Category: Economy and Markets
Sri Lanka dairy firm eyes former war zones, exports
Aug 28, 2012 (LBO) – Lanka Milk Foods, a unit of Sri Lanka’s Stassen group said it was eyeing former war zones in the north and east of the country for expansion, while it operated within complex state interventions. LMF’s imported milk business was hit by state price controls and import duties but it also […]
Sri Lanka stocks up 1.2-pct, rupee weaker
Aug 27, 2012 (LBO) – Sri Lanka’s stocks closed up 1.2 percent in a broad based rally that saw index heavy and several small caps making gains, brokers said, while the rupee traded weaker, dealers said. The Colombo All Share Index closed up 60.2 points at 5,073.10, and the S&PSL20 closed up 0.88 percent at […]
Sri Lanka Navy arrests over 1,000 Australia bound migrants over three months
Aug 26, 2012 (LBO) – Sri Lanka’s Navy said it arrested 98 boat people in two multi-day fishing vessels who were bound for Australia, taking the total arrested or rescued to 1,076 in the past three months, according to data released so far. In July the Navy had rescued or intercepted 542 people including 08 […]
Sri Lanka forex reserves US$7.1bn by July 2012
Aug 25, 2012 (LBO) – Sri Lanka’s foreign reserves had risen to 7.1 billion US dollars by end July 2012 from 6,045 million US dollars in June, helped by a loan from the International Monetary Fund and other inflows, the Central Bank said. When remittances, tourism receipts and foreign borrowings are spent by those that […]
Sri Lanka stocks down 0.50 pct
Aug 24, 2012 (LBO) – Sri Lanka stocks closed down 0.50 percent Friday with large cap stocks trading at lower levels, brokers said. The All Share Price Index dropped 25.31 points to close at 5,012.84 down 0.50 percent. The Milanka Index of more liquid stocks fell sharply by 56.29 points to close at 4,636.53 down […]
Sri Lanka stocks close up 0.21 pct
Aug 23, 2012 (LBO) – Sri Lanka stocks closed up 0.21 percent Thursday, with investors picking on selected counters, brokers said. The All Share Price Index gained 10.75 points to close at 5,038.15 up 0.21 percent while the Milanka index of more liquid stocks dropped 1.17 points to close at 4,692.82 down 0.02 percent. The […]
Sri Lanka money market liquidity dries up
Aug 21, 2012 (LBO) – Excess liquidity in Sri Lanka’s money markets which came from a unsterilized purchase of foreign exchange from a sovereign bond has largely dried up, tightening the monetary system. On Aug 21, excess liquidity in the banking system fell to 1. 9 billion rupees from 12.9 billion rupees on Aug 14, […]
Sri Lanka Treasuries yields up
Aug 22, 2012 (LBO) – Sri Lanka’s 12-month Treasuries yields rose 05 basis points to 13. 27 percent at Wednesday’s auction, while the 3-month rate was flat at 11.36 percent, the state debt office said. Excess liquidity in money market, which came from unsterilized foreign exchange purchases in the last week of July dried up […]
‘s Cargills (Ceylon) net down 24-pct
Aug 20, 2012 (LBO) – Profits of Sri Lanka’s Cargills (Ceylon) Plc, which interests in retailing and fast moving consumer goods fell 24 percent to 245 million rupees, as higher interest costs bit into the bottom line, interim accounts showed. The group reported earnings of 1.10 rupees for the quarter. Revenues rose 25 percent to […]
” rating confirmed
Aug 20, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating of Sri Lanka’s John Keells Holdings, a diversified group which has interests in transport, leisure, consumer foods and financial services, with a stable outlook. “The affirmation reflects the continued strong dividend income from JKH’s core investments and its subsequent low financial leverage,” Fitch […]
Sri Lanka one year Treasuries slightly up
Aug 15, 2012 (LBO) – Sri Lanka’s Treasuries yields edged up slightly on longer maturities at Wednesday’s auction with the one year yield reaching 13. 23 percent up 05 basis points from a week earlier, data from the state debt office showed. The process does not create fresh demand to pressure the country’s dollar peg […]
Sri Lanka stocks close up 1.27 pct
Aug 14, 2012 (LBO) – Sri Lanka’s stocks ended a seven day losing streak and closed up 1.27 percent Tuesday with large cap stocks trading on higher prices, brokers said. John Keells Holdings gained 9.30 rupees to close at 190.00 rupees up 5.01percent. Aitken Spence Plc slipped 1.70 rupees to 108.30 down 1.55 percent. AVIVA […]