Category: Economy and Markets
Sri Lanka former war zone economy transformation seen
Aug 20, 2010 (LBO) – Northern Sri Lanka, where education was highly valued before war retarded its growth, has potential to be transformed into a ‘knowledge economy’ from its traditional agrarian cum fisheries base, a statement said. An open forum on ‘Pathways to Knowledge-based Development’ in northern Jaffna is being organised by the Point Pedro […]
Sri Lanka central bank cuts reverse repurchase rate
Aug 20, 2010 (LBO) – Sri Lanka’s Central Bank said it has cut its reverse repurchase rate by 50 basis points to nine percent with immediate effect, while keeping the repurchase rate steady at 7. 25 percent to support an economic recovery as inflation eased. “While inflationary pressures in the domestic economy have continued to […]
Sri Lankan stocks close down 0.10-pct
Aug 20, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from the weeks bull-run, while a large deal on Asian Alliance Insurance and high investor interest on John Keells Holdings (JKH) boosted turnover, brokers said. Commercial Bank closed at 191.00 rupees, down 60 cents (0.31 percent), Hatton National Bank closed […]
Sri Lanka Treasuries yields slip further
Aug 19, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped further at Wednesday’s auction, down by between 24 basis points to 36 basis points with one year yields slipping the most, results from the government debt office showed. The debt office sold 1.250 billion rupees in 3-month bills, 4.535 billion rupees in 6-month yields […]
Sri Lankan stocks close up 2.71-pct, pass 5,500 points mark
Aug 19, 2010 (LBO) – Sri Lankan stocks broke new ground yet again this week and passed 5,500 points, Thursday, from gains across the board on low volume trading, brokers said. Hemas Holdings closed at 40.00 rupees, up 30 cents (0.76 percent) and John Keells Holdings, an index heavy stock closed at 258.00 rupees, 1.00 […]
Sri Lankan stocks close up 2.19-pct, passes 5,400 points
Aug 18, 2010 (LBO) – Sri Lankan stocks closed at a new high and passed the 5,400 points mark Wednesday, from buying interest mostly on midcap and ‘penny’ stocks, while deals on Lion Brewery and Ceylon Investments boosted revenues, brokers said. In a private deal over 964,000 shares of John Keells Holdings changed hands at […]
‘s Mahindra group
Aug 18, 2010 (LBO) – India’s Mahindra and Mahindra group is planning to make investments in Sri Lanka initially in tourism and financial services and also increasing vehicles sales in the island, an official said. “Sri Lanka can provide a platform for large multinationals like us,” Anand Mahindra, Vice Chairman and Managing Director of the […]
Sri Lanka gets visit by ADB vice president
Aug 18, 2010 (LBO) – Asian Development Bank (ADB) said its Vice President Xiaoyu Zhao will visit Sri Lanka from 19-21 August for talks with the government and to visit ADB funded projects especially in the former northern war zone. The bank said in a statement Zhao will review ADB support for the reconstruction and […]
Sri Lankan stocks close up 2.21- pct
Aug 17, 2010 (LBO) – Sri Lankan stocks rallied for the third straight day, Tuesday, from renewed buying interest on midcap stocks despite low trading volumes, while retail interest on volatile ‘penny’ stocks continued, brokers said. The All Share Price Index closed at 5,305.80, was up 2.21 percent (114.50 points) while the Milanka index of […]
Sri Lankan stocks close up 1.48-pct
Aug 16, 2010 (LBO) – Sri Lankan stocks rallied for the second straight day, Monday, in low volume trading, while there was renewed retail buying interest on ‘penny’ shares, brokers said. The All Share Price Index closed at 5,191.30, was up 1.48 percent (75.51 points) Monday, while the Milanka index of more liquid stocks rose […]
Sri Lanka private investment mooted to free public money for social spending
Aug 13, 2010 (LBO) – Sri Lanka should consider more private investment in education and health in prosperous areas, freeing public money for investment in upgrading in social services in lagging regions, an official said. Anura Ekanayake, chairman of the Ceylon Chamber of Commerce, said there was a huge gap in the investments needed to […]
Sri Lankan shares close up 1.61-pct
Aug 13, 2010 (2010) – Sri Lankan shares closed higher Friday as midcap stocks rallied mostly on retail investor interest amidst low trading volumes, while Environmental Resources Investments (ERI) shares continued to fall, brokers said. The All Share Price Index closed at 5,115.79, was up 1.61 percent (80.94 points) Friday, while the Milanka index of […]