Category: Economy and Markets
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 […]
Sri Lanka 2011 economic growth, inflation on target: CB Governor
Dec 15, 2011 (LBO) – Sri Lanka’s 2011 economic growth is likely to come slightly below an earlier expected 8. 3 percent and inflation will be below 6. 0 percent, Central Bank Governor Nivard Cabraal said. “Growth may be a little below 8. 3 percent,” Cabraal said. “But it will be higher than 8.0 percent.” […]
” for Indian industry
Dec 15, 2011 (LBO) – Sri Lanka is considered as a priority country for investment by Indian industry, the head of a visiting business mission from the Confederation of Indian Industry (CII) has told the island government. The 13-member CII mission’s main business interests were IT/BPO, auto components, metal and plastic products, electronic and engineering […]
Sri Lanka stocks end down 0.2-pct
Dec 15, 2011 (LBO) – Sri Lankan stocks ended weaker Thursday with some deals seen in companies seen to have strong fundamentals although turnover remained thin, brokers said. The main All Share Price Index fell 0.16 percent (9.67 points) to 5,941.32, while the more liquid Milanka index fell 0.72 percent (37.48 points) to close at […]
Sri Lanka 3-month Treasuries up, other bids rejected
Dec 14, 2011 (LBO) – Sri Lanka’s 3-month Treasuries yield increased 15 basis points to 8.43 percent at Wednesday’s auction while the state debt office rejected bids for other maturities. The state offered 10 billion rupees of bills for re-issue and accepted only 4. 7 billion rupees of bids. Six and 12-month bids were rejected. […]
Sri Lanka stocks close 0.7-pct
Dec 14, 2011 (LBO) – Sri Lanka’s stocks closed 0. 7 percent Wednesday amid thin trading while bond yields edged up, dealers and brokers said. Colombo’s benchmark All Share Index fell 43.6 points to 5,950.99 points and the Milanka Index of more liquid stocks fell 39.2 points to 5,228.4 points or 0.75 percent. Asha Central […]
Sri Lanka crate law stirs protest
Dec 14, 2011 (LBO) – Sri Lanka’s fresh produce trade including farmers and collectors rioted in several parts of the country amid police tear-gas after authorities started arresting citizens for transporting vegetables without plastic crates. The protests also underline deep flaws in the country’s policy and lawmaking, critics say. On Wednesday vegetable shops in the […]