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Sri Lanka stocks up 0.8-pct
July 11, 2013 (LBO) – Sri Lanka’s stocks closed up 0.77 percent Thursday showing gains for a second consecutive day with large cap stocks making gains, brokers said. Distilleries Company closed at 192.00 rupees up 3.00 rupees and Ceylon Tobacco Company closed at 997.30 rupees up 1.30 rupees. The benchmark Colombo All Share Index closed […]
Indians remember telegram heyday as service stops
NEW DELHI, July 11, 2013 (AFP) – Sixty-six years ago, Santosh Sharma saw her mother sell gold bangles to feed and clothe her family of six and then dispatch telegrams to her brothers urging them to leave newly-created Pakistan and gather in New Delhi. “Eventually the telegraph system had to face defeat.” “Come, we will […]
Sri Lanka has opportunities in export food processing: economist
July 11, 2013 (LBO) – Sri Lanka has to build capacity opportunities to be a processed food exporter, taking a cue from developments that occurred in East Asian nations such as Thailand and Vietnam, an Australia-based economist said. Prema-chandra Athukorale, professor of economics at Australian National University said in Thailand 23 percent of non-oil exports […]
Oil Services
July 11, 2013 (LBO) – Sri Lanka’s Hayleys Energy Services, a unit of listed Hayleys Plc said it has started providing services to international oil firms through a business process outsourcing arm.Already ConocPhillips and TAQA were clients of its BPO service, chief executive Chas Charles told an oil and gas exploration conference in Colombo. He […]
Sri Lanka Treasuries yields ease
July 10, 2013 (LBO) – Sri Lanka’s Treasuries yields edged 02 basis points across maturities with the 12-month yield falling to 10.64 percent at Wednesday’s auction, the state debt office said.The 3-month yield also fell 02 basis points to 8.63 percent and the 6-month yield fell 02 basis points to 9.68 percent, the state debt […]
Sri Lanka stocks up 0.6-pct, rupee steady
July 10, 2013 (LBO) – Sri Lanka’s stocks closed up 0.6 percent Wednesday ending a five day losing streak with large cap stocks making gains, and the rupee slipped marginally lower in the forward market brokers and dealers said. Pan Asia closed at 18.30 rupees down 10 cents, Union Bank of Colombo closed at 16.40 […]
‘s John Keells Holdings in 650mn mixed resort
July 10, 2013 (LBO) – Sri Lanka’s John Keells Holdings said it was shortly expecting state approval as a ‘strategic development project’ for a 650 million dollar mixed development project in Colombo.The project will be on land occupied by subsidiaries Ceylon Cold Stores, John Keells Plc, John Keells Properties (Pvt) Ltd and Waterfront Properties in […]
Sri Lanka negotiating free trade deals with China, Japan: Treasury sec
July 10, 2013 (LBO) – Sri Lanka is in talks with China and Japan to sign free trade deals which will give more opportunities for exporters, Treasury Secretary P B Jayasundera told an economic policy forum.Sri Lanka has started to export solar panels to Japan. Existing deals with India and Pakistan will also be deepened, […]
India beat Sri Lanka to join them in Tri-nations final
PORT OF SPAIN, July 9, 2013 (AFP) – India overcame Sri Lanka and the almost continuous threat of inclement weather on Tuesday at Queen’s Park Oval to advance to the final of the Tri-Nation Series two days later against the same opponents.In yet another match in Trinidad severely affected by rain, the World Cup and […]
Sri Lanka expects to keep 5.8-pct deficit target in 2013: Treasury Sec
July 10, 2013 (LBO) – Sri Lanka is expecting to maintain a 5.8 percent budget deficit target with better tax revenues on the second half of 2013 and continued moderation of current expenses, Treasury Secretary P B Jayasundera said.Sri Lanka’s revenues have been hurt by slowing imports, particularly motor vehicles, but other taxes including value […]
Sri Lanka vulnerable to drop in capital inflows: Fitch
Aug 10, 2013 (LBO) – Sri Lanka was vulnerable to a drop in global capital inflows having two ‘red indicators’ related to external financing, Fitch Ratings said in a report amid global bond and forex market volatility. Government debt maturities in 2013 as a share of gross domestic product was 16.8 percent for Sri Lanka, […]
IMF cuts 2013 global growth forecast
WASHINGTON, July 9, 2013 (AFP) – The International Monetary Fund on Tuesday cut its global economic growth forecast, citing new downside risks in key emerging-market economies and a deeper recession in the eurozone.The IMF projected the world’s economy would grow 3.1 percent in 2013, down from its April estimate of 3.3 percent. China and other […]