Category: Economy and Markets
Sri Lanka stocks close down 0.2-pct
Dec 15, 2010 (LBO) – Sri Lankan stocks closed down 0. 21 percent Thursday, with a dull day of trading in the market, brokers said. The All Share Price Index closed at 6,360. 34, down 0.21 percent (13.42 points) while the Milanka index of liquid stocks dipped 0. 17 percent (11.58 points) to close at […]
Sri Lanka to issue Rs5,000 note
Dec 16, 2010 (LBO) – Sri Lanka’s central bank plans to print and issue a 5,000-rupee note from next February, deputy governor K G G D Dheerasinghe said. The bank will stop printing a 2,000-rupee note when the new 5,000-rupee note enters money circulation to coincide with its 60th anniversary. The 2,000-rupee note was considered […]
Sri Lanka stocks close down 0.2-pct
Dec 15, 2010 (LBO) – Sri Lankan stocks closed down 0.19 percent Wednesday, dragged down by banking and index heavy stocks while shares of a gas distributor which debuted last week fell to their issue price, brokers said. The All Share Price Index closed at 6,373.76, down 0.19 percent (11.84 points) while the Milanka index […]
Sri Lanka Treasuries yields ease
Dec 15, 2010 (LBO) – Sri Lanka’s three-month and six-month Treasury bill yields fell slightly at Wednesday’s auction with the government rolling over 10,883 million rupees worth of bonds, the debt office said. The debt office said the auction for the re-issue of 11,000 million rupees of maturing Treasury bills was oversubscribed with bids amounting […]
Sri Lanka stocks close down 0.8-pc
Dec 14, 2010 (LBO) – Sri Lankan stocks closed down Tuesday with index heavy stocks like JKH and Dialog Axiata dragging the market down, brokers said. Turnover was 1.25 billion rupees. “Hardly any high-net-worth and institutional participation was seen in the market with some retail trading taking place,” Sahani De Silva of Bartleet Mallory Stockbrokers […]
Sri Lanka policy rates steady as inflation rise
Dec 14, 2010 (LBO) – Sri Lanka’s central bank said it was holding rates steady at 7. 25 and 9.00 percent as inflation rose and credit growth picked up amid a “sustained recovery” in economic activities. Sri Lanka has one of the highest policy rates in the world and this year’s inflation at 7.0 percent […]
Sri Lanka budget, reforms on track, inflation rising: IMF
Dec 14, 2010 (LBO) – Sri Lanka’s 2010 state spending is on track with a planned 8.0 percent of gross domestic product deficit, and a new budget for next year has reformed taxes, but inflation is rising, the International Monetary Fund said. The government also announced an intention to end sweeping tax holidays which if […]
Sri Lankan firms tap unemployed youth in lagging region
Dec 14, 2010 (LBO) – Sri Lankan companies seeking to fill vacancies held a job fair in the southern Wellawaya region, an economically neglected part of the island which lags behind other regions, a statement said. The Board of Investment said more than twenty six enterprises under the investment promotion agency took part in the […]
Sri Lanka stocks becalmed
Dec 13, 2010 (LBO) – Sri Lankan stocks closed flat Monday with more retail participation seen in the market, brokers said. The company’s voting shares closed at 24.30, down 1.10 rupees while the non-voting shares closed at 15.50, down 0.70 cents. The All Share Price Index closed at 6,436.82, up 0.06 percent (4.07 points) while […]
Sri Lanka said keen on public-private partnerships
Dec 13, 2010 (LBO) – Sri Lanka is keen on partnerships between the public and private sectors in developing its economy, the International Finance Corporation, which is supporting the initiative, said in a statement. Sri Lanka is actively considering options to increase private participation in development,” it quoted Sarath Amunugama, Sri Lanka’s Senior Minister of […]
Sri Lanka spice firm registers trademark over McDonalds objection: report
Dec 12, 2010 (LBO) – Lanka Spice Limited, a Sri Lankan-based spice firm has successfully registered its trademark ‘McCurrie’ over objection of McDonalds, a US-based fast food chain, a media report said. Lanka Spice has been in the market since 1982 The Sunday Times newspaper said. The report quoted Lanka Spice chairman Nalin Pathikirikorale as […]
Sri Lanka policy consistency seen needed for investor confidence
Dec 11, 2010 (LBO) – Sri Lanka should have consistent government policies to increase private sector confidence to invest more in the economy which in turn would boost economic growth, a senior chartered accountant said. A total of 57 awards were given out at the ceremony for finance, banking, hotel, health, manufacturing and insurance sectors. […]