Category: Economy and Markets
Sri Lanka inflation eases to 5.1-pct in October
Oct 31, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo slowed to 5.1 percent in October 2011, from 6. 4 percent in September, the third straight monthly slowdown, the state statistics office said. The Colombo Consumer Price Index slid 0. 1 percent to 151.5 points in October, from 151.7 in September. The 12-month […]
Sri Lanka lures Vietnam businessmen
Oct 31, 2011 (LBO) – A team of Vietnamese businessmen who visited Sri Lanka recently as part of a state visit by Truong Tan Sang, president of Vietnam, was reported to be keen on investing in the island. During the visit the Sri Lanka – Vietnam Business Council of the Ceylon Chamber of Commerce held […]
Sri Lanka stocks close up 0.39-pct, rupee up
Oct 28, 2011 (LBO) – Sri Lanka’s stock close up 0. 39 percent with motor stocks gaining after strong results, brokers said. The Colombo All Share Index close at 6,348. 44,up 24.8 points recovering some losses, while the Milanka Index of liquid stocks rose 10. 98 points (0.19 percent) to close at 5,661.8 points. Diesel […]
Sri Lanka gets Japanese aid for reviving livelihoods
Oct 28, 2011 (LBO) – Japan has given financial aid to support efforts to help ex-combatants and other affected people in Sri Lanka’s former northern war zone to resume their livelihoods. The Japanese government gave 122 million yen (about 1.5 million US dollars) to the International Organization for Migration (IOM) for “reintegration and reconciliation” efforts […]
Sri Lanka plan to push PPPs, human resources: ADB
Oct 28, 2011 (LBO) – The Asian Development Bank said its program for Sri Lanka from 2012 will focus on public private partnerships in infrastructure, boosting human resources and lagging regional including former war zones. “ADB will also provide nonsovereign loans to reforming state-owned enterprises to expose them to alternate sources of finance. Private investments […]
Sri Lanka stocks end down 0.4-pct
Oct 27, 2011 (LBO) – Sri Lankan stocks closed lower Thursday, losing more gains of a two-day upswing in which prices were pushed up amid reports of an attempt to oust a regulator fighting equities fraud, brokers said. The main All Share Price Index fell 0.35 percent (22.46 points) to 6,323.59, while the more liquid […]
‘s President Rajapakse says Asia key to stability
PERTH, October 27, 2011 (AFP) – Sri Lanka’s President Mahinda Rajapakse Thursday accused Western nations of doing “too little, too late” to address economic problems, adding that Asia was key to global stability. “At present, many advanced nations suffer from high unemployment which has resulted in the first signs of political and social unrest being […]
Protests hit China as property prices fall
SHANGHAI, October 27, 2011 (AFP) – Hundreds of angry home buyers launched a series of protests in China’s commercial hub of Shanghai this week, as owners decried falling prices for their properties, state media said Thursday. Hit by weak demand and lack of funding, developers have slashed prices for some new projects in the city […]
Sri Lanka Treasuries yields rise
Oct 25, 2011 (LBO) – Yields on Sri Lankan treasury bills rose across maturities for the second straight week with only 5. 7 billion rupees of bids being accepted from the market after an offer to sell 12 billion rupees in maturing bills. The 03-month yield rose 05 basis points to 7.29 percent, the 6-month […]
Sri Lanka stocks end down 1.2-pct
Oct 25, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday, losing half their gains in the last two days when shares had been pushed up in thin trade amid rumours of attempts to push out a regulator fighting equities fraud, brokers said. The main All Share Price Index fell 1. 22 percent (78.31 points) […]
Sri Lanka state to take over stalled high rise project
Oct 25, 2011 (LBO) – The Sri Lankan government is to take over a high rise hotel and apartment tower whose construction was stalled after its parent firm got into financial trouble. The takeover is to be effected under a new law that is being put through the judicial and parliamentary approvals process that provides […]
Sri Lanka stocks end up one percent
Oct 24, 2011 (LBO) – Sri Lankan stocks rose Monday with many shares pushed up in thin trade, led by sharp gains in illiquid ones, amid a controversy over an attempt to push out a regulator cracking down on equities fraud, brokers said. There was one crossing of Seylan Bank of 529,300 shares at 65 […]