Category: Economy and Markets
Sri Lanka inflation at 2.8-pct in June: Statistics office
June 30, 2014 (LBO) – Sri Lanka consumer prices rose 2.8 percent in the 12-months to June 2014 from a year earlier, slowing from 3.2 percent in May, the state statistics office said. Prices during the month rose sharply by 1.1 percent, the highest monthly gain in the Colombo Consumer Price Index seen since June […]
Sri Lanka inflation to be 2.8-pct in June 2014: Treasury Secretary
June 29, 2014 (LBO) – Sri Lanka’s inflation would be 2.8 percent in June and the country now had strong economic growth and a stable exchange rate, Treasury Secretary P B Jayasundera said.Sri Lanka is recovering from a balance of payments crisis triggered in 2011 after the state manipulated energy prices with bank loans which […]
Freight Charge
June 28, 2014 (LBO) – A Sri Lanka government regulation against a controversial fee charged from shippers who had not contracted for freight in Asian and African countries was being studied by other affected countries, an official said.Sri Lanka Shippers’ Council, representing the country’s exporters and importers had long protested a so-called terminal handling fee […]
Sri Lanka shares close up 0.6-pct
June 27, 2014 (LBO) – Sri Lanka’s shares closed 0.56 percent higher for the forth consecutive day with tobacco stocks gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 35.33 points higher at 6,363.49, up 0.56 percent. The S&P SL20 closed 13.31 points higher at 3,520.85, up 0.38 percent. […]
Sri Lanka shares close up 0.1-pct
June 26, 2014 (LBO) – Sri Lanka’s shares closed 0.10 percent higher for the third consecutive day with banking stocks gaining amid thin foreign participation, brokers said. The Colombo benchmark All Share Price Index closed 6.61 points higher at 6,328.16, up 0.10 percent. The S&P SL20 closed 5.99 points higher at 3,507.54, up 0.17 percent. […]
‘s Nippon Paint in DIY strategy to kindle demand
June 26, 2014 (LBO) – Sri Lanka’s Nippon Paint Lanka is pushing into the do-it-yourself market as weak spending power coupled with higher labour costs has led to a slump in demand, officials said. “As an industry we are not doing very well. This is not common to us but even the other companies face […]
Sri Lanka Treasuries edge lower
June 25, 2014 (LBO) – Sri Lanka’s Treasuries yield eased lower across maturities at Wednesday’s auction, data from the state debt office said. The debt office said 1.00 billion rupees in 3-month bills, 1.00 billion in 6-month bills and 20.00 billion in one year bills totaling 22.00 billion rupees were sold after offering 12.00 billion […]
Sri Lanka shares close up 0.2-pct
June 25, 2014 (LBO) – Sri Lanka’s shares closed 0.17 percent higher with index heavy John Keells Holdings contributing most to the index gain for the second straight session amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 10.68 points higher at 6,321.55, up 0.17 percent. The S&P SL20 closed […]
Sri Lanka macro-prudential indicator may be upgraded: Fitch official
June 25, 2014 (LBO) – A Macro Prudential Indicator for Sri Lanka which was downgraded to ‘3’, may be lifted in the future as risks recede, amid slower credit growth, a top Fitch Ratings official said.Mark Young head of Asia Pacific Financial Institutions at Fitch Ratings said with weaker credit growth there was room for […]
Sri Lanka shares close up 0.2-pct
June 24, 2014 (LBO) – Sri Lanka’s shares closed 0.18 percent higher with index heavy John Keells Holdings gaining amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 11.52 points higher at 6,310.87, up 0.18 percent. The S&P SL20 closed 21.19 points higher at 3,496.12, up 0.61 percent. Turnover was […]
Sri Lanka shares close lower
June 23, 2014 (LBO) – Sri Lanka’s shares closed 0.05 percent lower for the forth straight day amid strong foreign selling, brokers said. Sri Lanka Telecom closed 1.30 rupees higher at 47.90 rupees and Dialog Axiata closed flat at 10.40 rupees. Cargills Ceylon closed 6.20 rupees higher at 152.50 rupees and Ceylon Tobacco Company closed […]
Sri Lanka sells US$239.4mn 3-year bonds
June 23, 2014 (LBO) – Sri Lanka has sold 239.5 million US dollars in 3-year bonds to at price of 375 basis points above the 6-monmth London interbank offered rate, the state debt office said. The bonds are sold to domestic banks and investors who are allowed have dollar assets. The market was offered 50 […]