Category: Economy and Markets
Sri Lanka flood damage $600 mln
February 13, 2011 (AFP) – The damage from monsoon flooding in Sri Lanka over the last six weeks is estimated at 0 million, a government minister said Sunday amid a slow response to an international appeal for help. The United Nations issued an appeal for $51 million to address immediate needs after the first round […]
Sri Lanka expects a billion dollars of FDI in 2011
Feb 11, 2011 (LBO) – Sri Lanka is expecting more than a billion US dollars in foreign direct investments in 2011 led by a booming leisure sector, after the end of a three decade war made the country more attractive, an official said. “Our expectations (for 2011) are well over a billion (US dollars),” Board […]
Sri Lanka to sell land reclaimed from sea: port official
Feb 11, 2011 (LBO) – Sri Lanka Ports Authority plans to reclaim and sell to private investors 340 acres of land off the capital Colombo where a new port is being built next to the existing one, an official said. “It will be for residential purposes, and offices and shopping along with eco-parks,” Keppetipola said. […]
Sri Lanka to renegotiate trade deal with India
Feb 11, 2011 (LBO) – Sri Lanka is to start talks again on a proposed trade agreement with India that had been opposed by protectionist interests in the island, according a government decision announced after the weekly cabinet meeting. But it has been opposed by some Sri Lankan industrial and professional groups. The government is […]
Sri Lanka shares close up 1.2-pct
Feb 11, 2011(LBO) – Sri Lankan stocks closed 1. 2 percent higher Friday with index heavy Dialog Axiata and Carson Cumberbatch stocks pushing the market up, brokers said. The All Share Price Index closed at 7,586.63, up 1.24 percent (93.01 points) while the Milanka Price Index of more liquid stocks closed at 7,259.81, up 0.41 […]
Bernanke under fire in Congress; blames China
WASHINGTON, February 10, 2011 (AFP) – Federal Reserve chairman Ben Bernanke fended off criticism that he is ignoring the risk of rising prices Wednesday, as he faced a hostile Republican-controlled panel in Congress. “We remain unwaveringly committed to price stability,” Bernanke told the House of Representatives budget committee, rejecting claims that rising prices for food […]
Sri Lanka shares close up 1.5-pct
Feb 10, 2011(LBO) – Sri Lankan stocks closed 1. 5 percent higher Thursday helped by gains in the banking stocks, brokers said. The All Share Price Index closed at 7,493.62, up 1.57 percent (116.18 points) while the Milanka Price Index of more liquid stocks closed at 7,230.35, up 0.37 percent (26.60 points) according to stock […]
Sri Lanka irrigation repair bill Rs5.0bn after floods
Feb 09, 2011 (LBO) – Rebuilding Sri Lanka’s irrigation infrastructure after recent record floods will cost 5. 0 billion rupees (45 million US dollars) to the tax payer, with most of the damage taken by canals, officials said. The head of Sri Lanka’s irrigation department GGA Godaliyadda said systems coming under his agency which oversees […]
Sri Lanka Treasuries yields steady
Feb 09, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with the government selling 13. 5 billion rupees in bills after offering 11. 0 billion rupees of paper for roll-over. The government’s debt office which is a unit of the Central Bank said the 3-month yield eased one basis point to […]
Sri Lanka stocks close lower
Feb 09, 2011(LBO) – Sri Lankan stocks closed 0.1 percent lower Wednesday amid profit taking, brokers said. The All Share Price Index closed at 7,377. 44, down 0.10 percent (7.60 points) while the Milanka Price Index of more liquid stocks closed at 7,203. 75, up 0.06 percent (4.66 points) according to stock exchange provisional figures. […]
Sri Lanka shares end up 0.05-pct
Feb 08, 2011(LBO) – Sri Lankan stocks closed up Tuesday with some profit taking seen in the morning trades and retail investors pushing the market up by investing in small cap stocks, brokers said. The All Share Price Index closed at 7,385.04, up 0.05 percent (3.94 points) while the Milanka Price Index of more liquid […]
Sri Lanka central bank holds interest rates
Feb 08, 2011 (LBO) – Sri Lanka’s central bank held key interest rates unchanged at its monthly monetary policy meeting Tuesday, saying inflation was stable and food prices likely to fall when supply returns to normal. The bank is ready to take “appropriate measures” to ward off any increase in prices of key commodity imports […]