Category: Economy and Markets
‘s lower inflation, narrowing budget deficit to boost growth: ADB
Apr 01, 2014 (LBO) – Sri Lanka’s current relatively low inflation and a narrowing budget deficit will boost investment and growth helped by recovering exports and domestic demand, the Asian Development Bank said.Last year Sri Lanka gross domestic product was estimated to have grown by 7.3 percent in the middle of recovering from a balance […]
Sri Lanka stocks close flat
Mar 31, 2014 (LBO) – Sri Lanka’s stocks close flat Monday with thin foreign activity on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 3.86 points lower at 5,968.31 down 0.06 percent. The S&P SL20 closed 1.25 points higher at 3,279.92, up 0.04 percent. Turnover was 464.39 million rupees, down from […]
Sri Lanka inflation unchanged at 4.2-pct in March
Mar 31, 2014 (LBO) – Sri Lanka’s consumer prices rose 4.2 percent in the 12-months to March from a year earlier, with inflation unchanged from the 4.2 percent a month earlier, data from the state statistics office showed. Sri Lanka’s inflation has been muted amid weak credit growth following the end of a balance of […]
‘s NDB raises US$125mn with IFC backing
Mar 31, 2013 (LBO) – International Finance Corporation, a World Bank unit has helped syndicated a 125 million US dollar loan for Sri Lanka’s NDB Bank with a further 70 million US dollars to be provided by June 2014. HSBC was the ‘strategic advisor’ the syndication, the two firms said. About 75 percent of the […]
Sri Lanka stocks close down 0.3-pct
Mar 28, 2014 (LBO) – Sri Lanka’s stocks close 0.34 percent lower Friday with tobacco and insurance stocks losing ground amid strong foreign selling, brokers said. Piramal Glass Ceylon closed 10 cents lower at 3.40 rupees and George Steuart Finance closed 16.30 rupees lower at 49.80 rupees, attracting most number of trades during the day. […]
Sri Lanka EPF 2011 accounts to be tabled in parliament shortly: Central Bank
Mar 27, 2014 (LBO) – Audited 2011 accounts of Sri Lanka’s Employees’ Provident Fund a retirement fund of private citizens, would be presented to parliament shortly, the Central Bank, its manager said.Opposition legislator Harsha de Silva has repeatedly called for the accounts to be presented to parliament and has also said some of its stock […]
Sri Lanka stocks close up 0.7-pct
Mar 27, 2014 (LBO) – Sri Lanka’s stocks close 0.70 percent higher Thursday with diversified John Keells Holdings and Sri Lanka Telecom gaining, brokers said. The Colombo benchmark All Share Price Index closed 41.65 points higher at 5,992.62 up 0.70 percent. The S&P SL20 closed 13.10 points higher at 3,274.15, up 0.40 percent. Turnover was […]
Sri Lanka can improve environment to retain talent and boost skills: biz leaders
Mar 26, 2014 (LBO) – Sri Lanka could retain more highly skilled workers by boosting overall conditions and well as re-orienting its education system towards the needs of the market, senior business leaders said.He said people who had moved abroad would come back if conditions if education and health system quality was better. “But the […]
Sri Lanka stocks close flat
Mar 26, 2014 (LBO) – Sri Lanka’s stocks close flat Wednesday with some index heavy stocks losing ground, brokers said. Ceylon Tobacco Company closed 14.90 rupees lower at 1,083.00 rupees and Carson Cumberbatch closed 9.60 rupees lower at 360.00 rupees. Bukit Darah closed 24.80 rupees higher at 587.00 rupees and Nestle Lanka closed 19.20 rupees […]
Sri Lanka exports up in Jan 2014, trade gap down amid low credit growth
Mar 26, 2014 (LBO) – Sri Lanka’s exports surged 23.3 percent to 898.0 million US dollars in January 2014, and the trade gap narrowed 5.9 percent to 755.9 million US dollars amid low credit growth, official data showed. Industrial exports rose 23.6 percent to 691.6 million US dollars with apparel also up 23.4 percent to […]
Sri Lanka Treasuries yields steady
Mar 26, 2014 (LBO) – Sri Lanka’s Treasuries yield were steady at Wednesday’s auction with the 3-month yield falling 01 basis points to 6.65 percent, data from the state debt office showed. The debt office offered 10 billion rupees of maturing debt to the market and only accepted bids worth 8.2 billion rupees from the […]
Sri Lanka stocks close up 0.5-pct
Mar 25, 2014 (LBO) – Sri Lanka’s stocks close 0.52 percent higher with tobacco stocks reversing the losses despite a net foreign outflow, brokers said. NDB Capital Holdings closed 20.00 rupees higher at 530.00 rupees and Ceylinco Insurance closed 129.10 rupees lower at 1,370.70 rupees. Trans Asia Hotels closed 2.90 rupees higher at 80.70 rupees […]