE

The central bank's intervention in the foreign exchange market to keep the rupee stable has pumped more than $1 billion in local currency into the banking system.

The IMF last week said the central bank's intervention may create a perception that the rupee's exchange rate is implicitly fixed and it could lead market participants and firms to hold un-hedged foreign exchange risk on their balance sheets.

The rupee traded at 130.18/20 at 0601 GMT on Thursday. The central bank last month said that, had it not absorbed the dollars from the market, the currency would have appreciated to 125 rupees per dollar.

Banks say the increased liquidity has compelled them to invest all their spare cash in low-risk government securities.

"Of course liquidity will be high whenever there is a lot of inflows, which are from exports, various projects, portfolio investments and remittances," Cabraal said. "With these inflows we can achieve the $1.5 billion balance of payments surplus target as expected."

The economy grew by 7.6 percent in the March quarter, which analysts attributed to strong government spending on massive infrastructure projects financed with external commercial funds.

Despite low policy rates, demand for imports has contracted - resulting in the trade deficit shrinking for the eighth consecutive month in May. (Reporting by Shihar Aneez in New Delhi; Editing by Douglas Busvine and Simon Cameron-Moore)

http://www.reuters.com/article/2014/08/07/sri-lanka-economy-idUSL4N0QD1J520140807?rpc=401&feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&rpc=401

2Sri Lanka Newpapers - 07.08.2014 Empty Re: Sri Lanka Newpapers - 07.08.2014 Fri Aug 08, 2014 12:28 am

hasarel

hasarel
Manager - Equity Analytics
Manager - Equity Analytics
Thanks for the Inf.  Very Happy 

3Sri Lanka Newpapers - 07.08.2014 Empty Re: Sri Lanka Newpapers - 07.08.2014 Fri Aug 08, 2014 4:43 am

SHARK aka TAH

SHARK aka TAH
Expert
Expert


Colombo stock market end on positive note as core index witnessed second best gain recorded in a single session during the year. Investors were optimistic on equities during the day amid decreasing yields in fixed income securities. ASI gained 74.92 index points or 1.1% to end at 6,908.18 while 20-scrip S&P SL index gained 37.24 index points or 1.0% to close at 3,790.03. Price appreciations in equities such as Ceylon Tobacco (closed at LKR 1,158.00, +2.4%), John Keells Holdings (closed at LKR 240.00) & Carson Cumberbatch (closed at LKR 470.00, +2.2%) contributed favorably to index performance.

Daily market reached to LKR 2.2bn with support of several off-the-floor dealings recorded in counters such as Janashakthi Insurance (1.5mn shares at LKR 19.00), Access Engineering (1.0mn shares at LKR 27.00), Nations Trust Bank (0.6mn shares at LKR 80.00) & Chevron Lubricants (0.2mn shares at LKR 310.20). Crossing represented 7% of the total turnover.

John Keells Holdings emerged as the top contributor to turnover with LKR 505mn followed by Odel (LKR 138mn) & PC Pharma (LKR 107mn).

Gainers outweighed the losers 166 to 53, while 50 counters remained unchanged. Cash map declined to 38% from 41%. 72 counters reached 52wk high prices during the session and out of 72, 21 equities were financial institution counters. 4 counters touched 52wk low price levels.

Further, debenture issue of DFCC Bank oversubscribed within hours of opening for subscription. DFCC Bank raised LKR 1bn to utilize for the on-going lending activities of the bank.

Moreover, financial sector counters attracted heavy investor interest throughout session. Central Investments & Finance, PC Pharma, Union Bank and Brac Lanka Finance were among heavily traded equities.

Associated Motor Finance declared final dividend of LKR 4.00 per share. Stock closed at LKR 478.00, (+7.4%).

Foreign investors were net buyers with LKR 424mn worth of equities. Foreign participation was 23%. Net foreign inflows were seen in counters such as John Keells Holdings (LKR 480mn), Access Engineering (LKR 47mn), Chevron Lubricants (LKR 17mn) while net outflow was mainly seen in Odel (LKR 103mn).

Central Bank of Sri Lanka announced that public debt of the country reduced by 5% to stand at 74% over the country’s GDP as at end June 2014.

Lanka Securities Research

4Sri Lanka Newpapers - 07.08.2014 Empty Re: Sri Lanka Newpapers - 07.08.2014 Fri Aug 08, 2014 4:44 am

SHARK aka TAH

SHARK aka TAH
Expert
Expert


Updated: The Touchwood Investments PLC liquidation case was called before the Commercial High Court in Colombo today (07 August) and the lawyers appearing on behalf of the company’s Chairman/Chief Executive Officer Lanka Wijendra Kiwulegedera requested for further time till 25 August 2014 to submit the book of accounts and details of the assets and liabilities of the company to the Liquidator.

Court informed that a further extension of time [after 25 August] will not be granted. The case would be called again on 27 August.

5Sri Lanka Newpapers - 07.08.2014 Empty Re: Sri Lanka Newpapers - 07.08.2014 Fri Aug 08, 2014 4:46 am

SHARK aka TAH

SHARK aka TAH
Expert
Expert
Nestlé Lanka delivers good Topline and Bottomline Growth for Q2 2014

First half indicates solid financial performance

Revenue of LKR 16.7 billion, with a revenue growth of 9.1% (YoY)
Renovates the nutritional profile of Maggi Classic noodles range to include Vitamin A fortification
Nestlé Professional revolutionizes the premium coffee solutions market with the launch of Nescafé Alegria

Nestlé Lanka PLC, Sri Lanka’s leading Nutrition, Health and Wellness Company, recorded a revenue growth of 7.1% (YoY) for Q2 2014, posting a total revenue of Rs. 8.1 billion in the second quarter of the year.

The Company announced a net profit of LKR 976 million for the quarter benefitting from stable currency and commodity prices.

The second quarter for the year 2014 saw Nestlé continue to uphold its commitment as a leader in nutrition, health and wellness by fortifying its Maggi Chicken noodles and Maggi Curry noodles with Vitamin A, in celebration of the brand’s 30th anniversary. Addressing the prevailing micronutrient deficiency of Vitamin A in Sri Lanka, this latest nutritional enhancement and follows the range’s Calcium fortification in 2009 and the inclusion of vegetables in the noodles seasoning in 2012.

The food and beverage giant further enhanced its product portfolio with the launch of Nescafé Alegria, ‘Café style coffee made magically simple’; a coffee solution which offers an authentic, premium barista coffee experience with the simplicity, convenience and speed of a classic coffee machine.

Nestlé also continued to remain steadfast to its commitment of creating shared value in Q2. The Company has rolled out many initiatives over the years via its Nestlé Healthy Kids programme to enhance theoretical knowledge on nutrition, health and wellness whilst promoting an active lifestyle amongst children in Sri Lanka. Further reinforcing this endeavour, Nestlé Lanka partnered with the International Association of Athletics Federation (IAAF) in May this year, to celebrate World Athletics Day by sponsoring selected activities to promote the importance of a healthy lifestyle.

“The second quarter of the year consisted of two important product innovations, namely the Maggi noodles range with Vitamin A fortification, a reaffirmation of our commitment towards providing ‘tasty nutrition’ to our consumers; followed by the launch of Nescafé Alegria, geared to add significant value to our existing portfolio. Despite continuous challenges in the marketplace, Nestlé Lanka has been successful in maintaining a good revenue growth and consolidating its position as a leader in Nutrition, Health and Wellness in the country. We remain cautiously optimistic while continuing our efforts to maintain our growth and performance for the remainder of the year,” said Mr. Ganesan Ampalavanar, Managing Director of Nestlé Lanka PLC.

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum