Category: Economy and Markets
Sri Lanka tea exporter to expand in Russia
Mar 01, 2011 (LBO) – Riston Group, a big Sri Lankan tea exporter to Russia, plans to expand production there with a new factory and also penetrate other markets, company officials said. The firm intends to set up a factory with a floor area of 150,000 square feet this year, which will help to cut […]
Sri Lanka shares close 1.24-pct lower
Mar 01, 2011(LBO) – Sri Lanka stocks closed 1. 24 percent lower Tuesday with losses in the illiquid shares and some index heavy stocks, brokers said. The All Share Price Index closed at 7,701.19, down 1.24 percent (96.77 points) while the Milanka Price Index of more liquid stocks closed at 7,096. 56, down 0.62 percent […]
” as Asian workers land in Malta
VALLETTA, February 28, 2011 (AFP) – The UN refugee agency said a “humanitarian emergency” was underway as thousands fled Libya over the weekend in a mass exodus of foreigners from the strife-torn country by air, land and sea. The agency said almost 100,000 migrant workers, mostly from Egypt and Tunisia, had fled Libya in the […]
Sri Lanka inflation accelerates to 7.8-pct in February 2011
Feb 28, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated to 7.8 percent in the 12-months to February from a year earlier, up from 6. 9 percent in January the government’s statistics office said. Prices rose 1.2 percent in the month of February alone continuing a trend seen in September. In September […]
Sri Lanka loan plan to be revamped fast: World Bank
Feb 28, 2011 (LBO) – Sri Lanka’s World Bank office will accelerate its current programs start working on a new loan plan that will involve larger projects in fewer sectors at more market based rates, an official said. Elements of the current program dates back from before the end of a 30-year war in 2009. […]
Sri Lanka shares close up 1.1-pct
Feb 28, 2011(LBO) – Sri Lankan stocks closed 1.11 percent higher Monday with gains in illiquid stocks like Guardian Capital and Carson Cumberbatch and Company, brokers said. The Carsons group announced plans to buy minority stakes in its Malaysian oil palm units as part of a revamp to prepare for bigger investments and expansion outside […]
Sri Lanka among Asian countries struggling with capital inflows: IMF official
Feb 26, 2011 (LBO) – Sri Lanka is among Asian nations struggling with capital inflows driven by excessive money printed in advanced nations, raising the risks of high inflation and asset booms, a senior International Monetary Fund official said. “Sri Lanka is one country that has faced a surge in capital flows,” IMF deputy managing […]
Sri Lanka shares close 1.69-pct higher
Feb 25, 2011(LBO) – Sri Lankan stocks closed 1.69 percent higher Friday with gains in the investment trust and oil palm stocks, brokers said. The All Share Price Index closed at 7,711. 62, up 1.69 percent (128.20 points) while the Milanka Price Index of more liquid stocks closed at 7,169. 35, down 0.09 percent (6.71 […]
Sri Lanka joins chorus against Fed QE2
Feb 25, 2011 (LBO) – Sri Lanka joined the chorus of developing nations voicing concerns about the negative effects of Federal Reserve’s latest money printing exercise known as ‘quantity easing’ at an Asian monetary forum newly backed by China. Ultra loose US monetary policy has flooded developing countries that are pegged to the US dollar […]
Sri Lanka shares close 0.4-pct higher
Feb 24, 2011(LBO) – Sri Lankan stocks closed 0.46 percent up with retail investor interest seen in Piramal Glass Ceylon and oil palm firms, brokers said. The All Share Price Index closed at 7,583.42, up 0.46 percent (34.56 points) while the Milanka Price Index of more liquid stocks closed at 7,176.06, down 0.07 percent (05.07 […]
Sri Lanka urged by World Bank to control trans fat content in food
Feb 24, 2011 (LBO) – The World Bank has urged Sri Lanka bring laws to encourage good food processing practices and control trans fats content in food in the fight against rising non-communicable diseases (NCD) like heart attacks. “The ministry of industries (might have to get involved) in decisions about taxes on high sugar products […]
Sri Lanka Treasuries yields ease
Feb 23, 2011 (LBO) – Sri Lanka’s Treasuries yields eased at the weekly auction with the government rolling over 11 billion rupees in maturing bills, a statement said. The government sold 2.0 billion rupees of 3-month bills, 3.5 billion rupees of 6-month bills and 5.5 billion rupees of 12-month bills. The government’s debt office which […]