Category: Economy and Markets
Sri Lanka stocks down 0.98 pct
Sept 18, 2012 (LBO) – Sri Lanka stocks closed down 0.98 percent Tuesday, taking a breather from steady gains made over several days. The benchmark Colombo All Share Price Index dropped 58.28 points to close at 5,9110.81 down 0.98 percent and the S&P SL 20 index closed down 1.03 percent at 3,177.73 points up 32.97 […]
Sri Lanka banks on cricket to repair image
COLOMBO, Sept 17, 2012 (AFP) – Sri Lanka is banking on cricket to repair the damage to its blood-stained image after the brutal end to a 37-year ethnic war as it stages the biggest tournament in the nation’s post-independence history. Since declaring an end in 2009 to a conflict that claimed up to 100,000 lives, […]
Sri Lanka economy grows 6.4-pct in 2Q: statistics office
Sept 17, 2012 (LBO) – Sri Lanka’s economy grew 6.4 percent in the second quarter of 2012 from a year earlier, slowing from 7.9 percent in the first quarter, gross domestic product estimates by the state statistics office showed. The statistics office said agriculture grew 9.1 percent from a year earlier, industry grew 9. 5 […]
Sri Lanka sells US$121mn in 3-year bonds
Sept 17, 2012 (LBO) – Sri Lanka has sold US121.05 million US dollars of 3-year bonds at a weighted average yield of 400 basis points above the 6-month London Interbank Offered Rate, the state debt office said. Sri Lanka offered 60 million US dollars of bonds for sale but 121. 05 million in bids were […]
Sri Lanka to keep credit ceilings in place, policies working: CB Governor
Sept 14, 2012 (LBO) – Sri Lanka’s will keep credit ceilings in place as banks still have enough space to lend, and policies taken to fix balance of payments pressure is bringing results, Central Bank Governor Nivard Cabraal said. Governor Cabraal says measures taken earlier in the year, including credit ceilings are now taking effect […]
Sri Lanka should cut corruption, opaque rules to draw investors: Blake
Sept 14, 2012 (LBO) – Sri Lanka should cut corruption and create transparent processes for investors and also avoid unpredictable actions such as expropriating property, a senior US State Department official said. “In general we want to see the government do as much as they can to reduce some of the impediments – bureaucratic impediments […]
Sri Lanka stocks up 7.8-pct in week
Sept 14, 2012 (LBO) – Sri Lanka stocks closed up 2.59 percent Friday gaining 7.8 percent through the week in a broad based rally, with record gains by an illiquid new stock, brokers said. The benchmark Colombo All Share Price Index closed at 5,920 gaining 149.6 points and the S&P SL 20 index closed up […]
Sri Lanka stocks up 1.9-pct
Sept 12, 2012 (LBO) – Sri Lanka stocks rose 1.9 percent Thursday with saw penny stocks and key large caps moving up, extending a rally that began in late August, brokers said. The Colombo All Share Price Index rose 108.9 points to close at 5,777.22 and the S&P SL 20 index rose 1.93 percent to […]
Sri Lanka stocks close up 1.3-pct
Sept 12, 2012 (LBO) – Sri Lanka closed up 1.38 percent in a day that a commodity broker and a finance company started trading for the first time, brokers said. Selinsing, an illiquid stock which rose 500 rupees with a single share being traded on Tuesday fell back 209 rupees to 1,390. Some poultry stocks […]
Sri Lanka Treasuries yields flat
Sept 12, 2012 (LBO) – Sri Lanka’s Treasury bill yields were flat across maturities at Wednesday’s auction, with only 7. 3 billion rupees of bills being sold out of 9.0 billion rupees offered, data from the state debt office showed. In 2011 rates were manipulated by ‘quantity easing’ along the yield curve involving large volumes […]
Sri Lanka stock rally takes pause
Sept 11, 2012 (LBO) – Sri Lanka’s stocks closed marginally lower Tuesday ending a 10 straight days of gains that followed the replacement of a regulator who was tough on securities fraud, brokers said. Politically connected investors and brokers blamed SEC rules and investigations of micro cap fraud including pump and dump scams for the […]
Sri Lanka budget deficit 4.0-pct of GDP in first half
Sep 10, 2012 (LBO) – Sri Lanka has run a deficit of 4. 0 percent of gross domestic product in the first half of the year, though there are signs that more taxes are being extracted out of citizens to cover state spending, official data shows. The revenue deficit or the gap between money spent […]