Category: Economy and Markets
Sri Lanka shares end up 0.4-pct
Mar 26, 2012 (LBO) – Sri Lankan shares closed firmer Monday with an increase in trading by foreign investors who ended up as net sellers, brokers said. The main All Share Price Index rose 0. 37 percent (20.29 points) to 5,442.62, while the more liquid Milanka index rose 0.56 percent (27.21) to close at 4,875.07. […]
Sri Lanka warns of threat to EU market access
Mar 26, 2012 (LBO) – Sri Lanka’s exports to Europe are growing despite recession there but its markets could be threatened by easier access given to competing export nations, an official said. Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka, said in 2011, Sri Lanka exported 3. 6 billion US dollars worth of […]
Sri Lanka exports fall in January, trade gap up
Mar 26, 2012 (LBO) – Sri Lanka’s exports fell 0. 6 percent to 917.7 million US dollars in January 2012 from a year earlier with a sharp drop in tea, while industrial exports grew at a sluggish 3. 3 percent, while imports powered ahead, official data showed. Exports Last year, Sri Lanka’s exports grew 22.4 […]
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 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 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 […]