Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Asset Switch

Apr 05, 2010 (LBO) - Sri Lanka's state-run funds are buying into private banks as foreign investors continued to exit the country, while governments elsewhere, which had 'nationalized' banks in a banking panic were starting to sell out.
online pharmacy buy abilify with best prices today in the USA

Up to March foreign investors have sold out of about 13 billion rupees worth of stocks on a net basis.
buy nolvadex online https://qpharmacorp.com/wp-content/uploads/2023/08/png/nolvadex.html no prescription pharmacy

Analysts say part of the outflow stemmed from sales by US-based Galleon Fund manager Raj Rajaratnam, while others who had been in the country for years were exiting with capital gains after the market rose 125 percent last year.

buy doxycycline online https://qpharmacorp.com/wp-content/uploads/2023/08/png/doxycycline.html no prescription pharmacy

Brokers said most of the stocks shed by foreign funds were stocks like John Keells Holdings (JKH), Commercial Bank of Ceylon, National Development Bank and Hatton National Bank (HNB).

In to the breach

Analysts say a large proportion of the foreign selling was absorbed by entities like the Employees' Provident Fund (EPF) and Employees' Trust Fund (ETF), two retirement funds of private citizens managed by the state.

Other entities including state-run Sri Lanka Insurance Corporation (SLIC), National Savings Bank (NSB) and Bank of Ceylon (BoC) were also buying into banks, brokers said.

online pharmacy buy diflucan with best prices today in the USA

Sri Lanka's state is tightening its grip on banks as the Uni

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x