Category: Economy and Markets
Sri Lanka stocks up slightly
Jan 02, 2012 (LBO) – Sri Lankan stocks were barely changed Monday with a deal in a bank in which foreigners have been selling out propping up turnover, brokers said. York Arcade Holdings was the most actively traded stock, closing at 30.40 rupees, up 5.20 with 840,700 shares done. Transactions in Hayleys also added to […]
Sri Lanka finance ministry calls for higher rates, flexible rupee: report
Dec 30, 2011 (LBO) – Sri Lanka’s top Treasury official has called for higher interest rates and a rupee ‘flexible’ exchange rate to ward off balance of payments pressure, a media report said. “Definitely we need a correction on interest rates,” Treasury secretary P B Jayasundera was quoted as saying by Reuters, a news agency. […]
Sri Lanka December inflation rises to 4.9-pct
Dec 30, 2011 (LBO) – Sri Lanka’s inflation rose to 4.9 percent in December 2011 from a year ago, going up from 4. 7 percent in November 2011, the state statistics office said. Annual average inflation for 2011 was 6. 7 percent compared with 6.2 percent the year before, according to a 12-month moving average. […]
Sri Lanka stocks close down 0.3-pct
Dec 30, 2011 (LBO) – Sri Lankan stocks closed lower Friday for the second straight day, ending a four-day rally with trades in a bank in which foreigners have been selling out propping up turnover, brokers said. The main All Share Price Index fell 0.25 percent (14.96 points) to 6,074.42, while the more liquid Milanka […]
Sri Lanka stocks close down
Dec 29, 2011 (LBO) – Sri Lankan stocks closed lower Thursday after four days of gains with more deals in a bank dominating turnover that remained at relatively low levels, brokers said. The main All Share Price Index eased 0.07 percent (4.01 points) to 6,089.38, while the more liquid Milanka index fell 0. 19 percent […]
Sri Lanka stocks close up 1.3-pct
Dec 28, 2011 (LBO) – Sri Lankan stocks closed higher for the fourth straight day Wednesday with more deals in a bank helping to prop up turnover that fell to low levels, brokers said. The main All Share Price Index rose 1.30 percent (78.30 points) to 6,093.39, while the more liquid Milanka index rose 0.89 […]
Sri Lanka should be prepared for slow global recovery: Razeen Sally
Dec 28, 2011 (LBO) – Sri Lanka should be prepared for a slow external environment with stimulus by deficit spending having failed in advanced economies and China and India also losing momentum, an international economist said. Both Hayek and fellow Austrian economist Ludwig von Mises had seen at firsthand what money printing, deficit spending and […]
Sri Lanka Treasuries yields head higher
Dec 28, 2011 (LBO) – Sri Lanka’s Treasuries yields edged higher at Wednesday’s auction, data from the state debt office showed. The 3-month Treasury bill yield increased 10 basis points to 8.68 percent while the six-month bills went for 8. 71 percent after bid were rejected last week. The 12-month yield increased 10 basis points […]
Sri Lanka primary dealer profit falls sharply
Dec 27, 2011 (LBO) – Newly listed primary dealer Entrust Securities said net profit for the six months ended September 30, 2011 fell 80 percent to 26. 8 million rupees from a year ago. Earnings per share of the firm, the first non-bank primary dealer to be listed, slipped to 81 cents from 4.10 rupees […]
Sri Lanka stocks close up 0.5-pct
Dec 27, 2011 (LBO) – Sri Lankan stocks closed higher for the third straight day with the main index climbing back over the 6,000 point mark and large deals in a bank accounting for most of the turnover, brokers said. The main All Share Price Index rose 0. 54 percent (32.51 points) to 6,015.09, while […]
Sri Lanka expropriated high rise to state agencies: report
Dec 26, 2011 (LBO) – A partially built high rise building in Sri Lanka’s capital Colombo which will be taken over and completed by a consortium of state entities following its expropriation, a media report said. Celestial Residencies, a building initiated by the troubled Ceylinco group where construction was halted will be completed with 9.2 […]
Sri Lanka forex reserves down 15-pct in October
Dec 24, 2011 (LBO) – Sri Lanka’s forex reserves fell 14. 8 percent off a high reached in July to 6,896 million US dollars by October 2011, as the island’s soft-dollar peg continued to be pressured, official data showed. Sri Lanka ‘sterilizes’ interventions to control the interest rate. A monetary regime in which both the […]