Category: Economy and Markets
Sri Lanka government 2009 budget bill to parliament on Oct 9
Aug 07, 2008 (LBO) – The appropriation bill for Sri Lanka’s budget for 2009 will be presented to parliament on October 9 for its first reading, the government said Thursday. The budget speech and second reading of the budget will be on November 6, a government spokesman said. The cabinet this week approved a proposal […]
Sri Lanka debt markets still to show full potential: expert
Aug 06, 2008 (LBO) – A veteran fixed income specialist says Sri Lanka’s debt market has still to show its full potential though it is 15 years since the first commercial paper was issued in the island. The first commercial paper was issued by John Keells Holdings and Aitken Spence, with a guarantee from state-run […]
Sri Lanka IOC unit gains on earnings outlook as oil prices fall
Aug 06, 2008 (LBO) – Stocks closed higher Wednesday with the indices lifted by gains in the Sri Lanka unit of Indian Oil Corp as lower crude oil prices improved its earnings outlook, brokers said. Dialog Telekom was flat at 13.50. All plantations shares ended stronger after the island’s tea exports and earnings hit record […]
Sri Lanka Hunters trade boosts stake of activist minority
Aug 05, 2008 (LBO) – The sale of a 5.0 percent stake in Sri Lanka’s land-rich Hunters has boosted the stakes of activist minority shareholders who have been battling the management over corporate governance issues, dealers said. The Carsons group, which held a 5 percent stake, sold out its 257,000 shares, and the Kuwaiti Al […]
” tax
Aug 05, 2008 (LBO) — Sri Lanka’s environmental protection office is hoping to collect up to 800 million rupees from a series of taxes charged on people who own cars, mobile phones, standard light bulbs and firms that use telecom transmission towers.The Central Environmental Authority (CEA) will also charge a two percent levy on top […]
Sri Lanka stocks end firmer
Aug 04, 2008 (LBO) – Sri Lankan stocks closed marginally higher Monday extending gains made last week but turnover was low. The All Share Price Index closed up 0.29 percent (7.15 points) at 2,480.60 while the Milanka rose 0.54 percent (15.93 points) to 2,969.46. Turnover was 194 million rupees. Lanka Cement rose 3.85 percent or […]
Sri Lanka stocks extend gains, choppy trading seen ahead
Aug 01, 2008 (LBO) – Sri Lankan stocks closed higher Friday ending the week in positive territory with heavy trading seen in John Keells Holdings, Associated Motorways and Vallibel Power Erathna.Activity could pick up with listed firms reporting quarterly results but brokers said trading was likely to remain volatile and the market could dip on […]
Sri Lanka Telecom share price gains after surprise profit jump
July 31, 2008 (LBO) – Sri Lanka Telecom’s share price rose Thursday after it reported June quarter profit nearly tripled to 1.5 billion rupees helped by its newly profitable mobile subsidiary.The stock was up 3.33 percent or 1.50 to 46.50 rupees around 1.00 p.m. on the Colombo stock exchange, after hitting a high of 47.50, […]
Sri Lanka stocks lifted by telecom gains
July 31, 2008 (LBO) – Sri Lankan stocks closed higher Thursday lifted by gains in telecom heavyweights after the dominant fixed line operator Sri Lanka Telecom (SLT) reported a surprise jump in June quarter profits The All Share Price Index gained 1.41 percent (34.27 points) to close at 2,463.41 while the more liquid Milanka went […]
Sri Lanka inflation slows to 26.6 percent in July
July 31, 2008 (LBO) – Sri Lanka consumer inflation in the capital Colombo slowed to 26.6 percent in July 2008 from a record 28.2 percent in June, the government’s statistics office said. High inflation has also made it more expensive for companies to borrow. In the month of July prices rose 0.2 percent compared with […]
Australia, Myanmar as SAARC observers: Sri Lanka official
July 30, 2008 (LBO) – Australia and Myanmar would be admitted as observers of the South Asian Association of Regional Corporation (SAARC) at this year’s sessions, now underway in the Sri Lankan capital Colombo, an official said.Sri Lanka’s additional foreign secretary Prasad Kariawasam told reporters after a meeting of the so-called ‘standing committee’ of foreign […]
South Asian nations side-step regional trade pact amid frictions
July 30, 2008 (AFP) – South Asian leaders meeting in Sri Lanka this weekend will discuss improving commercial ties but political and other tensions have dampened hopes a regional free trade pact will be implemented any time soon, economists say. “It took the European Union 50 years to get the euro out. We’re still just […]