Category: Economy and Markets
Sri Lankan stocks close 0.32-pct down on profit taking
May 04, 2010 (LBO) – Sri Lankan stocks closed down Tuesday as retail investors took profits ahead of a possible short term correction, while Horana Plantations, Nawaloka Hospitals and debutant Vallibel Finance were heavily traded, brokers said. Nawaloka Hospitals closed at 5. 50 rupees, up 60 cents with over 25 million shares traded, brokers said. […]
Sri Lanka tax reforms, economically sound budget awaited by IMF
May 04, 2010 (LBO) – The International Monetary Fund is looking for an economically sound budget for Sri Lanka this year with tax reforms to cut the deficit as it starts discussions to resume a deal with the island, an official said. Sri Lanka’s government got parliamentary approval to spend money until April amid two […]
Sri Lankan stocks close up 0.72-pct
May 03, 2010 (LBO) – Sri Lankan stocks passed 4,200 points Monday as price gains on selected high values shares pushed the market up, while Janashakthi Insurance and Commercial Bank trades helped turnover pass 3. 0 billion rupees, brokers said. Commercial Bank closed at 239.75 rupees, up 25 cents with 5.0 million shares traded, Hatton […]
Sri Lanka top economists, poll, back IMF fiscal restraint: report
May 02, 2010 (LBO) – Top Sri Lankan economists and a poll by an influential newspaper has backed the revival of a stalled International Monetary Fund deal to discipline government spending and preserve economic stability. A poll by Sri Lanka’s by the Business Times, a part of Sri Lanka’s The Sunday Times an influential English, […]
‘s Union Bank gets Malaysian, US capital, plans IPO
May 01, 2010 (LBO) – Union Bank (UB), has inked a deal to raise 1.5 billion rupees in capital from Genting Group, a Malaysian conglomerate and Shorecap, a US based banking fund and is hoping to go public within an year, an official said. “Genting is giving 1.0 billion (rupees), Shorecap 500 million rupees,” Union […]
First for Central Asia as ADB meets in Uzbekistan
TASHKENT, May 1, 2010 (AFP) – The Asian Development Bank (ADB) on Saturday opened its annual meeting in Uzbekistan, a first for Central Asia and a coup in the ex-Soviet state’s drive to be recognised as a regional economic power. Some 3,000 participants — including heads of state, central bank governors and finance ministers — […]
Sri Lankan stocks close 0.82-pct up
Apr 30, 2010 (LBO) – Sri Lankan stocks closed higher Friday as a few high value banking stocks pushed the market up, while some retail investors took profits on selected hotel and plantation shares on a shortened trading day, brokers said. Hotel Sigiriya closed at 60.75 rupees, down 2.25, Kandy Hotels Company 150.00 rupees, down […]
Sri Lanka inflation slows to 5.8-pct in April
Apr 30, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5. 8 percent in April 2010 from a year earlier, down from 6.3 percent in March, the second straight monthly fall, the government’s statistics office said. In the month of April the Colombo consumer price index fell 1.0 percent in absolute terms […]
Sri Lanka shares recover
Apr 29, 2010 (LBO) – Sri Lankan stocks recovered Thursday with widespread buying and a big chunk of shares in property firm Overseas Realty changing hands amid expecations of a real estate recovery, brokers said. The All Share Price Index closed at 4,155. 00, up 0.50 percent (20.54 points) while the more liquid Milanka index […]
Sri Lanka budget gap widens in January: data
Apr 29, 2010 (LBO) – Sri Lanka’s budget gap widened in January 2010 from a year earlier, with revenues rising modestly but unable to keep up with current spending, which accelerated almost three times faster, official data shows. The government raised 48.3 billion rupees in revenues in January up 5.2 percent from 2009, but still […]
Sri Lanka Overseas Realty expands amid a property market pick up
Apr 28, 2010 (LBO) – Sri Lankan developer Overseas Realty (Ceylon), a unit of Singapore’s Shing Kwan group said it was starting an expansion of a property project amid a pick up in the property market. Overseas Realty owns the twin tower World Trade Centre building in Sri Lanka’s capital which houses the Colombo Stock […]
Sri Lanka share rally interrupted by profit-taking
Apr 27, 2010 (LBO) – Sri Lankan stocks eased Tuesday, interrupting a near unbroken month-long rally, dragged down by a fall in banking stocks while the price of a plantations company with rubber shot up, brokers said. “Malwatte Valley Plantations rose significantly today given its close to 30 percent exposure to rubber,” said Tissera. Rubber […]