Category: Economy and Markets
Sri Lanka told proper economic management key to prosperity
Mar 25, 2012 (LBO) – Proper economic management is the key to prosperity, not whether a country is resource-rich or poor, a top Japanese economist has told Sri Lanka. Price stability is also necessary for development and should be considered a priority by policymakers, said Hirohisa Kohama, professor in the faculty of international relations, the […]
Sri Lanka shares end up 1.4-pct
Mar 23, 2012 (LBO) – Sri Lankan shares closed firmed Friday with trading also improving although interest was seen mainly in low value or speculative stocks, brokers said. The main All Share Price Index rose 1. 36 percent (72.63 points) to 5,422.33, while the more liquid Milanka index rose 1. 40 percent (67.04) to close […]
Sri Lanka mulls 10-yr sovereign bond
Mar 23, 2012 (LBO) – Sri Lanka is considering issuing a 10-year sovereign bond when its debut 500 million five-year dollar bond matures this year, Treasury secretary P B Jayasundera said. The debut bond was meant to help the private and banks go for longer maturity funding, he told a news conference. The treasury is […]
Sri Lanka rupee weaker
Mar 22, 2012 (LBO) – Sri Lanka’s rupee opened firmer against the US dollar Thursday but weakened in mid-morning trade with no sign of intervention by state banks to support the currency, dealers said. It said in a statement more inflows of dollars were expected in the weeks ahead as several commercial banks raise funds […]
Sri Lanka credit growth, import demand slowing: central bank
Mar 22, 2012 (LBO) – Private sector credit growth and import demand in Sri Lanka is slowing down in response to recent policy tightening, with downward pressure on the rupee expected to ease, the central bank said. Foreign currency inflows to the country increased “substantially” in recent weeks and more was expected, as projected in […]
Sri Lanka expects rupee to stabilise below 125 to the dollar
Mar 22, 2012 (LBO) – Sri Lanka’s rupee should stabilise below 125 to the US dollar once the initial adjustment to the currency’s float and seasonal demand work their way out of the system, Treasury secretary P B Jayasundera said. The rupee has fallen sharply against the dollar and other key international reserve currencies in […]
Sri Lanka Treasuries yields rise
Mar 21, 2012 (LBO) – Yields on most Sri Lankan Treasury Bills rose at Wednesday’s auction for the roll-over of 10 billion rupees of debt, the state debt office which is part of the central bank said. Sri Lanka’s market rates have to move up according to state credit demand to help stabilize the exchange […]
Sri Lanka shares end down 0.6-pct
Mar 21, 2012 (LBO) – Sri Lankan shares closed weaker Wednesday for the second straight day with trading falling sharply and interest seen mainly in low value or speculative stocks, brokers said. The main All Share Price Index fell 0. 55 percent (29.92 points) to 5,384.10, while the more liquid Milanka index fell 1. 11 […]
Sri Lanka rupee weakens
Mar 21, 2012 (LBO) – Sri Lanka’s rupee was quoted at 130. 50/ 131.00 against the US dollar in mid-morning trade, weakening slightly from opening levels in the absence of state bank intervention, dealers said. “The rate dropped because there was no intervention,” said a dealer. “When there’s intervention the rate tends to pick. The […]
Sri Lanka shares end down 0.7-pct
Mar 20, 2012 (LBO) – Sri Lankan shares closed weaker Tuesday with turnover also falling sharply after some big deals the previous two days where foreign investors bought into two conglomerates, brokers said. The main All Share Price Index fell 0.65 percent (35.44 points) to 5,414.02, while the more liquid Milanka index fell 0.27 percent […]
Sri Lanka consumer protection activism seen weak
Mar 20, 2012 (LBO) – Sri Lankan consumer protection activism remains weak because of a lack of awareness and will, leaving consumers vulnerable to the lobbying power of big business and utilities, an official said. The Public Utilities Commission plans to step up its campaign to educate consumers this year. “After making people aware, we […]
Sri Lanka rupee steadies on state bank selling
Mar 20, 2012 (LBO) – Sri Lanka’s rupee was quoted wide at 130. 00/131.00 against the US dollar and strengthened with some state bank selling, following a steep fall a day earlier, dealers said. The rupee was quoted at 130.00/20 in mid-morning trad.