BRS Morning Shout

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BRS MORNING SHOUT

15th July 2016

BUSINESS

INTERNATIONAL

The controlling interest of

Asian shares extended gains to

days Treasury bond auctions

Agalawatte Plantations Plc

eight-month highs on Friday,

were seen dipping considerably;

was sold yesterday by Mack-

on track for a solid weekly rise,

well below its previous weighted

woods Plantations Ltd., for Rs.

as better-than-expected eco-

averages and below market ex-

304 million to Browns Group,

nomic data from China lifted

pectations as well, on the back of

a move justified by the seller.

risk sentiment that was already

indirect buying into it. (1)

(4)

buoyant after record highs on

ECONOMY
The weighted averages at yester-

Wall Street. (7)

In Forex markets yesterday, the

Tea prices rose at this weeks

Three Federal Reserve policy-

USD/LKR rate on the active one

Colombo auction with some

week forward contract was seen

types grown on plantation

makers on Thursday expressed

closing mostly unchanged at Rs.

company estates on the west-

the view that there was no

146.05/20, subsequent to hitting

ern slopes of the central hills

hurry to raise U.S. interest rates

intraday day high of Rs. 146.10.

up by Rs.20-30 a kilo on better

in the wake of the UK decision

(2)

quality. (5)

to leave the European Union.

(8)

The bulk of the debt service re-

Cement sales went up in 2015

Chinas economy stabilized as

lating to projects implemented

with strong demand from Sri

by the National Water Supply

Lanka's private and household

lending and consumer spending

and Drainage Board will be given

sector with state projects

perked up late in the June

to the Treasury (3)

slackening, Tokyo Cement

quarter, suggesting the worlds

group said. (6)

second-largest economy is responding to stepped up monetary policy support. (9)

See page no 03 for website references

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POLITICAL UPDATE
The Prime Minister Ranil Wickremesinghe in his capacity as Minister of National Policy and Economic Affairs has
by order published in the Gazette of July 11, brought into operation the Micro Finance Act no. 6 of 2016. http://www.ft.lk/article/555114/PM-publishes-Micro-Finance-Act#sthash.PQTO9h8S.dpuf

Denying accusations of involvement in the controversy-mired coal tender for the Lakvijaya power plant, Megapolis Minister Champika Ranawaka yesterday said the tender was called after his stint as Power Minister in 2015.
http://www.ft.lk/article/555108/Ranawaka-rejects-role-in-coal-tender-controversy#sthash.XeOPGo8r.dpuf

The Sri Lankan government plans to increase the tobacco tax to 90 percent, the country's Minister of Health Dr.
Rajitha Senaratne said today. - http://www.colombopage.com/archive_16B/Jul14_1468510793CH.php

FOREX MARKET (as at 14.07.2016)

Buying
(Rs)

Selling
(Rs)

Source: www.cbsl.gov.lk

COMMODITY MARKET (as at 14.07.2016)

Source: http://www.nasdaq.com/markets/commodities

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E-paper References
1 http://www.ft.lk/article/555015/Treasury-bond-weighted-averages-nose-dive-below-market-yields
2 http://www.ft.lk/article/555015/Treasury-bond-weighted-averages-nose-dive-below-market-yields
3 http://www.economynext.com/
Debt_service_of_Sri_Lanka_s_Water_Board_to_be_borne_by_tax_payers-3-5599-1.html
4 http://www.ft.lk/article/555121/Mackwoods-sells-control-of-Agalawatte-Plantations-to-Browns-for-Rs-304-m
5 http://www.economynext.com/Sri_Lanka_tea_prices_rise_at_Colombo_auction-3-5585-9.html
6 http://www.economynext.com/
Cement_demand_in_Sri_Lanka_up_with_household_sector__manufacturer-3-5582-4.html
7 http://www.reuters.com/article/us-global-markets-idUSKCN0ZV03P
8 http://www.reuters.com/article/us-usa-fed-idUSKCN0ZV007
9 http://www.bloomberg.com/news/articles/2016-07-15/china-s-economic-growth-stabilizes-on-supportfrom-policy-easing

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