Category: Economy and Markets
Sri Lanka encourages people in North to invest in CSE to raise capital for businesses
Dec 10, 2014 (LBO) – Sri Lanka’s Securities and Exchange Commission’s chief said that, stock market is an alternative financial tool to raise capital for business activities and therefore Northern Province should take advantage of it and derive the benefits of capital market investments. More than 250 participants including professionals, academics and the business community […]
Sri Lanka reduces fuel and gas prices
Dec 07, 2014 (LBO) – The Government of Sri Lanka reduced the prices of fuel and gas with effect from midnight Friday, a media report said. The price of a 12.5 kilogram domestic gas cylinder have been reduced by 250 rupees. Price of a liter of petrol and diesel have been reduced by seven rupees […]
’s economy is stable and moving towards reducing poverty: Governor
Dec 05, 2014 (LBO) – Sri Lanka’s economy is stable and moving towards reducing poverty in the Island, Central Bank Governor, Ajith Nivard Cabraal said. He said electricity, road development and better income is needed to achieve this target. In 2005, only 72 percent of the county’s population were given electricity and 28 percent haven’t […]
Sri Lanka stocks close down 0.6-pct
Dec 02, 2014 (LBO) – Sri Lanka’s stocks closed 0.62 percent lower with telco, beverages and oil palm stocks losing ground amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 45.10 points lower at 7,230.58, down 0.62 percent. The S&P SL20 closed 15.54 points lower at 4,025.13, down 0.38 percent. […]
Sri Lanka stocks close up 1.7-pct
Dec 01, 2014 (LBO) – Sri Lanka’s stocks closed higher with the price gains of index heavy John Keells Holdings and Commercial Bank amid net foreign buying, brokers said. Foreign investors bought 320.98 million rupees worth shares while selling 237.19 million rupees worth shares. Commercial Bank of Ceylon closed 6.30 rupees higher at 164.90 rupees […]
07 Sri Lanka banks and finance companies wrap up consolidation plans in November 2014: Central Bank
Dec 01, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track, completing 07 banks and finance and leasing companies’ (NBFIs) given approval for mergers and recapitalization during November 2014 and another 22 NBFIs and 4 banks are in progress for completion in due course, the Central Bank said. One-to-one meetings chaired by the […]
Sri Lanka gets foreign banks support: Central Bank
Dec 01, 2014 (LBO) – Sri Lanka’s Central Bank says that the foreign banks in Sri Lanka are expected to show greater participation in economic activities. Foreign banks in Sri Lanka are expected to demonstrate a greater participation in economic activities and to make significant contribution to the economy, Central bank said in a recent […]
Sri Lanka inflation declines in November 2014: Amid rise in food prices
Nov 29, 2014 (LBO) – Sri Lanka’s inflation, continued its decelerating trend observed since June 2013 and reached 1.5 percent in November 2014 compared to 1.6 percent in October on an annual average basis which is lowest since November 2009, the Central bank of Sri Lanka said in a media release. The data is based […]
Sri Lanka stocks close down 0.9-pct
Nov 27, 2014 (LBO) – Sri Lanka’s stocks closed 0.89 percent lower with telco and banking stocks losing ground despite net foreign buying, brokers said. Foreign investors bought 445.70 million rupees worth shares while selling 125.55 million rupees worth shares. Commercial Bank of Ceylon closed 7.40 rupees lower at 160.60 rupees and Sri Lanka Telecom […]
Sri Lanka to handover gold that recovered from LTTE banks to rightful owners
Nov 27, 2014 (LBO) – The gold that recovered from illegally operated banks by LTTE will be handed over to their rightful owners by the government of Sri Lanka as a gesture of goodwill, a media report said. The government has identified about 2379 owners after going through stringent identification and verification process the report […]
Sri Lanka stocks close down 0.8-pct
Nov 26, 2014 (LBO) – Sri Lanka’s stocks closed 0.82 percent lower with Index heavy John Keells Holdings and Nestle Lanka losing ground, brokers said. The Colombo benchmark All Share Price Index closed 59.64 points lower at 7,179.72, down 0.82 percent. The S&P SL20 closed 21.02 points lower at 4,024.70, down 0.52 percent. Turnover was […]
Sri Lanka Treasury bill yields frozen
Nov 26, 2014 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with the 12-month yield unchanged at 6.00 percent, data from the state debt office showed. The debt office which is part of the island’s central bank not offered 3-month short term bills for the auction. 6-month yield was also frozen […]