Category: Economy and Markets
Sri Lankan stocks close 0.28-pct up on retail buying
Mar 08, 2010 (LBO) – Sri Lankan stocks closed up Monday as retail investors bought low value shares and selected high value stocks, brokers said. The All Share Price Index closed at 3,835.06, up 10.89 points, while the Milanka index of more liquid shares gained 0.14 percent (6.26 points) to close at 4,393.89. Turnover was […]
Sri Lanka relaxes some forex controls
Mar 08, 2010 (LBO) – Sri Lanka has relaxed several exchange controls relating to opening bank accounts abroad, forward forex cover and imports margin deposits and prepayments from March 11 in the first phase of a forex liberalization plan announced earlier in the year. “This is the first series of relaxations,” Central Bank governor Nivard […]
Sri Lanka shares end up 0.48-pct
Mar 05, 2010 (LBO) – Sri Lankan stocks closed closed firmer Friday with investors buying into hotels which are seen doing well given the upturn in tourist arrivals, but foreigners remained net sellers for the week, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
‘s foreign commercial debt more than doubles in 2009
Mar 05, 2010 (LBO) – Sri Lanka’s foreign commercial debt has risen dramatically in 2009 as lender confidence increased after a deal with the International Monetary Fund and the fiscal deficit expanded, official data shows. Sri Lanka’s total commercial debt, including defence loans accrued during a war with Tamil Tigers which ended in May 2009, […]
Sri Lanka to protect Colombo from floods with Chinese finance
Mar 05, 2010 (LBO) – Sri Lanka will build a flood protection system for parts of the capital Colombo with Chinese funding, a government minister said. Colombo suburbs of Kotte, Dehiwela-Mount Lavinia, Maharagama, Kesbewa and Moratuwa will be protected from storm water flooding by the project, minister Gamini Lakshman Peiris said. The 6,800 million rupees […]
Sri Lanka guarantees Rs50bn in new credit to state entities in 2009
Mar 04, 2010 (LBO) – Sri Lanka has guaranteed 52 billion rupees in credit to state entities in 2009 from state-run banks with loss making energy utilities and airlines getting tens of billions in new loan facilities, a finance ministry report said. State-run Ceylon Petroleum Corporation (CPC) has been supported with a 25 billion rupee […]
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 […]
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 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 […]
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 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 […]