Category: Economy and Markets
Sri Lanka stocks close up 0.4-pct
Feb 29, 2012 (LBO) – Sri Lanka’s stock closed up 0.49 percent Wednesday, with turnover boosted by the change of control of motor dealers, though market participants are still getting used to a new trading system, brokers said. The Colombo All Share Index rose 0. 49 percent to 5,458.09 points up 26.42 points while the […]
Sri Lanka Treasuries yields up, bonds lower
Feb 29, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction though bond yields were pushed down by state managed fund, ahead of a 51 billion rupee rollover due on Thursday, dealers said. The state debt office said the 3-month yield rising 30 basis points to 9. 81 percent, the 6-month […]
Sri Lanka may see tyranny of markets to be worse than IMF, World Bank
Feb 28, 2012 (LBO) – The pain imposed by the tyranny of markets could be much greater than adjustments caused by the International Monetary Fund or World Bank, an economist has warned. The Ceylon Electricity Board, which had to generate large amounts of thermal power from the second quarter of 2011 due to failed rains […]
Sri Lanka shares end down 0.8-pct
Feb 28, 2012 (LBO) – Sri Lankan share prices fell Tuesday for the second day after a seven-day rally, with turnover boosted by large deals in Aitken Spence, brokers said. The main All Share Price Index closed down 0.82 percent (44.92 points) at 5,431.67, while the more liquid Milanka index fell 0.71 percent (33.96 points) […]
Sri Lanka Hayleys knitting mill no longer rated: Fitch
Feb 28, 2012 (LBO) – Fitch Ratings said it was withdrawing Hayleys MGT Knitting Mills Plc’s ‘BBB(lka)’ rating soon after it stopped ratings its parent, Hayleys Plc. “Fitch Ratings Lanka has withdrawn Hayleys MGT Knitting Mills PLC’s (HMGT) ‘BBB(lka)’ National Long-Term rating with a Negative Outlook,” Fitch said in a statement. “On the basis of […]
Sri Lanka rupee opens weaker
Feb 28, 2012 (LBO) – Sri Lanka’s rupee was quoted as low as 122.50/123.00 against the US dollar in early trade Tuesday weakening from Monday’s close of 121. 30/50 rupees, before recovering, dealers said. The rupee recovered to 121.30/50 rupees later. The rupee was floated earlier in February after it came under pressure from strong […]
Sri Lanka rupee recovers on state bank selling
Feb 28, 2012 (LBO) – Sri Lanka’s which was quoted as low as 122. 50/123.00 against the US dollar in early trade Tuesday recovered on state bank dollar sales which pushed the rupee to 121. 00 levels, dealers said. The rupee recovered to 121.30/50 rupees later. The rupee was floated earlier in February after it […]
Sri Lanka exports top US$10bn, record growth in 2011
Feb 27, 2012 (LBO) – Sri Lanka’s exports topped 10 billion US dollars in 2011 growing at above 20 percent, a threshold achieved only on eight occasions since 1951, which exporters have reached for two years running. Sri Lanka’s exporters have shipped 10,486.9 billion US dollars worth goods in 2011, up 22.4 percent from a […]
Sri Lanka shares end down 1.6-pct
Feb 27, 2012 (LBO) – Sri Lankan share prices fell Monday, ending a seven-day rally, with turnover also lower and sharp fluctuations in some illiquid stocks, brokers said. The main All Share Price Index closed down 1.61 percent (89.71 points) at 5,476.59, while the more liquid Milanka index fell 1.03 percent (49.39 points) to close […]
Sri Lanka rupee trades weaker
Feb 27, 2012 (LBO) – Sri Lanka rupee was quoted as low as 121. 05/121.25 levels against the spot US dollar in intra-day trade Monday after opening at around Friday’s close of 119. 90/120.20 dealers said. Analysts have called for rates to be allowed to move up, to keep the exchange rate steady. Update II […]
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 […]