Category: Economy and Markets
Sri Lanka’s central bank leaves policy rates unchanged
August 07, 2012 (LBO) – Sri Lanka’s Central Bank Tuesday left its trend setting short-term rates unchanged for the fourth straight month as monetary authorities move to cool inflation. The bank said its benchmark reverse repurchase rate, used to manage liquidity and contain inflation, stays at 9. 75 percent. The short-term repurchase rate, at which […]
Sri Lanka stocks down 0.06 pct
Aug 06, 2012 (LBO) – Sri Lanka stocks closed flat Monday after opening trade on a positive note, brokers said. The All Share Price Index slipped 2.97 points to close at 4,928.50 down 0.06 percent. The Milanka index of more liquid stocks slid 0.48 points to close at 4,380.27. The S&P 20 Index of large […]
New Sri Lankan book tackles alternatives to revive state firms
August 05, 2012 (LBO) – A Sri Lankan infrastructure specialist is sharing ideas on how loss-making state enterprises can transform themselves into a profitable venture in a new book written in Sinhala. Apata Galapena Arthika Kramaveda, a collection of articles on economics in Rohan Samarajiva, expert on infrastructure policies and C J Amaratunga, veteran journalist, […]
Sri Lanka, India trade deal seen containing deficit
August 04, 2012 (LBO) – A free trade deal between India and Sri Lanka has actually helped stabilise the island’s trade deficit with her larger neighbour, a senior economist has said. Concerns among Sri Lankan protectionist forces about the Indo-Lanka free trade agreement, that it was lopsided and favoured India, were largely misplaced, said Saman […]
Sri Lanka budget under pressure in May, but current gap narrows
August 03, 2012 (LBO) – Sri Lanka’s budget continued to be under pressure in May with the gap between total revenues at 119 billion rupees or 1.6 percent of gross domestic product but the pace of spending increases has slowed from a month earlier, official data showed. State finances performed much worse that last year, […]
’s Trincomalee district
August 03, 2012 (LBO) – India has agreed to set-up a dedicated economic zone and to build a pharmaceutical hub in Sri Lanka as part of bilateral ties to strengthen economic trade between the South Asian neighbours, a minister said. The manufacturing investment zone, is due to come up in Sri Lanka’s eastern seaport district […]
Sri Lanka stocks up 0.31 pct
August 02, 2012 (LBO) – Sri Lankan stocks closed flat Thursday after about an hour of spike triggered by investor confidence that credit rules would be reconsidered by treasury secretary P.B Jayasundara. The Colombo Stock Brokers Association has met treasury secretary P.B. Jayasundara and discussed ways to revive the bourse and better manage risks, and […]
‘s inflation accelerates to 9.8-pct in July
July 31, 2012 (LBO) – Sri Lanka’s consumer prices accelerated to a 15-month high of 9.8 percent in July from a year earlier, as prevailing dry weather hurt food crops, official statistics data showed. Inflation as measured by the Colombo Consumer Price Index rose 0.9 percent during the month of July to 166.7 points, the […]
Sri Lanka 6-month treasuries up
July 31, 2012 (LBO) – Sri Lanka’s treasury yields edged-up for six-months notes by two basis points at Tuesday’s auction, while three-month and one-year yields remained flat, central bank figures showed. Three-month notes were steady at 11.35 percent, the 6-month yields rose two-basis points to 12.87 percent and the 12-month yield was flat at 13.15 […]
Sri Lanka stocks up 0.19%; Odel dominates trading
July 31, 2012 (LBO) – Sri Lankan stocks was flat on Tuesday, with a turnover of over a billion rupees driven by strategic deals in conglomerate John Keells Holdings PLC and clothing retailer Odel PLC, brokers said. The broader All Share Price Index closed up 9.35 points to 4,944.86, while the liquid Milanka Price Index […]
Sri Lanka central bank calls bids to sell bills outright
July 30, 2012 (LBO) – Sri Lanka’s Central Bank has called bids to sell up to 15.5 billion rupees of Treasuries in its holdings to the public to drain liquidity that came from the proceeds of a sovereign bond sale. On Monday an auction was called to sell 7.5 billion rupees of 3 week bills […]
‘s central bank sells down Rs1.2bn from its bill stock
July 30, 2012 (LBO) – Sri Lanka’s Central Bank has sold outright 1.2 billion rupees from its 220 billion rupee Treasury bill stock to kill some of the liquidity that came from the purchase of dollars from a sovereign bond. The Central Bank said it had got bids for 850 million rupees for an offer […]