Category: Economy and Markets
Sri Lanka Central Bank to sell down Treasury bill stock: Governor
Oct 18, 2012 (LBO) – Sri Lanka’s Central Bank will gradually sell down its Treasury bill stock, as they come up for maturity, Governor Nivard Cabraal said, in a move which can strengthen the island’s rupee peg and increase foreign reserves. A T-bill sell-down will stop the rupees from being given as loans by banks, […]
Sri Lanka war refugee re-settlement backed by the US
Oct 18, 2012 (LBO) – The United States has given 3. 0 million US dollars to three organizations to help re-settle war refugees with sufficient shelter, access to water and sanitation, the US embassy in Colombo said. The money will be used in Mullaitivu and Killinochchi districts in Sri Lanka’s north, by three charities; ZOA […]
Sri Lanka stocks closed down 0.39 pct
October 17, 2012 (LBO) – Sri Lanka stocks closed down 0.39 percent Wednesday recording the lowest turnover in two months. The Colombo All Share Index closed at 5,586.40 down 21.73 points and the S & P SL 20 Index closed 19.61 points lower at 3,017.33 down 0.65 percent. Turnover was 372 million rupees, the lowest […]
Sri Lanka Treasuries yield up at auction
Oct 17, 2012 (LBO) – Sri Lanka’s Treasuries yields edged up slightly at Wednesday’s auction with the 12 month yield rising 07 basis points to 12. 39 percent, data from the state debt office showed. The 03 month yield rose 03basis points to 10. 66 percent and 06-month yield rose 06 basis points to 11. […]
” debate meaningless: IMF Rep
Oct 16, 2012 (LBO) – Debating whether Sri Lanka’s rupee is ‘overvalued’ is a wasteful exercise as models used to determine some intrinsic value of an exchange rate are not worth the paper they are written on, an International Monetary Fund official said. “Economists – we – have these models,” IMF’s resident representative Koshy Mathai […]
Sri Lanka stocks closed down 0.81 pct
October 16, 2012 (LBO) – Sri Lanka stocks closed down 0.81 percent Tuesday with several blue chips losing ground. The Colombo All Share Index closed at 5,608.13 down 45.67 points and the S & P SL 20 Index closed 18.92 points lower at 3,036.94 down 0.62 percent. Turnover was 515 million rupees. Top contributors to […]
Sri Lanka stocks closed down 1.47 pct
October 15, 2012 (LBO) – Sri Lanka stocks closed down 1.47 percent Monday with most blue-chips trading below previous closing prices. Coco Lanka fell with investors giving thumbs down to a cash call to move into fast moving consumer goods retailing. The Colombo All Share Index closed at 5,653.80 down 84.44 points and the S […]
Sri Lanka hikes prices of cement, poultry
Oct 14, 2012 (LBO) – Sri Lanka’s consumer affairs authority, which has imposed price controls on chicken and cement, has raised the prices of the items media reports said. Poultry which is under price control also has import protection. Sri Lanka’s cost of production of poultry is artificially high duty to import protection given to […]
Sri Lanka budget: nobody said deficit is too large: Treasury Secretary
Oct 13, 2012 (LBO) – Not a single representative of the public or business community that had met Sri Lanka’s President Mahinda Rajapaksa, who is also finance minister, ahead of next month’s budget said the deficit was too large, an official said. Critics say the ruling political elite of all hues, has successfully maintained a […]
Sri Lanka to discuss new program later: IMF Rep
Oct 12, 2012 (LBO) – A separate mission would arrive in Sri Lanka to have discussion on an ongoing program with Sri Lanka with the end of a successful 2. 5 billion US dollar standby arrangement, an International Monetary Fund official said. IMF’s resident representative in Colombo Koshy Mathai said a mission that had just […]
Sri Lanka stocks closed up 0.30 pct
October 12, 2012 (LBO) – Sri Lanka stocks ended a streak of losses and closed up 0.30 percent Friday. Dialog Axiata PLC closed flat at 8.50 rupees. Index heavy John Keells Holdings PLC gained 1.90 rupees to close at 205.40 rupees up 0.93 percent. The Colombo All Share Index closed at 5,738.24 up 17.38 points […]
Sri Lanka borrowings not limited to China: Treasury Secretary
Oct 11, 2012 (LBO) – Sri Lanka’s external financing has got diversified out of a traditional Western led donor group but the country was not just depending on China, despite such a perception building up, Treasury secretary P B Jayasundera said. “Although there is a perception that we have only Chinese assistance for development, the […]