Category: Economy and Markets
Sri Lanka developing concept plan for Colombo
July 07, 2010 (LBO) – Sri Lanka is drawing up a concept plan to develop Colombo city, clear under-utilized area, reclaim land from the sea and open them for development by the private sector, officials said. Treasury secretary P B Jayasundera said plans for a ‘new city’ reclaimed out of the sea would be announced […]
Sri Lanka to push up investment levels with stability, low deficits: Treasury secretary
July 07, 2010 (LBO) – Sri Lanka will maintain public investment at around 6 percent of gross domestic product and will attempt to kindle private investment five times that by creating an environment for people to invest, an official said. “Government will invest in areas not very attractive to the private sector,” Treasury secretary P […]
Sri Lankan stocks close down 0.25-pct
July 06, 2010 (LBO) – Sri Lankan shares closed down Tuesday as retailers took defensive positions to minimize losses, while price gains on selected blue chip and midcap shares stopped the market from falling further, brokers said. The All Share Price Index closed at 4,547.18, down 11.30 points, while the more liquid Milanka index fell […]
Sri Lanka April foreign reserves at US$5.2bn
July 06, 2010 (LBO) – Sri Lanka’s official foreign reserves edged up to 5,515 million US dollars in April 2010 from 5,192 million US dollars while imports also grew steeply on the back of a recovery in economic activities. The trade account is only a part of the balance of payments dealing with goods. The […]
Sri Lankan stocks close down 0.77-pct
July 05, 2010 (LBO) – Sri Lankan stocks closed lower Monday as retailers took profit on banking stocks and penny stocks continued to be heavily traded brokers said. The All Share Price Index closed at 4,558.48, down 35.17 points, while the more liquid Milanka index fell 1.35 percent (70.53 points) to close at 5,140.28. Turnover […]
Sri Lanka trade gap widens in April amid economic recovery
July 05, 2010 (LBO) – Sri Lanka’s foreign trade volumes and a trade gap widened in April 2010 amid as an economic recovery with exports growing 24. 2 percent and imports growing 55. 8 percent, official data showed. Exports grew to 543.5 million US dollars with tea growing 61 percent to 93. 7 million US […]
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July 04, 2010 (LBO) – Sri Lanka’s main opposition poked fun at a budget for 2010 which had less ‘grasping government’ elements in it and was more affordable to the poor, by throwing the ruling coalition’s own slogans of yesteryear, back at it. In 2006, Sri Lanka’s Mahinda Chinthana platform justified a spending spree saying […]
Sri Lanka sovereign rating may be raised: report
July 03, 2010 (LBO) – Standard & Poor’s may upgrade Sri Lanka’s credit when it next reviews the island’s sovereign rating with the resumption of an International Monetary Fund loan and strong foreign reserves, a media report said. “The new budget and continued IMF program are positives,” Benard said. “Still, to have effect on the […]
Sri Lanka budget on track in April
July 02, 2010 (LBO) – Sri Lanka’s budget deficit in the first four months of 2010, though high, is in line with the gap for the full-year estimates presented in parliament last week, official data show. In the first four months revenues rose 26. 6 percent to 240.7 billion rupees from a year earlier. But […]
Sri Lankan stocks close down 0.32-pct
July 02, 2010 (LBO) – Sri Lankan stocks closed down Friday as profit- taking on selected high value shares pulled the market down, while retail investors continued to chase after ‘penny’ stocks, broker said. The All Share Price Index closed at 4,593.65, down 17.6 points, while the more liquid Milanka index fell 0.63 percent (38.4 […]
Sri Lanka to appoint rating advisor: report
July 01, 2010 (LBO) – Sri Lanka will appoint an international investment bank as a ‘rating advisor’ next month ahead of a US dollar denominated sovereign bond to be sold later in the year, a media report said. Bloomberg newswires said the size of the bond issue has not yet been decided but earlier reports […]
Sri Lanka Treasury yields flat
July 01, 2010 (LBO) – Sri Lanka’s Treasury yields were flat at Wednesday’s auction with the government selling 2. 0 billion more bills to raise fresh cash from the market, the government’s debt office said. The 3-month yield was 8.07 percent, the 6-month yield 8. 93 percent and thee 12-month yield 9.29 percent. The debt […]