Author: lbostgadmin
Sri Lanka stocks close down 0.16-pct
Dec 21, 2011 (LBO) – Sri Lankan stocks slipped further Wednesday in a continuing slide in thin turnover with the regulator postponing an anticipated decision to allow brokers to give more credit for trading, brokers said. The main All Share Price Index fell 0.16 percent (9.11 points) to 5,842.83, while the more liquid Milanka index […]
Sri Lanka Treasuries yields head higher
Dec 21, 2011 (LBO) – Sri Lanka’s Treasuries yields edged higher amid rejections of market bids at Wednesday’s auction, data from the state debt office showed, as the Central Bank’s own portfolio of bills continued to go up. The 3-month Treasury bill yield increased 15 basis points to 8.58 percent and the 12-month yield increased […]
Sri Lanka overnight rates spike to new high
Dec 21, 2011 (LBO) – Sri Lanka’s overnight money rates spiked over 9. 75 percent and gilt backed repurchase deals touched 8.45 percent Wednesday amid defence of a dollar peg and festival demand for cash, dealers said. But in December there is also a seasonal demand of cash during the Christmas and New Year holiday […]
Sri Lanka should boost international relations for progress: Razeen Sally
Dec 20, 2011 (LBO) – Sri Lanka should strengthen relations with the West and India and expand economic freedoms to boost foreign direct investments and exports, an economist who is a specialist in international trade said. “There is every argument to diversify exports,” Sally said. “That should be done with utmost vigor. But it will […]
Sri Lanka to probe whale deaths, do acoustic monitoring
Dec 20, 2011 (LBO) – Sri Lanka is launching a probe on whale deaths which are suspected to be due to shipping, and also study the mammals by monitoring their calls underwater, the head of a research agency said. “Too many whales are dying around Sri Lanka,” Hiran Jayewardene chairman of Sri Lanka’s National Aquatic […]
Sri Lanka tea trade sees gains from Russia WTO entry
Dec 20, 2011 (LBO) – Russia’s entry in to the World Trade Organization last week will enable high import duty on value-added tea to be reduced, creating better access for Sri Lankan teas, industry officials said. “Russia is our largest market for tea and we would like to increase value-added teas being sent to Russia […]
Small Stature
Dec 20, 2011 (LBO) – RAM Ratings Lanka has confirmed the long- and short-term financial institution ratings of Sri Lanka’s Union Bank at BBB and P3 with the long-term rating having a stable outlook. Union Bank’s performance is deemed moderate, albeit with an improving trend since fiscal 2009. Supported by its robust loan growth that […]
Regulator Succession
Dec 20, 2011 (LBO) – Sri Lanka’s central bank has promoted four officers to the post of Assistant Governor with effect from January 01, 2012 in line with the succession plan of the banking regulator. The four officers are A Kamalasiri, R Dheerasinghe, S S Ratnayake and K D Ranasinghe, the bank said in a […]
Transport Training
Dec 20, 2011 (LBO) – A Sri Lankan training academy has tied up with an American logistics organisation to certify its courses to build a body of transport professionals amid a post-war port and airport building boom. Sri Lanka’s Shippers’ Academy Colombo (SAC) said it has struck a deal with the American Society of Transportation […]
Sri Lanka stocks close down 0.2-pct
Dec 20, 2011 (LBO) – Sri Lankan ended weaker Tuesday, unable to sustain an opening rally in thin turnover, with sharp losses in illiquid shares, brokers said. The main All Share Price Index fell 0.15 percent (9.02 points) to 5,851.94, while the more liquid Milanka index fell 0.34 percent (17.16 points) to close at 5,088.25. […]
” rating confirmed: Fitch
Dec 20, 2011 (LBO) – Fitch Ratings has confirmed an ‘A(lka)’ rating of Singer (Sri Lanka) Plc, with a stable outlook based on it being one of the largest consumer durable retailers and a pickup in business. Fitch said a cut in taxes had reduced grey-market activities in consumer durables and lower inflation and interest […]
Lessons
Dec 19, 2011 (LBO) – Sri Lanka has to re-build an independent public service and restore rule of law to give freedom to citizens, a commission of inquiry on lessons learnt and reconciliation following the end of a 30-year civil war has said. “A democracy must assure a fair system of governance under the Rule […]