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Sri Lanka stocks close up 0.5-pct
Dec 06, 2013 (LBO) – Sri Lanka stocks closed greener Friday with diversified stocks sought by foreign investors, brokers said. NDB closed 50 cents lower at 159.50 rupees and Aitken Spence Hotel Holdings closed 50 cents lower at 63.00 rupees. Sampath Bank closed 70 cents lower at 166.00 rupees and DFCC closed flat at 122.00 […]
‘s Cinnamon Air expands network
Dec 06, 2013 (LBO) – Cinnamon Air, a domestic Sri Lanka based airline said it had added a sixth destination to its network with scheduled services started to Sigiriya.One way fare is listed at 199 US dollars with a 30 percent discount for travel in December. The flight from Sri Lanka’s international airport in Katunayake […]
Sri Lanka warned on negative effects of import substitution
Dec 06, 2013 (LBO) – Sri Lanka’s drive towards trade restrictions and import substitution may hurt the country, as autarky has consistently failed elsewhere, an International Monetary Fund official has warned.Mathai meanwhile warned that such policies will also ultimately hurt exports. “It will be much more efficient – rather than from an accounting sense trying […]
Sri Lanka stocks end lower
Dec 05, 2013 (LBO) – Sri Lanka stocks closed lower Thursday with diversified stocks losing ground despite strong foreign buying, brokers said. HNB closed flat at 143.50 rupees and Touchwood Investments closed 20 cents higher at 3.10 rupees. The Colombo benchmark All Share Price Index closed 2.34 points lower at 5,780.58, down 0.04 percent. The […]
IT Boost
Dec 05, 2013 (LBO) – Intel, a technology company, has teamed up with Sri Lanka’s state the Information and Communication Technology Agency of Sri Lanka to boost IT literacy in the island. ICTA chief executive Reshan Dewapura said an agreement was signed with Intel to provide free training of its ‘Easy Steps’ basic technology literacy […]
Sri Lanka asks Indonesia to cut wheat import tariff
Dec 05, 2013 (LBO) – Sri Lanka has asked Indonesia to relax a tariff on wheat flour imports, the commerce ministry said, in a move that can help make food cheaper for poorer Indonesians.Sri Lanka is the second biggest exporter of wheat flour to Indonesia estimated to have accounted for 30 percent of 400,000 tonnes […]
Sri Lanka Treasuries yields drop
Dec 04, 2013 (LBO) – Sri Lanka’s Treasuries yields dropped across maturities at Wednesday’s auction with the 12-month yield falling as much as 19 basis points, the state debt office said.The 3-month yield dropped 09 basis points to 7.97 percent and the 6-month yield dropped 15 basis points to 8.65 percent. The debt office offered […]
‘s North
Dec 04, 2013 (LBO) – A 24-bed hospital built with support from the United Sates has been opened in Palai, Northern Sri Lanka, the US Agency for International Development said. USAID said the Palai hospital is part of nine hospitals being funded by Civil Military Support Element (CMSE) from the US embassy, NGO Medical Teams […]
Sri Lanka exports surge 35-pct in October
Dec 04, 2013 (LBO) – Sri Lanka’s exports surged 35 percent in October 2013 from a year earlier to 1.04 billion US dollars driven by a recovery in US and European demand with apparel exports growing 46 percent to 436 million US dollars. Industrial exports rose 34 percent to 771 million US dollars. “Exports of […]
” by Fitch
Dec 03, 2013 (LBO) – A two billion rupee debt issue by Sri Lanka’s Abans Limited, which has interests in consumer durables has been rated ‘A-(lka)’, Fitch Ratings said.The rating is the same as the senior debt of the company. The full statement is reproduced below:- Fitch Rates Abans’s Debentures Final ‘A-(lka)’ 02 Dec 2013 […]
Sri Lanka stocks close lower
Dec 03, 2013 (LBO) – Sri Lanka stocks closed lower with diversified and oil stocks losing ground, brokers said. Aitken Spence closed 70 cents lower at 106.20 rupees and Aitken Spence Hotel Holdings closed flat at 66.70 rupees. Commercial Bank closed 40 cents lower at 115.60 rupees and HNB closed 20 cents higher at 143.50 […]
Sri Lanka gets US$1.2bn in FDI by November: provisional data
Dec 03, 2013 (LBO) – Sri Lanka is estimated to have received about 1. 2 billion US dollars of foreign direct investment by November 2013, investment promotions minister Lakshman Abeywardene said. For 2013 Sri Lanka targeted 2.0 billion US dollars of investments and it is not clear whether the target will be met. The data […]