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Sri Lanka will have to reverse de-liberalization for growth: Razeen Sally
Dec 20, 2013 (LBO) – Sri Lanka will have to reverse a recent trend of de-liberalization to spur growth to high levels and work towards greater macro-stability, which has been a chronic problem, a top international economist said. Protection for domestic business drives capital and factors of production towards inefficient tax arbitraging rent seeking businesses […]
LBR LBO Debrief – “Economic Outlook 2014” – 19th December 2013
Topic: A concise overview of what one can expect in global economy, key economies and in Sri Lankan economy. Date/Time: Tuesday, 19th December 2013 | 0900 – 1300 HRS Venue: Oak Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founding Publisher, Director | Lanka Business Online Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | General | debrief@lbo.lk Registration fee: Rs […]
” rating confirmed
Dec 19, 2013 (LBO) – Fitch Ratings has confirmed a ‘AAA(lka)’ rating of Distilleries Company of Sri Lanka with a stable outlook. Fitch said it had a strong market share of 60 percent for local alcohol production but was vulnerable to illicit products amid tax hikes. Potential debt funded acquisitions change the group’s risk profile. […]
Sri Lanka stocks close 0.9-pct higher
Dec 19, 2013 (LBO) – Sri Lanka stocks close up 0.9 percent Thursday with tobacco and diversified firms gaining, brokers said. Sri Lanka Telecom closed 30 cents higher at 37.00 rupees and Lanka Orix Leasing Company closed 80 cents lower at 75.50 rupees. NDB closed 3.50 rupees higher at 160.00 rupees and DFCC also closed […]
Lowered
Dec 19, 2013 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Union Bank of Colombo Plc by one notch to ‘BB(lka)’ on rising non-performing loans. The outlook was revised to stable from negative at the lower rating. “The downgrade reflects the deterioration in UB’s credit profile, in terms of its asset quality and capitalisation,” the […]
Sri Lanka exports up 27-pct in November: ministry
Dec 19, 2013 (LBO) – Sri Lanka’s exports rose 27 percent in November 2013 from a year earlier, with revenues during the first 11 months growing 5.1 percent, the commerce ministry said. In October 2012, Sri Lanka earned 827.6 million US dollars from exports and revenues for the 11 months were down 6.6 percent at […]
‘s hard-fought win
SHARJAH, December 18, 2013 (AFP) – Pakistan survived a late order scare from Sri Lanka to pull off an exciting 11-run win in the first one-day international in Sharjah on Wednesday, to go 1-0 up in the five-matchs series.Pakistan’s innings was built around a brilliant 122 from Mohammad Hafeez which saw them post an impressive […]
Emerging markets sees end of good times: Razeen Sally
Dec 19, 2013 (LBO) – Emerging markets are seeing the end of almost a decade of good times as the lack of new reforms to spur economic activity takes its toll, a top international economist said.Developing economies continued to grow following the end of a global financial crisis, bringing continuing high growth, Razeen Sally, a […]
Sri Lanka Treasuries yields plunge
Nov 18, 2013 (LBO) – Sri Lanka’s Treasuries yields plunged across maturities for the second week in a row, with the 12-month rate falling 62 basis points to 8.53 percent, data from the state debt office showed. The Central Bank has been intervening heavily in forex markets not allowing the rupee to appreciate in recent […]
Sri Lanka stocks close flat
Dec 18, 2013 (LBO) – Sri Lanka stocks close flat Wednesday with diversified stocks losing ground, brokers said. Asian Hotels and Properties closed flat at 62.40 rupees and Bukit Darah closed 5.50 rupees lower at 614.50 rupees. The Colombo benchmark All Share Price Index closed 0.12 points lower at 5,811.76, down 0.00 percent. The S&P […]
Transit Point
COLOMBO, December 17, 2013 (AFP) – Sri Lanka has recorded a sharp rise in drug busts, suggesting the island is becoming a transhipment hub for heroin in Asia, a government minister said Tuesday. In August, Sri Lanka customs found 260 kilos (572 pounds) of pure heroin in a container at the Colombo port. The cargo […]
”s Minor start building US$40mn hotel
Dec 18, 2013 (LBO) – Sri Lanka’s Hemas Holdings said it has started construction of a 40 million US dollar joint venture hotel with Thailand based Minor Hotel Group.It will operate under Minor group’s Anantara brand which is a 28-hotel chain in 8 countries with 15 more properties under development. The foundation stone for the […]