Category: Economy and Markets
Sri Lanka stocks down 0.1-pct, rupee weaker
July 16, 2013 (LBO) – Sri Lanka’s stocks closed down 0.13 percent on Tuesday with large cap stocks making losses and the rupee weakened in forex markets, brokers and dealers said. Nestle Lanka closed at 1,930.00 up 11.90 rupees and Aitken Spence closed at 125.00 rupees down 1.00 rupees. The benchmark Colombo All Share Index […]
Sri Lankans arrested in UK for working
July 16, 2013 (LBO) – Two Sri Lankans were arrested by the immigration authorities for overstaying visas and working in Blackpool, England, the UK High Commission in Colombo said.The statement said the proposals are part of the UK’s action against unauthorized migrants to live and work in the UK and to take tough action against […]
Sri Lanka stocks down 0.2-pct
July 15, 2013 (LBO) – Sri Lanka’s stocks closed down 0.22 percent Monday with large cap stocks making losses, brokers said. Nestle Lanka closed at 1,918.10 down 12.90 rupees and Aitken Spence closed at 126.00 rupees down 10 cents. The benchmark Colombo All Share Index closed 13.54 points lower at 6,015.20 down 0.22 percent and […]
‘s faster rise in household expenses, lower carb intake a concern: economist
July 15, 2013 (LBO) – A faster rise in expenditure than income and a reduction in consumption of rice and wheat was a concern that policymakers have to pay attention, a legislator and economist said. Opposition legislator Harsha de Silva said, according to the initial results of a 2012 household income and expenditure survey of […]
‘s maturing foreign debt, budget deficit a concern: Fitch
July 15, 2013 (LBO) – Sri Lanka’s 6.0 percent growth level and lower inflation helped its ‘BB-‘ rating but a high budget deficit and maturing foreign debt were concerns, Fitch Ratings has said in a regional review. An improvement in public or external financing can help an improve the while a significant deterioration in public […]
Sri Lanka industries fear upcoming land ownership restrictions
July 15, 2013 (LBO) – Planned restrictions on land ownership in Sri Lanka by foreigners may hurt industrial expansion in the country, an association representing some of the largest industries in the country said. “A number of our member and other large manufacturing companies in Sri Lanka are foreign owned,” Pravir Samarasinghe, head of the […]
Sri Lanka forex market firm quotes, liquidity slightly lower
July 12, 2013 (LBO) – Sri Lanka’s forex markets saw firm quotes for the spot US dollar Friday at around 130.85/131.00 though trading was still active for spot-next deals where settlement is made three days ahead, dealers said.On Thursday the debt office sold April 11, 2018 bonds at a weighted average yield of 11.18 percent, […]
Sri Lanka stocks down 0.5-pct, rupee steady
July 12, 2013 (LBO) – Sri Lanka’s stocks closed down 0.55 percent Friday following two consecutive days of gains with large cap stocks making losses, brokers said. Ceylon Tobacco Company closed at 1,000.00 rupees up 2.70 rupees. The benchmark Colombo All Share Index closed 33.64 points higher at 6,028.74 down 0.55 percent and the S&P […]
Sri Lanka BOC to finance Rs. 3.9 bn road project
July 12, 2013(LBO) – Sri Lanka’s state run Bank of Ceylon will provide a 3.91 billion rupee loan to the Road Development Authority to rehabilitate and upgrade a 48 kilometer stretch of road. The state information office said in a statement that the project which has approval from the cabinet of ministers will be completed […]
Sri Lanka stocks up 0.8-pct
July 11, 2013 (LBO) – Sri Lanka’s stocks closed up 0.77 percent Thursday showing gains for a second consecutive day with large cap stocks making gains, brokers said. Distilleries Company closed at 192.00 rupees up 3.00 rupees and Ceylon Tobacco Company closed at 997.30 rupees up 1.30 rupees. The benchmark Colombo All Share Index closed […]
Sri Lanka stocks up 0.6-pct, rupee steady
July 10, 2013 (LBO) – Sri Lanka’s stocks closed up 0.6 percent Wednesday ending a five day losing streak with large cap stocks making gains, and the rupee slipped marginally lower in the forward market brokers and dealers said. Pan Asia closed at 18.30 rupees down 10 cents, Union Bank of Colombo closed at 16.40 […]
Sri Lanka needs free trade, FDI, better education, to sustain growth
July 10, 2013 (LBO) – Sri Lanka has to maintain economic stability free trade, draw more foreign investment and invest in education to boost productivity and sustain high levels of growth, officials said at the start of a policy forum.Ceylon Chamber of Commerce chief Suresh Shah said Sri Lanka had to export more to grow. […]