Category: Economy and Markets
‘s interest: envoy
Apr 25, 2014 (LBO) – Economic sanctions on Sri Lanka are not in the interests of his country, and movers of a UN resolution are expecting progress which would make such questions redundant, UK’s envoy to Colombo said. “Sanctions are not currently an issue,” High Commissioner (ambassador) John Rankin told an LBR-LBO CEO forum on […]
Sri Lanka parliament approves tax breaks for Crown, JKH resorts
April 25, 2014 (LBO) – Sri Lanka’s parliament has approved tax breaks for integrated resorts by Australia’s Crown group and Colombo-based John Keells group.The projects have drawn opposition fire for having gaming facilities with tax breaks. Sri Lanka’s Bhuddist nationalist JHU voted against, the proposals, reports said. Government ministers have insisted that no approvals have […]
Sri Lanka stocks end down 0.2-pct
Apr 25, 2014 (LBO) – Sri Lanka’s stocks end 0.17 percent lower with tobacco and diversified stocks losing ground amid thin foreign activity, brokers said. The Colombo benchmark All Share Price Index closed 10.32 points lower at 6,167.81 down 0.17 percent. The S&P SL20 closed 6.59 points lower at 3,387.97, down 0.19 percent. Turnover was […]
Sri Lanka shares close up 0.1-pct
Apr 24, 2014 (LBO) – Sri Lanka’s shares end 0.09 percent higher with telco and diversified stocks gaining amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 5.36 points higher at 6,178.13 up 0.09 percent. The S&P SL20 closed 21.01 points higher at 3,394.56, up 0.62 percent. Turnover was 1.13 […]
New Zealand hikes interest rates again
WELLINGTON, April 24, 2014 (AFP) – New Zealand’s central bank lifted interest rates for the second time in as many months on Thursday, saying it was necessary to contain inflation as an economic recovery gains momentum.The Reserve Bank of New Zealand raised the official cash rate (OCR) 0.25 points to 3.0 percent in a well-flagged […]
Sri Lanka shares end down 0.3-pct
Apr 23, 2014 (LBO) – Sri Lanka’s shares end 0.31 percent lower with tobacco and diversified stocks losing ground, brokers said. Bukit Darah closed 30.50 rupees lower at 541.00 rupees and Ceylon Tobacco Company closed 13.00 rupees lower at 1,105.20 rupees, contributing most to the index drop. Lion Brewery Ceylon closed 9.90 rupees lower at […]
Sri Lanka Treasuries slightly down
Apr 23, 2014 (LBO) – Sri Lanka’s 3 and 12 month Treasuries edged lower at Wednesday’s auction, with the 6-month yield flat the state debt office said. The 3-month yield fell 03 basis points to 6.58 percent, the 6-month yield was flat at 6.79 percent and the 12-month yield fell 01 basis point to 7.02 […]
Sri Lanka gives tax breaks to US$220mn sugar refinery
Apr 23, 2014 (LBO) – Sri Lanka has given a 10 year tax holiday to a 220 million US dollar sugar refinery by the Hambantota port including tax free salaries for 50 expatriate staff. Lanka Sugar Refinery Company (Pvt) Ltd, will import raw sugar for refining to the local and foreign markets, a notice published […]
Sri Lanka gets natural disaster credit from World Bank
Apr 24, 2014 (LBO) – Sri Lanka has been given a 102 million US dollar credit line that can be drawn immediately after a natural disaster, as well as another 110 million dollars for measures to cut disaster risk, the World Bank said. The lender said Sri Lanka is the first county in South Asia […]
Sri Lanka stocks close higher
Apr 22, 2014 (LBO) – Sri Lanka’s stocks close 0.08 percent higher with index heavy stocks gaining amid net foreign buying, brokers said. Ceylon Tobacco Company closed 20.40 rupees higher at 1,118.20 rupees, contributing most to the index gain. Aitken Spence Hotel Holdings closed 2.40 rupees higher at 75.90 rupees and Asian Hotels and Properties […]
Sri Lanka rates unchanged; lower state borrowings to boost credit: Central Bank
Apr 22, 2014 (LBO) – Sri Lanka’s central bank held policy rates unchanged in April saying reduced central government and state enterprise borrowings has created conditions for private credit to pick up. Rice taxes have been relaxed ahead of the drought though prices are now up. Meanwhile traders have been slapped with price controls. Sri […]
Sri Lanka Italy businesses in forum with Harsha
Apr 22, 2014 (LBO) – Sri Lanka-Italy Business Council, of the Ceylon Chamber of Commerce said it is hosting a forum on ‘post war dividends’ where Harsha de Silva, an economist and legislator will speak. De Silva, who is the key economic spokesman at Sri Lanka’s United National Party, will speak on “The Road to […]