Category: Economy and Markets
Sri Lanka rating agency takes ex-central banker on board
Mar 31, 2010 (LBO) – Sri Lanka’ RAM Ratings said it had appointed Priyanthi Liyanage, a former central banker to its board as an independent director. She is a qualified banker with service at the Bank of Ceylon and also in the Sri Lanka Administrative Service. Liyanage has 37 years’ experience in the state sector […]
Sri Lanka Combank shareholder meet canned over quorum
Mar 30, 2010 (LBO) – Sri Lanka’s listed Commercial Bank’s an annual general meeting of shareholders had not been held Tuesday due to the lack of a quorum, the Colombo Stock Exchange said. The meeting has been postponed to April 06. The shares due to be quoted ex-dividend from yesterday.
Sri Lankan stocks close 0.23-pct down
Mar 30, 2010 (LBO) – Sri Lankan stocks closed down Tuesday on weak buying interest while John Keells Holdings (JKH) came close to a billion US dollars in market capitalization brokers said. Colombo’s All Share Price Index closed at 3,765. 07, down 8.69 points, while the Milanka index of more liquid shares dipped 0.61 percent […]
Sri Lanka short term treasuries up
Mar 30, 2010 (LBO) – Sri Lanka short term Treasuries edged up slightly Wednesday but signs of further quantity easing emerged with only a part of a maturing tranche of bills being sold to real buyers. Three month bills edged up 7 basis points to 8.52 percent and the 6-month yield went up 05 basis […]
Sri Lanka economy grew 3.5-pct in 2009: statistics office
Mar 27, 2010 (LBO) – Sri Lanka’s economy grew 3.5 percent in 2009 pushed by growth in all three major sectors of economic activity, agriculture, industry and services, the Department of Census & Statistics (DCS) said in a statement. The Gross Domestic Product (GDP) growth was much slower than the six percent achieved in 2008, […]
Sri Lanka and Vietnam can build stronger economic links: envoy
HANOI, Mar 27, 2010 (LBO) – Sri Lankan businesses have opportunities to get into the service sector in fast growing Vietnam while benefiting from Vietnamese agricultural technology and trade, the island’s envoy to Hanoi said. The Sri Lanka mission here and Vietnamese authorities and business chambers are putting together a trade delegation to visit the […]
Sri Lanka gets foreign loans for tourism, roads
Mar 26, 2010 (LBO) – The World Bank has approved a loan of 18 million US dollars to Sri Lanka to develop sustainable tourism, international trade minister Gamini Peiris said. “These funds are to be used for infrastructure development,” Peiris said. “This is a matter of high priority for Sri Lanka now,” he told a […]
Sri Lanka stocks close 1.16-pct up, foreigners keep selling
Mar 26, 2010 (LBO) – Sri Lankan stocks closed up Friday on big price gains on blue chip stocks, while high interest on John Keells Holdings (JKH) helped turnover levels to pass a billion rupees, brokers said. Hayleys closed at 225.50 rupees, up 50 cents, and Hemas Holdings closed at 121.00 rupees, up 3.25. Commercial […]
Sri Lankan stocks close up 0.21-pct
Mar 25, 2010 (LBO) – Sri Lankan stocks closed higher Thursday pulled up by gains in index heavy John Keells Holdings (JKH), while a large deal on Hatton National Bank (HNB) pushed turnover to over five billion rupees, brokers said. The All Share Price Index closed at 3,730.43, up 7.71 points, while the Milanka index […]
Sri Lanka retirement fund gives 10-pct return for 2009
Mar 25, 2010 (LBO) – Sri Lanka’s Employees’ Provident Fund gave members a real rate of interest of 10.01 percent in 2009 with annual average inflation falling to 3.4 per cent, the Central Bank said. It said in a statement the fund, which it manages, has declared the highest-ever rate of interest of 13.75 per […]
Sri Lanka warned against excessive foreign reserves
Mar 24, 2010 (LBO) – Holding large foreign exchange reserves could actually be a burden for Sri Lanka’s government and deny funds from badly needed infrastructure and health care, a senior corporate executive has said. Sanjoy Ray, Finance Director of Finlays Colombo said that while foreign exchange reserves could act as a buffer against emergencies, […]
Sri Lanka Treasuries yields edge up
Mar 24, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yields moved up 05 basis points to 8. 45 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield moved up 05 basis points to 9. 19 percent while the 12-month yield stayed flat at 9.47 percent. The government’s debt office said it […]