Category: Economy and Markets
Sri Lanka stocks dragged lower by Dialog Telekom, war fears
April 28, 2008 (LBO) – Sri Lanka stocks closed 0.51 percent lower, dragged down by a fall in the price of index-heavy Dialog Telekom and investor jitters over heavy army casualties in battle with Tamil Tigers, brokers said Monday. The All Share Price Index of the Colombo Stock Exchange closed 13.56 points (0.51 percent) lower […]
Sri Lanka blast kills 12 and injures 30
April 25, 2008 (LBO) – A blast near a crowded bus station South of Sri Lanka’s capital Colombo has left at least 12 dead and more than a 40 injured, police and eyewitnesses said. The explosion went off in the suburb of Piliyandala during the evening rush hour at around 6.45 pm authorities aid. An […]
Sri Lanka private sector credit falls further: Central Bank
April 23, 2008 (LBO) – Sri Lanka’s private sector credit growth has fallen to 15.8 percent in February from the highs of 25 to 26 percent reach in 2007, but credit to state enterprises should fall further, the Central Bank said. “Although credit to public corporations also declined to 47.5 billion rupees during the month […]
Sri Lanka to subsidize dairy credit amid high interest rates
April 23, 2008 (LBO) – Sri Lanka’s government will give interest subsidies for banks to lend up to 5,000 million rupees to dairy farmers and agricultural processors, the country’s central bank said. “With the sharp increase in the prices of milk powder and food crops in global markets, a favourable environment has been created for […]
Sri Lankan stocks edge up on AMW, East-West interest
April 23, 2008 (LBO) – Sri Lankan shares closed higher Wednesday largely driven by trading in Associated Motorways, East-West Properties and Dialog Telekom, brokers said.All Share price Index went up 8.26 points (0.31 percent) to 2,681.27 while the more liquid Milanka rose 15.41 points (0.47 percent) to 3,322.63. Turnover was 303 million rupees. “AMW has […]
Sri Lanka trade deficit doubles, foreign reserves up
April 22, 2008 (LBO) – Sri Lanka’s trade deficit doubled in the first two months of the year to 937 million dollars but the overall balance of payments was in surplus by 448 million dollars, the central bank said. In February exports grew 9.7 percent to 642.6 million dollars with tea exports rising 42. 1 […]
Sri Lanka relaxes rice price controls
April 22, 2008 (LBO) – Sri Lanka has lifted price controls on the rice wholesale trade, a top official said, ending a short-lived socialist experiment not seen in the country since the heavy money printing and control era of the 1970’s. Trade ministry secretary R M K Ratnayake said a decision had been made to […]
‘s share market picks up on telecom deal
April 22, 2008 (LBO) – Sri Lankan stocks open higher with a 34 million share deal in Dialog Telekom that boosted turnover to 712.7 million rupees in early morning trading.Approximately 34,416,500 shares were traded at 16.50 rupees, brokers said. The deal went through in two ten million chunks, two 4.5 million and a five million […]
Sri Lanka stocks close higher; Dialog, AMW draw interest
April 22, 2008 (LBO) – Sri Lankan shares edged higher with heavy trading in Dialog Telekom driving turnover past the billion rupee mark and vehicle agency Associated Motorways (AMW) rising sharply on speculative buying, brokers said. All Share price Index went up 10.08 points (0.38 percent) to 2,673.01 while the more liquid Milanka index fell […]
Sri Lanka Telecom dominate Colombo share trading
April 21, 2008 (LBO) – Sri Lankan shares closed lower Monday but turnover soared to over 3.5 billion rupees on several crossings of Sri Lanka Telecom and trades in Hotel Services (Ceylon), which owns a city hotel, brokers said. The All Share Price Index fell 8.90 points (0.33 percent) to 2,662.93 while the more liquid […]
” of rice
April 21, 2008 (LBO) – An examination of futures prices show that there is no ‘shortage’ of rice, but government meddling in rice production and marketing is causing other negative fallouts, a top economist has said. Steve Hanke, from the Johns Hopkins University of Baltimore in the United States, says the term structure of Thai […]
Sri Lanka agriculture, construction workers earn less, services do better
April 21, 2008 (LBO) – Sri Lankan agriculture and construction workers saw their earnings eroded by high inflation in 2007 for the second year running while public sector workers and the service sector saw real increases, the central bank said. ” . . . as experienced in the previous year, both the agriculture and construction […]