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* Market heavyweight John Keells boosts overall index * Foreign fund inflow for the first time in 10 sessions * Rupee steady on state bank protection COLOMBO, July 5 (Reuters) – Sri Lanka’s stock market recovered from a six-month low on Tuesday led by 3.8 percent rise in heavyweight John Keells Holdings with foreign inflow [...]
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* Turnover falls below 1 bln rupee mark first time in 3 1/2 months * Over 30 bln rupee locked up in private placement, IPO-official * Rupee steady despite importer dlr demand on state bank selling COLOMBO, July 4 (Reuters) – The Sri Lankan stock market fell to six-month low on Monday with turnover too [...]
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* Bourse recoups losses from 5-mo low on bargain hunting; low liquidity weighs * Foreigners buy 761.9 mln rupees worth shares on net basis for the week * Rupee edges up after central bank comments COLOMBO, June 17 (Reuters) – Sri Lanka’s stock market recovered from its five-month closing low on Friday as investors picked [...]
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* Shares at 5-mo low on retail margin sales amid low liquidity after two IPOs * Foreigners buy 73.7 mln rupees worth shares on net basis * Rupee down on importer dlr demand-dealers COLOMBO, June 16 (Reuters) – Sri Lanka’s stock market fell on Thursday to a five-month closing low on margin calls that forced [...]
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COLOMBO, June 10 (Reuters) – The International Monetary Fund on Friday urged Sri Lanka’s central bank to avoid continuous sales of foreign exchange to support the rupee, and said a flexible exchange rate would ease balance of payments pressures. The Fund’s comments came as the Sri Lankan currency LKR rose to 109.30 to the dollar [...]
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COLOMBO, June 8 (Reuters) – Post-war Sri Lanka’s booming tourism investments have boosted the island nation’s 2011 first quarter foreign direct investment (FDI) to a record $236 million, the state-run investment promotion arm said on Wednesday. The Board of Investment (BOI) in a statement said the March quarter FDI had leapt 160 percent from a [...]
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* Bank will open Islamic finance branch in June * Expects 20 percent gain in net profit for FY 2011 * Forecasts profits up 30-35 percent for Q2 2011 By Shihar Aneez and Ranga Sirilal COLOMBO, May 23 (Reuters) – Sri Lanka’s biggest private lender Commercial Bank of Ceylon on Monday said it expects its [...]
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COLOMBO, April 20 (Reuters) – Sri Lanka’s rupee currency will be under pressure to appreciate due to the expected post-war influx of dollars to the country’s service sector, the island nation’s central bank chief economist said on Wednesday. Since the end of a 25-year war in May 2009, the $50 billion economy has yet to [...]
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COLOMBO (Reuters) – Sri Lanka boosted its electricity generating capacity by 11 percent on Tuesday with the opening of a Chinese-financed coal power plant the government says will cut its foreign exchange needs and high electricity costs that have dulled investment. The 300 megawatt (MW) plant built by Chinese engineers at Norocholai on the northwestern [...]
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March 11 (Reuters) – Sri Lanka’s stock market fell in low volumes and turnover on Friday to over five-week lows as investors cashed in for upcoming IPOs and forced selling by brokers in line with a directive by the Securities and Exchange Commission (SEC). The island’s main share index fell 0.96 percent or 70.90 points [...]
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COLOMBO, Feb 18 (Reuters) – The International Monetary Fund on Friday said Sri Lanka is likely to have achieved its budget deficit target of 8 percent of gross domestic product (GDP) under a $2.6 billion loan programme. After completing its sixth assessment of Sri Lanka’s performance under the loan, the mission head said the government [...]
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COLOMBO, Feb 9 (Reuters) – A few thousand opposition supporters marched in Sri Lanka’s capital to demonstrate against higher food prices, part of an opposition call to launch Egypt-style mass protests against President Mahinda Rajapaksa. The main opposition United National Party (UNP) earlier this week urged one million people to take to the streets and [...]
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