Category: Economy and Markets
Sri Lanka Central Bank releases latest economic, social statistics
June 04, 2010 (LBO) – The Central Bank of Sri Lanka said it has just released its annual publication ‘Economic and Social Statistics of Sri Lanka 2010’ with data on a wide range of economic and social developments. “The vast amount of data included in this publication will be of use for analysing trends in […]
Sri Lanka north-east ripe for tourism, agriculture
June 04, 2010 (LBO) – Sri Lanka’s Eastern and Northern provinces are ripe for investment in tourism, food processing and finance with infrastructure being built to improve connectivity, officials said. Sri Lanka’s Northern and Eastern provinces were devastated by a 30-year war which ended last year with the military wiping out the last remnants of […]
Sri Lankan stocks close up 0.74-pct, banks gain
June 03, 2010 (LBO) – Sri Lankan stocks closed at a new high Thursday, boosted by gains in financial sector shares while the Furkhan family sold remaining stakes in Confifi Hotels to Lanka Orix Leasing Company (LOLC), brokers said. The All Share Price Index (ASPI) closed at 4,332.29, up 31.90 points, while the Milanka index […]
Sri Lanka to remove tax on foreign currency note imports: minister
June 03, 2010 (LBO) – The Sri Lankan government is to remove taxes totaling up to 22 percent on import of foreign currency notes in an effort to curb black market trade, a senior minister said. “With these taxes removed, they (black market) will find it hard to compete with government approved institutions,” Rambukwella said […]
Sri Lanka T-bill yields steady
June 02, 2010 (LBO) – Sri Lanka’s Treasury bill yields were steady at this week’s auction with the 3-month yield edging 02 basis points lower to 8. 08 percent and the 12-month yield flat at 9. 26 percent, the government’s debt office said. The six month yield edged 01 basis point lower, to 8. 90 […]
Sri Lanka shares rise on interest in banks
June 02, 2010 (LBO) – Sri Lankan stocks closed higher Wednesday, with a big stake in Commercial Bank being sold to a foreign buyer and speculation high effective tax on banks could be cut following an import duty reduction, brokers said. Charith Kamaladasa of Lanka Securities said the foreign buying into Commercial Bank was “positive […]
Sri Lanka slashes vehicles import duty; lifts import surcharge
June 01, 2010 (LBO) – Sri Lanka has slashed an import excise duty on vehicles by 50 percent amid a pick up in the economy and demand for vehicles, lifted a general 15 percent surcharge on all imports and slashed duties on electronic items, an official said. In Sri Lanka prices of wearing apparel are […]
Sri Lanka motor stocks rise on import duty cut
June 01, 2010 (LBO) – Sri Lankan stocks recovered Tuesday, as investors bought motor and consumer products firms on news of import tax cuts on vehicles and electronic goods, despite some retail profit-taking on selected stocks, brokers said. Shares of Autodrome closed at 570, up 35.25 or seven percent. Singer Sri Lanka closed at 95.25, […]
Sri Lanka shares end 0.33-pct down
May 31, 2010 (LBO) – Sri Lankan stocks closed lower Monday, with trade driven by retail investors and foreigners largely staying out of the becalmed market, brokers said. The All Share Price Index closed at 4,237.16, down 0.33 percent (13.83 points) while the more liquid Milanka index fell 0. 08 percent (3.95 points) to close […]
” rating confirmed
May 31, 2010 (LBO) – Fitch Ratings said it had confirmed an ‘AA-(lka)’ rating on Sri Lanka’s Hayleys Ltd, on expected higher profitability of operating subsidiaries though its debt has increased due a recent purchase of a hotel. “Weak global economic conditions and currency fluctuations, especially with a weaker Euro, can exert pressure on the […]
” in new twist to defend state excesses
PARIS, May 30, 2010 (AFP) – As European governments rush to cut budget deficits with draconian austerity measures, experts are warning that the fallout could mean a shutdown in Europe’s tentative economic recovery. The IMF’s chief economist, Olivier Blanchard, has said there is “a risk… of austerity zeal in some countries under pressure from the […]
Sri Lanka inflation slows to 5.3-pct in May
May 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5.3 percent in May 2010 from a year earlier, down from 5.8 percent in April, the third straight monthly fall, the government statistics office said. The 12-month moving average, which has been on the rise since March, rose to 3.6 percent from […]