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Foreign direct investment in to Sri Lanka doubles to US442mn in 1Q
May 29, 2014 (LBO) – Foreign direct investments into Sri Lanka doubled from a year earlier to 442 million US dollars in the first quarter of 2014, investment promotion minister Lakshman Abeywardena said.This year Sri Lanka is expecting 1.5 billion US dollars Minister Abeywardena said. He said 36 percent of the investments came into tourism, […]
Sri Lanka relaxes exchange controls, foreign investment in corporate debt
May 29, 2014 (LBO) – Sri Lanka has allowed foreign investors to buy debt securities of unlisted private companies also relaxed a series of exchange controls on letters of credit and education expenses. The liberalization will takes effect from May 28, the Central Banks said. The full statement from the Central Bank is reproduced below:- […]
Sri Lanka private consumption explains gap between GDP and reality: economist
May 29, 2014 (LBO) – Sri Lankan firms are experiencing a downturn, despite apparently high gross domestic product growth last year due to weak domestic consumption growth, an economist said.Amal Sanderatne, head of Frontier Research, an economics consultancy said their clients are asking why demand is weak when Sri Lanka registered the second highest economic […]
Sri Lanka long bond yields slightly up
May 28, 2014 (LBO) – Sri Lanka’s long bond yield rose slightly at an auction Tuesday according to data from the state debt office, through keeping broadly in line with secondary market rates. But a rise in Treasuries yields may indicate greater demand for private credit. Over the past year, Treasuries yields have fallen, mostly […]
Sri Lanka stocks close higher
May 28, 2014 (LBO) – Sri Lanka’s stocks closed in positive directions on Wednesday despite relatively low foreign participation on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 5.32 points higher at 6,272.76 up 0.08 percent. The S&P SL20 closed 3.40 points higher at 3,450.65, up 0.10 percent. Turnover was 451.16 […]
Credit Trend
May 28, 2014 (LBO) – Sri Lanka’s banks are lending money to industry and services, but the total loan stock is not growing fast because of contracting gold loans, Deputy Central Bank Governor Ananda Silva said. The Central Bank gave a partial credit guarantee to banks to lend against gold, which is expected to boost […]
Deport Debate
KUALA LUMPUR, May 28, 2014 (AFP) – The United Nations refugee agency and Human Rights Watch on Wednesday decried Malaysia’s deportation of two Sri Lankan refugees and an asylum-seeker accused of being Tamil Tiger separatists.“Malaysia’s forced return of these refugees to Sri Lanka is no free pass for torture and mistreatment,” Phil Robertson, the rights […]
Sri Lanka cricket captain: senior players like family
LONDON, May 27, 2014 (AFP) – Sri Lanka captain Angelo Mathews is banking on his side’s core of vastly experienced players to continue the tourists’ recovery in their one-day international series with England.Having lost a rain-affected opener at The Oval, Sri Lanka hit back in stunning style at Chester-le-Street to dismiss England for 99, with […]
‘s central bank does not want the rupee to appreciate quickly: Deputy Governor
May 28, 2014 (LBO) – Sri Lanka’s Central Bank did not want the rupee to appreciate quickly and had bought dollars heavily in the market to prevent an appreciation and help exporter profits, Deputy Governor, Ananda Silva said.Analysts say a flurry of dollar purchases in excess of inflows then pressure the exchange rate which may […]
Sri Lanka stocks close down 0.4-pct
May 27, 2014 (LBO) – Sri Lanka’s stocks closed down 0.41 percent with telco stocks losing ground despite continued low foreign participation, brokers said. Bukit Darah closed 14.00 rupees lower at 636.00 rupees and Lion Brewery Ceylon closed 17.80 rupees lower at 432.10 rupees. Asian Hotels and Properties closed 1.90 rupees lower at 70.20 rupees […]
Second Plan
May 27, 2014 (LBO) – Sri Lanka’s Central Bank, said it had given a liquidity facility to The Finance Company, and has also changed the board under a new restructuring plan. Chairman M P Jayawardena and C Rosa had said they were not available re-appointment, the statement said. The Finance was a member of Sri […]
‘s Aitken Spence March 2014 quarter profits up 12-pct
May 27, 2014 (LBO) – Profits at Sri Lanka’s Aitken Spence, which has interests in leisure, logistics and power rose 12 percent from a year earlier to 1.36 billion rupees in the March 2014 quarter helped by tourism, interim accounts show. The firm reported earnings of 3.36 rupees per share for the quarter. In the […]