Category: Economy and Markets
Sri Lanka technical education, female participation to be boosted: ADB
Apr 02, 2014 (LBO) – The Asian Development Bank said it is giving a 100 million dollars loan to Sri Lanka to boost technical education and female participation in technology related courses.“This program will help reduce the significant mismatch that exists between the competencies of graduates and labor market demand, which has left youth unemployment […]
Sri Lanka stocks close flat
Apr 02, 2014 (LBO) – Sri Lanka’s stocks close flat Wednesday with strong foreign buying on the board, brokers said. JKH’s W0022 warrants closed 50 cents lower at 69.00 rupees and its W0023 warrants closed 20 cents lower at 72.80 rupees. Sri Lanka Telecom closed 80 cents higher at 46.20 rupees. Ceylon Tea Services closed […]
‘s Guangdong province visit Sri Lanka
Apr 02, 2014 (LBO) – A high powered delegation from China’s Guangdong provincial government had visited Sri Lanka and had expressed interest in fish processing, the state investment promotion office said. A Chinese firm is to reclaim the sea near Colombo port to build a new business district and many firms from the country are […]
”: Fitch
Apr 01, 2014 (LBO) – Sri Lanka’s Hemas Holdings will sell up to 1.0 billion rupees in senior debt which has been given a expected ‘A+(lka)’ investment grade rating, Fitch Ratings said. Low leverage and Moderate Liquidity: Fitch expects that the group is likely to maintain financial leverage (measured as gross adjusted debt / Operating […]
‘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 up 0.5-pct
Apr 01, 2014 (LBO) – Sri Lanka’s stocks close up crossing the 6,000 mark Tuesday with diversified and tobacco stocks gaining amid net foreign buying on the board, brokers said. The Colombo benchmark All Share Price Index closed 33.52 points higher at 6,001.83 up 0.56 percent. The S&P SL20 closed 19.98 points higher at 3,299.90, […]
‘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 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 […]
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 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 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 […]