Sri Lanka's CSE, the best performing market in the world

[Lankan Ranger]

Sri Lanka's CSE, the best performing market in the world

Sri Lanka's stocks closed up 2.1 percent Friday becoming the best performing market in the world, up 110.9 percent so far according to Bloomberg newswires data.

Colombo's benchmark All Share Price Index closed at 7,147, topping the 7,000 mark, and up 150.56 points.

The more liquid Milanka Price Index closed at 7,829.05, up 3.66 percent (276.34 points).Turnover was six billion rupees, according to provisional stock exchange data. Aitken Spence Hotel Holdings, which Thursday announced a deal with Six Senses for a new resort on the south coast, was the day's third highest gainer, closing at 854.30 rupees, up 134.30 rupees or 18.7 percent. Colombo Dockyard, which was heavily traded, closed at 284.90 rupees, up 11.20, with several off-the-floor deals done at 270 rupees.

Last year Colombo stocks rose 120 percent, ending the year as the world's second best performing market. Sri Lanka emerged from a 30-year-conflict in May 2009, raising optimism about future growth.

CEO, Ram Ratings Lanka Ltd, Adrian Perera said that becoming the best performing stock market is a proud moment.

He said that regulators are mindful of this situation and are taking steps to maintain same. Perera noted that it is very important to maintain stability.

A top stock broker said that becoming the world's best performing market is a historic moment and this will attract more top investors to the country. Also it will make investors who were undecided to look at our country positively.

All stock brokers are happy as we were eagerly looking forward to our stock market becoming the number one performing market in the world, he said.

Sri Lanka News | Sundayobserver.lk

 

[Lankan Ranger]

Sri Lanka a major attraction for FDI - Japan

The Japanese government affirms that out of all the developing nations in the world Sri Lanka has become one of the major zones in the global economy to attract Foreign Direct Investment (FDI).

A delegation of Japanese Parliamentarians expressed these views with Prime Minister D.M. Jayaratne at an official meeting held at the Premier's official residence, Visumpaya on October 28.

President of the Japan - Sri Lanka Parliamentary Friendship Association, Hirofumi Hirano and Director - Generals of the association Toshiro Ishii and Hitoshi Hasegawa met Prime Minister Jayaratne in a bid to enhance bilateral relations between the two countries.

The Japanese delegation pointed out that in order to increase the flow of Foreign Direct Investment to the country the prevailing infrastructure facility should be further developed and expanded.

They also affirmed that the Government of Japan is committed to support Sri Lanka in this regard.

It is the need of the hour to develop the infrastructure facilities required to revamp the earnings from the tourism sector since Sri Lanka is famous as an exquisite tourist destination.

The delegation of Japanese MPs stressed that with the dawn of peace the image of Sri Lanka as a major tourist the attraction has been further strengthened.

Prime Minister D. M. Jayaratne said that China & South Korea have already commenced large scale capital investments in the country.

The rate of growth of Gross Domestic Product in Sri Lanka during the second quarter of the year is 8.5%. The peaceful environment prevailing in the country has greatly helped this exponential growth in the economy.

In this regard Prime Minister expressed the need to gain international assistance to sustain the rate of growth.

Japanese Ambassador to Sri Lanka Kunio Takahashi was also present during the discussion.

Sri Lanka News | Sundayobserver.lk