Category: Economy and Markets
Sri Lanka stocks close down 0.2-pct
Nov 19, 2013 (LBO) – Sri Lanka stocks closed lower with tobacco and plantation stocks losing ground despite strong foreign buying, brokers said. Carson Cumberbatch closed 10 cents higher at 380.10 rupees and Sampath Bank closed 10 cents higher at 166.00 rupees. Dialog closed flat at 9.00 rupees and Ceylinco Insurance closed flat at 1,300.00 […]
Sri Lanka stocks close up 0.2-pct
Nov 18, 2013 (LBO) – Sri Lanka stocks closed higher with diversified stocks picking up amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 13.51 points higher at 5,824.48, up 0.23 percent. The S&P SL20 closed 25.63 points higher at 3,200.31, up 0.81 percent. Turnover was 936.44 million rupees, up […]
Sri Lanka consumer durables group, sales, profits drop
Nov 18, 2013 (LBO) – Profits and revenues at Singer (Sri Lanka) Plc, a top consumer durables seller dropped 67 percent to 62 million rupees in the September 2013 quarter from a year earlier, amid tight economic conditions.Furniture, transport and agro products also dropped. But communications sector rose to 871 million rupees from 338 million […]
Small states seek Commonwealth backing for cheap credit at Sri Lanka meet
Nov 17, 2013 (LBO) – Small states are seeking endorsement from Commonwealth leaders at a in their bid to regain access to cheap finance from multilateral lenders, at a summit meeting in Sri Lanka. Without the ability to depreciate the currency, rulers lose the principle ability to impoverish the population and their path is clear […]
Sri Lanka foreign reserves at US$7.0bn in September
Dec 15, 2013 (LBO) – Sri Lanka’s foreign reserves eased to 7.0 billion US dollars in September 2013 from 7.5 billion US dollars in August, official data showed. This year Sri Lanka has to repay about 500 million US dollars to the IMF which are made directly out of foreign reserves of the Central Bank. […]
Sri Lanka stocks close down 0.3-pct
Nov 15, 2013 (LBO) – Sri Lanka stocks closed lower in a broad sell-off with consumer goods and diversified stocks losing ground, brokers said. Ceylinco Insurance closed 69.60 rupees higher at 1,333.20 rupees and Ceylon Tobacco Company closed 5.00 rupees higher at 1,055.00 rupees. Dialog closed 10 cents higher at 9.10 rupees and Sri Lanka […]
Sri Lanka GDP grows 7.8-pct in 2013 third quarter: Census Dept
Nov 15, 2013 (LBO) – Sri Lanka’s gross domestic product expanded 7.8 percent in the third quarter of 2013 from a year earlier, and accelerating from 6.8 percent in the second quarter, the state statistics office said.The statistics office said agriculture grew 7.0 percent against a 0.5 percent contraction last year with tea down 5.1 […]
Yellen says printing to continue, denies bubble charges
WASHINGTON, November 14, 2013 (AFP) – Janet Yellen, the White House nominee to lead the Federal Reserve, said Thursday that the central bank’s stimulus must remain in place to bolster an economy where growth remains fragile. Staking out her support for policies crafted by current chairman Ben Bernanke, Yellen, the Fed vice chair, told senators […]
Sri Lanka exports up 11-pct in September
Nov 15, 2013 (LBO) – Sri Lanka’s exports rose 11 percent to 890 million US dollars with apparel exports surging 27 percent to 386 million US dollars amid a recovery in US and European markets, the Central Bank said. Apparel exports rose 30.7 percent to the US and 27.7 percent to the EU. Rubber product […]
Calls for travel and food freedoms at Sri Lanka Commonwealth meet
Nov 15, 2013 (LBO) – The Commonwealth was home to half the world’s hungry and their pain can be eased by freeing access to food, Australian Prime Minister Tony Abbot said at a summit meeting in Sri Lanka, while a top official called for greater travel freedoms.The Commonwealth is made up of countries in the […]
Sri Lanka stocks close up 0.2-pct
Nov 14, 2013 (LBO) – Sri Lanka stocks closed higher helped by food and hotel firms, brokers said. Commercial Bank closed 10 cents higher at 113.00 rupees and Cargills Ceylon closed 3.00 rupees higher at 150.00 rupees. Distilleries closed flat at 184.00 rupees. HNB closed 10 cents lower at 144.90 rupees and Sampath Bank closed […]
Sri Lanka stocks close flat
Nov 13, 2013 (LBO) – Sri Lanka stocks closed flat despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 3.20 points higher at 5,816.04, up 0.06 percent. The S&P SL20 closed 12.38 points lower at 3,178.28, down 0.39 percent. Turnover was 710.41 million rupees, up from 579.86 million rupees a […]