Category: Economy and Markets
Sri Lanka stocks close up 0.4-pct
May 02, 2014 (LBO) – Sri Lanka’s stocks close 0.40 percent higher Friday with tobacco and diversified stocks gaining amid strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 24.77 points higher at 6,248.44 up 0.40 percent. The S&P SL20 closed 17.62 points higher at 3,435.81, up 0.52 percent. Turnover was […]
RAM Ratings (Lanka) renamed Lanka Rating Agency
May 02, 2014 (LBO) – RAM Ratings (Lanka) Ltd, said its name has been changed to Lanka Rating Agency Ltd, following the exit of its Malaysian shareholder RAM Holdings LRA said it was also gaining technical assistance from a global rating agency. The agency there were no changes to the currently adopted standards and no […]
Shrugging off Q1 stall, Fed keeps tapering stimulus
WASHINGTON, April 30, 2014 (AFP) – The US economy nearly froze in the glacial first quarter but emerging signs of vigor kept the Federal Reserve on its stimulus taper track Wednesday. The GDP data came as the World Bank reported Wednesday that China’s rapidly expanding economy could leapfrog the United States this year to become […]
Sri Lanka shares close up 0.6-pct
Apr 30, 2014 (LBO) – Sri Lanka’s shares end 0.60 percent higher Wednesday with tobacco and beverages stocks gaining amid strong foreign participation, brokers said. Foreign investors bought 323.09 million rupees worth shares while selling 378.09 million rupees worth shares. Ceylon Tobacco Company closed 33.90 rupees higher at 1,099.20 rupees and Lion Brewery Ceylon closed […]
‘s inflation accelerates to 4.9-pct in April
Apr 30, 3014 (LBO) – Sri Lanka’s consumer prices rose 4.9 percent in the 12-months to April 2014, accelerating from 4.2 percent in March, data from the state statistics office showed.Sri Lanka’s inflation was relatively low during the past year with credit growth being weak. Prices rose 0.3 percent during April, with the increase coming […]
Sri Lanka stocks close up 0.2-pct
Apr 29, 2014 (LBO) – Sri Lanka’s stocks close up 0.23 percent Tuesday with diversified John Keells Holdings gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 14.31 points higher at 6,186.25 up 0.23 percent. The S&P SL20 closed 10.98 points higher at 3,405.32, up 0.32 percent. Turnover was […]
Sri Lanka fixed income fund earns 15.49-pct
Apr 29, 2014 (LBO) – Sri Lanka’s First Capital Asset Management (FCAM) said its fixed income fund returned 15.49 percent net of tax in 2013. The fund invests in Treasuries and corporate debt.The First Capital Wealth Fund, said had 849,223 units. Unit of the First Capital Wealth Fund, had a managers buying price of about […]
Sri Lanka Treasuries yields steady
Apr 29, 2014 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with 12-month yield unchanged at 7.02 percent, date from the state debt office showed.The debt office sold 3.9 billion rupees of 6-month bills, 7.4 billion rupees of 12 month bills totaling 11.3 billion rupees after offering 15.0 billion rupees of maturing […]
Sri Lanka firms could gain from cloud computing: SAP
Apr 28, 2014 (LBO) – Companies in Sri Lanka, especially smaller ones, could avoid capital expenditure by using cloud computing to run anything from accounting to procurement and analyze social media, SAP, an information technology firm said. A company could separately purchase services such as accounting, human resources, marketing and sales and procurement, as needed, […]
‘s EPF, ETF: report
Apr 28, 2014 (LBO) – Sri Lanka is making fresh attempts to prevent private sector workers from withdrawing their retirement contributions once they reach 55 years of age, a media report said.The Sunday Times newspaper quoting an un-named official source said the Finance Ministry is drafting legislation to change the governing acts of the Employee’s […]
” rating confirmed, foreign debt, deficits high: Fitch
Apr 28, 2014 (LBO) – Fitch Ratings has confirmed a ‘BB-‘ rating on Sri Lanka with a stable outlook on strong economic growth but said state debt was over twice that of similar rated countries and foreign debt three times as much. “The 2014 budget signals commitment to medium-term debt reduction to maintain a gradual […]
Sri Lanka stocks end higher
Apr 28, 2014 (LBO) – Sri Lanka’s stocks end 0.07 percent higher amid net foreign buying on the board, brokers said. DFCC Bank closed 1.60 rupees higher at 159.30 rupees and NDB Capital Holdings closed 75.80 rupees lower at 461.20 rupees. Ceylon Tobacco Company closed 50 cents lower at 1,065.00 rupees and John Keells Holdings […]