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Sri Lanka stocks close down 0.6-pct
May 30, 2014 (LBO) – Sri Lanka’s stocks closed down 0.64 percent on Friday with diversified, food and tobacco stocks losing ground despite net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 40.31 points lower at 6,263.46 down 0.64 percent. The S&P SL20 closed 32.08 points lower at 3,454.61, down 0.92 […]
‘s Noorani Estates plans expansion, possible listing
May 30, 2014 (LBO) – Sri Lanka’s Noorani Estates (Pvt) Ltd, a poultry firm that operates under the brand Nelfarms is planning to invest over one billion rupees over three years to expand, with a possible stock exchange listing also on the cards, a top official said.“We are very bullish about the industry,” Noordeen Sethwala, […]
England skipper worried about keeper in Sri Lanka series
MANCHESTER, May 30, 2014 (AFP) – Alastair Cook’s focus may be on the ongoing one-day series with Sri Lanka but the fitness of wicketkeeper Matt Prior ahead of the Test matches with the tourists is a concern for the England captain.Established Test gloveman Prior was dropped from the side during the team’s 5-0 Ashes thrashing […]
‘s inflation at 3.2-pct in May 2014
May 30, 2014 (LBO) – Sri Lanka’s consumer prices rose 3.2 percent in the year to May 2014, slowing from 4.9 percent in April, though prices rose 0.6 percent during the month, data from the state statistics office showed. As credit is weak the exchange is facing appreciation pressure, but the Central Bank has kept […]
Sri Lanka economic outlook positive; should watch external shocks, drought: IMF
May 30, 2014 (LBO) – The outlook for Sri Lanka’s economy was positive with low inflation and stronger growth driven by exports, but the country should watch out for a slowdown in developed nations and a domestic drought, an International Monetary Fund official said.Todd Schneider, who headed mission for annual ‘Article IV’ consultations, said recent […]
Sri Lanka seeks JVs with foreign investors to cater to domestic market
May 30, 2014 (LBO) – Sri Lanka wants foreign investors to set up joint ventures where the output will be allowed to be sold to the domestic market, investment promotion minister Lakshman Abeywardena said, amid fears of new protectionism.When import duty protected industries expand, the state also loses tax revenues as taxes that would have […]
Sri Lanka stocks close up 0.5-pct
May 29, 2014 (LBO) – Sri Lanka’s stocks closed up 0.5 percent on Thursday with strong foreign participation amid eased foreign exchange controls, brokers said. Lion Brewery Ceylon closed 16.90 rupees higher at 449.00 rupees and Ceylon Tobacco Company closed flat at 1,065.00 rupees. Commercial Bank closed 3.60 rupees higher at 129.60 rupees and DFCC […]
‘s Sri Lanka rout
MANCHESTER, May 29, 2014 (AFP) – England bowling coach David Saker hailed Chris Jordan as the “ultimate professional” after the all-rounder spearheaded a stunning 10-wicket defeat of Sri Lanka in the third one-day international. Meanwhile Sri Lanka captain Angelo Mathews was left hoping his side could follow England’s example in bouncing back from a heavy […]
Cricket: Jordan strikes as England thrash Sri Lanka
MANCHESTER, May 28, 2014 (AFP) – Chris Jordan led England’s attack as they bowled out Sri Lanka for just 67 on the way to completing a crushing 10-wicket win in the third one-day international at Old Trafford on Wednesday.The Sussex paceman took a career-best five wickets for 29 runs as England, after fit-again captain Alastair […]
Foreign direct investment in to Sri Lanka doubles to US442mn in 1Q
May 29, 2014 (LBO) – Foreign direct investments into Sri Lanka doubled from a year earlier to 442 million US dollars in the first quarter of 2014, investment promotion minister Lakshman Abeywardena said.This year Sri Lanka is expecting 1.5 billion US dollars Minister Abeywardena said. He said 36 percent of the investments came into tourism, […]
Sri Lanka relaxes exchange controls, foreign investment in corporate debt
May 29, 2014 (LBO) – Sri Lanka has allowed foreign investors to buy debt securities of unlisted private companies also relaxed a series of exchange controls on letters of credit and education expenses. The liberalization will takes effect from May 28, the Central Banks said. The full statement from the Central Bank is reproduced below:- […]
Sri Lanka private consumption explains gap between GDP and reality: economist
May 29, 2014 (LBO) – Sri Lankan firms are experiencing a downturn, despite apparently high gross domestic product growth last year due to weak domestic consumption growth, an economist said.Amal Sanderatne, head of Frontier Research, an economics consultancy said their clients are asking why demand is weak when Sri Lanka registered the second highest economic […]