Category: Economy and Markets
Sri Lanka stocks close down 0.16 pct, rupee weaker
July 26, 2012 (LBO) – Sri Lanka’s stocks fell 0.16 percent Thursday, with strong interest in ODEL which was taken over by a foreign department store at a price below today’s market price, brokers said. The Colombo All Share Price Index fell 7.69 points to 4,876.19 and the S&P 20 Index of large cap stocks […]
‘s business climate and free trade can soften Eurozone effect: envoy
July 26, 2012 (LBO)- Sri Lanka can further improve its business climate to propel growth, attract more investors while freeing trade could ease also soften the impact of a Eurozone crisis, a diplomat has said. British high commissioner (ambassador) John Rankin, told an annual meeting of Sri Lanka’s Ceylon Chamber of Commerce that greater protectionism […]
Sri Lanka banking system liquidity up on bond sales
July 26, 2012 (LBO) – Sri Lanka’s central bank has announced a record repo auction of 58 billion rupees to drain excess liquidity from the banking system dealers said, indicating that proceeds sovereign bond had been used to repay short term bank debt. The liquidity also indicates that over 400 million US dollars from a […]
Sri Lanka gets US$437mn in FDI up to May: Central Bank
July 25, 2012 (LBO) – Sri Lanka is estimated to have received about 437 million US dollars in foreign direct investments up to May 2012, while 187 million US dollars have flowed into stocks in the first half of the year, the Central Bank said. FDI is equity, loans from parents and re-investment by foreign […]
‘s war torn image still hurting economic prospects: diplomat
July 25, 2012 (LBO) – Sri Lanka needs to improve its image overseas and promote a stable macroeconomic environment to help build bilateral trade links and attract more foreign investors, a Dutch diplomat said. Bas Van Noordenne, Netherland’s deputy head of mission in Sri Lanka told a business forum that people still associate Sri Lanka […]
Sri Lanka short term Treasuries yields ease
July 25, 2012 (LBO) – Sri Lanka’s Treasuries yields edged lower across maturities at Wednesday’s auction, with the six month yield falling most data from the state debt office showed, though longer term bond prices remained steady. The 3-month yield fell 01 basis point to 11.35 percent, the 6-month yield fell 06 basis points to […]
” call difficult: IMF rep
July 24, 2012 (LBO) – It is difficult to say whether Sri Lanka’s rupee is ‘overvalued’ and any specific level no longer matters because the exchange rate is now flexible, an International Monetary Fund’s official said. “There are models economists run to measure overvaluation of a currency,” IMF’s resident representative Koshy Mathai said. “Those models […]
Sri Lanka stock stocks fall 0.1-pct, rupee steady
July 24, 2012 (LBO) – Sri Lanka’s stocks fell 0.1 percent Tuesday with index heavy stocks losing ground but the rupee was steady in foreign exchange brokers and dealers said. The Colombo All Share Price Index closed at 4,874.36, -7.41pts and the S&P20 Index of large cap stocks fell 0.98 percent to close at 2,769 […]
‘s new IMF program to back longer term goals
July 23, 2012 (LBO) – A new two year program to be discussed with the International Monetary Fund will support longer term goals of the administration which may involve improving revenues, state enterprises, or keeping deficits and inflation down, officials said. Details discussions on the program will be held with the arrival of the next […]
Sri Lanka rupee extends gains
July 23, 2012 (LBO) – Sri Lanka’s rupee rose to 130. 90/131.05 levels against the US dollar Monday extending earlier gains with inflows as monetary policy remained in favour of a stronger rupee, dealers said. Some inflows to bond markets were also not bought the monetary authority helping keep upward pressure on a rupee peg. […]
Sri Lanka stocks down 0.13 pct
July 23, 2012 (LBO) – Sri Lanka’s stocks fell 0.13 percent Monday, with large cap stocks losing ground, brokers said. The Colombo All Share Price Index fell 6.45 points to 4,881.77 and the S&P 20 Index of large cap stocks fell 0.24 percent (06.54 points) to 2761.90. The day’s turnover of 321 million rupees was […]
Sri Lanka in talks with IMF for longer term program
July 22, 2012 (LBO) – Sri Lanka is to begin talks with the International Monetary Fund for an ‘Extended Fund Facility’ which could result in citizens getting long term economic liberties and the implementation of prudent measures to prevent economic shocks that hurt people. A reduction of state interventions in the economy in the form […]