Category: Economy and Markets
Sri Lanka expects most FDI for infrastructure in 2012
Jan 13, 2012 (LBO) – Sri Lanka is expecting most of the two billion US dollars of foreign direct investment targeted for 2012 to flow into infrastructure with 400 million US dollars going into tourism, an official said. Head of Sri Lanka’s Board of Investment, M M C Ferdinando said about a billion US dollars […]
Sri Lanka to expand food stamps to former war zones
Jan 13, 2012 (LBO) – Sri Lanka will expand a food stamp scheme to former war zones in the east adding an estimated 100,000 families to 1. 5 million already on the scheme, deputy economic development minister Lakshman Abeywardene said. “We did not want to remove the program until their incomes are stable. “We have […]
Sri Lanka stocks up on credit hopes
Jan 12, 2012 (LBO) – Sri Lankan stocks closed 1. 3 percent higher Thursday on expectations of a credit rule relaxation by the securities regulators with illiquid and speculative stocks leading the charge, brokers said. Colombo’s benchmark All Share Index closed 77. 4 points higher at 5,942.4 points up 1.32 points while the Milanka Index […]
India to rebuild 49,000 houses in Sri Lanka with US$260mn grant
Jan 12, 2012 (LBO) – India will help rebuild 49,000 houses of war refugees and estate workers in Sri Lanka with a 260 million US dollar grant, information minister Keheliya Rambukwelle said. The Indian grant will be used in former war zones in the North and Eastern provinces of the island and in the Central […]
Sri Lanka policy rates steady, market rates up
Jan 11, 2012 (LBO) – Sri Lanka’s main policy interest rate at which cash is injected to the market will remain at 8.50 percent but an increase in market rates could help reduce money supply growth, the Central Bank said as it battles pressure on a dollar peg. Sri Lanka’s peg with the US dollar […]
Sri Lanka stocks close slightly firmer
Jan 11, 2012 (LBO) – Sri Lankan stocks closed slightly firmer Wednesday, ending a six-day losing streak although turnover remained thin with a recovery in shares and warrants of a firm which has delayed conversion for the second time, brokers said. HVA Foods was also actively traded, closing at 36.50 rupees, up 10 cents. Textured […]
Sri Lanka Treasuries yields flat for third week
Jan 11, 2012 (LBO) – Sri Lanka’s Treasury bill yields were flat for the third week running, with the 3-month yield at 8.68 percent at Wednesday’s auction with 14. 7 billion rupees of bills sold, the state debt office said. The 6-month yield was at 8.71 percent and the 12-month yield was 9. 31 percent. […]
Sri Lanka stocks fall 0.2-pct
Jan 10, 2012 (LBO) – Sri Lankan stocks weakened for the sixth straight trading day Tuesday, with investors selling off shares and warrants of a firm which has delayed conversion for the second time, brokers said. The main All Share Price Index fell 0. 17 percent (10.03 points) to 5,862.91, while the more liquid Milanka […]
Sri Lanka bonds yields below 10-pct ahead of maturity
Jan 09, 2012 (LBO) – Sri Lanka’s bond yield held below 10 percent for two to four years bonds ahead of a 50 billion tranche of long term government securities maturing on January 15, dealers said. A 01 March 2014 was quoted around 9.30/40 percent, a July 15, 2015 bond was quoted around 9.40/47 and […]
Sri Lanka stocks fall almost one percent
Jan 09, 2012 (LBO) – Sri Lankan stocks fell for the fifth consecutive trading day Monday, with shares and warrants of a firm which has delayed conversion for the second time coming under selling pressure, brokers said. Commercial Bank, in which foreign investors have been selling out, accounted for the biggest turnover of the day, […]
Sri Lanka stocks close 0.2-pct weaker
Jan 06, 2012 (LBO) – Sri Lankan stocks closed weaker Friday for the fourth day running with a private deal in a bank where foreigners have been selling out bolstering the thin turnover, brokers said. Environmental Resources Investments shares and warrants were heavily traded with the firm announcing it plans to delay conversion of warrants […]
Sri Lanka pension fund should publish annual report: legislator
Jan 06, 2012 (LBO) – Sri Lanka’s main opposition has called for the immediate publication an annual report of the island’s largest pension fund also questioned state plans for a 30-storey building using private citizens’ pension money. A pension (which involves a monthly annuity) will allow the state and rulers to control the private sector […]