Category: Economy and Markets
Sri Lankan stocks up 0.42 percent
June 07, 2012 (LBO) – Sri Lankan stock prices rose marginally on Thursday, on selected buying across key blue chip counters, brokers said. The All Share Price Index rose 0.42 percent or 20.23 points to 4,757.98, while the liquid Milanka Price Index gained 25. 09 points or 0.59 percent to close at 4,223.35, according to […]
Sri Lankan stocks dip 0.22 percent
June 06, 2012 (LBO) – Sri Lankan share prices slipped 0.22 percent on Wednesday, as investors cherry-picked selected counters, brokers said. The broader All Share Price Index fell 10.85 points to close at 4,737.75, while the more liquid Milanka Price Index dipped 0.22 percent or 9.54 points to end at 4,198.26, according to Colombo Stock […]
Sri Lanka short term Treasuries yields fall
June 06, 2012 (LBO) – Sri Lanka’s short term Treasury bill yields fell as much as 15 basis points at Wednesday’s auction though one year yields edged up slightly, data from the state debt office showed. Before the advent of paper money and central banking, rulers debased money by mixing precious metals with cheaper metals […]
Sri Lankan stocks fall 2.8-pct
June 5, 2012 (LBO) – Sri Lankan share prices fell nearly three-percent on Tuesday, as the new trading restrictions for large blocks of shares came into effect, brokers said. The benchmark All Share Price Index dropped 2.79 percent or 136.58 points to end at 4,748.60, while the liquid Milanka Price Index fell 3.12 percent or […]
Sri Lanka calls for investments in import substitution
June 04, 2012 (LBO) – Sri Lanka’s finance ministry has called businesses to invest more in import substitution businesses, saying hundreds of millions of dollars are being spent to bring such goods from foreign countries. The finance ministry in its annual report said there was a “continued reliance” on importing food, pharmaceuticals, dairy products, textile, […]
Sri Lanka expropriated factories to new investors
June 03, 2012 (LBO) – Sri Lanka has given a series of defunct factories which were expropriated from foreign and local investors in November last year to new investors, with compensation also promised, a finance ministry report said. The finance ministry’s annual report said Heath Food Products (Pvt) Ltd has been given to a firm […]
Sri Lanka EPF explains arrears crediting process
June 02, 2012 (LBO) – Sri Lanka’s Employees’ Provident Fund, a retirement fund of private citizens managed by the state, has explained how overdue contributions from employers are credited to member accounts. The statement was in reference to reports that 3.4 billion rupees, recovered from employers by Sri Lanka’s Commissioner of Labour has not been […]
Sri Lanka ice cream maker claims Maldives top spot
June 02, 2012 (LBO) – Sri Lanka’s Ceylon Cold Stores Plc, a unit of listed John Keells Holdings which claims market leadership position for ice cream in the island said it had secured a 50 percent market share in the Maldives. The firm sells ice cream and soft drinks under ‘Elephant House’ brand. “…Elephant House […]
Sri Lanka to merge expropriated sugar firms
June 2, 2012 (LBO) – Sri Lanka is planning to merge Sevenagala Sugar and Pelwatte Sugar Industries two sugar mills expropriated from citizens, into a single state-run entity, a finance ministry report said. The two sugar mills will be “fully owned/ administered by the Government, while ensuring employee continuity, and payment of compensation to third […]
Sri Lanka fuel consumption doubled in three years: official
June 01, 2012 (LBO) – Sri Lanka’s consumption of petroleum products has doubled in the three years since the end of a war an official said, as economic activity picked up requiring more energy to run the economy. Demand for petroleum products is going up despite higher prices, said R H S Samaratunga, secretary, Petroleum […]
Sri Lankan stocks down 0.67%
May 31, 2012 (LBO) – Sri Lankan share prices slipped back into the red on Thursday, despite a few foreign buyers bargain hunting on selected stocks, brokers said. The broader All Share Price Index fell 32. 97 points or 0.67 percent to 4,832.15 while the liquid Milanka Price Index slipped 12. 88 points or 0.29 […]
Sri Lanka short term treasuries yields fall
May 29, 2012 (LBO) – Sri Lanka’s 3-month Treasury bill yield fell 57 basis points to 11. 01 percent, following the trend in secondary markets, while the 12-month yield edged up slightly at this week’s auction, official data showed. The 6-month yield fell 3 basis points to 12.29 percent and the 12-month yield rose 10 […]