Category: Economy and Markets
Sri Lankan stocks close 0.94-pct down, retailers sell
June 23, 2010 (LBO) – Sri Lankan stocks fell below 4,600 points Wednesday, as retail investors with weak holding capacity sold to minimize losses, while losses in selected index heavy shares also dragged down the market, brokers said. The All Share Price Index closed at 4,591. 17, down 43.56 points, while the Milanka index of […]
Sri Lankan stocks close 0.51-pct down on profit taking
June 22, 2010 (LBO) – Sri Lankan stocks closed down Tuesday as retail investors took profits while penny stocks continued to be heavily traded, brokers said. The All Share Price Index closed at 4,634.73, down 23.95 points, while the Milanka index of more liquid stocks fell 0. 67 percent (35.95 points) to close at 5,303.81. […]
Sri Lankan stocks close 0.25-pct up
June 22, 2010 (LBO) – Sri Lankan stocks closed higher Tuesday as price gains on selected midcap and small value shares pushed the market up on low volume trading, while penny stocks continued to be heavily traded, brokers said. Commercial Bank closed at 194.50 rupees, up 25 cents, Hatton National Bank closed at 292.00m rupees, […]
Sri Lanka sells USD278mn in bonds
June 21, 2010 (LBO) – Sri Lanka has sold 278 million US dollars in two and three year bonds at prices over 380 basis points above the 6-month London Interbank Offered Rate, rolling over 275 million US dollars of maturing debt. The government’s debt office said it sold 102 million US dollars of 3-year bonds […]
Hong Kong gold closes at record high
HONG KONG, June 21, 2010 (AFP) – Gold closed at a record high above 1,264 dollars an ounce in Hong Kong on Monday as the greenback weakened against Asian currencies after China’s announcement of a more flexible yuan. The precious metal ended at 1,264.50 US dollars an ounce. The main catalyst for the rally was […]
Sri Lanka state non-tax revenues up in first quarter
June 21, 2010 (LBO) – Sri Lanka has seen steep increase in non-tax incomes in the first quarter of 2010 which accounted for more than half the revenue gains made by the state, official data shows. State revenues increased by 26.3 percent in the first quarter to 182. 7 billion rupees with tax revenues gaining […]
Sri Lankan stocks close 1.11-pct up, foreign inflow
June 21, 2010 (LBO) – Sri Lankan stocks closed up Monday on the back of price gains on midcap and selected high value shares, while there was a foreign inflow of funds, brokers said. Nearly 17 million Dialog Telekom shares changed hands between 9.25 to 10.25 rupees, brokers said. Dialog Telekom, a unit of Axiata […]
Sri Lanka tuition ban will hurt poorer students: lawmaker
June 18, 2010 (LBO) – A state decision to ‘ban’ tuition classes in Sri Lanka on Sundays will hurt poor families most as richer people will still be able to bring individual private tutors to their homes, an opposition lawmaker has warned. Police have already started to ‘raid’ cheaper mass tuition classes in rural areas […]
Sri Lanka needs high gear government to drive economic engine: official
June 18, 2010 (LBO) – Sri Lankan private sector is the engine of growth and the government should embrace the Japanese example and formulate policies that would help people run their economic lives smoothly, a senior official said. “Private sector is the engine of growth and the public sector is the gear box,” Sunil Jayantha […]
Sri Lanka Central Bank governor in second term
June 17, 2010 (LBO) – Sri Lanka’s Central Bank governor Nivard Cabraal has been re-appointed for another six-year term, an official said. He has also kicked off a foreign exchange liberalization drive that will increase the economic freedoms of ordinary people. Cabraal became governor of the Central Bank of Sri Lanka in 2006 to complete […]
Sri Lanka gets EU aid for war-torn areas
June 17, 2010 (LBO) – The European Union has allocated 60 million euro (8.4 billion rupees) as aid to Sri Lanka mostly for the island’s north and east which were ravaged by war, a statement said. “The programme will mainly focus on medium-term assistance in the North and East of the country,” the statement from […]
Sri Lankan stocks close flat
June 17, 2010 (LBO) – Sri Lankan stocks closed flat Thursday with Dialog Telekom shares heavily traded, brokers said. Hatton National Bank closed at 294.00 rupees, down 1.00, Nations Trust Bank closed at 49. 75, down 75 cents, Sampath Bank closed at 336. 00 rupees, up 25 cents and Seylan Bank closed at 76.00 rupees, […]