Category: Economy and Markets
Sri Lanka to establish a human heart valve bank
September 19, 2014 (LBO) – Sri Lanka cabinet has given approval to establish a Human Heart Valve bank at a cost of 30 million rupees to provide cardiac valves and tissues necessary for valve replacement and repair of some of the congenital and acquired heart diseases. The proposal was submitted to the cabinet by Maithripala […]
Sri Lanka stocks close up 0.4-pct
Sep 18, 2014 (LBO) – Sri Lanka’s stocks closed 0.39 percent higher with tobacco and beverage stocks gaining amid strong foreign participation, brokers said. First Capital Holdings closed 4.10 rupees higher at 42.80 rupees, attracting most number of trades during the day. Foreign investors bought 995.22 million rupees worth shares while selling 966.21 million rupees […]
’s New Economic Dynamism
September 18, 2014 (LBO) – Sri Lanka and China in talks to finalise a free-trade agreement which would bring substantial economic and trade benefits to the two countries, with both governments expressing hope that the deal will be implemented at an early date. China is the second largest economy in the world has reached a […]
Sri Lanka Treasuries edge lower
Sep 17, 2014 (LBO) – Sri Lanka’s Treasuries yields dropped across maturities at Wednesday’s auction with the 6-month yield falling 4 basis points to 6.23 percent, data from the state debt office showed. The 3-month yield fell 3 basis points to 6.15 percent and the 12-month yield also dropped 3 basis points to 6.26 percent. […]
Sri Lanka stocks close higher
Sep 17, 2014 (LBO) – Sri Lanka’s stocks closed higher Wednesday amid strong foreign buying, brokers said. Lion Brewery Ceylon closed 19.70 rupees higher at 635.00 rupees and Sri Lanka Telecom closed 80 cents higher at 53.90 rupees, contributing most to the index gain. Chevron Lubricants Lanka closed 10.00 rupees higher at 341.40 rupees and […]
Sri Lanka President reduces fuel and electricity prices
Sep 17, 2014 (LBO)-The Government of Sri Lanka reduced the prices of fuel and electricity tariff with effect from midnight yesterday, a media report said.President Mahinda Rajapaksa announced the reduction of prices at the inauguration of Unit II of the Norochcholai Power Plant, together with Chinese President Xi Jinping. Price of a liter of petrol […]
Sri Lanka stocks close higher
Sep 16, 2014 (LBO) – Sri Lanka’s stocks closed in the green Tuesday with the price gains of food, beverages and tobacco stocks, brokers said. The Colombo benchmark All Share Price Index closed 1.13 points higher at 7,176.10, up 0.02 percent. The S&P SL20 closed 2.34 points higher at 3,976.76, up 0.06 percent. Turnover was […]
Sri Lanka GDP grows 7.8-pct in 2014 second quarter: Census Dept
Sep 16, 2014 (LBO) – Sri Lanka’s gross domestic product was up 7.8 percent in the second quarter of 2014 compared to 7.6 percent in the same period last year, the state statistics office said. The total economic output in Sri Lanka, measured by the Gross Domestic Product for the second quarter 2014 (April, May, […]
LOLC Group acquires 60 pct stake in Cambodian Microfinance Company for USD 20.3 Mn
Sep 16, 2014 (LBO) –Sri Lanka’s Lanka Orix Leasing Company acquired a 60 percent stake in Thaneakea Phum Cambodia (TPC) a microfinance company in Cambodia, for 20.3 million US dollars, identifying the immense potential in emerging economies of the South East Asian region the company said in a media release. The LOLC Group’s business expansion […]
Sri Lanka stocks close down 0.61-pct
Sep 15, 2014 (LBO) – Sri Lanka’s bourse closed in red mainly due to counters Commercial Bank and Carson Cumberbatch, brokers said. Commercial Bank of Ceylon closed 5.30 rupees lower at 156.00 rupees and Carson Cumberbatch closed 15.10 rupees lower at 439.90 rupees, contributing most to the index drop. Sri Lanka Telecom closed 1.20 rupees […]
’s Unrealized Profits passes Rs10Bn mark
Sep 13, 2014 (LBO) – Sri Lanka’s Employee’s Provident Fund’s unrealized profits of the share portfolio passed 10 billion rupees on September this year, Central Bank said in a media release. Realized capital gains and dividends have amounted to 3.4 billion rupees to data this year. During the first half of 2014, there were allegations […]
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Sep 12, 2014 (LBO) – Sri Lanka’s Fitch Ratings has affirmed “BB†rating for the issue of US dollar dominated notes which is due 2019 of Sri Lanka-based National Savings Bank, the rating agency said in a media statement. NSB’s ratings are: Long-Term Foreign Currency IDR: ‘BB-‘; Outlook Stable Long-Term Local Currency IDR: ‘BB-‘; Outlook […]