Category: Economy and Markets
Sri Lankan shares close flat
Jan 11, 2010 (LBO) – Sri Lankan shares closed flat Monday as investors continued to bet on hotel, property and plantation stocks while retailers took profits on selected blue chip companies, brokers said. Balangoda Plantations closed at 25.75 rupees, up 75 cents, Bogawantalawa Tea Estates closed at 40.75 rupees, up 1.50, Horana Plantations closed at […]
Sri Lanka president promises state worker salary hike
Jan 11, 2009 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has promised a 2,500 rupee a month salary hike to state workers, from the next budget due in April, the government’s information office said. In Sri Lanka people outside the state have to bear most of the burden of handouts Sri Lanka’s people have to […]
Sri Lanka water supply expansion contract to Chinese firm
Jan 10, 2010 (LBO) – A contract to upgrade the water supply in Sri Lanka’s capital Colombo valued at 1,895 million rupees has been awarded to China Geo Engineering Corporation, the government’s information office said. China Geo will construct ground reservoirs at Maligakanda and Elie House, a water tower at Gothatuwa, a transmission lone from […]
Sri Lankan president woos Tamils on re-election trail
January 10, 2010 (AFP) – Sri Lanka’s president on Sunday took his re-election campaign to the Tamil heartland of Jaffna for his first visit to the peninsula since troops crushed separatist Tamil Tiger rebels in May. “There is no transparent basis for the release,” JVP spokesman Anura Kumara Dissanayake told reporters. “We want to know […]
Sri Lanka presidential hopeful plugs petroleum inflation theory: report
Jan 09, 2010 (LBO) – Sri Lanka’s opposition presidential candidate had promised to cut diesel prices in the hope that it would bring consumer prices down, media reports said, echoing the failed 2004 petroleum pricing policy that sent inflation rocketing up. Opposition common candidate retired military general Sarath Fonseka has promised to cut diesel by […]
Sri Lanka to export hi-tech sail cloth made by German firm: official
Jan 08, 2010 (LBO) – Sri Lanka will start exporting advanced technology sailcloth for yachts from a factory opened Friday by Dimension Polyant, a German firm, an official said. The firm says it uses technologies developed in aerospace and automotive industries to turn out sailcloth used in sails for racing yachts as well as other […]
Sri Lanka mortgage bank plans term debenture
Jan 08, 2010 (LBO) – Sri Lanka’s Housing Development and Finance Corporation (HDFC) is planning a medium term debenture to be sold during the first quarter of the year to cut funding costs, an official said. The debenture, which is yet to be valued, will be for a period of 5 to 7 years, Suresh […]
Sri Lanka shares close up 1.04-pct, property sector gains
Jan 08, 2010 (LBO) – Sri Lankan stocks edged up Friday as retailers chased mid-cap counters, while selected property development companies were heavily traded, brokers said. The All Share Price Index closed at 3,514.63, up 36.07 points while the more liquid Milanka index gained 0.95 percent (38.12 points) to close at 4,039.36. Turnover was 929.6 […]
Sri Lanka private citizen pension fund promised real returns
Jan 07, 2009 (LBO) – Sri Lanka’s largest state-managed pension fund, made out of forced savings of private citizens, will be given returns above inflation an official said, amid rising concerns over real losses made in recent years. “We will establish a sound risk-return profile to establish a positive real rate of return over the […]
Sri Lanka refugees gets emergency help
June 09, 2010 (LBO) – A refugee resettlement program backed by a 65 million US dollar World Bank emergency credit will begin this month, reaching over 100,000 people in Sri Lanka’s north, the government said. But the government has now re-settled most of them. “The project is to support for re-settlement and the re-establishment of […]
Sri Lanka stocks fall on profit-taking
Jan 07, 2010 (LBO) – Sri Lankan shares ended slightly lower Thursday as profit taking interrupted the steady rise in the bourse which was Asia’s best performing last year, brokers and analysts said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index closed […]
Sri Lanka long term Treasuries holders can earn fee income: CB Governor
Jan 07, 2009 (LBO) – Sri Lanka’s central bank will borrow Treasuries from long term fund for money market operations, giving pension and insurance firms a chance to make more fee income, Governor Nivard Cabraal said. By late 2009 the Central Bank ran out of Treasury bills, though the stock rose during December towards 30 […]