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UK’s Guardian says “Sri Lanka is world’s fastest rising markets”

Jan 5, 2011 6:03:46 AM - itnnews.lk

Guardian says Sri Lanka is the world’s fastest rising markets. UK’s Guardian made this reference in a recent report titled ‘the best and worst investments of 2010’.

‘In 2009, the little-known Colombo Stock Exchange rose a remarkable 128% after the Sri Lankan government formally declared an end to the 25-year civil war’ Last year, the market has soared again, rising by 101% (in sterling terms) in the year to 20th December.

According to figures compiled for Guardian Money by Vanguard, which operates a wide range of index funds, the Sri Lanka stock market is reported to be one of the most modern exchanges in South Asia, with a fully automated trading platform. The value of the companies traded on the market is now more than 20 Billion US Dollars, and 2011 will see companies such as Sri Lankan Airlines listing its shares. It said the island’s economy is expected to grow 8% in 2010 and 9% in 2011 – rates usually seen in China. Tourism is booming, with 750,000 visitors anticipated in 2011, while tea exporters are also enjoying strong gains.