Category: Economy and Markets
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 […]
Sri Lanka central bank on sell side of peg
June 06, 2011 (LBO) – Sri Lanka’s central bank has been on the sell side of its dollar peg for two months in a row, selling more than 250 million US dollars to maintain the exchange rate, official data show. In May the Central Bank sold 130. 15 million US dollars to forex markets on […]
Sri Lanka shares end down 0.7-pct
June 06, 2011 (LBO) – Sri Lankan shares ended lower Monday with trade dominated by the acquisition of a stake in Panasian Power, a mini hydro firm, by Emagewize, brokers said. The main All Share Price Index closed at 7,355.43, down 0.68 percent (50.59 points) while the more liquid Milanka index came down 0.26 percent […]
Sri Lanka skipper Dilshan defies England
LONDON, June 4, 2011 (AFP) – Sri Lanka captain Tillakaratne Dilshan led from the front with an unbeaten century as the tourists fought back against England on the second day of the second Test at Lord’s here Saturday. At stumps, Sri Lanka were 231 for one, 255 runs behind England’s first innings 486. Dilshan, who […]
Sri Lanka shares end up 0.4-pct
June 03, 2011 (LBO) – Sri Lankan shares ended higher after four days of falls with trade dominated once again by Colombo Land & Development Company, brokers said. The main All Share Price Index closed at 7,406.02, up 0.41 percent (30.12 points) while the more liquid Milanka index rose 0.11 percent (7.43 points) to close […]
Sri Lanka state withdraws controversial pension bill
June 03, 2011 (LBO) – Sri Lanka minister of labour has withdrawn a proposed law to build a third state controlled pension fund from the salaries of private sector workers, following protests that left at least one worker dead. Sri Lanka’s labour minister Gamini Lokuge has formally withdrawn the bill, the department of labour said […]
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June 03, 2011 (LBO) – Sri Lanka spent 5. 5 billion US dollars in its military campaign which crushed Tamil Tiger separatists, far less than what foreign powers spent on their current wars, central bank governor Nivard Cabraal said. “It was a vital investment not an expenditure like what many people would think it is,” […]
Sri Lanka deploys troops at free-trade zone
June 3, 2011 (AFP) – Sri Lanka deployed heavily-armed troops around the country’s main free-trade zone on Friday as tension mounted ahead of the weekend funeral of a factory worker shot dead by police, officials said. Soldiers were placed in the Katunayake zone, just next to the country’s only international airport where a range of […]
Sri Lanka shares end down 0.2-pct
June 02, 2011 (LBO) – Sri Lankan shares ended weaker Thursday with heavy trading in property firm Colombo Land & Development Company, which got a new board of directors and was the day’s highest gainer, brokers said. The main All Share Price Index closed at 7,375.90, down 0.15 percent (11.25 points) while the more liquid […]