Category: Economy and Markets
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 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 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 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 […]
”: legislator
Mar 25, 2014 (LBO) – The lack of audited accounts since 2011 for Sri Lanka’s Employees Provident Fund since 2011 is a “national tragedy” which “trampling of the rights of people,” a legislator has charged. Harsha de Silva an opposition United National Party legislator has been pressing for the accounts for the fund, the country’s […]
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 […]
Sri Lanka stocks close down 0.2-pct
Mar 24, 2014 (LBO) – Sri Lanka’s stocks close 0.26 percent lower with tobacco stocks losing ground amid thin foreign involvement, brokers said. Central Finance Company closed 8.80 rupees lower at 180.20 rupees and Ceylinco Insurance closed 109.80 rupees higher at 1,499.80 rupees. DFCC Bank closed 3.70 rupees higher at 144.90 rupees and NDB closed […]
Sri Lanka private credit shrinks in January 2014
Mar 24, 2014 (LBO) – Sri Lanka’s commercial bank credit to business contracted 42.1 billion rupees in January 2014 to 1,369.7 billion rupees from a month earlier, while central bank credit to the state rose, official data show. The central bank said the contraction in January came from a reduction in gold-backed loans and repayments […]
Sri Lanka has to radically reform public service to combat corruption: legislator
Mar 24, 2014 (LBO) – Sri Lanka needs ‘broad based radical reform’ of the public service to combat corruption and end a process where competitive tendering for state projects has become an exception, a legislator said. Some analysts however say corruption cannot be tackled or rule of law upheld without re-building Sri Lanka’s broken public […]
‘s Ceylon Chamber marks 175 years
Mar 24, 2014 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it was seeking to build a society that thrives on merit and enterprise as it marks 175 years. In 1883 tea auctions had begun in Colombo and in 1898 the Chamber had provided space. The auctions are conducted by the Ceylon Chamber of […]
Sri Lanka stocks close up 0.4-pct
Mar 21, 2014 (LBO) – Sri Lanka’s stocks close 0.39 percent higher partly reversing previous losses with diversified and beverage stocks gaining amid thin foreign participation, brokers said. The Colombo benchmark All Share Price Index closed 23.31 points higher at 5,937.87 up 0.39 percent. The S&P SL20 closed 14.11 points higher at 3,246.02, up 0.44 […]
Sri Lanka policy rates steady; inflation, credit growth benign
Mar 21, 2014 (LBO) – Sri Lanka is holding a policy rate corridor at 6.5 to 8.0 percent, the Central Bank said amid benign credit growth and inflation.In 2011 a drought which reduced hydro power generated was accommodated by the banking credit which eventually saw the rupee falling to 130 from 100 to the US […]