Category: Economy and Markets
Sri Lanka shares close flat
Mar 20, 2014 (LBO) – Sri Lanka’s shares close slightly higher amid thin price increases in the index heavy stocks, brokers said. Ceylon Cold Stores closed 5.70 rupees lower at 141.00 rupees and Nestle Lanka closed 2.90 rupees higher at 1,953.10 rupees. Ceylon Tobacco Company closed 10 cents lower at 1,099.90 rupees and John Keells […]
Fed Chair Yellen keeps printing money at a lower rate
WASHINGTON, March 19, 2014 (AFP) – New Federal Reserve chief Janet Yellen kept the central bank firmly on the path set by predecessor Ben Bernanke Wednesday, shrugging off recent economic weakness as largely weather-caused. The Fed slightly cut its forecast for economic growth, trimming the high end of the ranges by 0.2 percentage point to […]
Sri Lanka releases details on foreign reserves, gold holdings
Mar 20, 2014 (LBO) – Sri Lanka has released a breakdown of foreign assets and gold holdings in official forex reserves for November 2013 as well as liabilities involving swaps and other payments.Foreign currency liabilities involving forex swaps and official loans due for repayment were also given on the liabilities side. For the next year […]
”’ by RAM
Mar 20, 2014 (LBO) – Sri Lanka’s Softlogic Retail (Pvt) Ltd, a consumer durables and apparel retailer has been given a ‘BBB-‘ domestic rating by RAM Ratings Lanka. ” The ratings are upheld by the Company’s strong competitive position backed by its diversified target markets and a retail branding strategy which caters to the various […]
Sri Lanka shares end slightly higher
Mar 19, 2014 (LBO) – Sri Lanka’s shares end 0.07 percent higher with banking and beverages stocks gaining amid strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 4.41 points higher at 5,912.05 up 0.07 percent. The S&P SL20 closed 10.58 points higher at 3,225.22, up 0.33 percent. Turnover was 640.97 […]
Sri Lanka Treasuries edge lower
Mar 19, 2014 (LBO) – Sri Lanka’s Treasuries yield edged lower at Wednesday’s auction with the 3-month yield down 03 basis points to 6.66 percent, data from the state debt office showed. The 6-month yield fell 02 basis points to 6.83 percent and the 12-month yield fell 01 basis point to 7.05 basis points. The […]
Sri Lanka lubricant market stagnant in 2013: Chevron
Mar 18, 2014 (LBO) – Sri Lanka’s lubricant market is estimated to have stagnated or contracted further in 2013, on top of a decline in 2012, Chevron’s unit in the island said while cautioning against state attempts to expand trade freedoms of the people. Anti-Competitive The firm spoke out against state moves to relax a […]
Sri Lanka shares end weaker
Mar 18, 2014 (LBO) – Sri Lanka’s shares end 0.11 percent lower with food and beverages firm Nestle losing ground amid net foreign selling on the board, brokers said. Carson Cumberbatch closed 5.00 rupees lower at 345.00 rupees and Bukit Darah closed 3.90 rupees higher at 555.00 rupees. Ceylon Tobacco Company closed flat at 1,120.00 […]
Argentina downgraded amid money printing, currency depreciation, inflation
WASHINGTON, March 17, 2014 (AFP) – Moody’s lowered its credit rating for Argentina by one step Monday, citing a sharp fall in the country’s reserves and inconsistent economic policies.The fresh blow to the country came as Buenos Aires reported that prices rose 3.4 percent in February over January, taking the annual inflation pace to more […]
Sri Lanka US$10mn warehouse by Glowbal Outlet Stores
Mar 17, 2014 (LBO – A 10 million US dollar warehouse and logistics centre will be set up in Sri Lanka by Glowbal Outlet Stores, a firm founded by Canadians of Lebanese origin, the state investment promotion agency said.Ramzey Hammound president of Glowbal Outlets and Board of Investment of Sri Lanka chairman Lakshman Jayaweera had […]
Sri Lanka GDP grows 7.3-pct in 2013, 8.2-pct in 4Q: census dept
Mar 17, 2014 (LBO) – Sri Lanka’s gross domestic product grew 7.3 percent in 2013 with the economy estimated to have grown 8.2 percent in the fourth quarter from a year earlier, the state statistics office said. For the full year, agriculture grew 4.7 percent, industry 9.9 percent and services 6.4 percent. Sri Lanka is […]
Sri Lanka stocks up 0.3-pct,turnover four year low
Mar 17, 2014 (LBO) – Sri Lanka’s stocks end 0.3 percent higher partly reversing the last week’s losses with turnover dropping to a near five-year low, brokers said. The Colombo benchmark All Share Price Index closed 17.88 points higher at 5,914.11 up 0.30 percent. The S&P SL20 closed 6.31 points higher at 3,213.42, up 0.20 […]