Category: Economy and Markets
‘s new government needs to have clarity in economic policy: Fitch
Aug 19, 2015 (LBO) – Sri Lanka’s newly elected govenment should pay close attenttion to greater clarity on economic policy as the change in January had only concentraded on good governance and other reforms, Fitch Rating said. “Improved economic policy credibility and coherence would strengthen Sri Lanka’s resilience to growing investor uncertainty towards emerging Asia,” […]
Sri Lanka stocks close higher after parliamentary polls
Aug 18, 2015 (LBO) – Sri Lankan stocks closed up 0.09 percent on Tuesday a day after parliamentary elections in the island positioned the United National Party to usurp its rivals. The Colombo benchmark All Share Price Index closed 6.66 points higher at 7,498.70 points. The S&P SL20 closed 4.10 points lower at 4,162.32, down […]
Sri Lanka stocks close up 0.4 –pct; investors optimistic
Aug 17, 2015 (LBO) – Sri Lanka’s stocks closed up 0.40 percent on Monday, with investors enthusiastic about a more stable political situation in the Island with key parliamentary election in progress, brokers said. The Colombo benchmark All Share Price Index closed 29.79 points higher at 7,492.04 up 0.40 percent. The S&P SL20 closed 17.64 […]
Dialog and Asiri form JV for e-healthcare
Aug 15, 2015 (LBO) – Sri Lanka’s Dialog Axiata PLC, which has interest in mobile, fixed telecom and pay television, said it will incorporate a joint venture company with Asiri Hospital Holdings PLC to develop infrastructure for the Sri Lankan healthcare sector.Digital Holdings Lanka, a wholly owned subsidiary of Dialog Axiata, and Asiri Hospitals have […]
Sri Lanka stocks close up 0.3 -pct: CSE trading will stop at mid day on 17 Aug
Aug 14, 2015 (LBO) – Sri Lanka’s stocks closed up 0.26 percent on Friday, with gains in the financial sector stocks ahead of the key Aug. 17 parliamentary election, brokers said. The Colombo benchmark All Share Price Index closed 19.59 points higher at 7,462.34 up 0.26 percent. The S&P SL20 closed 20.68 points higher at […]
Sri Lanka plans asbestos roofing import ban by 2018: President
Aug 14, 2015 (LBO) – Sri Lanka’s President says the government may ban importing of asbestos roofing by 2017-2018, as it generates health issues to the users. World Health Organization has said that all types of asbestos cause lung cancer, mesothelioma, cancer of the larynx and ovary, and asbestosis (fibrosis of the lungs).“I wanted to […]
Volkswagen assembly plant to get 8 year tax holiday for USD26.5mn investment
Aug 14, 2015 (LBO) – Sri Lanka’s Board of Investment said the Volkswagen assembly plant, which initially plans to make cars for the local market, will get an eight year tax holiday for an investment of 26.5 million US dollars. The agreement between BOI and sole agent of Volkswagen agent of the Island Senok Automobile […]
Sri Lanka sells USD172 million floating rate bonds
Aug 13, 2015 (LBO) – Sri Lanka has sold 172.3 million dollars of floating rate bonds with tenors of 1 year 7 months and 2 year 5 months, the state debt office said in a statement. The debt office sold 78.10 million US dollars of 1 year 7 month bonds at 349.47 basis points above […]
Sri Lanka stocks close down 0.4 -pct: Profit taking
Aug 13, 2015 (LBO) – Sri Lanka’s stocks closed down 0.39 percent on Thursday, with losses in some index heavy and Telecom stocks and investors taking profit, brokers said. The Colombo benchmark All Share Price Index closed 29.15 points lower at 7,442.75 down 0.39 percent. The S&P SL20 closed 24.51 points lower at 4,128.24 down […]
Sri Lanka’s Tea exporters are to be blamed for tea export reduction: Dilmah Chief
Aug 13, 2015 (LBO) – Sri Lanka’s Tea exporter, Dilmah says tea exporters who create various brand names at very cheap price levels in the global market are to be blamed on the lesser demand for “Ceylon Tea”.However, the importance of Russia and other CIS countries to Ceylon tea continues, though on reduced volumes of […]
Asian stocks rise, Yuan lower for third consecutive day
Aug 13, 2015 (LBO) – Asian shares extended early gains on Thursday following a recovery on Wall Street and efforts by China’s central bank to slow the sharp descent of the yuan, foreign media reports said. The Shanghai Composite rose by 0.8 percent to 3,916.68 points in early trading, Thursday on hopes the lower yuan […]
Sirimavo’s policies to develop local industry should have been continued: President
Aug 13, 2015 (LBO) – Sri Lanka’s economy would have developed if the country continued the policy of former Prime Minister Sirimavo Bandaranayake to develop local industries rather than import, the President said.“If you take the island’s political era from 1956-65 and 70-71, priority was given to the local industrial economy,” President Maithripala Sirisena told […]