Category: Economy and Markets
Lanka Rating agency in ties up with CRISIL India
July 28, 2014 (LBO) – Sri Lanka’s Lanka Rating Agency, formerly RAM Ratings Lanka.said it had entered struck deal get technical assistance and training from India’s CRISIL. The majority shareholder of CRISIL is Standard and Poor’s.Lanka Ratings Agency Chairman Preethi Jayawardena said CRISIL had provided technical assistance to other rating agencies including RAM in Malaysia […]
Sri Lanka shares close higher
July 25, 2014 (LBO) – Sri Lanka’s shares closed 0.03 percent higher Friday amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 2.24 points higher at 6,783.64, up 0.03 percent. The S&P SL20 closed 2.30 points lower at 3,764.90, down 0.06 percent. Turnover was 1.23 billion rupees, up from 950.21 […]
IMF cuts 2014 global growth forecast, sees rising risks
WASHINGTON, July 24, 2014 (AFP) – The International Monetary Fund warned Thursday that geopolitical risks in Ukraine and the Middle East are looming over a global economy already hit by slowdowns in the US and China. “In major advanced economies, there is a risk of stagnation in the medium term,” the IMF warned, recommending that […]
Sri Lanka shares close lower
July 24, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent lower on Thursday with index heavy stocks losing ground, brokers said. Carson Cumberbatch closed 9.60 rupees lower at 480.00 rupees and Good Hope closed 440.00 rupees lower at 1,500.00 rupees, contributing most to the index drop. Sri Lanka Telecom closed 80 cents lower at […]
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July 23, 2014 (LBO) – Sri Lanka has a strong record in debt repayment, but interest costs and debt levels are high compared to revenues and private external commercial borrowings are adding to state borrowings, a report by Moody’s a rating agency said. Some analysts have said that Sri Lanka’s key problem is a large […]
Cricket: Steyn strikes early in second Sri Lanka Test
COLOMBO, July 24, 2014 (AFP) – Dale Steyn took two wickets in two balls to give South Africa a flying start in the series-deciding second and final Test against Sri Lanka in Colombo on Thursday.Steyn, the star of South Africa’s big win in the first Test at Galle, sent back opener Upul Tharanga and big-hitter […]
Sri Lanka, India in mutual forex reserve investment pact
July 24, 2014 (LBO) – Central Bank of Sri Lanka and the Reserve Bank of India has inked a deal to buy up to 500 million dollars worth of securities in each other’s governments, in a bid to diversify reserve assets.July 24, 2014 (LBO) – Central Bank of Sri Lanka and the Reserve Bank of […]
‘s Ceylon Cold Stores net up 87-pct in June quarter
July 23, 2014 (LBO) – Profits at Sri Lanka’s Ceylon Cold Stores, which has interests in consumer goods and retailing, surged 87 percent to 299.3 million rupees in the June 2014 quarter from a year earlier as revenues rose 18 percent. Sri Lanka is recovering from a balance of payments crisis where consumer spending power […]
Sri Lanka shares close down 0.2-pct
July 23, 2014 (LBO) – Sri Lanka’s shares closed 0.18 percent lower with index heavy John Keells Holdings losing ground despite net foreign buying, brokers said. Foreign investors bought 303.72 million rupees worth shares while selling 60.94 million rupees worth shares. John Keells Holdings closed 4.60 rupees lower at 239.90 rupees, contributing most to the […]
Sri Lanka stocks close up 0.6-pct
July 22, 2014 (LBO) – Sri Lanka’s stocks closed 0.59 percent higher with diversified stocks gaining amid net foreign buying, brokers said. Carson Cumberbatch closed 22.00 rupees higher at 490.00 rupees, contributing most to the index gain. Sri Lanka Telecom closed 1.10 rupees higher at 56.40 rupees and Ceylinco Insurance closed 80.00 rupees higher at […]
Sri Lanka stocks close up 0.5-pct
July 21, 2014 (LBO) – Sri Lanka’s stocks closed 0.51 percent higher with diversified stocks gaining despite net foreign selling, brokers said. Carson Cumberbatch closed 10.00 rupees higher at 468.00 rupees and John Keells Holdings closed 1.70 rupees higher at 246.70 rupees. JKH’s W0022 warrants closed 2.90 rupees higher at 66.90 rupees and its W0023 […]
Sri Lanka bank credit subdued in May: data
July 21, 2014 (LBO) – Sri Lanka’s loans to private business from commercial banks slipped 7.9 billion rupees in May 2014 from a year earlier while credit to the state and state enterprises also contracted, official data shows.Private credit has contracted in four out of five months this year and is down 60 billion rupees […]