Category: Economy and Markets
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 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 economic forum to bridge gap between business and universities
June 14, 2013 (LBO) – An annual economic policy forum will bring universities and business together in a bid to bridge a perceived gap between their needs and the output of local universities its organizer, Ceylon Chamber of Commerce said. A speech by Gehan Amaratunga, head, electronics, power and energy conversion group, Cambridge Engineering Faculty […]
Sri Lanka stocks up 0.2-pct
June 14, 2013 (LBO) – Sri Lanka’s stocks closed up 0.19 percent on Friday following three straight days of losses with index heavy stocks continuing to drop and profit taking by some investors, brokers said. Distilleries Company gained 60 cents to close at 195.00 rupees, The Lion Brewery closed at 387.40 up 2.40 rupees. The […]
Sri Lanka authorities watch gold import surge
June 14, 2013 (LBO) – Sri Lanka has seen a surge in gold imports in the second quarter of 2013 and is being watched by authorities, Central Bank Governor Nivard Cabraal said.“We have seen a activity in the gold market.People are importing gold,” Central Bank Governor Nivard Cabraal said. “From the second quarter it has […]
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 […]
Sri Lanka rupee weakness a logical adjustment: CB Governor
June 14, 2013 (LBO) – A weakness in Sri Lanka’s rupee is a “logical adjustment” coming amid falling Asian currencies including the Indian rupee and Japanese Yen that will also ward off import pressure, Central Bank Governor Nivard Cabraal said.“There are different ways of looking at this,” Cabraal said. “The Indian rupee has weakened significantly. […]
Sri Lanka stocks down 1.2-pct, rupee weaker
June 13, 2013 (LBO) – Sri Lanka’s stocks closed down 1.22 percent on Thursday for third straight day and the rupee closed lower touching 128 to the dollar, amid turmoil in global markets, dealers and brokers said. Distilleries Company lost 60 cents to close at 194.40 rupees, The Lion Brewery closed at 385.00 down 50 […]
Sri Lanka sells 20-year bonds at 12.15-pct
June 13, 2013 (LBO) – Sri Lanka has sold 20-year rupee denominated bonds to yield 12.15 percent and 30-year bonds to yield 12.50 percent, the state debt office said. . At the first 30-year bond auction last month 30-year bonds were also sold at 12.50 percent. The debt office sold 8.0 billion rupees in 20 […]
Sri Lanka to ban foreign investments in to steel, cement, retail trade
June 13, 2013 (LBO) – Sri Lanka plans to ban foreign investments into steel, cement, retail trade, small scale agriculture and beauty care products, to ‘protect’ domestic investors, according to decision by the cabinet of ministers.Cabinet spokesman Keheliya Rambukwelle said relevant regulations would be made known later. He said existing investors in the sectors will […]