Category:
Sri Lankan stocks close up 1.32-pct
Sept 08, 2010 (LBO) – Sri Lankan stocks rallied and passed the 5,900 points mark Wednesday, from price gains on index heavy John Keells Holdings (JKH), Hatton National Bank (HNB), Commercial Bank and Distilleries Company, brokers said. The All Share Price Index closed at 5,962.62, up 1.32 percent (77.63 points) while the more liquid Milanka […]
Rate Trends
Sept 08, 2010 (LBO) – Sri Lanka’s central bank does not see a need to cut rates next week, following two rates cuts over two months, a media report has suggested. In 2009 private credit shrank as the government ran a deficit of around 10 percent of gross domestic product. The government has promised to […]
Bangladesh exports soar as orders shift from China: industry
DHAKA, September 8, 2010 (AFP) – Bangladesh said Wednesday exports leapt more than 25 percent year on year in July, with manufacturers linking the jump to a shift in orders from China to the low-cost South Asian country. In July, the first month of its financial year, Bangladesh shipped 1.82 billion dollars of goods — […]
” says watchdog head
NEW DELHI, September 8, 2010 (AFP) – Almost one-third of Indians are “utterly corrupt” and half are “borderline”, the outgoing head of the country’s corruption watchdog has said, blaming increased wealth for much of the problem. Pratyush Sinha, who retired as India’s Central Vigilance Commissioner this week, said the worst part of his “thankless job” […]
” in South Asia
NEW DELHI, September 7, 2010 (AFP) – China is seeking to expand its influence in South Asia and gain a “foothold” in the region, Indian Prime Minister Manmohan Singh said in remarks published Tuesday. “China would like to have a foothold in South Asia and we have to reflect on this reality,” Singh was quoted […]
‘s Spice Jet from Oct
Sept 08, 2010 (LBO) – India’s Spice Jet, the country’s second largest budget carrier, will start flying to Sri Lanka daily from Chennai from October 09, after the airline received official nod to start international services. The airline is selling online a Colombo – Chennai ticket at 5,098 rupees and Chennai – Colombo ticket at […]
Air fares up as Asian travel rebounds from recession
SINGAPORE, September 8, 2010 (AFP) – Asia-Pacific airlines are raising ticket prices as travellers return in their droves after holding back on their travel plans last year because of the global recession. A strong economic rebound, led by China, has resulted in carriers filling more seats during the summer holidays and demand should remain robust […]
Sri Lanka Allianz unit profit down
Sept 08, 2010 (LBO) – Allianz Lanka, the local unit of Allianz SE, said net profit fell 23 percent to 44.8 million rupees in the July 2010 quarter from a year ago and that it was opening more branches. Its accounts showed net claims rose to 90 million rupees in the period from 56 million […]
Sri Lanka changes constitution, lifts term limits
Sept 08, 2010 (LBO) – Sri Lanka’s parliament has changed the constitution, lifting term limits for the president with 161 votes or 11 seats more than a two-thirds majority with several opposition lawmakers also crossing over. The constitution change which also nullifies an earlier change to improve rule of law with a more independent public […]
Sri Lanka president set to cement grip
September 7, 2010 (AFP) – Sri Lanka’s parliament will vote Wednesday on constitutional reforms enabling President Mahinda Rajapakse to seek a third term, in changes critics say point to the country’s slide into autocracy. Under the proposed amendments, the two-term limit will be scrapped, allowing the populist Rajapakse, who was resoundingly re-elected for the second […]
Sri Lanka Treasuries yields plunge
Sept 07, 2010 (LBO) – Sri Lanka’s one year Treasury bill yield plunged 45 basis points to 7. 42 percent and the 6-month yield fell 52 basis points to 7.28 percent at Wednesday’s auction, the government’s debt office said. There were no sales of 3-month bills. Dealers said the rates fell on expectations of a […]
Sri Lankan stocks close up 0.45-pct
Sept 07, 2010 (LBO) – Sri Lankan stocks recovered Tuesday, from high investor interest on hotel sector shares, while large private deals on John Keells Hotels and Aitken Spence boosted turnover to almost six billion rupees, brokers said. The All Share Price Index closed at 5,884.99, up 0.45 percent (26.45 points) while the more liquid […]