Category:
Sri Lanka exports up 7.0 percent, trade expands
Oct 28, 2010 (LBO) – Sri Lanka exports grew 7.0 percent to 760.3 million US dollars in August 2010, with industrial exports up 7. 8 percent to 574 million dollars though apparels continued to weaken, official data showed. Imports were up 36.9 percent to 8,669 million US dollars with consumer goods up 45.1 percent to […]
Sri Lanka to regulate OTC debt
Oct 27, 2010 (LBO) – Sri Lanka will regulate over-the-counter debt securities by specifying disclosure requirements, a regulatory official said, amid warnings that liquid markets and low interest rates were increasing risk taking. “We are very mindful of the need to regulate the unlisted securities market,” director of capital market development at the Securities and […]
Sri Lanka stocks close up 0.17-pct
Oct 27, 2010 (LBO) – Sri Lanka’s stocks closed up Wednesday, recovering from a dip in mid-morning trade, brokers said. There were 93 gainers and 88 losers, today. The Colombo All Share Index rose 0. 17 percent (10.84 points) to 6,557.00 points, while the Milanka Index of more liquid stocks dipped 0.23 percent (16.05 points) […]
Asset Quality
Oct 27, 2010 (LBO) – Sri Lanka’s Sampath Bank was given an ‘AA’ long term rating with a ‘stable’ outlook and ‘P1’ short term rating, on better risk management which improved asset quality and capital adequacy, RAM Ratings Lanka said. “In 2008, Sampath recruited several experienced personnel to fortify its internal systems and market position,” […]
Sri Lanka farmers seen reaping premium from mobile use
Oct 27, 2010 (LBO) – Use of mobile phones has helped Sri Lankan farmers get better prices for their produce and the technology can help reduce poverty, according to a new United Nations study, officials said. “There is an informational dimension to poverty – poor people need lots of information for their livelihoods such as […]
Mobile Momentum
Oct 27, 2010 (LBO) – Sri Lankan mobile phone operator Dialog Axiata made a net profit of 1.69 billion rupees in the September 2010 quarter compared with a loss of 439 million rupees a year ago, a stock exchange filing said. Sales rose 16.2 percent to 10.56 billion rupees over the period while administration costs […]
137 dead as Indonesia hit by tsunami, volcano
JAKARTA, October 27, 2010 (AFP) – At least 112 people were killed and hundreds remained missing in Indonesia Wednesday after a tsunami triggered by a powerful earthquake smashed into a remote island chain, washing away entire villages. Another 25 people have been killed after the eruption of the country’s most active volcano, as the force […]
Sri Lanka eases check points in capital
October 27, 2010 (AFP) – Sri Lanka said Wednesday it would begin dismantling a dozen permanent military check points in the capital which are a legacy of decades of ethnic conflict on the island nation. Two permanent road blocks on the southwestern edge of Colombo will be removed Wednesday and 10 other similar points will […]
Sri Lanka mulls IT use in tax reforms
Oct 27, 2010 (LBO) – A report on reforms to Sri Lanka’s complex national and regional taxes has recommended using information technology to make it easier to charge and pay taxes, a statement from the president’s office said. The report by the presidential commission on taxation was handed over to President Mahinda Rajapaksa Tuesday after […]
Sri Lanka stockbroker stirs up storm by calling for end to dissent: report
Oct 27, 2010 (LBO) – A call by a stockbroking firm to immediately identify and eliminate “traitors” who may question a “noble” government goal of making the “motherland” a financial hub of South Asia, has stirred up a storm, a media report said. Sri Lanka’s Daily FT business daily said the call was contained in […]
Sri Lanka seen slightly less corrupt
Oct 27, 2010 (LBO) – Sri Lanka has marginally improved its score in a global corruption index but governance is still so bad that it ranks among other countries seen to be very corrupt, a statement said. “The score indicates that these countries continue to have a serious corruption problem in their public sector.” In […]
Sri Lanka stocks close down 1.31-pct
Oct 26, 2010 (LBO) – Sri Lanka stocks closed down, dragged down by index heavy stocks like John Keells Holdings and Aitken Spence, brokers said. JKH closed at 295.90 rupees, down 6.10 (2.02 percent) while Aitken Spence closed at 182.20 rupees, down 0.50 (0.27 percent). Corrected – Sampath Bank share price There were 33 gainers […]