Category: Economy and Markets
Sri Lank Treasuries yields steady
Mar 23, 2011 (LBO) – Yields on Sri Lanka’s Treasury bills were largely steady at the weekly auction with the government rolling over nine billion rupees in maturing bills, a statement said. The government’s debt office, a unit of the Central Bank, said the three-month yields edged up one basis point to 6.98 percent, six-month […]
Sri Lanka shares close down 0.18-pct
Mar 23, 2011 (LBO) – Sri Lankan shares ended mixed in choppy trade, with the indices going in different directions and Guardian Capital Partners dropping 83.15 percent, brokers said. Tea Smallholder Factories was the day’s top gainer, closing at 224. 50 rupees, up 54.50 rupees or 32 percent although only 200 shares were traded. Foreign […]
Sri Lanka stocks recover
Mar 22, 2011(LBO) – Sri Lankan stocks closed 0. 89 percent higher Tuesday following Monday’s losses with gains in selective stocks, brokers said. The All Share Price Index closed at 7,220. 26, up 0.89 percent (63.93 points) while the Milanka Price Index of more liquid stocks closed at 6,696. 79, up 0.93 percent (62.01 points), […]
Sri Lanka coal plant to cut oil imports
Mar 21, 2011 (LBO) – The commissioning of a coal power plant this week can reduce oil imports to Sri Lanka while also helping strengthen the finances of Ceylon Electricity Board, the state power utility. “That will reduce total oil bill,” Cabraal said. Oil is an important intermediate good for economic activity, fueling both transport […]
Quake, tsunami could cost Japan $235 billion: World Bank
SINGAPORE, March 21, 2011 (AFP) – The massive quake and tsunami of March 11 could cost Japan’s economy up to $235 billion, or 4.0 percent of output, but reconstruction will spur recovery later this year, the World Bank said Monday. “If history is any guide, real GDP growth will be negatively affected through mid-2011,” the […]
Sri Lanka shares close down 0.40-pct
Mar 21, 2011 (LBO) – Sri Lankan shares sank again Monday, extending Friday’s losses in choppy trade, with a large private deal in Central Finance, which was among top gainers, boosting turnover, brokers said. The All Share Price Index closed at 7,156. 33, down 0.40 percent (28.61 points) while the more liquid Milanka index fell […]
” energy subsidies end up in national debt
Mar 20, 2011 (LBO) – Several years of accumulated ‘off-budget’ energy subsidies have now come home to roost in the Sri Lanka’s national debt, laying bare a tangled web of state energy price manipulation and budgeting. Sri Lanka’s Treasury, the agency that collects taxes from the people and also issues debt against future taxes collectable […]
Sri Lanka stocks close 1.1-pct lower
Mar 18, 2011(LBO) – Sri Lankan stocks closed 1.1 percent lower Friday ending a two day rally as buyers in credit funded positions sold out, feeding a market consolidation downwards, brokers said. The All Share Price Index closed at 7,184.77, down 1.17 percent (84.82 points) while the Milanka Price Index of more liquid stocks closed […]
Sri Lanka equities could be buffeted by Japan fallout: brokerage
Mar 17, 2011 (LBO) – Sri Lanka’s economy may not be much affected by the devastation in Japan in the short term but a global fallout may impact commodity prices and capital flows, analysts and officials said. “The direct impact of the Japanese natural disaster on the Sri Lanka economy should be small,” Heraymila Securities […]
Sri Lanka investors get fast track to settle in Britain
Mar 17, 2011 (LBO) – New visa rules will allow investors and entrepreneurs who invest large sums of money or create jobs and “exceptionally talented migrants” to settle permanently in the UK faster, a statement said. The move is an effort to lure the wealthy and brainy from other countries like India to help the […]
Sri Lanka moves against child labour
Mar 17, 2011 (LBO) – The Sri Lankan government plans to allocate more funds to a campaign to eliminate the worst forms of child labour by 2016, a statement said. “The funds will be used to train duty bearers, raise awareness and promote behavioural change amongst communities vulnerable to the worst forms of child labour.” […]
Sri Lanka stocks close 2.1-pct higher
Mar 17, 2011(LBO) – Sri Lankan stocks closed 2. 16 percent higher Thursday, rebounding for a second consecutive day after three days of losses with gains seen across the board, brokers said. Piramal Glass closed at 11.40, up 0.50 cents with 2.6 million shares traded. The All Share Price Index closed at 7,269. 59, up […]