Category: Economy and Markets
Sri Lankan stocks close 0.11-pct down
Feb 09, 2010 (LBO) – A rally in Sri Lankan shares was interrupted Tuesday as retail investors took profits while price jumps in selected stocks prevented the bourse falling further, brokers said. Sunshine Holdings which has interests in plantations and healthcare sectors closed at 300.00 rupees, up 123.50, albeit on thin trading turnover. The Sri […]
Sri Lanka wraps up US$300mn arms loan with Russia: report
Feb 09, 2010 (LBO) – Sri Lanka has wrapped up a 300 million US dollar loan to buy “armaments and dual purpose technology” from Russia during a visit by President Mahinda Rajapaksa, a media report said. Russia and China have been the main arms suppliers to Sri Lanka during a 30-year war with Tamil Tiger […]
Sri Lanka to dredge more sea sand
Feb 08, 2010 (LBO) – Sri Lanka will appoint a dredging contractor to bring up three million cubic metres of sea sand to supply the domestic market which is running out of river sand and also for export. Sri Lanka Land Reclamation and Development Company (SLLR & DC), a state agency, holds the sole rights […]
Sri Lanka stocks end up 2.23-pct
Feb 08, 2010 (LBO) – Sri Lankan shares ended higher Monday and turnover was pushed up by big transactions in blue chips with investor V Vijayaratnam raising his stake further in Asia Capital, brokers said. The day’s trading turnover was pushed up by large trades in Asia Capital and several blue chip stocks. Asia Capital […]
Britain to cut number of student visas issued
LONDON, February 7, 2010 (AFP) – Britain is to cut the number of visas it hands out to foreign students in a bid to stop people breaking the rules by working illegally, officials said Saturday. The change, which comes after Prime Minister Gordon Brown ordered a review of the system at the end of last […]
Sri Lanka should address fiscal excesses, inflation: S&P
Feb 05, 2010 (LBO) – Sri Lanka’s ‘apparent lack of urgency’ to stop rising inflation and post election spending may put pressure on a deal agreed with the International Monetary Fund, Standard & Poor’s, a rating agency has said. President Mahinda Rajapaksa, re-elected with a stronger mandate, had a “unique opportunity” to “implement comprehensive fiscal […]
Sri Lanka stocks end up 0.24-pct
Feb 05, 2010 (LBO) – Sri Lankan shares ended firmer Friday with a few deals in financial stocks boosting trading turnover and investors anticipating profit-taking ahead as prices are at record highs, brokers said. “We tell investors to pick and chose fundamentally good stocks,†Perera said. “Even if there’s volatility, that’s good as it give […]
Sri Lanka leader calls for unity after poll win
February 4, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse on Thursday issued an independence day call for unity and reconciliation after his victory in a bitterly fought election. Rajapakse in an address to the nation said the island’s freedom day assumed great significance as it was the first since the defeat of separatist Tamil […]
Sri Lankan stocks close 0.31-pct down
Feb 03, 2010 (LBO) – Sri Lankan shares closed down Wednesday as retailers took profits on counters that rallied in recent weeks, while renewed interest on selected midcap stocks boosted their share prices, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,697.80 points, down 11.33 points, while the Milanka index of more […]
Sri Lankan stocks pass 3,700 point mark
Feb 02, 2010 (LBO) – Sri Lankan shares closed higher and passed the 3,700 point mark for the first time Tuesday as retailers continued to bet on plantations, while some investors took profits on selected blue chips, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,709. 13 points, up 17.74 points, while […]
Sri Lanka Treasuries yields flat
Jan 21, 2010 (LBO) – Sri Lanka’s three and six month Treasury bill yields edged up marginally, while 12 month bills stayed flat at Tuesday’s auction, the government’s debt office said. The 3-month yield increased 04 basis points to 7.99 percent, the 6-month yield increased 03 basis points to 8.93 percent and the 12-month yield […]
Sri Lanka reserve ratio hike not ruled out: CB Governor
Feb 02, 2010 (LBO) – Sri Lanka is open to increasing the ratio of cash banks must deposit with the Central Bank as a policy to contain inflation, Governor Nivard Cabraal said, as consumer inflation accelerated to an eleventh month high in January. Sri Lanka’s market risk free rates have already started to move up […]