Category: Economy and Markets
Sri Lanka US embassy opens cultural link to Jaffna
Jan 27, 2011 (LBO) – Sri Lanka’s US embassy said it had set up an ‘American Corner’ in the northern Jaffna city, which will help people tap educational opportunities, knowledge and information technology. “An American Corner is much more than a small library where people can read books, magazines, or current newspapers,” Ambassador Patricia Butenis […]
Sri Lanka stocks close 0.4-pct lower
Jan 27, 2011(LBO) – Sri Lankan stocks closed down Thursday with poultry stocks running out of steam, while price banks also kept plantation stocks in check, brokers said. The All Share Price Index closed at 7,211.11, down 0.42 percent (-30.76 points) while the Milanka Price Index of more liquid stocks closed at 7,195.82, down 0.35 […]
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JOHANNESBURG, 2011 (AFP) – The global economic recovery is gaining traction but is “still at risk” because of eurozone debt worries and a lack of financial reform, the International Monetary Fund said on Tuesday. “Banks face significant funding needs now and over the next two years. In many advanced economies, we need to deal with […]
Sri Lanka military HQ to make way for hotels
January 26, 2011 (AFP) – The Sri Lankan government said Wednesday it was relocating the defence ministry and main army headquarters in Colombo to make way for a billion-dollar hotel project. An information department statement said the cabinet had decided to shift the military facilities from their prime, seafront location in the capital to the […]
Sri Lanka stocks up on poultry
Jan 26, 2011 (LBO) – Sri Lanka stocks closed 0.23 percent higher with poultry stocks being chased higher by punters, while some plantations stocks also moved up, while the broader index closed higher than an index of liquid stocks, brokers said. The All Share Price Index closed at 7,241.87, up 0.23 percent (6.63 points) while […]
Sri Lanka Treasuries yields flat
Jan 26, 2011 (LBO) – Sri Lanka’s Treasury bills yields were steady at Wednesday’s auction with the government raising 13. 2 billion rupees after offering to 11. 5 billion rupees of bills for roll-over. The 3-month yield was flat at 7.01 percent, the 6-month yield was up one basis point to 7. 10 percent and […]
Sri Lanka budget on track; land sales to boost revenues in 2011
Jan 24, 2011 (LBO) – Sri Lanka is to raise up to 500 million US dollars from land sales in 2011, a top official has said as November data indicated that the 2010 budget has been contained within targets. Treasury secretary P B Jayasundera was quoted as saying in Bloomberg, a newswire that Sri Lanka […]
Sri Lanka stocks close up 0.1-pct
Jan 24, 2011(LBO) – Sri Lankan stocks closed up 0. 10 percent Monday with active retail and high-net-worth individual trading in the banking and poultry sectors, brokers said. The All Share Price Index closed at 7,261. 37, up 0.10 percent (7.36 points) while the Milanka Price Index of more liquid stocks closed at 7,298. 57, […]
Sri Lanka retailer raises 5-year money through securitization
Jan 24, 2011 (LBO) – Sri Lanka’s NDB Investment Bank said it had raised a billion rupees for Richard Pieris Distributors, retail chain, for five years backed by cash flows due from the settlement of sales made through credit cards. In typical securitization cashflow generating assets are placed in a special trust or company (special […]
Sri Lanka literary festival lose stars, India denies visa block
Jan 22, 2011 (LBO) – Organizers of Sri Lanka’s Galle Literary Festival has defended its tradition of openness after two star writers pulled out of the event in the wake of protest from rights groups, while India denied that its visa rules hindered writers. “We are looking forward to welcoming writers and festival goers, to […]
Stars pull out of Sri Lanka book fair under pressure
JAIPUR, January 21, 2011 (AFP) – Nobel-winning Turkish author Orhan Pamuk and fellow writer Kiran Desai have pulled out of Sri Lanka’s main literary festival, Pamuk’s publisher said on Friday, following pressure from press freedom groups. Reporters Without Borders and a Sri Lankan rights group had targeted foreign writers in a campaign that called on […]
Sri Lanka stocks close up 0.8-pct
Jan 21, 2011(LBO) – Sri Lankan stocks closed up 0.85 percent Friday with active retail trading in the manufacturing sector, brokers said. The All Share Price Index closed at 7,254.01, up 0.85 percent (60.91 points) while the Milanka Price Index of more liquid stocks closed at 7,292.95, down 0.11 percent (7.73 points) according to stock […]