Category: Economy and Markets
Sri Lanka stocks up, blue chips in demand
Aug 02, 2010 (LBO) – Sri Lankan shares continued last week’s bull-run Monday, as investors continued to buy despite some strategic profit taking, while large private deals on selected blue chips boosted turnover, brokers said. The All Share Price Index closed at 5,178. 47, up 17.29 points, while the more liquid Milanka index gained 0. […]
Sri Lanka gets US help for business in former war zone
Aug 02, 2010 (LBO) – The United States aid agency has tied up with Sri Lankan businesses to set up clothing, construction and computing ventures that will create employment in the island’s north, a statement said. The US Agency for International Development (USAID) said US government support is expected to create 10,000 full-time jobs in […]
Sri Lanka to lean on banks to lend, cut taxes: official
July 30, 2010 (LBO) – The Sri Lankan government intends to reduce taxes further and put pressure on commercial banks to lend more to the private sector, Sarath Amunugama, Deputy Minister of Finance and Planning, said. With the island’s agriculture and services sectors expanding very fast, there is a need to pay much more attention […]
Sri Lanka inflation slows to 4.3-pct in July
July 30, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 4. 3 percent in July 2010 from a year earlier, down from 4. 8 percent in June, the fifth straight monthly fall, the government statistics office said.But the 12-month moving average, which is a lagging indicator spread over two years and has […]
Sri Lankan stocks close up 0.82-pct
July 30, 2010 (LBO) – Bullish Sri Lankan investors drove stock prices higher in record territory Friday continuing a buying spree with large deals on Environmental Resources Investments (ERI) group boosting revenue, brokers said. The All Share Price Index closed at 5,161.18, up 42.08 points, while the more liquid Milanka index gained 0.85 percent (49.33 […]
Sri Lanka informal Islamic financiers should prepare for regulation: official
July 29, 2010 (LBO) – Informal entities that have been operating as Islamic financiers in Sri Lanka will have to get their houses in order and become fully compliant with supervisory regulations ahead of a new law on deposit taking, an industry official said. “Some IFIs (Islamic financial institutions), because the owner is a well-known […]
Sri Lanka minister says China Exim Bank hard negotiators
July 29, 2010 (LBO) – China’s Export Import Bank, which has become a top funder of infrastructure in Sri Lanka, is a tough negotiator that goes through project proposals like a commercial bank while Europe is giving peanuts, a senior minister said. “China will give a 50 million dollar grant and they will not ask […]
Sri Lankan stocks close down 0.39-pct
July 29, 2010 (LBO) – Sri Lankan shares closed lower after hitting fresh highs in intra-day trade Thursday, as investors continued to buy amidst some profit taking, while retail investors chased after ‘penny’ stocks, brokers said. Hemas Holdings closed at 42.00 rupees, up 2.00 with 3.32 million shares traded, Aitken Spence closed flat at 1,900. […]
Sri Lanka Treasuries yields slip
July 28, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped between 02 to 09 basis points at Wednesday’s auction, despite the government raising fresh money, the debt office said. The debt office sold 1.624 billion rupees in 3-month bills, 5.325 billion in 6-month bills and 6.560 billion rupees in 12-month bills. The 3-month yield […]
Sri Lankan stocks close up 2.81-pct
July 28, 2010 (LBO) – Sri Lankan shares closed at a new high Wednesday, up 2. 81 percent from price appreciation on high value and midcap stocks on low volume trading, brokers said. The All Share Price Index closed at 5,139.42, up 140.37 points, while the more liquid Milanka index rose 2. 70 percent (152.81 […]
Sri Lanka Keells Food trims Indian costs, cuts losses
July 27, 2010 (LBO) – Sri Lanka’s Keells Foods Products said its lost 5. 0 million in the June 2010 quarter down from 8. 6 million rupees a year earlier and its Indian distribution unit was being wound down in favour of an agency to cut costs. Consolidated revenues rose 16 percent to 479. 6 […]
Sri Lanka bond auction yields slip
July 27, 2010 (LBO) – Sri Lanka’s 5-year bond yields slipped 28 basis points to 9.62 percent and 6-year bonds fell 22 basis points to 9.68 percent on Tuesday from an auction on July 15, results released by the government debt office showed. Four year bonds (01-04.2014) were traded around 9.48 and closed at closed […]