Category: Economy and Markets
Rains delay Sri Lanka victory parade, 200,000 displaced
May 17, 2010 (AFP) – Heavy rains forced the indefinite postponement of Sri Lanka’s military parade marking the first anniversary of its defeat of Tamil rebels, officials said Monday as flash floods killed four people. The island’s two main monsoon seasons run from May to September and December to February. The victory celebrations scheduled for […]
Sri Lankan stocks close 0.36-pct up, Com Bank heavily traded
May 18, 2010 (LBO) – Sri Lankan shares bounced back Tuesday as price gains on index heavy high value stocks pushed the market up, while heavy institutional interest on Commercial Bank drove trading volumes up, brokers said. The All Share Price Index closed at 4,257.67, up 15.18 points, while the Milanka index of more liquid […]
Sri Lanka state revenues up in February: data
May 17, 2010 (LBO) – Sri Lanka’s state revenues picked up sharply in February 2010 to 108. 6 billion rupees in the first two months, up 17 percent from a year earlier, containing the budget deficit at around last year’s level, despite rising current spending, official data showed. Current expenses rose 7.2 percent to 181.3 […]
Sri Lanka stocks close 0.23-pct down
May 17, 2010 (LBO) – Sri Lankan shares closed down Monday as investors took profits to re-invest in those that offer higher value, while trading volumes were hit as retail investors stayed away owing to heavy rain which caused floods in the capital, brokers said. The All Share Price Index closed at 4,242. 49, down […]
Euro plunges to 19-month low in Asia
TOKYO, May 17, 2010 (AFP) – The euro slid to its lowest level since October 2008 in volatile Tokyo trade Monday as persistent fears over eurozone debt continued to pressure the single currency. The euro fell to as low as 1.2332 dollars in Tokyo trade from 1. 2358 in New York Friday, before recovering to […]
Sri Lanka appoints heads to state entities
May 14, 2010 (LBO) – The chairman of Sri Lanka’s largest bank, state-run Bank of Ceylon Gamini Wickramasinghe has been re-appointed amid a series of changes made to boards of state institutions following general elections in April. Wickramasinghe is head of Informatics, an information technology group and has a masters degree in systems analysis from […]
‘re to blame, says Sangakkara after Sri Lanka T20 exit
GROS ISLET, May 13, 2010 (AFP) – Sri Lanka captain Kumar Sangakkara said the team had no-one else to blame but themselves after a seven-wicket World Twenty20 semi-final loss to England here on Thursday. Last year’s losing finalists were all but out of the game after being restricted to 128 for six, having lost their […]
Sri Lankan stocks close up 0.23-pct, hotels gain
May 14, 2010 (LBO) – Sri Lankan shares closed higher Friday as investors continued to bet on midcap stocks with keen interest on hotel sector shares, while price gains on selected high value shares pushed Milanka index up, brokers said. The All Share Price Index closed at 4,252.44, up 0.23 percent (9.77 points) while the […]
Sri Lanka to re-assess foreign investment strategy
May 13, 2010 (LBO) – Sri Lanka’s investment promotion agency will re-assess its strategy following the end of a long drawn out separatist war with plans for a stronger focus to attract investments from the United States and Europe, officials said. The Board of Investment of Sri Lanka now has a five-year corporate plan. But […]
India pushing free trade deal with Sri Lanka: report
May 13, 2010 (LBO) – India’s is keen to push head with a trade and services liberalization deal with Sri Lanka which was scuttled by protectionist forces in the island on the brink of signing, a media report said. There is already an Indo-Lanka Free Trade Arrangement which had liberalized a range of traded goods […]
Sri Lankan stocks close 0.31-pct up, midcaps gain
May 13, 2010 (LBO) – Sri Lankan shares closed higher Thursday as retail investors bet on selected midcap stocks expecting the market to regain momentum in the coming weeks, brokers said. The All Share Price Index closed at 4,242.67, up 0.31 percent (13.27 points) while the Milanka index of more liquid stocks rose 0.68 percent […]
Sri Lanka Bank of Ceylon to sell 5-year bonds
May 13, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon will sell 5. 0 billion rupees of 5-year bonds in June with fixed and floating rate coupon which will be listed in Colombo Stock Exchange. The Colombo Stock Exchange said 50 million debentures of 100 rupees and subscriptions will open on June 01, the […]