Category: Economy and Markets
Sri Lanka govt rules out more protection, subsidies for business
Apr 02, 2010 (LBO) – The Sri Lankan government cannot give more protection and subsidies for local and export businesses who must instead be more productive and innovative, Treasury Secretary P B Jayasundera said. He told the National Chamber of Exporters the government has delivered peace by ending the Tamil Tiger war and begun building […]
Sri Lankan stocks close 0.59-pct up, blue chips gain
Apr 01, 2010 (LBO) – Sri Lankan stocks closed up Thursday boosted by price gains on index heavy blue chips, while John Keells Holdings (JKH) reached a billion dollars in market capitalization, brokers said. At the end of trade Thursday, JKH had reached a market cap of 114.9 billion rupees, brokers said. Dealers said the […]
Sri Lanka rating agency takes ex-central banker on board
Mar 31, 2010 (LBO) – Sri Lanka’ RAM Ratings said it had appointed Priyanthi Liyanage, a former central banker to its board as an independent director. She is a qualified banker with service at the Bank of Ceylon and also in the Sri Lanka Administrative Service. Liyanage has 37 years’ experience in the state sector […]
Sri Lankan stocks close 1.08-pct down
Mar 31, 2010 (LBO) – Sri Lankan stocks closed lower Wednesday after the price of Environmental Resources Investments, an index heavy firm, fell owing to heavy retail selling with an ex-rights issue expiring Tuesday, brokers said. Colombo’s All Share Price Index closed at 3,724.59, down 40.48 points, while the Milanka index of more liquid shares […]
Sri Lanka grey market dollar premium high
Mar 31, 2010 (LBO) – Foreign exchange premiums in Sri Lanka’s kerb or black market have widened in recent months to about three rupees above the bank currency rate from below the rate a few years ago. A US dollar note is being sold in the kerb market for around 117.25/50 rupees compared to a […]
Sri Lanka inflation slows to 6.3-pct in March
Mar 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6.3 percent in March 2010 from a year earlier, down from 6.9 percent in February with the index falling 1. 0 percent in the month, the government’s statistics office said. In the month of March the Colombo consumer price index fell 1.0 […]
Sri Lanka Combank shareholder meet canned over quorum
Mar 30, 2010 (LBO) – Sri Lanka’s listed Commercial Bank’s an annual general meeting of shareholders had not been held Tuesday due to the lack of a quorum, the Colombo Stock Exchange said. The meeting has been postponed to April 06. The shares due to be quoted ex-dividend from yesterday.
Sri Lankan stocks close 0.23-pct down
Mar 30, 2010 (LBO) – Sri Lankan stocks closed down Tuesday on weak buying interest while John Keells Holdings (JKH) came close to a billion US dollars in market capitalization brokers said. Colombo’s All Share Price Index closed at 3,765. 07, down 8.69 points, while the Milanka index of more liquid shares dipped 0.61 percent […]
Sri Lanka short term treasuries up
Mar 30, 2010 (LBO) – Sri Lanka short term Treasuries edged up slightly Wednesday but signs of further quantity easing emerged with only a part of a maturing tranche of bills being sold to real buyers. Three month bills edged up 7 basis points to 8.52 percent and the 6-month yield went up 05 basis […]
Sri Lanka economy grew 3.5-pct in 2009: statistics office
Mar 27, 2010 (LBO) – Sri Lanka’s economy grew 3.5 percent in 2009 pushed by growth in all three major sectors of economic activity, agriculture, industry and services, the Department of Census & Statistics (DCS) said in a statement. The Gross Domestic Product (GDP) growth was much slower than the six percent achieved in 2008, […]
Sri Lanka and Vietnam can build stronger economic links: envoy
HANOI, Mar 27, 2010 (LBO) – Sri Lankan businesses have opportunities to get into the service sector in fast growing Vietnam while benefiting from Vietnamese agricultural technology and trade, the island’s envoy to Hanoi said. The Sri Lanka mission here and Vietnamese authorities and business chambers are putting together a trade delegation to visit the […]
Sri Lanka gets foreign loans for tourism, roads
Mar 26, 2010 (LBO) – The World Bank has approved a loan of 18 million US dollars to Sri Lanka to develop sustainable tourism, international trade minister Gamini Peiris said. “These funds are to be used for infrastructure development,” Peiris said. “This is a matter of high priority for Sri Lanka now,” he told a […]