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Sri Lankan stocks hit by profit taking
June 09, 2009 (LBO) – Sri Lankan shares lost early gains and closed down on Tuesday as investors took profits on selected blue chips, brokers said. The Colombo All Share Price Index closed down 0.35 percent (15.47 points) to end at 2,185.00 while the Milanka index of liquid stocks gained 0.98 percent (24.07 points) to […]
Sri Lankan stocks close flat on profit taking
June 09, 2009 (LBO) – Sri Lankan shares lost early gains and closed down on Tuesday as investors took profits on selected blue chips, brokers said. “Retail participation was high today,” said Ganeshan. Conglomerate John Keells Holdings closed flat at 112.00 rupees. Diversified Hayleys gained 25 cents to close at 115.25, while privately held bank, […]
Sri Lanka May tourist arrivals slump
June 09, 2009 (LBO) – Tourist arrivals in to Sri Lanka slumped 20.6 percent in May 2009 to 24,739 from a year ago as a global travel slowdown and fierce fighting that ended the Tamil Tiger insurgency deterred visitors. According to figures put out by Sri Lanka’s tourism office, arrivals from south Asia, the main […]
Sri Lanka extends anti-terror laws despite defeat of Tigers
June 9, 2009 (AFP) – Sri Lanka’s government on Tuesday extended tough anti-terror laws, arguing that remnants of the defeated Tamil Tiger rebels could still try to stage a comeback.Prime Minister Ratnasiri Wickremanayake told parliament that the government wanted to extend the state of emergency by a month despite last month’s defeat of the Liberation […]
‘s Sangakkara eyes bigger wins after taming Aussies
NOTTINGHAM, June 9, 2009 (AFP) – Kumar Sangakkara celebrated his first stint as Sri Lanka’s captain by dumping mighty Australia from the World Twenty20, then warned rivals he was hungry for more scalps.“I can’t ask for more, but this is just the start. We want to continue in the same vein,” he said after the […]
Sri Lanka activist targets 40 privatizations
June 9, 2009 (LBO) – A left-oriented politician who has successfully returned a large insurer back into state hands through court action says there about 40 other privatizations that need to be re-examined. Sri Lanka’s Supreme Court, in reversing the deal said it was illegal as proper procedure had not been followed and the transaction […]
Sri Lanka central bank collects US$160mn since float
June 8, 2009 (LBO) – Sri Lanka’s central bank has bought 160.25 million US dollars from foreign exchange markets since a float of the currency in late March 2009, with 123.0 million collected in the month of May. As soon as the ‘quantity easing’ stops, the peg tightens. A float is necessary to break the […]
Sri Lankan shares up, rupee rock steady
June 08, 2009 (LBO) – Sri Lankan stocks gained Monday as investors regained their confidence after last week’s court order to reverse the 2003 privatization of Sri Lanka Insurance Corporation (SLIC) to the Distilleries Group, brokers said. The spot dollar remained unchanged at 114.90/95 levels in late afternoon trade, dealers said. The Colombo All Share […]
Box Trade
June 08, 2009 (LBO) – A container terminal in Colombo port in which Sri Lanka’s John Keells Holdings (JKH) group has a big stake said volumes have recovered after five consecutive months of falls.South Asia Gateway Terminals (SAGT), a key source of profit for JKH which has a 42.2 percent stake in the facility, handled […]
Tight Quarter
June 8, 2009 (LBO) – Sri Lanka’s Seylan Bank group said profits fell 99.8 percent to 135,279 rupees in the March 2009 quarter, non performing loans grew steeply and net-interest income fell as its balance sheet contracted. Group net assets were up 1.6 percent to 9,519 million rupees. Gross assets shrank 7.5 percent to 151.7 […]