Category: Economy and Markets
Sri Lanka commercial forex loan repayments pile up: report
Feb 26, 2012 (LBO) – Sri Lanka is planning to raise 600 million dollars in commercial debt from the local market in 2012 mostly to roll over existing debt a media report said, not counting a 500 million dollar sovereign bond that also falls due this year. Sri Lanka’s balance of payments had come under […]
Sri Lanka shares end up 1.0-pct
Feb 24, 2012 (LBO) – Sri Lankan shares closed higher Friday on thin turnover with sharp gains seen in some illiquid stocks, brokers said. The main All Share Price Index closed up 1.07 percent (58.70 points) at 5,566.30, while the more liquid Milanka index fell 0.02 percent (0.82 points) to close at 4,802.78. Turnover fell […]
Sri Lanka Treasuries yields up
Feb 22, 2012 (LBO) – Sri Lanka’s Treasuries yields rose 20 basis points across maturities at Wednesday’s auction with the one year yield reaching 10. 19 percent, the state debt office said. The 3-month yield increased 20 basis points to 9. 51 percent and the 6-month yield rose 20 basis points to 9.64 percent. The […]
Sri Lanka shares end up 0.4-pct
Feb 21, 2012 (LBO) – Sri Lankan shares closed higher Tuesday with sharp gains seen in some illiquid stocks, while the rupee closed at 118.50/60 against the US dollar, brokers and dealers said. The rupee opened at 118.15/45 levels Monday. The main All Share Price Index closed up 0.44 percent (23.34 points) at 5,308.51, while […]
Sri Lanka to spend US$26mn on fishery fuel subsidies
Feb 21, 2012 (LBO) – Sri Lanka will spend 3. 0 billion rupees a year on fuel subsidies to fishermen to help reduce the effect of a sudden increase in fuel prices fisheries minister Rajitha Senarathe said. Last year large multi-day boats were also freed from income tax for up to five years Senaratne said. […]
Sri Lanka should cut ego boosting state expenses: legislator
Feb 21, 2012 (LBO) – Sri Lanka should cut ego boosting wasteful expenses and close down a loss-making state airline, instead of simply asking people to tighten their belts to battle a balance of payments crisis, a legislator has said. “We call upon the government to close down Mihin Lanka immediately,” Harsha de Silva, an […]
Sri Lanka state officials occupy sugar firm: listed company
Feb 20, 2012 (LBO) – State officials are occupying land of a listed Sri Lankan company, the parent firm of Pelwatte Sugar Industries told shareholders, despite it falling the outside the definition of a controversial law to expropriate citizens’ property. Citizens then had to pay taxes, but did not have property rights either, leading to […]
Sri Lanka exporter forum on flexible exchange rate
Feb 20, 2012 (LBO) – Exporters Association of Sri Lanka (EASL) will be hosting a forum on flexible exchange rates on February 28, after the Central Bank stopped large scale defence of a currency peg earlier in the month. “The Forum aims to assist Exporters understand the impact of the changeover to Flexible Exchange Rates […]
Sri Lanka slain fisherman laid to rest without security forces: report
Feb 19, 2012 (LBO) – A Sri Lankan fisherman slain by police in a protest against a sudden fuel price increase was laid to rest without the presence of the police and military but accompanied by thousands of fellow fishers, a media report said. The fisherman, Anthony Fernando, was killed by police fire in a […]
Sri Lanka rupee stronger after opening
Feb 17, 2012 (LBO) – Sri Lanka’s rupee was quoted around 118.30/50 against the US dollar in mid morning trade, up from opening and stocks rose nearly 2.0 percent before easing back, dealers and brokers said. . The rupee opened around 118.80/119.20 and strengthened against the US dollar as the currency moved to consolidate towards […]
Sri Lanka shares end marginally higher
Feb 17, 2012 (LBO) – Sri Lankan shares ended slightly higher Friday after a roller-coaster ride with heavy trading again in stocks favoured by speculators while there was also some buying into banks, brokers said. The main All Share Price Index closed up 0.12 percent (6.08 points) at 5,285.17, for the third day, after a […]
Sri Lanka rupee steady after opening
Feb 16, 2012 (LBO) – The Sri Lanka rupee opened around 119. 40/65 against the US dollar and later strengthened as much as 118. 70/119.00 after briefly dipping in early trade, dealers said. Though there is a six monthly power tarrif adjustment process through a regulator, the process had been undermined twice over the last […]