Category: Economy and Markets
Sri Lankan shares fall on profit taking
Oct 07, 2009 (LBO) – Sri Lankan stocks ended a two-week bull-run Wednesday as retail investors took profits from a market that’s heading towards a correction, while John Keells Holdings (JKH) shares were heavily traded today, brokers said. The All Share Price Index closed down 0.35 percent (11.00 points) to end at 3,136.56 while the […]
Sri Lanka delays budget till polls over
Oct 07, 2009 (LBO) – Sri Lanka will delay its budget for next year, usually presented to parliament in November until national polls scheduled for the first quarter of 2010 is over, a government minister said.Deputy finance minister Ranjith Siyambalapitiya said general elections were likely before April and a mini budget or ‘vote on accocunt’ […]
Sri Lankan shares close up; stock values top Rs1,003bn
Oct 06, 2009 (LBO) – Sri Lankan stocks closed at a new all time high with stock values topping 1,000 billion rupees, and the market up 108.1 percent from the beginning of the year, according to Colombo Stock Exchange data. The All Share Price Index closed up 29.3 points to end at 3,124.87 while the […]
Australia first advanced economy to lift rates since crisis
SYDNEY, October 6, 2009 (AFP) – Australia on Tuesday became the first advanced economy to raise interest rates since the global financial crisis and promised more rises to come, boldly declaring the risk of recession over. The central bank announced a rise of 25 basis points to 3.25 percent, lifting rates off a 49-year low […]
Sri Lanka shares soar to record high, foreigners sell
Oct 05, 2009 (LBO) – Sri Lankan shares closed at a record high Monday with foreign investors being net sellers, brokers said. The All Share Price Index (ASPI) was up 2.66 percent (80.23 points) to end at 3,098.24 while the Milanka index of more liquid stocks gained 3.36 percent (113.91 points) to close at 3,508.77, […]
Sri Lanka economic report out: IPS
Oct 05, 2009 (LBO) – Sri Lanka’s Institute of Policy Studies has released its annual analysis of the country’s economy looking at the impact of a downturn in 2008 and policies needed for recovery, the think tank said. IPS’s annual report, Sri Lanka: State of the Economy 2009, is themed on ‘Global Economic Crisis: Issues, […]
Sri Lanka stocks hit new high
Sep 02, 2009 (LBO) – Sri Lankan shares closed at a record high Friday, with investors expecting the bull run to continue in the short term with periodical profit taking, while forthcoming quarterly results will point at the bourse’s long term direction, brokers said. Brokers said 18 million Seylan Merchant Bank non-voting shares changed hands. […]
Sri Lanka budget 2010 likely delayed
Oct 02, 2009 (LBO) – A decision on delaying Sri Lanka 2010 budget and seeking parliamentary approval for spending in the interim, would be made latest by next week, deputy finance minister Ranjith Siyambalapitiya said.But a senior official said a vote-on-account, or a mini budget for a shorter duration than a year could also presented […]
Sri Lanka accepts UN criticism of camps: minister
October 1, 2009 (AFP) – Sri Lanka on Thursday said it accepted much of the United Nations’ recent criticism over its handling of 250,000 Tamils detained in camps since the end of the island’s ethnic conflict six months ago. Human Rights Minister Mahinda Samarasinghe pledged the government would address recommendations made by Walter Kaelin, a […]
Sri Lanka plantations industry demands former benefits
Oct 01, 2009 (LBO) – Sri Lanka’s plantations industry is demanding the release of funds taken as an export tax and is asking to treated as exporters under the value added tax regime as they were before, to help cope with a recent wage hike to workers. “We’ve got to see where we can get […]
Sri Lankan shares close up 0.87-pct
Sep 30, 2009 (LBO) – Sri Lankan shares closed up Wednesday in an end-quarter rally with buyers chasing plantation sector stocks, and hotel stock extending gains, brokers said. The All Share Price Index was up 0.87 percent (25.39 points) to end at 2,938.64 while Milanka index liquid stocks gained 1.15 percent (37.47 points) to close […]
Sri Lanka inflation slows to 0.7 percent in September
Sept 30, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 0.7 percent in September from a year earlier, down from 0.9 percent in August, the government’s statistics office said.The monetary authority, which keeps the rupee pegged to the US dollar, has relaxed policy rates, but has been engaging in steady “quantity tightening” […]