Category: Economy and Markets
Australia intercepts boat with 73 Sri Lankans: report
July 12, 2009 (LBO) – Australia has intercepted a boat with 73 Sri Lankan asylum seekers who have now been transferred to a detention centre in Christmas Island, a media report said. Authorities were now trying to find out why they made the voyage, the report said.The Age newspaper said many women and children were […]
Sri Lanka power output, diesel sales down in April
July 12, 2009 (LBO) – Sri Lanka’s electricity generation in April 2009 fell 2.2 percent to 773 million units (GigaWatt hours) from a year earlier, while diesel sales were down 10.7 percent, the latest government figures showed. Sri Lanka’s economic growth slowed to 1.5 percent in the first quarter of 2009 from 6.2 a year […]
Sri Lanka school dropouts doing great service to nation: minister
July 11, 2009 (LBO) – Dropouts from Sri Lanka’s education system are doing a greater service to the nation than those who have had a free education from the state education system, a senior minister said.Deputy finance minister Sarath Amunugama said more than a million Sri Lankans were working abroad sending nearly three billion dollars […]
Sri Lanka shares break slide
July 10, 2009 (LBO) – Sri Lankan shares ended slightly firmer Friday, ending eight consecutive trading days of losses, with local investors said to be disappointed by lack of foreign interest, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index rose […]
Sri Lanka says US assured no blocking of IMF loan
July 9, 2009 (LBO) – Sri Lanka has received an assurance from a US diplomat that its application for a loan from the International Monetary Fund (IMF)) would be viewed on economic factors alone, the island’s foreign ministry said. Yesterday the government presented more ‘supplementary estimates’ to parliament to increase spending. Officials say Sri Lanka […]
Sri Lankan stocks down 1.34-pct
July 09, 2009 (LBO) – Sri Lankan shares continued to slide Thursday as retail investors, key drivers of the market in the last six weeks, were forced to sell, brokers said. The benchmark Colombo All Share Price Index closed down 1.34 percent (31.74 points) to end at 2,344.48 on Thursday, while the Milanka index of […]
Sri Lankan stocks down 0.73-pct
July 08, 2009 (LBO) – Sri Lankan shares fell for the seventh straight trading day Wednesday as investors took defensive positions, while some of the plantation companies were pushed up by retailers, brokers said.Commercial Bank of Ceylon closed at 130.50 rupees, down 1.50, while Distilleries Company of Sri Lanka closed at 86.00 rupees, down 1.50. […]
Sri Lanka foreign aid pipeline narrows
July 8, 2009 (LBO) – Sri Lanka’s foreign aid pipeline from Western nations showed signs of narrowing amid deteriorating relations, though draw downs of previously committed aid continued apace, official data shows.Analysts say fresh aid commitments could arrest the trend later in the year.The power ministry said in June that China was giving an 891 […]
Sri Lanka state revenues down 9.6-pct, deficit up in first 4-months
July 8, 2009 (LBO) – Sri Lanka state revenues fell 9.6 percent while day-to-day expenditure zoomed 34.5 percent driving the revenue deficit up an unprecedented 528 percent to 118.2 billion rupees, the latest official data has revealed. The government had managed to increase capital expenditure by 9.0 percent to 74.6 billion rupees in the period. […]
Sri Lanka stocks favourite of investor Jim Rogers: report
July 7, 2009 (LBO) – Head of Rogers Holdings, Jim Rogers will only buy Sri Lankan stocks and he is getting out of dollar assets because the Federal Reserve is printing money and the US government is deficit spending, a media report said. Stocks in Sri Lanka are “the only equities” Rogers would “consider buying […]
Sri Lankan shares slide for sixth straight day
July 07, 2009 (LBO) – Sri Lankan stocks continued to tumble for the sixth straight trading day Tuesday as investors stayed on the sidelines waiting for the market to settle down from a post-war bull-run, brokers said. The benchmark Colombo All Share Price Index closed down 0.32 percent (7.78 points) to end at 2,392.11 while […]
India offers US$100mn for Sri Lankan Tamils
NEW DELHI, July 6, 2009 (AFP) – India on Monday offered 100 million dollars for the tens of thousands of Tamil civilians displaced by conflict in Sri Lanka. India is home to millions of Tamils in southern Tamil Nadu state, which is separated by a narrow strip of sea from Sri Lanka.“I propose to allocate […]