Category: Economy and Markets
Vietnam seeks more business with Sri Lanka
Nov 02, 2013 (LBO) – A delegation of 15 Vietnamese companies is visiting Sri Lanka this month seeking local partners and agents, the Ceylon Chamber of Commerce said. There will be business to business meeting on November 18 at the Ceylon Chamber of Commerce office. The firms represent makers of machinery such as rice reapers, […]
Sri Lanka stocks close flat
Nov 01, 2013 (LBO) – Sri Lanka stocks closed flat with a trade in a tile firm pushing turnover above a billion rupees, brokers said. PCH Holdings closed flat at 1.60 rupees and PC House ended up 10 cents to 90 cents. The Colombo benchmark All Share Price Index closed just 0.26 points lower at […]
Sri Lanka stocks close up 0.4-pct
Oct 30, 2013 (LBO) – Sri Lanka stocks closed 0.47 percent higher helped by tobacco and consumer goods stocks and strong foreign purchasing, brokers said. Touchwood ended up 20 cents to 4.10 rupees. PCH Holdings closed flat at 1.70 rupees and PC House closed flat at 80 cents. NDB Bank closed flat at 158.00 rupees […]
Sri Lanka inflation at 6.7-pct in October
Oct 31, 2013 (LBO) – Sri Lanka’s consumer prices rose 6.7 percent in October 2013 from a year earlier, accelerating from 6.2 percent in September, the state statistics office said. Sri Lanka’s Colombo Consumer Price Index rose 0.2 percent in the month to 176.1 points in the month. Sri Lanka’s inflation has been stable for […]
‘s Sampath Bank to sell Rs5.0bn in debt
Oct 31, 2013 (LBO) – Fitch Ratings said a 3.0 billion rupees subordinated debt offer of Sri Lanka’s Nations Trust Bank has been given an expected ‘A-(lka)’ rating. SB could be downgraded if there is an increase in risk appetite, for instance through aggressive lending or weakening of underwriting standards that can put pressure on […]
Sri Lanka Treasuries yields plunge
Oct 30, 2013 (LBO) – Sri Lanka’s Treasuries yields dropped sharply at Wednesday’s auction with the 12-month yield falling 19 basis points to 9.83 percent, data from the state debt office showed.The debt office which offered 10 billion rupees in bills for roll-over said 20 billion rupees worth bid were accepted from the market. The […]
Sri Lanka hotels profits may be squeezed by rising labour costs
Oct 30, 2013 (LBO) – Shortfalls of labour amid fast growth in Sri Lanka’s tourism sector may squeeze profits and undermine industry attempts to boost product quality, an official said.“We will seriously need to see how we can halt the current shortage of staff,” Jayantissa Kehelpannala, president of the Tourist Hotels Association of Sri Lanka […]
Sri Lanka makes more reforms but slips in Doing Business ranking
Oct 29, 2013 (LBO) – Sri Lanka made the most changes in South Asia making it easier to do business, but the country slipped to 85 from 81 in a global ranking compiled by the World Bank group as several other nations raced ahead.The World Bank group’s ‘Doing Business 2014’ report said Sri Lanka was […]
Sri Lanka stocks closed down 0.3-pct, rupee weaker
Oct 29, 2013 (LBO) – Sri Lanka stocks closed 0.38 percent lower amidst speculative trades and the rupee weakened amid excess rupee liquidity in the banking system. The Colombo benchmark All Share Price Index closed 22.44 points lower at 5,906.53, down 0.38 percent, after reaching an intra-day high of 5,931.95. The S&P SL20 closed 1.14 […]
Sri Lanka stocks down 0.33-pct, rupee weaker
Oct 28, 2013 (LBO) – Sri Lanka stocks closed down 0.33 percent amidst heavy foreign selling and the rupee weakened against the US dollar on importer demand, brokers and dealers said. The benchmark Colombo All Share Price Index closed 19.78 points lower at 5,928.97, down 0.33 percent, after peaking at an intraday high of 5,953.39. […]
Sri Lanka has to cut budget deficit, boost rule of law, for growth: economists
Oct 26, 2013 (LBO) – Sri Lanka has to reduce its budget deficit to boost domestic savings and improve rule of law to create a better environment for investment, economists said.Reduction of budget deficits will increase domestic savings, reducing the dependency on foreign borrowings for investments, A V de S Indraratne, chairman of Sri Lanka […]
‘s new trunk road
COLOMBO, October 24, 2013 (AFP) – Twenty-four elephants lined up for a race Thursday on Sri Lanka’s newest expressway, but thousands of spectators were left disappointed when organisers scrapped the event due to safety concerns. The animals and jockeys were jostling at the start line on the Chinese-built 25.8-kilometre (16 mile) four-lane expressway from the […]