Category: Economy and Markets
‘s President Sang: interview
Dec 10, 2011 (LBO) – Vietnam is a country which left behind a bitter war civil war with foreign involvement to become a fast growing nation and a top destination for global foreign direct investments following its Äổi Má»›i or (renewal) political and market reforms starting from 1986. Vietnam built bridges both internally and externally […]
Sri Lanka stocks end down 0.5-pct
Dec 09, 2011 (LBO) – Sri Lankan stocks closed weaker Friday, sinking below the 6,000 point mark in thin trade with an investor continuing to accumulate shares of Distilleries Company, brokers said. The main All Share Price Index fell 0.51 percent (30.75 points) to 5,996.44, while the more liquid Milanka index fell 0.34 percent (17.85 […]
Sri Lanka forex reserves slip 12-pct in Sept to US$7.0bn
Dec 09, 2011 (LBO) – Sri Lanka’s foreign reserves slipped 11.8 percent to 7,095 million US dollars by end September from a month earlier, amid defence of a soft dollar peg, official data showed. The trade deficit expanded 93.6 percent to 6.8 billion US dollars. The trade gap is driven by income derived from net […]
Sri Lanka lawmaker speaks for food freedoms, voiceless minority
Dec 09, 2011 (LBO) – A Sri Lankan lawmaker has spoken out for food freedoms, after a fellow parliamentarian and prime minister proposed banning an imported food heavily consumed by Tamil speaking minority citizens. Harsha de Silva, a lawmaker representing Sri Lanka’s main opposition spoke out against a proposal by Prime Minister D M Jayaratne […]
Sri Lanka reaches billion dollar FDI volume in 2011: minister
Dec 09, 2011 (LBO) – Sri Lanka has reached a highest ever foreign direct investment volume of a billion US dollars by November 2011, deputy economic development minister Lakshman Yapa Abeywardene said. “This includes state land sales,” minister Abeywardene said. “Land purchases are an integral part of an investment project. By November 2011 we have […]
Sri Lanka stocks flat
Dec 08, 2011 (LBO) – Sri Lankan closed slightly weakener Thursday, staying just above the 6,000 point mark in thin trade, with prices of two firms which revealed fraud falling sharply, brokers said. There was a crossing or off-market private deal of 458,040 shares of Distilleries Company at 150 rupees each, the price at which […]
Sri Lanka food freedoms under fresh threat: report
Dec 08, 2011 (LBO) – Sri Lanka’s Prime Minister D M Jayaratne had asked for a complete ban on fruit imports and asked for the price of wheat flour to be increased to a level people “could not afford”, a media report said. Farmers in countries like Pakistan produce better quality fruits than in Sri […]
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Dec 07, 2011 (LBO) – Sri Lanka’s state-run water supply agency has found about 15,000 suspected points where water is stolen in the island’s capital Colombo where 48 percent of the supplied water brings no revenue, an official said. About 30 percent of Sri Lanka’s Water Supply and Drainage Board is ‘non-revenue’ water but in […]
Sri Lanka Treasuries yields edge higher
Dec 07, 2011 (LBO) – Sri Lanka’s Treasuries yields increased across maturities at Wednesday’s auction with the average 12-month yield topping 9.0 percent for the first time in over 17-months official data shows. The 3-month yield rose 8 basis points to 8.28 percent, the 6-month yield rose 6 basis points to 8.56 percent and the […]
Sri Lankan companies get faster visas for UK visits
Dec 07, 2011 (LBO) – The British High Commission has launched a fast track visa pilot scheme for 20 selected companies in Sri Lanka which do regular business with the United Kingdom. Thomas Greig, Regional Director of the UK Border Agency said the UK Border Agency and UK Trade and Investment are working together to […]
Sri Lanka stocks end up 0.7-pct
Dec 07, 2011 (LBO) – Sri Lankan closed higher Wednesday, swinging back over the 6,000 point mark although trading was thin, brokers said. Orient Garments was the most actively traded stock, accounting for the second highes turnover and closing at 36. 80 rupees, down 3.50, with 2.77 million shares done. It hit a day’s high […]
Sri Lanka lifts limit foreign Treasuries holdings
Dec 06, 2011 (LBO) – Sri Lanka has raised a limit on the foreign holdings on Treasury bills to 12. 5 percent of outstanding government debt from 10 percent, the Central Bank said, amid rising interest pressure from the defence of a dollar peg. The raising on the foreign Treasuries holdings limit will increase “resource […]