Category: Economy and Markets
Sri Lanka stocks down 1.5-pct
July 12, 2011 (LBO) – Sri Lanka stocks slumped again Tuesday, dropping 1.54 percent amid continued forced selling with Softlogic Holdings falling below its Initial Public Offer (IPO) price on its trading debut. The main All Share Price Index closed at 6,663.64, down 1.54percent (103.95 points) while the more liquid Milanka index fell 1.76 percent […]
Sri Lanka war-torn north shows highest economic growth: CB
July 12, 2011 (LBO) – Sri Lanka’s northern province, which had been badly hit by war, had the highest rate of economic growth in 2010 as a post-war rebound continued, the central said. The north’s gross domestic product grew 22.0 percent last year, the bank said in an analysis of provincial GDP. The eastern province, […]
Sri Lanka stocks slump 02-pct
July 11, 2011 (LBO) – Sri Lanka stocks fell steeply Monday with sharp falls in market heavyweights and recent debutants, brokers said. The main All Share Price Index closed at 6,767.59, down 2.09 percent (144.39 points) while the more liquid Milanka index fell 1.76 percent (112.52 points) to close at 6,274.45, according to stock exchange […]
Sri Lanka exports up 37-pct in April
July 11, 2011 (LBO) – Sri Lanka’s exports rose 37 percent in April 2011 to 745. 7 million US dollars driven by a 41 percent gain in industrial exports to 574 million US dollars, while imports also rose 53 percent to 1.5 billion US dollars, the Central Bank said. Intermediate goods rose 34 percent to […]
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July 11, 2011 (LBO) – Fitch Ratings Lanka has assigned Nations Trust Bank’s (NTB) proposed subordinated debentures of up to two billion rupees a National Long-Term rating of ‘A-(lka)’. The John Keells group and the Central Finance group hold 29. 9 percent and 20 percent of NTB’s equity. The issue is rated one notch below […]
Sri Lanka workforce dying early: report
July 10, 2011 (LBO) – Sedentary lifestyles and absence of regular health checks are making Sri Lanka’s workforce unhealthy with an alarming increase in early deaths that could have implications for economic growth, a media report said. “The war is over but Sri Lanka’s workforce is sitting on a fast-ticking time bomb,” the Sunday Times […]
Sri Lanka policy rates unchanged; credit growth to slow: CB
July 08, 2011 (LBO) – Sri Lanka’s central bank held its policy rate at which excess money is withdrawn from the market at 7.0 percent in July saying credit growth was slowing and inflation would ease further. In June 12-month inflation fell to 7.1 percent from 8.1 percent in May, measured by the widely watched […]
Sri Lanka stocks close weaker
July 08, 2011 (LBO) – Sri Lanka stocks closed closed weaker Friday, ending three days of gains with Vallibel One, which began trading, was the most actively traded stock, brokers said. Orient Garments was also heavily traded, closing at 29.80 rupees, up 3.20 with 7.58 million shares done. The main All Share Price Index closed […]
China tops Sri Lanka loan commitments
July 07, 2011 (LBO) – China has committed 760 million US dollars of new loans in the first four month of 2011, topping Japan’s 413 million dollars in the same period, to reach top spot, official data showed. Sri Lanka’s total capital budget is financed from loans, as the country runs a deficit on the […]
Sri Lankan capital among cheapest cities: survey
SYDNEY, July 7, 2011 (AFP) – The soaring Australian dollar has turned the country’s four biggest cities into some of the most expensive locations in the world, according to a new global survey published Thursday. Sydney and Melbourne are now the sixth and seventh most expensive cities on the planet, the Economist Intelligence Unit’s biennial […]
Sri Lanka stocks close up 0.5-pct
July 07, 2011 (LBO) – Sri Lanka stocks closed firmer Thursday with sharp gains in Lanka Orix Finance Company, which began trading, helping propel the benchmark index up by over a hundreds points in early trade, brokers said. The main All Share Price Index closed at 6,918.41, up 0.50 percent (34.35 points) while the more […]
Sri Lanka stocks end up 0.3-pct
July 06, 2011 (LBO) – Sri Lankan stocks closed higher for the second day running although turnover remained lower than usual with no big deals done, brokers said. The main All Share Price Index closed at 6,884.06, up 0.31 percent (21.27 points) while the more liquid Milanka index rose 0.28 percent (18.23 points) to close […]