Category: Economy and Markets
Sri Lanka short-end Treasuries edge up
Feb 24, 2010 (LBO) – Sri Lanka’s three, six and 12 month Treasury bill yields edged up at Wednesday’s auction, the government’s debt office said. This was higher than the 12.5 billion rupees of maturing bills. The 3-month yield edged up 09 basis points to 8. 26 percent, the 6-month yield was up 06 basis […]
Sri Lanka to keep limit on foreign owned rupee debt for now
Feb 24, 2010 (LBO) – Sri Lanka will hold a 10 percent limit of foreign holdings of rupee Treasuries for the time being, Central Bank Governor Nivard Cabraal said, despite a widening fiscal deficit putting pressure on financial markets. Foreign investors were allowed to buy into bonds to the tune of about 30 million US […]
Sri Lankan stocks close 0.14-pct higher
Feb 24, 2010 (LBO) – Sri Lankan shares edged up Wednesday, boosted by renewed buying interest on plantation, construction and insurance stocks, brokers said. The All Share Price Index closed at 3,775. 51, up 5.11 points, while the Milanka index of more liquid shares gained 0.39 percent (16.78 points) to close at 4,331.98. Turnover was […]
Sri Lanka urged to be more transparent in business
Feb 23, 2010 (LBO) – The top US diplomat in Sri Lanka said the country should address the issue of greater transparency in business dealings to build investor confidence and attract more American investment. The challenge is to have transparency in business interactions and confidence in the legal framework that if a contract is signed […]
Sri Lankan shares close flat
Feb 23, 2010 (LBO) – Sri Lankan shares closed flat Tuesday as investors took profits in afternoon trade, while heavy buying interest on selected insurance companies pushed turnover up, brokers said. Commercial Bank of Ceylon closed at 197.75 rupees, up 4.00, Hatton National Bank closed flat at 176.00, Sampath Bank closed at 231.00 rupees, up […]
World Bank, Shakira join forces to aid young children
WASHINGTON, February 22, 2010 (AFP) – The World Bank and Grammy Award-winning singer Shakira teamed up Monday in a 300-million-dollar joint initiative aimed at helping young children in Latin America and the Caribbean. The Colombian artist is the founder of ALAS, a coalition of Latin American artists and business leaders that promotes early childhood development […]
Sri Lankan stocks up 0.13-pct, plantation shares gain
Feb 22, 2010 (LBO) – Sri Lankan stocks closed marginally higher Monday as investors took profit from high valued stocks and reinvested on strategic midcap shares with a high concentration on the plantation sector, brokers said. The All Share Price Index closed at 3,773. 55, up 4.74 points Monday, while the Milanka index of more […]
Sri Lanka business loans grows in December: data
Feb 22, 2010 (LBO) – Sri Lanka’s loans from commercial banks to private businesses expanded in December 2009 continuing a credit recovery that started in September, the latest official data shows. Central bank credit to government which fell to a low of 69. 9 billion rupees in September had risen to 109 billion rupees in […]
Sri Lanka needs more business freedom, says top entrepreneur
Feb 22, 2010 (LBO) – People who are quick witted can develop business opportunities in Sri Lanka by challenging state or private controls and by busting monopolies to bring in competition, a veteran entrepreneur has said. Wijesuriya’s latest acquisition is the Colombo Continental Hotel, the first five-star hotel that was built in Sri Lanka’s commercial […]
Sri Lanka former war zone seen as economic catalyst
Feb 22, 2010 (LBO) – The revival of Sri Lanka’s northern and eastern provinces can position them as economic catalysts for the country in the long term, its investment promotion chief Dhammika Perera said. It will provide opportunities for further policy reforms and private-public partnerships, Perera, chairman of the Board if Investment said in a […]
Sri Lanka to stop value added tax refunds to 1700 firms: report
Feb 21, 2010 (LBO) – Sri Lanka’s revenue office will stop refunding value added taxes (VAT) to 1725 firms on the grounds that they have not submitted documents on time, a media report said. A VAT regime works effectively when there is a flat rate (such as 20 percent) and all sectors are included. The […]
Sri Lankan stocks close 0.97-pct higher
Feb 19, 2010 (LBO) – Sri Lankan stocks closed up Friday as investors bought high value shares, while a private deal on trading company C W Mackie boosted turnover, brokers said. The All Share Price Index closed at 3,768. 81, up 36.04 points Friday, while the Milanka index of more liquid shares gained 1. 97 […]