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Sri Lanka at risk from global slowdown: World Bank
Jan 19, 2012 (LBO) – Sri Lanka’s post-war economic rebound is slowing and financial problems in key Western markets could reduce demand for the island’s exports and hit earnings from worker remittances and tourism, the World Bank said. Given the possibility of further weakening in the global economy, efforts at greater revenue mobilization particularly in […]
Sri Lanka in deals with Qatar sovereign fund, real estate unit
Jan 18, 2012 (LBO) – Sri Lanka has signed co-operation deals with Qatar Holdings LLC, a sovereign wealth fund and its wholly owned real property unit following a visit to the island by the emirate’s ruler, the foreign ministry said. Qatar Diar Real Estate Investment Company has signed a deal with Sri Lanka’s Board of […]
Sri Lanka mulls bond indices
Jan 18, 2012 (LBO) – Sri Lanka’s NDB AVIVA Wealth Management is working with India’s CRISIL rating and research agency to create indices to measure the performance of fixed income securities in the island. Experts from CRISIL, a subsidiary of Standard and Poor’s, have already analyzed data from the Sri Lanka’s government security market and […]
Sri Lankan shares slump 1.3-pct
Jan 18, 2012 (LBO) – The slide in Sri Lankan shares deepened Wednesday, despite the regulator allowing brokers to lend more money to buy stocks, brokers said. Newly listed Asia Asset Finance was the most actively traded stock and the day’s second biggest loser, closing at 5. 50 rupees, down three rupees with 21.1 million […]
Leasing Trend
Jan 18, 2012 (LBO) – People’s Leasing Co. , Sri Lanka’s largest leasing company, said net profit in the December 2011 quarter rose 46 percent to 832 million rupees from a year ago. December 2011 quarter revenue rose 65 percent to 4. 2 billion rupees from a year ago while earnings per share rose 53 […]
‘s Galle literary festival starts Wednesday
Jan 18, 2012 (LBO) – Sri Lanka’s HSBC Galle Literary festival kicks off Wednesday with award winning writers, historians and poets from Canada, England, Germany, India, Ireland, Palestine, Singapore, United States and Sri Lanka taking part. Organizers are expecting more visitors to the festival this year with a new expressway cutting down travel time to […]
Wiki Protest
Jan 18, 2012 (LBO) – Wikipedia will be blacked out from 5. 00 UTC (10.30 am Sri Lanka time) protesting two proposed laws in the US which it says will “would seriously damage the free and open Internet” if implemented. Reports said President Obama may veto both bills. “It is the opinion of the English […]
Sri Lanka urged to use Senegal duty free market access
Jan 18, 2012 (LBO) – Sri Lankan apparel exporters can use duty free trade deals and cheap labour in the West African state of Senegal to gain access to markets in North America, the Ministry of Industry and Commerce said. A statement quoted Amadou Moustapha, newly appointed Ambassador of Senegal to Sri Lanka, as saying […]
Sri Lanka shares slump despite more broker credit
Jan 17, 2012 (LBO) – Sri Lankan shares ended weaker Tuesday, failing to hold on to gains in a sharp rally at the opening, despite the regulator allowing brokers to lend more money to buy stocks, brokers said. The main All Share Price Index closed down 0.08 percent (4.73 points) at 5,924.61, while the more […]
Credit Trend
Jan 17, 2012 (LBO) – Sri Lanka’s credit to business from commercial banks rose to a new historic high of 63. 2 billion rupees in November helped by liquidity injections to offset foreign exchange interventions, official data showed. In the 12-months to November 2011, credit to business grew 33.5 percent to 1,945.7 billion rupees against […]