Category: Economy and Markets
Sri Lanka population lower than estimated, but growing: Census Dept
June 27, 2012 (LBO) – Sri Lanka’s first countrywide census conducted after the end of a 30-year war shows the population is 20.277 million, the statistics office said, which is lower than earlier estimates. Earlier estimates put mid-year population in 2011 at 20.869 million with an annual growth rate of 1.0 percent. The census conducted […]
‘s North population shrinks, East expands
June 27, 2012 (LBO) – Population in Sri Lanka’s northern Jaffna area has shrunk during a 30-year civil war but parts of the former war zone which was not fully under control of separatists had seen above average growth, new census data shows. The first census conducted in the area since 1981, has shown that […]
Sri Lankan shares up 0.11 percent; large deals in John Keells
June 27, 2012 (LBO) – Sri Lankan share prices rise on Wednesday, driven by large trades in market heavyweight John Keells Holdings PLC and fabric maker, Textured Jersey Limited, brokers said. John Keells Holdings, dominated trading with two large trades, brokers said. A quantity of 284,000 JKH shares was sold at 190.00 rupees while a […]
Sri Lankan stocks flat; high turnover driven by Aitken Spence, Lion Brewery
June 26, 2012 (LBO) – Sri Lankan share prices were virtually flat on Tuesday, despite big ticket deals in Aitken Spence PLC and Lion Brewery PLC which propelled the bourse to one of its highest turnovers in a single trading day, brokers said. The benchmark All Share Price Index was down 0. 44 points or […]
Sri Lanka Distilleries Corp, transfers assets
June 25, 2012 (LBO) – Distilleries Corporation of Sri Lanka, has transferred stakes in a hotel and two plantations to a wholly owned subsidiary in a move that will consolidate non-alcohol businesses in a separate unit. Distilleries Company said it had transferred 54.06 million shares or a 41.7 percent stake in Browns Beach Hotel, to […]
Sri Lanka economic forum to probe ease of doing business
June 26, 2012 (LBO) – An annual economic forum next month organized by Sri Lanka’s Ceylon Chamber of Commerce will have a session focusing on the ease of doing business in the island. The Sri Lanka Economic Summit will be held in Colombo from July 10 to 12, held for the 13th successive year will […]
UN running low of funds humanitarian work in northern Sri Lanka
June 26, 2012 (LBO) – The United Nations is experiencing a funding shortfall to meet urgent humanitarian relief work across Sri Lanka’s conflict-hit north, with money running low for solid waste, shelter and water. Basic services to Menik Farm are reaching critical levels with the majority of providers approaching the end of their funding in […]
Sri Lanka forex markets in a spot
June 26, 2012 (LBO) – Sri Lanka’s spot foreign exchange markets were inactive Tuesday with no two way quotes following earlier regulatory pressure, though the market for transactions with settlement three days ahead, became active, dealers said. So-called ‘spot’ market deals are settled two days later. ‘Spot next’ or deals settled three days later, were […]
Sri Lanka stocks fall 0.96-pct
June 25, 2012 (LBO) – Sri Lankan share prices closed down Monday, despite large trades in Madulsima, Balangoda Plantations lifting turnover levels to over a billion rupees, brokers said. The key All Share Price Index fell 48. 72 points or 0.96 percent to close at 4,990.43, while the liquid Milanka Price Index dipped 26.00 points […]
Sri Lanka budget off track in first quarter 2012
June 25, 2012 (LBO) – Sri Lanka’s budget has gone off track in the first quarter of 2012, with current spending far outpacing tax revenues, leaving a yawning revenue deficit for the three months that is bigger than the gap for the whole of last year. Current spending by Sri Lanka’s rulers rose 24.2 percent […]
Sri Lanka energy sector eyed by US firms: envoy
June 25, 2012 (LBO) – Sri Lanka’s energy sector is a key area of interest for US companies scouting for investment opportunities after the end of a three decades war, US ambassador to Colombo Patricia Butenis said. “We’ve seen a lot of interest from American energy companies interested in help building oil refineries and developing […]
Sri Lanka missing the bus again?
June 25, 2012 (LBO) – If Sri Lanka is to achieve transformative, inclusive growth, it needs to have 7 percent plus growth for several consecutive years. It is well recognized by knowledgeable people, including key decision makers within government, that this would require around one billion dollars in new investment every year. This quantum cannot […]