Author: lbostgadmin
Lending Trend
June 22, 2010 (LBO) – Loans to private borrowers from Sri Lanka’s commercial banks grew at a slower rate in April compared with March while foreign currency loans fell, latest Central Bank data shows. Credit to the private sector rose 7. 6 billion rupees to 1,242.7 billion rupees in April compared with March, when it […]
Hold Outs
June 22, 2010 (LBO) – A steep tax cut on vehicle imports in Sri Lanka has injected life into the almost comatose car trade, but some dealers are stubbornly holding onto high prices hoping that the lower tax regime will not last too long. They are appealing to the fear and greed of buyers. While […]
Sri Lankan stocks close 0.25-pct up
June 22, 2010 (LBO) – Sri Lankan stocks closed higher Tuesday as price gains on selected midcap and small value shares pushed the market up on low volume trading, while penny stocks continued to be heavily traded, brokers said. Commercial Bank closed at 194.50 rupees, up 25 cents, Hatton National Bank closed at 292.00m rupees, […]
Sri Lanka state non-tax revenues up in first quarter
June 21, 2010 (LBO) – Sri Lanka has seen steep increase in non-tax incomes in the first quarter of 2010 which accounted for more than half the revenue gains made by the state, official data shows. State revenues increased by 26.3 percent in the first quarter to 182. 7 billion rupees with tax revenues gaining […]
‘s Ban names war crimes panel
June 21, 2010 (AFP) – Sri Lanka is “deeply unhappy” at a move by UN chief Ban Ki-moon to name a panel to look into alleged war crimes committed during the final months of the island’s civil war, an official said Monday. Colombo repeated President Mahinda Rajapakse’s protest to Ban in March that the panel […]
‘s Reliance Broadcast signs TV deal with CBS for South Asia
NEW DELHI, June 20, 2010 (AFP) – India’s Reliance Broadcast Network, part of the Anil Dhirubhai Ambani group, has signed a deal with the US-based CBS network to launch TV channels across south Asia, the company said Sunday. The two companies will first launch English-language entertainment channels and at a later stage explore channels in […]
Sri Lanka trade talks mull market access for migrant labour
June 21, 2010 (LBO) – Opening up labour markets in developed countries for migrant workers from South Asian countries like Sri Lanka is of critical importance for the region at world trade talks, an economist said. Many South Asians are working abroad in construction, nursing and health care, and in personal care as domestic assistants. […]
Sri Lanka tea trade calls for limit on new factories
June 21, 2010 (LBO) – Sri Lanka’s tea trade has called for a stop to the setting up of new factories unless they are supported by cultivated tea lands to prevent ‘excess capacity’ and competition for green leaf. Avi de Silva, chairman of the Colombo Tea Traders’ Association, said they were concerned about the proliferation […]
Sri Lankan stocks close 1.11-pct up, foreign inflow
June 21, 2010 (LBO) – Sri Lankan stocks closed up Monday on the back of price gains on midcap and selected high value shares, while there was a foreign inflow of funds, brokers said. Nearly 17 million Dialog Telekom shares changed hands between 9.25 to 10.25 rupees, brokers said. Dialog Telekom, a unit of Axiata […]
Hong Kong gold closes at record high
HONG KONG, June 21, 2010 (AFP) – Gold closed at a record high above 1,264 dollars an ounce in Hong Kong on Monday as the greenback weakened against Asian currencies after China’s announcement of a more flexible yuan. The precious metal ended at 1,264.50 US dollars an ounce. The main catalyst for the rally was […]
Sri Lanka sells USD278mn in bonds
June 21, 2010 (LBO) – Sri Lanka has sold 278 million US dollars in two and three year bonds at prices over 380 basis points above the 6-month London Interbank Offered Rate, rolling over 275 million US dollars of maturing debt. The government’s debt office said it sold 102 million US dollars of 3-year bonds […]
” govt: report
June 20, 2010 (AFP) – A senior leader of Sri Lanka’s defeated Tamil Tiger rebels has agreed to help the government in its post-war reconstruction efforts, a state-run newspaper reported Sunday. The UN estimates that up to 100,000 people were killed in Sri Lanka’s ethnic conflict which began in the 1970s. The UN has also […]