Category: Economy and Markets
Sri Lanka stocks extend losses
Oct 06, 2010 (LBO) – Sri Lanka’s stocks extended losses Tuesday falling 1. 84 percent on the wake of 1.3 percent fall a day earlier, in a bout of profit taking after Colombo briefly became the best performing stock in the world last week, brokers said. Commercial Bank fell 6.10 to 274.00 and Distilleries fell […]
Sri Lanka business caught napping by war-end: senior banker
Oct 05, 2010 (LBO ) – Sri Lanka’s large enterprises were caught napping by the end of a 30-year war, and smaller firms which required less planning were first off the mark, a senior banker has said. The central bank had said that by July 2010 loans from commercial banks to the private sector rose […]
Sri Lankan stocks close down 1.39-pct
Oct 05, 2010 (LBO) – Sri Lankan shares fell below 7,000 points Tuesday, as investors continued to take profits to re-invest in the market after a correction, while Nawaloka Hospitals and SMB Leasing were heavily traded, brokers said. The All Share Price Index closed at 6,991. 06, down 1.39 percent (98.63 points), while the more […]
‘s share of urban bond
Oct 05, 2010 (LBO) – Sri Lanka’s Urban Development Authority has allocated the bulk of a 10 billion rupee bond issue to larger investors to applied for more than 10 million rupees each, a statement said. Resident investors who applied for up to 10 million rupees will be allotted in full being given a total […]
” rating from RAM
Oct 04, 2010 (LBO) – Sri Lanka’s Lankem Ceylon, a strong player in the island’s agro chemicals market has been given a long term rating ‘A-‘ by RAM Ratings Lanka with a stable outlook. “The ratings reflect stable demand for agrochemicals and dominant market positions in most business lines; however the ratings are pressured by […]
Sri Lanka Telecom looks to raise US$125mn
Oct 04, 2010 (LBO) – Sri Lanka Telecom, the island’s largest fixed access operator, may raise 125 million US dollars from bonds to fund expansion if the terms are right, as business conditions in the island improve, an official said. “We want to raise 125 million US dollars,” SLT’s chief financial officer Shiron Gooneratne said. […]
Sri Lankan stocks close down 0.80-pct
Oct 04, 2010 (LBO) – Sri Lankan shares closed down on Monday, pulled down by falls in index heavy stocks, while big stakes of Hatton National Bank (HNB) changed hands in private deals pushing turnover over 12 billion rupees, brokers said. John Keells Holdings, an index heavy conglomerate closed at 349.00 rupees, down 5.50. The […]
Sri Lanka hopes to use war strategy on economy
Oct 02, 2010 (LBO) – The skills that enabled Sri Lanka win against Tamil separatists can be used to revive the economy and catch up on growth lost by 30 years of war, an architect of the military campaign said. One of the key weaknesses was lack of manpower to hold areas cleared of Tamil […]
Sri Lanka ratings can improve on public sector reforms, lower debt: S&P
Oct 01, 2010 (LBO) – Sri Lanka’s ratings can improve if the government uses its political strength to reform the public and economic policy which would allow public debt to come down, Standard & Poor’s, a rating agency has said. Following recent electoral victories the government no longer depended on the support of “minority extremist […]
Sri Lanka stocks world top performer: Bloomberg data
Oct 01, 2010 (LBO) – Sri Lanka’s stocks closed up 2. 1 percent Friday becoming the best performing market in the world, up 110.9 percent so far according to Bloomberg newswires data, beating Mongolia at 109.7 percent. Bangladesh was a distant third at 56.4 percent. Colombo’s benchmark All Share Price Index closed at 7,147, topping […]
Sri Lanka inflation accelerates to 5.8-pct in September
Sept 30, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5. 8 percent in September from a year earlier, accelerating from 5.0 percent in August, the government’s statistics office said. “What is important here is that we have not only been able to deal with inflation, but we have also been able […]
Sri Lanka stocks close up 0.97-pct
Sept 30, 2010 (LBO) – Sri Lankan shares edged higher Thursday, near the 7,000 point mark on the benchmark index once again, as falling interest rates pushed more money into shares, brokers said. The All Share Price Index closed at 6,997.22, up 0.97 percent (67.31 points) while the more liquid Milanka index rose 2.79 percent […]