Category: Economy and Markets
Sri Lanka appoints heads to state entities
May 14, 2010 (LBO) – The chairman of Sri Lanka’s largest bank, state-run Bank of Ceylon Gamini Wickramasinghe has been re-appointed amid a series of changes made to boards of state institutions following general elections in April. Wickramasinghe is head of Informatics, an information technology group and has a masters degree in systems analysis from […]
‘re to blame, says Sangakkara after Sri Lanka T20 exit
GROS ISLET, May 13, 2010 (AFP) – Sri Lanka captain Kumar Sangakkara said the team had no-one else to blame but themselves after a seven-wicket World Twenty20 semi-final loss to England here on Thursday. Last year’s losing finalists were all but out of the game after being restricted to 128 for six, having lost their […]
Sri Lankan stocks close up 0.23-pct, hotels gain
May 14, 2010 (LBO) – Sri Lankan shares closed higher Friday as investors continued to bet on midcap stocks with keen interest on hotel sector shares, while price gains on selected high value shares pushed Milanka index up, brokers said. The All Share Price Index closed at 4,252.44, up 0.23 percent (9.77 points) while the […]
Sri Lanka to re-assess foreign investment strategy
May 13, 2010 (LBO) – Sri Lanka’s investment promotion agency will re-assess its strategy following the end of a long drawn out separatist war with plans for a stronger focus to attract investments from the United States and Europe, officials said. The Board of Investment of Sri Lanka now has a five-year corporate plan. But […]
India pushing free trade deal with Sri Lanka: report
May 13, 2010 (LBO) – India’s is keen to push head with a trade and services liberalization deal with Sri Lanka which was scuttled by protectionist forces in the island on the brink of signing, a media report said. There is already an Indo-Lanka Free Trade Arrangement which had liberalized a range of traded goods […]
Sri Lanka Bank of Ceylon to sell 5-year bonds
May 13, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon will sell 5. 0 billion rupees of 5-year bonds in June with fixed and floating rate coupon which will be listed in Colombo Stock Exchange. The Colombo Stock Exchange said 50 million debentures of 100 rupees and subscriptions will open on June 01, the […]
Sri Lankan stocks close 0.31-pct up, midcaps gain
May 13, 2010 (LBO) – Sri Lankan shares closed higher Thursday as retail investors bet on selected midcap stocks expecting the market to regain momentum in the coming weeks, brokers said. The All Share Price Index closed at 4,242.67, up 0.31 percent (13.27 points) while the Milanka index of more liquid stocks rose 0.68 percent […]
” in demand
May 12, 2010 (LBO) – Sri Lankan shares closed higher Wednesday as retailers booked profits and re-invested in small-cap companies or ‘penny stocks’ as cheap shares are known, while Nawaloka and Galadari Hotel shares were heavily traded, brokers said. Commercial Bank of Ceylon closed flat at 242. 00 rupees, Hatton National Bank closed at 233.00 […]
Sri Lanka sees US$500mn coming in to leisure
May 12, 2010 (LBO) – Sri Lanka’s state investment promotion agency is processing almost 500 million dollars of new deals mainly into leisure and is planning two investments zones in the former war-torn north of the island, officials said. Kulasekara said the end of the war had opened up two-thirds of the country’s beach areas […]
Sri Lanka Treasuries yields fall
May 12, 2010 (LBO) – Sri Lanka Treasuries yields fell at Wednesday’s auction though not all maturing bills were sold to real buyers, the government’s debt office, which is a unit of the Central Bank said. The 3-month yield fell to 06 basis points to 8.18 percent, the 6-month yield fell 09 basis points to […]
Sri Lanka shares becalmed
May 11, 2010 (LBO) – Sri Lankan stocks closed flat Tuesday with the market around all-time high levels and investors searching for shares with low prices compared with earnings, brokers said. The All Share Price Index closed at 4,215. 22, down 0.16 percent (6.82 points) while the more liquid Milanka index rose 0.02 percent (0.83 […]
‘s big spenders on the backfoot after trillion dollar rescue
BRUSSELS, May 10, 2010 (AFP) – Europe and the IMF gave a major boost to world markets Monday with a trillion-dollar war chest to ease fears of a new recession, but governments faced pressure to clean up their fiscal houses. Some 440 billion euros would come from eurozone nations and 60 billion euros from the […]