Category: Economy and Markets
Sri Lanka stocks close up one percent
Dec 23, 2011 (LBO) – Sri Lankan stocks closed higher for the second straight day after several days of losses with turnover boosted by deals in index heavyweight John Keells Holdings and Commercial Bank, brokers said. The main All Share Price Index rose 1. 07 percent (63.23 points) to 5,982.58, while the more liquid Milanka […]
Sri Lanka to collaborate with Japan, China for oceanography
Dec 22, 2011 (LBO) – Sri Lanka is collaborating with Japan and China to study oceanographic conditions and weather in the Indian Ocean, the head of the island’s aquatic resources agency said. Jayewardene said the Chinese were interested in the origination of monsoon off the shores of Sri Lanka which will help the country understand […]
Sri Lanka state enterprise workers to get bonus
Dec 22, 2011 (LBO) – Workers of Sri Lanka’s state enterprises will get a 7,500 rupee bonus, but those in loss making enterprises will get less, information minister Keheliya Rambukwelle said. Sri Lanka’s state enterprises were set up over several decades as Sri Lanka’s rulers tried to do business with people’s tax money. Though state […]
Sri Lanka military to renovate key locations in Colombo
Dec 22, 2011 (LBO) – Sri Lanka’s military will renovate key locations in the capital Colombo as part of continued efforts to modernize the city, under a master plan of the country’s urban development agency, minister Keheliya Rambukwelle said. “The construction work will be entrusted to the engineering services divisions of the Sri Lanka Army, […]
Sri Lanka stocks close up 1.3-pct
Dec 22, 2011 (LBO) – Sri Lankan stocks closed higher after several days of losses albeit in thin turnover as most investors kept away as is usual towards the year-end, brokers said. The main All Share Price Index rose 1.31 percent (76.52 points) to 5,919.35, while the more liquid Milanka index rose 1.56 percent (79.56 […]
Sri Lanka money off highs ahead of cash auction
Dec 22, 2011 (LBO) – Sri Lanka’s overnight money markets came off highs reached a day earlier to stay around 9. 25/30 levels after authorities announced a 20 billion rupee cash auction, dealers said. Gilt backed repurchase deals were quoted around 8. 25/35 percent. On Wednesday money reached 9.75 percent and repos rose 8.45 percent. […]
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 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 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 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 0.2-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 […]