Category:
Sri Lanka economy grows 8.4-pct in 3Q: statistics office
Dec 21, 2011 (LBO) – Sri Lanka’s economy grew 8. 4 percent in the third quarter of 2011 from a year earlier, slightly higher than the 8.2 percent reported in the second quarter, the state statistics office said. The economy grew 8.0 percent in the third quarter of last year. Sri Lanka’s Central Bank Governor […]
” 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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 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 money tight, stocks open weaker
Dec 19, 2011 (LBO) – Sri Lanka’s money markets were tight with overnight gilt backed cash trading around 7.75/8.00 percent and call money at 8. 75/9.00 percent and stocks opened weaker in thin liquidity, brokers and dealers said. But a 2015 July bond was quoted lower at 9.90/95 percent, in a slight anomaly, dealers said. […]
Sri Lanka stocks down 25-pct from peak
Dec 19, 2011 (LBO) – Sri Lanka stocks closed 0. 5 percent lower Monday down 25 percent from a peak earlier in the year with steep corrections in several illiquid stocks, brokers said. The Colombo All Share Index shed 31.7 points to close at 5,860.9, down 0.54 percent and the Milanka Index of more liquid […]
Healthy Funding
Dec 19, 2011 (LBO) – RAM Ratings Lanka has confirmed the long- and short-term financial institution ratings of People’s Bank at AAA and P1 with the long-term rating having a stable outlook. The ratings are premised on the bank’s position as the second-largest licensed commercial bank in Sri Lanka, its healthy funding, good asset quality, […]