Category: Economy and Markets
Sri Lanka rates unchanged; private credit as envisaged: CB Governor
Oct 23, 2012 (LBO) – Sri Lanka has kept its key policy rate at which money is injected in to the banking system unchanged at 9.75 percent and private sector credit was slowing as expected, Central Bank Governor Nivard Cabraal said. The currency can also strengthen and reserves can be built up if the state […]
Sri Lanka parliament has little control over finances: legislator
Oct 22, 2012 (LBO) – Sri Lanka’s parliament has no real control over public finances with the arm of the government not even having a budget committee, though the country’s constitution says otherwise, a legislator said. But in countries where liberal thought is not valued, and where nationalism and interventionism prevails, parliamentary sovereignty can lead […]
Sri Lanka stocks closed down 1.69 pct
October 22, 2012 (LBO) – Sri Lanka stocks closed down 1.69 percent Monday with most blue-chips trading at lower prices. The Colombo All Share Index closed at 5,553.89 down 95.64 points and the S & P SL 20 Index closed 31.96 points lower at 3010.02 down 1.05 percent. Turnover dipped to a two month low […]
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 up 0.70 pct
October 18, 2012 (LBO) – Sri Lanka stocks closed up 0.70 percent Thursday with several blue chips making marginal gains. The Colombo All Share Index closed at 5,625.32 up 38.92 points and the S & P SL 20 Index closed 11.67 points higher at 3,029.00 up 0.39 percent. Turnover was 621 million rupees. JKH led […]
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 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. […]
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 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 […]
” 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 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 […]