Category: Economy and Markets
Sri Lanka state to pay extra to local contractors
Feb 04, 2010 (LBO) – Sri Lanka’s government will allow local contractors to bid 15 percent higher than foreign ones in state projects paid for with money raised from the people domestically, a government minister said. There has been some unhappiness among local contractors at projects funded by China which are built by Chinese contractors […]
Sri Lankan stocks end up, Asian Alliance stake sold
March 04, 2010 (LBO) – Sri Lankan stocks closed up Thursday and passed the 3,800 points mark as investors bought midcap and selected high value shares, while a big stake in Asian Alliance Insurance changed hands, brokers said. John Keells Holdings closed at 168.00 rupees, down 75 cents, and Distilleries Company of Sri Lanka closed […]
China leads Sri Lanka foreign lenders in 2009: fiscal report
Mar 03, 2010 (LBO) – China became the top donor to commit aid to Sri Lanka in 2009 lining up more than half the total with 1. 2 billion US dollars, though Japan was still slightly ahead in actual disbursements, a finance ministry report said. A pre-election fiscal report issued this week ahead of parliamentary […]
Sri Lankan stocks close 1.22-pct down
Mar 03, 2010 (LBO) – Sri Lankan stocks closed down Wednesday as retail investors took profits ahead of the general elections, while institutional investors took strategic stakes in high valued companies, brokers said. The All Share Price Index closed at 3,774.03, down 46.63 points while the Milanka index of more liquid shares fell 1.61 percent […]
Sri Lanka Treasuries yields up, amid monetization
Mar 03, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yields moved up 12 basis points to 8. 38 percent at Wednesday’s auction, but only a part of maturing bills was sold to real buyers, the government’s debt office said. By the first week of February the central bank’s Treasury bill stock had climbed to […]
Sri Lanka think tank highlights regional market prospects
March 02, 2010 (LBO) – Sri Lankan exporters have a virtually untapped opportunity in south Asia’s huge market that could compensate for difficulties in accessing traditional Western markets, a new study has said. “For Sri Lanka, south Asia is increasingly becoming important as a trading partner,” said Saman Kelegama, director of the Institute of Policy […]
Sri Lanka employers should have closer dialogue with workers: ILO
Mar 02, 2010 (LBO) – Businesses can ride out economic downturns easier by having stronger relations with their workers through collective bargaining; an approach used countries like in Germany, an International Labour Organization (ILO) official said. Curtis was speaking at the tripartite workshop on freedom of association in collective bargaining in Sri Lanka, Nepal, the […]
Sri Lanka overall budget deficit nears 10.3-pct of GDP in 2009
Mar 02, 2010 (LBO) – Sri Lanka’s budget deficit for 2009 has exceeded 10.2 percent of gross domestic product (GDP), with a planned 7.0 percent deficit derailed by weak revenues and sharply higher expenditure, a finance ministry report said. The pre-election fiscal report said the revenue deficit (the gap between total revenues and current expenditure) […]
Sri Lanka plans 8-pct budget deficit for 2010: fiscal report
Mar 02, 2010 (LBO) – Sri Lanka is planning a budget with a deficit of about eight percent of gross domestic product for 2010, a finance ministry report said, after provisional data said the 2009 gap has increased to over ten percent of the economy. In 2009 the government hoped to run a deficit of […]
Sri Lanka shares close 0.46-pct higher
Mar 01, 2010 (LBO) – Sri Lankan stocks closed up Monday as investors bought selected midcap and high value shares, brokers said. JKH closed at 168.75 rupees, up 50 cents, and Distilleries Company of Sri Lanka closed at 118.00 rupees, up 150. Commercial Bank of Ceylon closed at 197.00 rupees, down 75 cents, Hatton National […]
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March 01, 2010 (LBO) – Sri Lanka should not be given a “blank cheque” to revive its war-torn economy unless the political problem that generated the conflict is settled, an international non-governmental advocacy body has said. The ICG said donor governments and the UN should tie their aid to an end to impunity for human […]
Sri Lanka saltern seeks listing: report
Feb 28, 2010 (LBO) – A Sri Lankan saltern is planning to raise 200 million rupees from a public offering of equity to expand its capacity and build a new salt refinery, media reports said. Raigam Wayamaba Salterns Limited, was hoping to sell 80 million shares at 2.50 rupees by offering a 28.35 percent stake […]