Category: Economy and Markets
Sri Lanka stocks close down 1.4-pct
June 14, 2011 (LBO) – Sri Lanka stocks closed 1.4 percent lower with several high flying speculative stocks losing ground a newly listed Expolanka Holdings slipping below its offer price, dealers said. The main All Share Price Index closed at 7083. 05, down 1.44 percent (103.81 points) while the Milanka index of liquid stocks also […]
Sri Lanka stock close 0.6-pct lower
June 13, 2011 (LBO) – Sri Lanka stocks closed 0. 62 percent lower Monday enlivened by an initial public offering debut and speculative trading in Panasian Power, E-channeling, Blue Diamonds, dealers said. Blue Diamonds Jewellery Worldwide closed at 7.70 rupees up 1.10 rupees or 16.67 percent and 39 million shares changing hands. Meanwhile Blue Diamonds […]
Sri Lanka workers against new state-controlled pension fund: poll
June 12, 2011 (LBO) – A poll by Sri Lankan weekly newspaper has found that 82 percent of the respondents were against the creation of a state-controlled pension fund with private sector workers’ money. Sri Lanka’s ruling administration has temporarily withdrawn a bill to create the controversial pension fund, after protests left one worker dead […]
Sri Lanka Ports Authority loses US$10mn in 2010
June 12, 2011 (LBO) – State-run Sri Lanka Ports Authority has lost 1.1 billion rupees in 2010 partly due foreign exchange losses on Yen loans and a rising wage bill despite revenues rising 19 percent to 28.2 billion rupees, official data showed. The newspaper quoted SLPA additional managing director Norman Weerarathne as saying that 2,398 […]
Sri Lanka investments could rise with transparency: IMF
June 10, 2011 (LBO) – Sri Lanka may see a more investments, if perceptions about transparency are addressed and there is clarity on the role of the state in the economy, an International Monetary Fund mission said. “Increased transparency and improved governance could also bolster market confidence and lead to higher investment,” an IMF mission […]
Sri Lanka stock close 0.6-pct lower
June 10, 2011 (LBO) – Sri Lanka stocks closed 0. 6 percent lower Friday after seeing a spurt of speculative trading when Lanka Orix Leasing Company sold out of People’s Merchant Bank, a smaller leasing firm, brokers said. Stocks purchased by Jayaweera have been been subject to heavy speculative trading in recent weeks, though no […]
Sri Lanka state textile trader; no accounts
June 9, 2011 (LBO) – Lanka Salusala, a Sri Lankan state textile trading firm has not released audited accounts from 2004, had excess staff, unsettled loans and its performance could not be measured, a finance ministry report said. In a related development Sri Lanka’s Daily FT newspaper reported that the trade ministry has requested the […]
Sri Lanka bill yields steady
June 08, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at this week’s auction with the 3-month yield edging up 01 basis point to 7. 11 percent and the 12-month yield flat at 7.35 percent, the government’s debt office said. The 6-month yield rose 01 basis point to 7. 21 percent. The debt office […]
Sri Lanka stocks extend losses
June 08, 2011 (LBO) – Sri Lankan shares fell for the third straight day closing 0.5 percent lower Wednesday on retail profit taking and speculative trading dominated volume, brokers said. The main All Share Price Index closed at 7,257.70, down 0.51percent (36.84 points) while the Milanka Index of liquid ended the day down 0.24 percent […]
Sri Lanka raises US$2.1bn to rebuild north
June 07, 2011 (LBO) – Sri Lanka has raised 2. 1 billion US dollars to rebuild roads, rail, power, hostpital, water supply and help resettle refugees in the war torn Jaffna region in 2010, a finance ministry report said. These funding programmes have helped to resettle internally displaced people within a short period of time […]
Sri Lanka gets FDI US$236mn in first quarter
June 07, 2011 (LBO) – Sri Lanka has received 236 million US dollars in foreign direct investments in the first quarter of 2011, up 160 percent from a year earlier, led by tourism, the state investment promotion agency said. Hong Kong based Shangri-La group which bought land in Sri Lanka’s capital Colombo and Hambantota in […]
Sri Lankan shares end down 0.8-pct
June 07, 2011 (LBO) – Sri Lankan shares fell for the second straight day Tuesday with money drained from the market by forthcoming share issues and heavy trading again in mini hydro firm Panasian Power and in rarely traded Hunter & Co. Blue Diamonds Jewellery Worldwide fell 10 cents to close at 4.80 rupees with […]