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Sri Lankan stocks close down 0.32-pct
July 02, 2010 (LBO) – Sri Lankan stocks closed down Friday as profit- taking on selected high value shares pulled the market down, while retail investors continued to chase after ‘penny’ stocks, broker said. The All Share Price Index closed at 4,593.65, down 17.6 points, while the more liquid Milanka index fell 0.63 percent (38.4 […]
Sri Lanka budget on track in April
July 02, 2010 (LBO) – Sri Lanka’s budget deficit in the first four months of 2010, though high, is in line with the gap for the full-year estimates presented in parliament last week, official data show. In the first four months revenues rose 26. 6 percent to 240.7 billion rupees from a year earlier. But […]
Sri Lanka cocoa price hike may prompt imports
July 02, 2010 (LBO) – Sri Lankan cocoa prices have shot up owing to cop failure and heavy demand for cocoa beans might prompt the confectionary industry to resort to imports, a trade body said. The Spices & Allied Products Producers™ and Traders™ Association (SAPPTA) said the price for a kilo of grade one cocoa […]
Sri Lanka tea bag exports fall
July 02, 2010 (LBO) – Shipments of tea bags from Sri Lanka to Russia, the main market for tea, the island™s biggest export commodity, have fallen as high import duties on value added teas deter exports, latest data showed. The share of value added tea exports to the Russian market has been falling in recent […]
Sri Lanka mulls energy audit to save electricity
July 02, 2010 (LBO) – The Sri Lankan government is to have energy audits for all state organisations in an efforts to save electricity and minimise wastage, a senior official said. Kithsiri Dissanaike, chairman of the Sustainable Energy Authority, said an awareness campaign for school children as well as industries is also being done to […]
EU urges Sri Lanka to cooperate with UN war probe
BRUSSELS, July 1, 2010 (AFP) – The European Union urged Sri Lanka’s government on Thursday to cooperate with a UN panel probing alleged war crimes during the country’s civil war. “If the EU doesn’t want to give it, let them keep it. I don’t want it. We have gone and explained what we have done.” […]
Sri Lanka to appoint rating advisor: report
July 01, 2010 (LBO) – Sri Lanka will appoint an international investment bank as a ‘rating advisor’ next month ahead of a US dollar denominated sovereign bond to be sold later in the year, a media report said. Bloomberg newswires said the size of the bond issue has not yet been decided but earlier reports […]
Sri Lankan stocks close down 0.23-pct
July 01, 2010 (LBO) – Sri Lankan stocks closed down Thursday as investors took a wait-and-see approach on high value shares that in recent weeks had significantly moved up in price, while retail investors were seen chasing after ‘penny’ stocks, broker said. The All Share Price Index closed at 4,601. 63, down 0.23 percent (10.83 […]
Banking Move
July 01, 2010 (LBO) – Sri Lanka’s central bank is to open an office in northern Jaffna where it could help with loans and be a catalyst for the economic revival of the region after a war, a statement said. It will be the banking regulator’s fourth provincial office complementing others in the southern, north-central […]
House arrest for Maldivian opposition MPs as crisis drags
July 1, 2010 (AFP) – A Maldivian court has ordered the house arrest of two key opposition lawmakers amid a power struggle between the country’s president and parliament, an official said Thursday. The Criminal Court of Male told police on Wednesday night to keep the two men under house arrest for three days, but the […]