Category: Economy and Markets
Sri Lanka Hayleys group stake changes hands
June 10, 2008 (LBO) – A six percent stake in Sri Lanka’s Hayleys group owned by Carson and Cumberbatch controlled companies was bought by businessman Dhammika Perera on the Colombo stock exchange Tuesday, brokers said. The Ceylon Investments Company sold a stake in Hayleys amounting to 1,822,632 shares while Ceylon Guardian Investment Trust sold 2,164,358 […]
Sri Lankan shares slip further
June 09, 2008 (LBO) – Sri Lankan shares ended weaker Monday on thin trading as weak sentiment continued with investors worried about high inflation and interest rates and lower company earnings, brokers said. Price losers outnumbered gainers 76 to 39, Bartleet Mallory Stockbrokers said.The All Share Price Index lost 0.28 percent (6.94 points) to end […]
” cannot be taken in isolation: economists
June 7, 2008 (LBO) – Sri Lanka should have a holistic approach to avert the threat of the household food security of the vulnerable groups due to the prevailing food crisis, officials and economists have said. A global commodity bubble – fired by money printing in reserve currency countries in particular – has brought higher […]
Sri Lankan stocks weaken further due to lacklustre buying
June 06, 2008 (LBO) – Sri Lanka stocks weakened by 0.68 percent during Friday’s trading adding to the week-long losing streak at the Colombo Stock Exchange.Dialog Telekom lost 25 cents to close at 13.50 rupees while John Keells Holdings closed 50 cents lower at 114.50. The All Share Price Index dropped 0.68 percent (16.88 points) […]
Sri Lanka gets World Bank loan to rebuild in conflict areas
June 06, 2008 (LBO) – The World Bank plans to give Sri Lanka a loan of 75.6 million dollars mainly to rebuild the homes of people in the war-ravaged north and east, the lending agency said in statement. Technical assistance will also be provided under the program to help meet the long term housing needs […]
” 9.6-pct in May
June 05, 2008 (LBO) – Sri Lanka’s central bank said its ‘core inflation’ index from which a number of items such as food had been dropped was 9.6 percent in May 2008 against ‘headline’ inflation of 26.2 percent. In May the ‘core’ index had grown 0.3 percent against 0.9 percent in April. The moving average […]
Sri Lankan shares regain some ground, sentiment seen weak
June 05, 2008 (LBO) – Sri Lankan shares Thursday recovered some ground it lost the day before but on thin volumes with brokers saying the market is likely to remain weak given high inflation and interest rates. The All Share Price Index gained one percent (24.81 points) to end at 2,516.49 while the more liquid […]
Sri Lanka needs better transport, credit access to benefit from trade: study
June 04, 2008 (LBO) – Sri Lanka needs to improve access to markets through better transport infrastructure and access to credit to take advantage of opportunities presented by trade, a new study on the trade-poverty nexus in the island says. A major feature of the trade-poverty nexus in the island has been the uneven growth […]
Sri Lanka stocks drop 1.14 pct on earnings fears
June 4, 2008 (LBO) – Sri Lanka stocks shed over one percent Wednesday with investors taking profits with corporate earnings are seen under pressure from high inflation and interest rates, analysts said. The All Share Price Index (ASPI) closed 1.14 percent (28.75 points) lower at 2,491.68 points while the Milanka Index shed 1.77 percent (53.79 […]
Sri Lanka will not try forcible curbing of fuel use: minister
June 3, 2008 (LBO) – Sri Lanka will not try to impose laws on productive sectors of the economy to curb oil use, but is aiming to cut energy use in the state sector by about 20 percent, a government minister said. Siyambalapitiya said the trains, state buses and the military consumed substantial amounts of […]
Sri Lanka flood death toll rises; 250,000 displaced
June 3, 2008 (AFP) – The death toll from a week of torrential rain across Sri Lanka has risen to 17 and more than 253,000 people have been driven from their homes, the island’s disaster management centre said Tuesday.Sri Lanka depends on the monsoons for irrigation and power generation but they frequently cause loss of […]
Sri Lanka shares close weaker
June 3, 2008 (LBO) – Sri Lanka stocks closed 0.2 percent lower Tuesday amidst muted retail activity, traders said. The All Share Price Index (ASPI) closed 0.28 percent (6.98 points) lower at 2,520.43 points while the Milanka Index shed 0.20 percent (6.20 points) to close at 3,044.37. Total turnover was 187.9 million rupees and trading […]