Category: Economy and Markets
Sri Lanka allows transaction between forex accounts
July 11, 2012 (LBO) – Sri Lankan bank customers holding foreign currency accounts would be able to transfer money among each others’ account with greater freedom in the future the Central Bank said. Holders of non-resident foreign currency (NRFC) accounts would be allowed to transfer money to other NRFC account holders and to resident foreign […]
Sri Lankan stocks fall 0.39 percent
July 10, 2012 (LBO) – Sri Lankan stock prices remained in the red, despite large deals in Confifi Hotel, Hatton National Bank and Aitken Spence that helped swell Tuesday’s turnover, brokers said. Hatton National Bank’s non-voting stock gained 2.80 rupees to 92.80 rupees on 2.34 million shares. Brokers said a large block of 1.22 million […]
Sri Lankan stocks down 0.07 percent
July 09, 2012 (LBO) – Sri Lankan stocks closed down 0.07 percent on Monday, despite investor interest in selected stocks like Carsons Cumberbatch PLC, brokers said. LOLC Group, which has investments in leasing and financial services, saw 214,100 shares trade. But the stock closed down 10 cents to 37.10 rupees. Overseas Realty, the Singaporean owners […]
Sri Lanka losses on Greece bonds offset by other gains: Central Bank
July 07, 2012 (LBO) – Sri Lanka has lost money by buying Greece government bonds for its foreign reserve portfolio but returns on other assets have offset the losses, the Central Bank said. Sri Lanka has a de facto peg with the US dollar and aggressive investment strategies involving diversifying out of dollar assets can […]
Sri Lankan stocks up 0.08 percent
July 06, 2012 (LBO) – Sri Lankan share prices snapped a four-day loosing streak to rise marginally by 0.08 percent on Friday, with activity centred around Central Finance PLC and few small cap stocks, brokers said. PC House Holdings, a computer peripheral company, slipped 50 cents to 13.40 rupees on 3.7 million shares, largely on […]
Sri Lanka excess liquidity up, rates lower
July 06, 2012 (LBO) – Excess liquidity in Sri Lanka’s interbank markets have topped 20 billion rupee over the past three days easing tighter monetary conditions that prevailed a week earlier, official data show. If not the Central Bank will have to sell the collected dollars to prevent the exchange from being depreciated by the […]
Sri Lanka expropriated sugar firms begin to hit tax payers
July 05, 2012 (LBO) – Two sugar mills expropriated by the state last year has begun to burden ordinary citizens with the finance ministry channeling 557 million rupees from taxes extracted from the people to the firms. A mid-year fiscal report to parliament revealed that 550 million rupees had been given to cover day to […]
Sri Lankan stocks slip 0.44 percent
July 05, 2012 (LBO) – Sri Lankan shares ended 0.44 percent lower on Thursday, on volumes of 25.7 million shares, with turnover driven by Malaysia’s Dialog Axiata Plc, brokers said. Commercial Bank, one of the country’s most profitable lender, saw its non-voting stock rise 40 cents to 74.00 rupees on 366,265 shares. Elsewhere, Lanka Walltiles […]
Sri Lanka Treasuries yields up
July 04, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across the board on Wednesday, six-month yields rising the most by 16 basis points, state debt office said. Three-month treasuries were up eight basis points to 11. 20 percent, six month paper rose to 12.77 percent, while one-year maturities gained 10 basis points to 12. […]
Sri Lanka spends Rs50bn on roads in five months
July 04, 2012 (LBO) – Sri Lanka has spent 70 billion rupees on highways, power, water and sanitation in the first five months of the year, with 50 billion rupees going to roads, a finance ministry report said. The finance ministry in a mid-year fiscal report said 36.8 billion rupees was spent on national roads, […]
Sri Lankan stocks down 0.12%
July 04, 2012 (LBO) – Sri Lankan share prices slipped into the red on Wednesday, despite a one-off trade in Nestle Lanka Plc, brokers said. The broader All Share Price Index dipped 6.35 points or 0.13 percent to 4,946.58, the liquid Milanka Price Index slipped 31.11 points or 0.71 percent to 4,373.05, and the S&P […]
Sri Lanka to build US$3bn tourism city with Singapore firm: BOI
July 04, 2012 (LBO) – Sri Lanka’s state investment promotion agency said it had inked a deal with a Singapore led consortium to build a 3 billion US dollar tourism city in Katana, north of the capital Colombo. Earlier reports had said that Sun City, a South Africa based firm will build an 800 million […]