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Sri Lanka approves US$3.6bn investments in 2013
Mar 13, 2014 (LBO) – Sri Lanka has approved 3.6 billion US dollar equivalent in investment projects in 2013 including 1.3 billion US dollars from domestic investors, an official said. “Last year we have signed agreements worth about 2.3 billion US dollars (from investors) and on top of that we also signed 1.3 billon US […]
Sri Lanka Treasuries ease lower
Mar 12, 2014 (LBO) – Sri Lanka’s Treasuries yields edged lower at Wednesday’s auction with the 3-month yield down 02 basis points to 6.69 percent, the state debt office said.The 6-month yield fell 03 basis points to 6.85 percent and the 12-month yield fell 01 basis point to 7.06 percent. The state debt office said […]
Sri Lanka stocks end down 0.2-pct
Mar 12, 2014 (LBO) – Sri Lanka’s stocks close 0.19 percent lower Wednesday with leading food and beverage company losing ground, brokers said. SLT closed 70 cents lower at 44.00 rupees and Dialog Axiata closed flat at 9.00 rupees. Asian Hotels and Properties closed 1.00 rupee lower at 58.00 rupees and John Keells Holdings closed […]
Malaysia seeks more Sri Lankan visitors amid visa fee hike
Mar 12, 2014 (LBO) – Malaysia is seeking more visitors from Sri Lanka and an expansion of weekly flights, amid a ten-fold hike in visa fees that has made travel to the country more expensive.“But we are looking into public comments, agencies comments and also the service level of facilitator if we are to make […]
Sri Lanka needs near term moderate growth for stability: IMF output gap study
Mar 12, 2014 (LBO) – Sri Lanka has a potential gross domestic product growth of about 6.75 percent a year after the end of a civil war and near term moderate growth may help keep the economy stable, an International Monetary Fund Study has suggested. Proponents of the so-called ‘output gap’ believe that an economy […]
Sri Lanka stocks down 0.2-pct, rupee stronger
Mar 11, 2014 (LBO) – Sri Lanka’s stocks close 0.22 percent lower Tuesday with index heavy John Keells Holdings losing ground and the rupee was allowed to appreciate slightly by authorities, brokers and dealers said. The Colombo benchmark All Share Price Index closed 13.04 points lower at 5,944.57 down 0.22 percent. The S&P SL20 closed […]
Plastic Cash
Mar 11, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon says it has seen a sharp increase in payments by debit card and 400,000 new cards had been issued over the past year.Outstanding credit was 49.3 billion rupees up from 44.4 billion rupees in December. The bank claims to have the ‘largest active debit […]
Gallow Fright
COLOMBO, March 11, 2014 (AFP) – Sri Lanka’s new executioner panicked after seeing the country’s main gallows for the first time and has since gone AWOL leaving the authorities hanging, the top prison official said Tuesday.“But, with this chap leaving, we are now in a quandary,” Pallegama said. “In case the government resumes hanging, we […]
Sri Lanka capital to get wetland and beach parks
Mar 11, 2014 (LBO) – Wetland’s in Sri Lanka’s capital Colombo will be preserved and a educational wetland park is also being built, under a World Bank funded program to improve the city, an official said.Seneviratne also said the two ‘beach parks’ will be set up in the north and south Colombo. Rohan Seneviratne additional […]
Sri Lanka Lee Hedges in US$9mn office complex
Mar 11, 2015 (LBO) – Lee Hedges Plc, a unit of Sri Lanka’s Pioneer group of companies will build a 1.2 billion rupee, 15-floor office complex, the state investment promotion agency said. The project is implemented through Lee Hedges Investments Ltd, a unit of Lee Hedges Plc which is in the pioneer group. The building […]
Sri Lanka sells US$187mn in 3-year floating rate bonds
Mar 10, 2014 (LBO) – Sri Lanka has sold 187 million dollars of 3-year bonds at a yield of 400 basis points above the London Interbank Offered Rate, the state debt office said.The bonds are mostly bought by Colombo-based banks and investors who are allowed to hold foreign currency assets. On March 10, LIBOR was […]
Sri Lanka stocks close weaker
Mar 10, 2014 (LBO) – Sri Lanka’s stocks close 0.14 percent lower Monday with Sri Lanka Telecom and John Keells Holdings losing ground, brokers said. The Colombo benchmark All Share Price Index closed 8.45 points lower at 5,957.61 down 0.14 percent. The S&P SL20 closed 7.30 points higher at 3,252.29, up 0.22 percent. Turnover was […]