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Sri Lanka forum highlights paperless trade benefits
Nov 01, 2012 (LBO) – Reducing red tape and adopting paperless systems will improve competitiveness of South Asian countries whose intra-regional trade costs are almost 50 percent higher than those of East Asia, a UN trade official said. And getting importers and exporters involved in designing such systems is essential as government initiatives without private […]
Sri Lanka Treasuries yields up
Oct 31, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction with the 12-month yield rising as much as 08 basis points to 12. 56 percent, data from the state debt office showed. The debt office which is a unit of the Central Bank has in the past printed money and […]
Sri Lanka stocks close down 0.13 pct
October 31, 2012 (LBO) – Sri Lanka stocks closed down 0.13 percent Wednesday with S & P SL 20 index of large cap stocks closing higher at 4.18 points. The Colombo All Share Index closed at 5,513.64 down 6.98 points and the S & P SL 20 Index closed 4.18 points higher at 2988.05 up […]
Distress Call
Oct 31, 2012 (LBO) – Rescuers are still looking for four missing crewmen from a Vietnamese cargo vessel that sank in heavy seas 150 nautical miles off Sri Lanka’s eastern coast, an official said. Sri Lanka’s navy had tried to send a ship to the distressed vessel yesterday but could not reach the area due […]
Mixed Gains
Oct 31, 2012 (LBO) – Net profits of Sri Lanka’s Union Bank of Colombo rose 7.46 percent to 79.7 million rupees in the September 2012 quarter from a year earlier, with interest margins narrowing, interim accounts showed. The bank made 20 cents of earnings per share in the quarter based on 349 million shares in […]
‘s inflation eases to 8.9-pct in Oct
Oct 31, 2012 (LBO) – Consumer price inflation in Sri Lanka’s capital Colombo slowed to 8.9 percent in the 12 months to October from 9.1 percent a month earlier, data from the state debt office showed, as credit tightened after a balance of payments crisis. The statistics office said the Colombo Consumer Price Index, from […]
Sri Lanka economy to grow 7.0-pct in 2013 but risks emerge: RAM Ratings
Oct 31, 2012 (LBO) – Sri Lanka’s economic growth is likely to recover to 7. 0 percent in 2013 after slowing to 6.5 percent in 2012, helped by Chinese loans and domestic consumption, while new risks are emerging, RAM Ratings, a rating agency has said. A key regressive policy is the expropriation of citizens and […]
Sri Lanka stocks close down 0.55 pct
October 30, 2012 (LBO) – Sri Lanka stocks closed down 0.55 percent Tuesday with several blue chips losing ground. Dialog Axiata PLC slipped 0.20 cents to close at 7.80 rupees down 2.50 percent. Distilleries Company of Sri Lanka PLC closed at 142.00 rupees up 0.07 cents. Index heavy John Keells Holdings PLC slipped 1.30 rupees […]
Rating Action
Oct 30, 2012 (LBO) – Commercial Leasing and Finance Company Limited, a unit of Sri Lanka’s LOLC group has been rated (SL)A- with a stable outlook by ICRA Lanka, a rating agency. ICRA has also rated Lanka Orix Finance Plc, another unit (SL) A- in August. The parent holding company was also rated (SL) A […]
Sri Lanka Bogawantalawa Plantations returns to profit
Oct 30, 2012 (LBO) – Sri Lanka’s Bogawantalawa Plantations, which has interests in tea and timber said it made profits of 88.9 million rupees in the September 2012 quarter recovering from a loss of 127 million rupees a year earlier. Last year’s losses were partly caused by steep increase in gratuity liability following an increase […]