Category: Economy and Markets
Sri Lanka stocks close down 0.76-pct
June 30, 2011 (LBO) – Sri Lanka stocks closed weaker Thursday with heavy trading in Aitken Spence Hotel Holdings and Distilleries Company bolstering turnover, brokers said. The main All Share Price Index closed at 6,825.94, down 0.76 percent (52.21 points) while the more liquid Milanka index fell 1.32 percent (84.29 points) to close at 6,301.02, […]
Sri Lanka to take-over land to build new city in Hambantota
June 30, 2011 (LBO) – Sri Lanka will take-over land in Hambantota in Southern Sri Lanka to build a new business and industrial city which will have housing, hotels, a theatre, schools, beach parks and, the government’s information office said. Sri Lanka’s cabinet of ministers had given the nod to give Urban Development Authority (UDA) […]
Sri Lanka inflation eases to 7.1-pct in June
June 30, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.1 percent by June 2011, down from 8. 2 percent in May, with prices falling 0. 2 percent during the month, the government’s statistics office said. The food category fell 1.0 percent during the month, but all other categories rose or were […]
Sri Lanka Treasuries yields flat
June 29, 2011 (LBO) – Sri Lanka’s Treasury bill yields were stead at this week’s auction with the 3-month yield flat at 7. 12 percent, data from the government’s debt office showed. The 6-month yield edged up 01 basis point to 7. 23 percent and the 12-month yield was flat at 7.35 percent. The debt […]
Sri Lanka to allow cross-border deals in Renminbi
June 29, 2011 (LBO) – Sri Lanka will allow international transactions to be conducted through banks in Renminbi, China’s currency, as trade and investment with the country grows, the island’s central bank said. China’s currency is pegged to the dollar, and has large US reserves, indicating that the currency is ultimately mostly backed by US […]
Sri Lankan public officials get Japanese scholarships
June 29, 2011 (LBO) – Talented young Sri Lankan public officials are to be sent to Japan for two-year Masters Degrees under Japanese government scholarships, an embassy statement said. So far over 11,000 Sri Lankan trainees have completed short and long-term training in Japan and in third countries through Japan’s assistance. Japan has given 208 […]
Sri Lanka stocks close 0.22-pct up
June 29, 2011 (LBO) – Sri Lanka stocks ended higher Wednesday with Orient Garments, the first apparel exporter to list, which opened trading, the most actively traded share and the day’s fourth highest gainer, brokers said. The main All Share Price Index closed at 6,878.15, up 0.22 percent (15.32 points) while the more liquid Milanka […]
Sri Lanka stocks down 0.46-pct
June 28, 2011 (LBO) – Sri Lankan stocks closed 0. 46 percent lower Tuesday amid profit-taking by Environmental Resources Investment (ERI) investors and month-end clearing of debtor’s positions, brokers said. Notable crossings (off-market negotiated deals) were 454,100 shares of Distilleries at 180 rupees each, 199,300 shares of Central Finance at 1400 rupees and 200,000 Aitken […]
Sri Lanka stocks becalmed
June 27, 2011 (LBO) – Sri Lankan stocks closed almost flat Monday with speculative trade in Environmental Resources Investment (formerly known as Walker & Greig) and connected firms, brokers said. Abans Financial Services (AFSL) share started trading Monday and closed at 79.80, up 70.30 rupees or 740 percent from their introductory price of 9.50 rupees. […]
Growing urban population strains Chinese cities
CHONGQING, June 26, 2011 (AFP) – A forest of buildings and cranes rises through thick fog above roads jammed with cars in a Chinese city the size of Austria and home to more than 32 million people. The southwestern megacity of Chongqing is bursting at the seams as authorities struggle to keep pace with its […]
Sri Lanka stocks up 0.3-pct
June 24, 2011 (LBO) – Sri Lankan stocks rebounded slightly Friday after four consecutive days of falls, mainly due to slight price increases of high market capitalization stocks, brokers said. Friday’s other notable crossing was 2,454,260 shares of Reefcomber Hotel at 80 rupees each. The All Share Price Index closed at 6,892.56, up 0.30 percent […]
Sri Lanka defence expenses upped
June 24, 2011 (LBO) – Sri Lanka has asked parliament permission to increase the money allocated for defence expenses for 2011 by 20 billion rupees to build a new headquarters for the military, a media report said. Some military facilities on prime land in Sri Lanka’s capital Colombo had been cleared for commercial development with […]