Category: Economy and Markets
Sri Lanka Treasuries yields head higher
Dec 21, 2011 (LBO) – Sri Lanka’s Treasuries yields edged higher amid rejections of market bids at Wednesday’s auction, data from the state debt office showed, as the Central Bank’s own portfolio of bills continued to go up. The 3-month Treasury bill yield increased 15 basis points to 8.58 percent and the 12-month yield increased […]
Sri Lanka overnight rates spike to new high
Dec 21, 2011 (LBO) – Sri Lanka’s overnight money rates spiked over 9. 75 percent and gilt backed repurchase deals touched 8.45 percent Wednesday amid defence of a dollar peg and festival demand for cash, dealers said. But in December there is also a seasonal demand of cash during the Christmas and New Year holiday […]
Sri Lanka stocks close down 0.16-pct
Dec 21, 2011 (LBO) – Sri Lankan stocks slipped further Wednesday in a continuing slide in thin turnover with the regulator postponing an anticipated decision to allow brokers to give more credit for trading, brokers said. The main All Share Price Index fell 0.16 percent (9.11 points) to 5,842.83, while the more liquid Milanka index […]
Sri Lanka economy grows 8.4-pct in 3Q: statistics office
Dec 21, 2011 (LBO) – Sri Lanka’s economy grew 8. 4 percent in the third quarter of 2011 from a year earlier, slightly higher than the 8.2 percent reported in the second quarter, the state statistics office said. The economy grew 8.0 percent in the third quarter of last year. Sri Lanka’s Central Bank Governor […]
Sri Lanka stocks close down 0.2-pct
Dec 20, 2011 (LBO) – Sri Lankan ended weaker Tuesday, unable to sustain an opening rally in thin turnover, with sharp losses in illiquid shares, brokers said. The main All Share Price Index fell 0.15 percent (9.02 points) to 5,851.94, while the more liquid Milanka index fell 0.34 percent (17.16 points) to close at 5,088.25. […]
” rating confirmed: Fitch
Dec 20, 2011 (LBO) – Fitch Ratings has confirmed an ‘A(lka)’ rating of Singer (Sri Lanka) Plc, with a stable outlook based on it being one of the largest consumer durable retailers and a pickup in business. Fitch said a cut in taxes had reduced grey-market activities in consumer durables and lower inflation and interest […]
Sri Lanka should boost international relations for progress: Razeen Sally
Dec 20, 2011 (LBO) – Sri Lanka should strengthen relations with the West and India and expand economic freedoms to boost foreign direct investments and exports, an economist who is a specialist in international trade said. “There is every argument to diversify exports,” Sally said. “That should be done with utmost vigor. But it will […]
Sri Lanka stocks down 25-pct from peak
Dec 19, 2011 (LBO) – Sri Lanka stocks closed 0. 5 percent lower Monday down 25 percent from a peak earlier in the year with steep corrections in several illiquid stocks, brokers said. The Colombo All Share Index shed 31.7 points to close at 5,860.9, down 0.54 percent and the Milanka Index of more liquid […]
Sri Lanka money tight, stocks open weaker
Dec 19, 2011 (LBO) – Sri Lanka’s money markets were tight with overnight gilt backed cash trading around 7.75/8.00 percent and call money at 8. 75/9.00 percent and stocks opened weaker in thin liquidity, brokers and dealers said. But a 2015 July bond was quoted lower at 9.90/95 percent, in a slight anomaly, dealers said. […]
Sri Lanka policy rates kept steady, market rates up: CB
Dec 16, 2011 (LBO) – Sri Lanka’s active polity rate at which cash is injected to the market would be maintained at 8.50 percent, the Central Bank said, as defence of a dollar peg pushed market rates up. The central banks said the trade deficit was higher this year. The central bank said there would […]
Sri Lanka stocks slide 0.8-pct
Dec 16, 2011 (LBO) – Sri Lankan stocks sagged further Friday in a deepening slide that saw the main index dip below 5,900 points in thin turnover, brokers said. The main All Share Price Index fell 0.82 percent (48.63 points) to 5,892.69, while the more liquid Milanka index fell 1.08 percent (56.29 points) to close […]
Sri Lanka money rates spike
Dec 16, 2011 (LBO) – Sri Lanka’s overnight money rates spiked Friday amid liquidity shortages from peg defence and seasonal demand, prompting a 10 billion rupee cash auction by monetary authorities, dealers said. Overnight gilt backed repos rose as much as 8.35 percent and eased to 7.75/8.00 percent levels after a cash injection through a […]