Category: Economy and Markets
Sri Lanka Treasuries ease lower
Mar 12, 2014 (LBO) – Sri Lanka’s Treasuries yields edged lower at Wednesday’s auction with the 3-month yield down 02 basis points to 6.69 percent, the state debt office said.The 6-month yield fell 03 basis points to 6.85 percent and the 12-month yield fell 01 basis point to 7.06 percent. The state debt office said […]
Sri Lanka needs near term moderate growth for stability: IMF output gap study
Mar 12, 2014 (LBO) – Sri Lanka has a potential gross domestic product growth of about 6.75 percent a year after the end of a civil war and near term moderate growth may help keep the economy stable, an International Monetary Fund Study has suggested. Proponents of the so-called ‘output gap’ believe that an economy […]
Sri Lanka stocks end down 0.2-pct
Mar 12, 2014 (LBO) – Sri Lanka’s stocks close 0.19 percent lower Wednesday with leading food and beverage company losing ground, brokers said. SLT closed 70 cents lower at 44.00 rupees and Dialog Axiata closed flat at 9.00 rupees. Asian Hotels and Properties closed 1.00 rupee lower at 58.00 rupees and John Keells Holdings closed […]
Sri Lanka stocks down 0.2-pct, rupee stronger
Mar 11, 2014 (LBO) – Sri Lanka’s stocks close 0.22 percent lower Tuesday with index heavy John Keells Holdings losing ground and the rupee was allowed to appreciate slightly by authorities, brokers and dealers said. The Colombo benchmark All Share Price Index closed 13.04 points lower at 5,944.57 down 0.22 percent. The S&P SL20 closed […]
Sri Lanka stocks close weaker
Mar 10, 2014 (LBO) – Sri Lanka’s stocks close 0.14 percent lower Monday with Sri Lanka Telecom and John Keells Holdings losing ground, brokers said. The Colombo benchmark All Share Price Index closed 8.45 points lower at 5,957.61 down 0.14 percent. The S&P SL20 closed 7.30 points higher at 3,252.29, up 0.22 percent. Turnover was […]
Sri Lanka sells US$187mn in 3-year floating rate bonds
Mar 10, 2014 (LBO) – Sri Lanka has sold 187 million dollars of 3-year bonds at a yield of 400 basis points above the London Interbank Offered Rate, the state debt office said.The bonds are mostly bought by Colombo-based banks and investors who are allowed to hold foreign currency assets. On March 10, LIBOR was […]
Sri Lanka no longer “uncomfortable” with inflation blot on economic record
Mar 10, 2014 (LBO) – Sri Lanka is no longer “uncomfortable” with the blot of high inflation in its economic record when meeting international agencies and visiting businessmen, a top official said.“We no longer feel uncomfortable to speak to the International Monetary Fund, the World Bank, the international rating agencies, the international business community, all […]
‘s interest rates kept higher to help savers: Treasury Secretary
Mar 08, 2014 (LBO) – Sri Lanka’s interest rates have been kept higher than underlying conditions required, in order to protect savers, Treasury Secretary P B Jayasundera said.Jayasundera said price reforms in state energy utilities, transport and water distribution had resulted a public sector deficit reversal of around 2 percent of gross domestic product. “And […]
Sri Lanka stocks close flat
Mar 07, 2014 (LBO) – Sri Lanka’s stocks close 0.07 percent higher Friday with index heavy John Keells Holdings extending gains amid thin foreign activity, brokers said. The Colombo benchmark All Share Price Index closed 4.13 points higher at 5,966.06 up 0.07 percent. The S&P SL20 closed 10.94 points higher at 3,244.99, up 0.34 percent. […]
‘s fastest growing firms to join US-based AllWorld Network
Mar 07, 2014 (LBO) – Sri Lanka firms and start-ups could gain wide visibility which will win them more business and financial backing after the island joined the AllWorld Network, a grouping of fast-growing companies, officials said.“Those companies are not growing at 5 percent,” Anne Habiby, co-founder of AllWorld Network told a forum in Colombo […]
Sri Lanka stocks close up 0.4-pct
Mar 06, 2014 (LBO) – Sri Lanka’s stocks close 0.43 percent higher Thursday with index heavy John Keells Holdings extending gains, brokers said. Ceylon Tobacco Company closed flat at 1,120.00 rupees and Distilleries closed 80 cents lower at 204.20 rupees. DFCC bank closed 1.90 rupees higher at 144.10 rupees and NDB Bank ended 1.00 rupee […]
Sri Lanka Treasuries yields steady
Mar 05, 2014 (LBO) – Sri Lanka’s short term Treasuries yields eased slightly while the 12-month yield was unchanged at 7.07 percent at Wednesday’s auction, data from the state debt office showed. The debt office sold 01 billion rupees of 3-month bills, 7.7 billion rupees of 6-month bills and 18.2 billion rupees in 12-month bills […]