Category: Economy and Markets
” law not to apply to export workers: state
May 30, 2011 (LBO) – A proposed controversial ‘pension’ bill to strengthen state control over forced retirement savings of private sector workers will not apply to export industrial zones, the government said as protesters and police were injured in clashes. Sri Lanka has had three armed uprisings in the past four decades where tens of […]
Sri Lanka shares becalmed
May 30, 2011 (LBO) – Sri Lankan shares ended flat Monday with active trade in newly listed The Multi Finance Company and Capital Development and Investment Company, brokers said. Singer Sri Lanka went up 16.30 rupees or 14.19 percent to end at 131.2 rupees. There were three crossings of a total of 530,000 shares all […]
” rise: report
May 29, 2011 (LBO) – Protests against a controversial attempt by the state to grab long term control of private sector workers’ retirement funds and deduct more money from their salaries are rising. The Sunday Times newspaper said more than 10,000 workers from Sri Lanka’s export processing zones took part in protests last week. Workers […]
Sri Lanka shares end up 0.5-pct
May 27, 2011 (LBO) – Sri Lankan shares closed firmer Friday with interest in financial stocks and two newly listed finance companies that soared on their debut making further gains, brokers said. The main All Share Price Index closed at 7,459.58, up 0.54 percent (40.14 points) while the more liquid Milanka index rose 0.15 percent […]
Sri Lanka newly listed finance firms soar on debut
May 26, 2011 (LBO) – Sri Lankan shares closed weaker Thursday with two newly listed finance companies soaring on their debut and a property company once again the most actively traded stock, brokers said. The main All Share Price Index closed at 7,419.44, down 0.37 percent (27.25 points) while the more liquid Milanka index fell […]
Sri Lanka bill yield steady
May 25, 2011 (LBO) – Sri Lanka’s 12-month Treasuries yield was flat at 7. 35 percent on Wednesday with, though the 3-month yields edged up marginally, at Wednesday’s auction, the government’s debt office said. The 3-month yield rose 02 basis points to 7.19 percent and the 3-month yield also rose 02 basis points to 7.09 […]
Sri Lanka shares up 0.2-pct
May 25, 2011 (LBO) – Sri Lankan shares closed firmer Wednesday with heavy trading once again in a property firm in which a big stake changed hands last week, brokers said. John Keells Holdings was also actively traded, closing at 300.10 rupees, up 40 cents with over 1.75 million shares changing hands. There were three […]
Sri Lanka shares becalmed
May 24, 2011 (LBO) – Sri Lankan shares closed barely changed Tuesday with heavy trading in a property firm in which a big stake changed hands last week, brokers said. The main All Share Price Index closed at 7,431.97, down 0.10 percent (7.18 points) while the more liquid Milanka index rose 0.06 percent (4.22 points) […]
Sri Lanka stock close 0.5-pct lower
May 23, 2011, 2011 (LBO) – Sri Lanka stocks closed weaker Monday, amid broad sell-off though heavy trading in Colombo Land shares boosted activity, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.54 percent to end at 7439.15 (40.48 points), while the Milanka index of liquid stocks dropped 0.39 percent (26.60 […]
Sri Lanka inflation to fall in May
May 23, 2011 (LBO) – Sri Lanka’s inflation is expected to come down in May following spike to 9. 8 percent in the 12-month to April and the central bank is comfortable with the current interest rates, Governor Nivard Cabraal said. Sri Lanka has a pegged exchange rate and foreign exchange market interventions generate rupees […]
Sri Lanka private sector urged to hire former combatants
May 23, 2011 (LBO) – An international terrorism expert has suggested Sri Lanka’s private sector should employ former Tamil Tiger separatist fighters who have been rehabilitated to help ensure they don’t return to violence. Sri Lanka’s 30-year ethnic war ended in May 2009 resulting in accelerated economic growth and a tourism boom. Gunaratna said many […]
A call against ad hoc state food restrictions in new bubble
BIG SKY, May 22, 2011 (AFP) – As high food prices push millions of people into poverty, major farming nations are resisting calls to impose trade restrictions and are committing to keep global markets open. APEC — a 21-member Asia-Pacific bloc that encompasses more than half of the world economy and includes the United States, […]