Category: Economy and Markets
Sri Lanka rupee weaker, bond yields up
June 21, 2013 (LBO) – Sri Lanka rupee was quoted below 129.00 to the US dollar in the spot market Friday while bond yields were also elevated, dealers said.The rupee opened at 128.40/60 levels against the US dollar and weakened in mid-day trade.Dealers say there were higher levels of forward covering in the market including […]
Sri Lanka stocks close down 0.9-pct
June 21, 2013 (LBO) – Sri Lanka’s stocks closed down 0.90 percent on Friday with index heavy stocks showing losses and companies with interests in gold also retreating due to a 10 percent import tax imposed by the Sri Lankan govenment , brokers said. The benchmark Colombo All Share Index closed 56.17 points lower at […]
Sri Lanka-EU investor forum in Colombo
June 20, 2013 (LBO) – A European Union – Sri Lanka Investor Dialogue will take place in July 09 in Colombo, to foster explore new partnerships and expand existing ones, a business chamber of businesses linked to Europe said.The European Chamber of Commerce of Sri Lanka (ECCSL) said investment promotion minister Lakshman Yapa Abeywardene and […]
Sri Lanka stocks close flat
June 20, 2013 (LBO) – Sri Lanka’s stocks closed barely changed Thursday with the market showing marginal gains, helped by foreign buying in to a index heavy stock, brokers said. The benchmark Colombo All Share Index closed 02.21 points higher at 6,211.44, a 0.04 percent gain and the S&P SL 20 Index closed 03.54 points […]
‘s Treasuries yields flat
June 19, 2013 (LBO) – Sri Lanka’s Treasuries yields were kept flat at Wednesday’s auction with 10.75 billion rupees in bid accepted after offering 12.0 billion for rollover, data from the state debt office showed.The spot US dollar was trading at 128.50/55 in afternoon trade Wednesday, dealers said around the same levels at Tuesday’s closing […]
Sri Lanka stocks close down 0.4-pct
June 18, 2013 (LBO) – Sri Lanka’s stocks closed down at 0.42 percent on Tuesday, continuing its downward trend with investors taking profits and index heavy stocks continuing to drop, brokers said. The benchmark Colombo All Share Index closed 26.11 points lower at 6,193.00 and the S&P SL 20 Index closed 0.33 points higher at […]
Sri Lanka economy grows 6.0-pct in 2013 first quarter
June 18, 2013 (LBO) – Sri Lanka’s gross domestic product grew 6.0 percent in the first quarter of 2013 from a year earlier, slowing from 8.0 percent last year and 6.3 percent in the fourth quarter of 2012, the state statistics office said. In services, wholesale and retail trade grew just 1.0 percent with import […]
Sri Lanka needs a stronger entrepreneurial culture: academics
June 18, 2017 (LBO) – A tendency to look to the government for solutions as well as practical constraints like high interest rates and lack of business skills like marketing, academics who are helping improving management skills in the country said. “When you give so many subsidies people or businesses they start depending on the […]
Sri Lanka growth to be on track: CB Governor
June 17, 2013 (LBO) – Sri Lanka is expecting 7.5 percent growth this year despite a slowdown in exports, and adverse weather hitting fisheries, Central Bank Governor Nivard Cabraal said. The hotel sector as doing well and lots of investments were taking place, he said in addition to other areas like remittances, which were also […]
Sri Lanka promises fast-track investment approvals from July 01
June 17, 2013 (LBO) – Sri Lanka’s investment promotion ministry said a new fast-track unit will be opened from July 01, to give approvals for projects within three months.Investment promotions minister Lakshman Yapa Abeywardene expects the procedure to provide all necessarily approvals, within three months, the statement said. The Board of Investment of Sri Lanka […]
Sri Lanka stocks close flat
June 17, 2013 (LBO) – Sri Lanka’s stocks closed flat Monday, due to index heavy stocks continuing to drop and profit taking by some investors, brokers said. Nestle Lanka gained 8.40 rupees to close at 1928.60 rupees and Dialog Axiata closed flat at 8.80 rupees. The benchmark Colombo All Share Index closed 0.28 points lower […]
Sri Lanka gaming tax to be on par with the rest of the world: minister
June 14, 2013 (LBO) – Sri Lanka’s gaming taxes could be made to be on par with the rest of the world, investment promotions minister Lakshman Abeywardena said amid queries why gaming levies are being brought down.He said casinos were now located haphazardly in Colombo and some were near schools and in a recent budget […]