Category:
Sri Lanka bank profits for farmer insurance
Nov 08, 2012 (LBO) – Sri Lankan banks will be asked to pay one percent of their profits to a national insurance fund to help farmers from next year, the island’s president Mahinda Rajapaksa said. Rajapaksa, who is also finance minister, said farmers who get a fertiliser subsidy will also be asked to contribute to […]
Sri Lanka raises state worker salaries, pensions
Nov 08, 2013 (LBO) – The Sri Lankan government plans to raise salaries of workers in the overstaffed state sector with the increases being staggered to limit inflationary pressures, according to the budget for 2013. President Mahinda Rajapaksa, who is also finance minister, told parliament he plans to increase allowances given to public servants by […]
Sri Lanka to keep budget deficit at 5.8-pct in 2013: President
Nov 08, 2012 (LBO) – Sri Lanka will keep the budget deficit at 5. 8 percent of gross domestic product in 2013, and a 2012 target of 6. 2 percent will be maintained despite falling import tax revenues, President Mahinda Rajapaksa said. President Rajapaksa who is also finance minister said national debt will be maintained […]
Sri Lanka growth expected to recover to 7.5-pct in 2013: Central Bank
Nov 08, 2012 (LBO) – Sri Lanka’s economy will expand 7. 5 percent in 2013 after slowing to 6. 8 percent in 2012 helped by a global recovery, monetary easing and better weather for agriculture, the Central Bank said. The budget deficit which was targeted at 6.2 percent of gross domestic product for 2012 had […]
Sri Lanka Treasuries yields up, rupee weaker
Nov 08, 2012 (LBO) – Sri Lanka’s Treasuries rose on longer maturities at Wednesday’s auction with the 12 month yield rising 09 basis points to 12.65 percent from a week earlier, data from the state debt office showed, while the rupee weakened. The 6-month yield rose 05 basis points to 12.02 percent. The 3-month yield […]
Sri Lanka stocks close 0.26 pct higher
November 07, 2012 (LBO) – Sri Lanka stocks closed 0.26 percent higher Wednesday on gains made in banking counters, brokers said. AVIVA NDB Insurance PLC slipped 4.50 rupees to close at 365.50 rupees down 1.22 percent. Colombo Dockyard PLC gained 1.40 rupees to close at 217.50 rupees up 0.65 percent. Dialog Axiata PLC closed flat […]
Top Lender
Nov 07, 2012 (LBO) – Sri Lanka’s Commercial Bank’s profits rose 11. 5 percent to 2.3 billion rupees in the September 2012 quarter from a year earlier, despite a steep rise in interest expenses, interim accounts showed. Performing loans grew 12 percent to 310 billion rupees in the nine months to September. Non-performing loans grew […]
Impeachment
Nov 07, 2012 (LBO) – Charges made public against Sri Lanka’s chief justice in an impeachment motion signed by more than a 100 ruling coalition parliamentarians include non declaration of assets and the purchase of a house. Sri Lanka’s ruling administration has been has been unhappy at several rulings of the supreme court in recent […]
Sri Lanka honours war-time investors
Nov 07, 2012 (LBO) – Sri Lanka is to recognize foreign companies which invested in the island during the height of two rebellions by leftwing youth and Tamil Tiger separatists that almost wrecked the economy. The ‘Global Commerce Excellence Awards 2012’ will recognize 150 international companies for their contribution to the national economy during the […]
Sri Lanka top court rules parts of budget bill unconstitutional
Nov 07, 2012 (LBO) – Sri Lanka’s Supreme Court has ruled that sections of an appropriation bill for 2013 which lays the basic outline for a budget for next year is unconstitutional. The ruling was read out as the administration launched an impeachment process against Sri Lanka’s chief justice. The Supreme Court also ruled against […]
Sri Lanka Bank of Ceylon to sell 16-pct 5-year bonds
Nov 06, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon is offering 5-year bonds with a fixed rate of up to 16.0 percent a year and a floating rate based on a premium to the six month Treasury bill yield, an offer document said. The securities have been rated AA(lka) by Fitch, a notch […]
Sri Lanka stocks close 0.31 pct higher
November 06, 2012 (LBO) – Sri Lanka stocks closed 0.31 percent higher Tuesday on the back of gains by John Keells Holdings. The Colombo All Share Index closed 17.28 points higher at 5,556.59 up 0.31 percent and the S & P SL 20 Index closed 7.23 points higher at 3012.98 up 0.24 percent. The day’s […]