Category: Economy and Markets
Commerce ministers approve landmark WTO trade deal
NUSA DUA, December 7, 2013 (AFP) – Commerce ministers on Saturday approved a trade deal securing a new lease on life for the World Trade Organization which could give a $1 trillion boost to the global economy. “It is so agreed,” Indonesian Trade Minister Gita Wirjawan told delegates at a WTO conference in Bali following […]
Sri Lanka warned on negative effects of import substitution
Dec 06, 2013 (LBO) – Sri Lanka’s drive towards trade restrictions and import substitution may hurt the country, as autarky has consistently failed elsewhere, an International Monetary Fund official has warned.Mathai meanwhile warned that such policies will also ultimately hurt exports. “It will be much more efficient – rather than from an accounting sense trying […]
Sri Lanka stocks close up 0.5-pct
Dec 06, 2013 (LBO) – Sri Lanka stocks closed greener Friday with diversified stocks sought by foreign investors, brokers said. NDB closed 50 cents lower at 159.50 rupees and Aitken Spence Hotel Holdings closed 50 cents lower at 63.00 rupees. Sampath Bank closed 70 cents lower at 166.00 rupees and DFCC closed flat at 122.00 […]
Sri Lanka stocks end lower
Dec 05, 2013 (LBO) – Sri Lanka stocks closed lower Thursday with diversified stocks losing ground despite strong foreign buying, brokers said. HNB closed flat at 143.50 rupees and Touchwood Investments closed 20 cents higher at 3.10 rupees. The Colombo benchmark All Share Price Index closed 2.34 points lower at 5,780.58, down 0.04 percent. The […]
Sri Lanka Treasuries yields drop
Dec 04, 2013 (LBO) – Sri Lanka’s Treasuries yields dropped across maturities at Wednesday’s auction with the 12-month yield falling as much as 19 basis points, the state debt office said.The 3-month yield dropped 09 basis points to 7.97 percent and the 6-month yield dropped 15 basis points to 8.65 percent. The debt office offered […]
Sri Lanka exports surge 35-pct in October
Dec 04, 2013 (LBO) – Sri Lanka’s exports surged 35 percent in October 2013 from a year earlier to 1.04 billion US dollars driven by a recovery in US and European demand with apparel exports growing 46 percent to 436 million US dollars. Industrial exports rose 34 percent to 771 million US dollars. “Exports of […]
‘s North
Dec 04, 2013 (LBO) – A 24-bed hospital built with support from the United Sates has been opened in Palai, Northern Sri Lanka, the US Agency for International Development said. USAID said the Palai hospital is part of nine hospitals being funded by Civil Military Support Element (CMSE) from the US embassy, NGO Medical Teams […]
Sri Lanka post program assessment by IMF
Dec 03, 2014 (LBO) – Sri Lanka’s inflation is easing and has weathered recent external turbulence well but the country has to be careful about external borrowing and effects of recent rate cuts, the International Monetary Fund has said. In the first post-program monitoring discussion with Sri Lanka, the IMF has also warned against a […]
‘s third integrated resort to have foreign investment
Dec 03, 2013 (LBO) – Sri Lanka’s third integrated resort in Colombo with a 300 million US dollar investment will have 80 percent foreign investment, officials said.Tax breaks for the two projects were delayed following protests. Sri Lanka’s Rajapaksa administration has come under fire for lowering gaming taxes to 5 percent and lifting value added […]
Sri Lanka gets US$1.2bn in FDI by November: provisional data
Dec 03, 2013 (LBO) – Sri Lanka is estimated to have received about 1. 2 billion US dollars of foreign direct investment by November 2013, investment promotions minister Lakshman Abeywardene said. For 2013 Sri Lanka targeted 2.0 billion US dollars of investments and it is not clear whether the target will be met. The data […]
Sri Lanka stocks close lower
Dec 03, 2013 (LBO) – Sri Lanka stocks closed lower with diversified and oil stocks losing ground, brokers said. Aitken Spence closed 70 cents lower at 106.20 rupees and Aitken Spence Hotel Holdings closed flat at 66.70 rupees. Commercial Bank closed 40 cents lower at 115.60 rupees and HNB closed 20 cents higher at 143.50 […]
” by Fitch
Dec 03, 2013 (LBO) – A two billion rupee debt issue by Sri Lanka’s Abans Limited, which has interests in consumer durables has been rated ‘A-(lka)’, Fitch Ratings said.The rating is the same as the senior debt of the company. The full statement is reproduced below:- Fitch Rates Abans’s Debentures Final ‘A-(lka)’ 02 Dec 2013 […]