Category: Economy and Markets
Sri Lanka Central Finance raises Rs2.0bn in debt
Dec 10, 2013 (LBO) – Sri Lanka’s Central Finance Plc, a registered finance company has received more than 2.0 billion rupees of orders for its listed debt issue. Central Finance offered 20 million 100 rupee secured redeemable debentures.Managers to the sale, NDB Investment Bank said the issue was oversubscribed shortly after opening and will close […]
BOI investor services unit at new location
Dec 10, 2013 (LBO) – Sri Lanka’s Board of Investment said its investor service department had been shifted to the 6th floor of Colombo’s World Trade Centre building.The new office was opened by investment promotion minister Lakshman Abeywardene on Tuesday.The department has a staff of over 100 facilitating nearly 1,000 BOI approved firms with processing […]
Sri Lanka stocks close higher
Dec 09, 2013 (LBO) – Sri Lanka stocks end greener Monday with index heavy stocks gaining amid a broad sell-off in the overall market in thin trade, brokers said. Turnover was 332.30 million rupees, down from 779.81 million rupees last Friday, with stocks of 87 firms closing in the red against 79 gainers. The Colombo […]
Sri Lanka unemployment up amid higher female participation
Dec 09, 2013 (LBO) – Sri Lanka’s unemployment rate had risen to 4.5 percent in the first half of 2013 from 3.9 percent a year earlier, reversing several years of labour market tightening official data showed.The total number of unemployed had risen to 401,000 for the first half of 2013 from 324,000 a year earlier, […]
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 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 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 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 […]