Category: Economy and Markets
Sri Lanka RDA engineers write to PM over DG demotion
Sept 28, 2015 (LBO) – Sri Lanka’s Road Development Authority Engineers’ Association (RDAEA) has written to the Prime Minister regarding the demotion of the Director General of the RDA as they have not yet received a response from the President’s office, a union official said. “We have written to the President, and we had a […]
Central bank holds rates unchanged; private sector credit up 21 pct
Sept 25, 2015 (LBO) – Sri Lanka’s central bank held key interest rates unchanged on Monday despite credit to the private sector rising 21 percent due to low interest rates amid a further drop in foreign reserves. The Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank were […]
Foreign holding in govt securities falls by USD68 mn in last week
Sept 25, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors fell to 333.2 billion rupees in the week to September 23, from 342.8 billion rupees in the previous week, information from the central bank showed. This reflects an outflow of 9.6 billion rupees (68 million dollars) for the week, and […]
Sri Lanka stocks edge lower, turnover picks up
Sep 25, 2015 (LBO) – Sri Lankan stocks closed lower 0.06 percent on Friday with investors concerned over domestic economic conditions, brokers said. The Colombo benchmark All Share Price Index closed down 4.03 points at 7,110.80 lower 0.06 percent. S&P SL20 closed 2.30 points lower at 3,889.52 down 0.06 percent. Turnover was 1.2 billion rupees, […]
Sri Lanka to construct houses for families affected by the conflict
Sep 24, 2015 (LBO) – Sri Lanka plans to call for proposals from interested local and foreign parties to build houses for families affected by conflict, the government’s media spokesman, Rajitha Senaratne, said.He said the Ministry of Rehabilitation, Resettlement and Hindu Affairs is mandated with the responsibility of resettlement of families and construction of houses […]
Sri Lanka stocks close down 0.05-pct
Sep 23, 2015 (LBO) – Sri Lankan stocks closed down 0.05 percent on Wednesday with losses in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 3.55 points at 7,114.83 lower 0.05 percent. S&P SL20 closed 11.48 points higher at 3,884.22 down 0.29 percent. Turnover was 747.5 million rupees, […]
Sri Lanka JKH’s Cinnamon Life has 40 pct of residential tower prebooked: Official
Sep 23, 2015 (LBO) – Sri Lanka’s blue-chip John Keells Holdings said that its 850 million US dollar mixed development project “Cinnamon Life” has already started selling apartments in its integrated resort under the concept of live, work and play. “We call it a city-within-a-city which will have office space, shopping, dining, entertainment, playing area, apartment and […]
Asian stocks hit by falling commodity prices in US
Sep 23, 2015 (LBO) – Asian stocks hit a negative in early Wednesday trade following a major U.S. averages crashed more than 1 percent overnight, foreign media reports showed. Commodity prices hit two-week lows on Tuesday, with U.S. crude oil down to 45.83 US dollars a barrel. Chinese shares dipped ahead of the key factory activity data […]
Germany to help revive GSP+ for Sri Lanka: Visiting Foreign Minister
Sep 23, 2015 (LBO) – Germany would lead the European Union to revive the GSP+ relief for Sri Lanka, the German Foreign Minister said in a statement. “I will take action in that regard, in coordination with the Foreign Ministry of Sri Lanka,” Frank Steinmeier, foreign minister of Germany said when he called on President […]
Germany can utilize Sri Lanka’s skilled labour force: Foreign Minister
Sep 22, 2015 (LBO) – Sri Lanka’s Foreign Minister said more German companies should invest in Sri Lanka and take advantage of the islands skilled labour force and regional ties, during the visit of his German counterpart. “Now that Volkswagen is in, other German companies are taking an interest in Sri Lanka,” Mangala Samaraweera, Minister […]
Sri Lanka Treasury bill yields mixed
Sep 22, 2015 (LBO) – Sri Lanka’s 12-month Treasury bill yields were up at Tuesday’s auction while the 3-month yields were down, data from the state debt office showed. The 3-month yields were down by one basis point to 6.78 percent, and the 12-month yields rose one basis point to 7.18 percent. The 6-month yields […]
Sri Lanka stocks close up 0.2-pct on three week high: Poultry gains
Sep 22, 2015 (LBO) – Sri Lankan stocks closed up 0.20 percent on Tuesday with gains in John Keels Holdings and poultry stocks, brokers said. The Colombo benchmark All Share Price Index closed up 14.01 points at 7,118.38 higher 0.20 percent. S&P SL20 closed 17.98 points higher at 3,899.02 up 0.46 percent. Turnover was […]