Category:
Sri Lanka exports fall 15-pct in May, imports shrink
July 25, 2012 (LBO) – Sri Lanka external trade continued to contract in May with exports falling 15. 1 percent to 710.1 million US dollars and imports easing 6.4 percent to 1,575 million dollars, official data showed. The Central Bank said industrial exports fell 16. 2 percent to 636 million US dollars with apparel falling […]
‘s war torn image still hurting economic prospects: diplomat
July 25, 2012 (LBO) – Sri Lanka needs to improve its image overseas and promote a stable macroeconomic environment to help build bilateral trade links and attract more foreign investors, a Dutch diplomat said. Bas Van Noordenne, Netherland’s deputy head of mission in Sri Lanka told a business forum that people still associate Sri Lanka […]
Sri Lanka gets US$437mn in FDI up to May: Central Bank
July 25, 2012 (LBO) – Sri Lanka is estimated to have received about 437 million US dollars in foreign direct investments up to May 2012, while 187 million US dollars have flowed into stocks in the first half of the year, the Central Bank said. FDI is equity, loans from parents and re-investment by foreign […]
” call difficult: IMF rep
July 24, 2012 (LBO) – It is difficult to say whether Sri Lanka’s rupee is ‘overvalued’ and any specific level no longer matters because the exchange rate is now flexible, an International Monetary Fund’s official said. “There are models economists run to measure overvaluation of a currency,” IMF’s resident representative Koshy Mathai said. “Those models […]
Sri Lanka stock stocks fall 0.1-pct, rupee steady
July 24, 2012 (LBO) – Sri Lanka’s stocks fell 0.1 percent Tuesday with index heavy stocks losing ground but the rupee was steady in foreign exchange brokers and dealers said. The Colombo All Share Price Index closed at 4,874.36, -7.41pts and the S&P20 Index of large cap stocks fell 0.98 percent to close at 2,769 […]
Sri Lanka hopes to fix coal plant in three days: power ministry
July 23, 2012 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board is expecting to repair a coal power plant in three days which can spell an end to electricity rationing which started Tuesday, the power ministry said. The CEB started three hour power cuts from today, ending more than 10 years of power supply with […]
Sri Lanka to ration power for three hours
July 24, 2012 (LBO) – Sri Lanka will cut three hours of power, two hours and fifteen minutes during the daytime and 45 minutes during an evening peak demand period, the ministry of power said after a Chinese build coal plant broke down. Sri Lanka is having one of the driest years in more than […]
Sri Lanka rupee extends gains
July 23, 2012 (LBO) – Sri Lanka’s rupee rose to 130. 90/131.05 levels against the US dollar Monday extending earlier gains with inflows as monetary policy remained in favour of a stronger rupee, dealers said. Some inflows to bond markets were also not bought the monetary authority helping keep upward pressure on a rupee peg. […]
Sri Lanka stocks down 0.13 pct
July 23, 2012 (LBO) – Sri Lanka’s stocks fell 0.13 percent Monday, with large cap stocks losing ground, brokers said. The Colombo All Share Price Index fell 6.45 points to 4,881.77 and the S&P 20 Index of large cap stocks fell 0.24 percent (06.54 points) to 2761.90. The day’s turnover of 321 million rupees was […]
Sri Lanka bought leaf factory returns to profit
July 23, 2012 (LBO) – Tea Smallholder Factories Plc, a unit of Sri Lanka’s John Keells Holdings had posted 23. 9 million rupees in profits in the June 2012 quarter, turning around from a loss of 9. 1 million rupees a year earlier. The firm reported earnings of 80 cents a share for the quarter. […]
Sri Lanka state airline part repays fuel debts
July 23, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines had repaid a 100 million US dollars to settle dues to Ceylon Petroleum Corporation and is negotiating to settle an undisclosed balance amount, a media report said. “We’re negotiating with the CPC on the repayment in terms of pricing and credit terms and will arrive […]
Sri Lanka to have two hour power cuts
July, 23 2012 (LBO) – Sri Lanka will have two hour power cuts daily, the first in over a decade, following the outage of a 300 MegaWatt coal plant that generated about 20 percent of the daily energy needs of the country. Industry analysts say it could be run a so-called ‘merchant plant’ if the […]