Enterprise Ceylon Capital- Morning Story 20 May 2015

ri Lanka Morning Stories

Market data as at 05.19.2015;

* INDICES: CSEALL 11.18 at 7,266.20 (0.15%), S&PSL20 9.05 at 4,046.37 (0.22%)
* DOMESTIC PURCHASES: USD 8.81m; DOMESTIC SALES: USD 10.88m
* FOREIGN PURCHASES: USD 3.01m; FOREIGN SALES: USD 0.94m

Corporate News:

* Lanka IOC, a unit of Indian Oil Company reported 1.06 billion rupees loss in March 2015 against 722 million rupees profit reported last year, interim accounts showed. In the year to March profits were down to 1.8 billion rupees from 4.8 billion rupees a year earlier.
* Fitch Ratings Lanka has assigned DFCC Vardhana Bank PLC’s proposed Basel II-compliant senior debentures a final National Long-Term Rating of ‘AA-(lka)’ and proposed Basel II-compliant subordinated debentures a final National Long-Term Rating of ‘A+(lka)’, the rating agency said in a press release.

Economic/General News:

* The Lord Mayor of the City of London Alderman Alan Yarrow yesterday shared a raft of key measures Sri Lanka should prioritise if it is keen on becoming a competitive financial centre in the region.
* The Central Bank allowed the rupee to fall by 0.15% on Tuesday by guiding a daily trading band lower, the fourth downward adjustment since 30 April, a move dealers said reflected lower domestic interest rates and a broadly strong dollar.
* Sri Lanka has sold 3.29 billion rupees of nine year bonds after calling bids for two billion rupees of bonds, the state debt office said. The debt office on Tuesday sold the bond maturing on 15 March 2025 at weighted average yield of 9.01 percent.