Category: Economy and Markets
Sri Lanka Capital Alliance group rebranded
Oct 05, 2011 (LBO) – Capital Alliance, an investment house active in equities and fixed income markets has been re-branded as CAL from October 2011 after 11 years of operations is looking to expand further into asset management and retail financing, the company said. Capital Alliance said it has become a key player in the […]
Sri Lanka overnight rates head higher amid peg defence
Oct 04, 2011 (LBO) – Sri Lanka’s short term interest rates are heading higher as liquidity tightens in money markets and policy contradictions in forex and money markets begin to bite, dealers said. The weighted average overnight rate in the repo market, where banks and primary dealers of Treasuries sell money to each other collateralized […]
Sri Lanka maintained balance while ensuring growth: CB Governor
Oct 04, 2011 (LBO) – Policymakers must look at an economy as a whole and not focus only on certain aspects, Sri Lankan central bank governor Nivard Cabraal said. Factors like the exchange rate, interest rates, unemployment and growth were all interconnected, he told a meeting of the Asian Bankers Association in Colombo Tuesday. Concern […]
Sri Lanka stocks end down 0.9-pct
Oct 04, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday with losses in shares that had been pushed up by speculators and a newly listed finance firm being heavily traded, brokers said. The ASPI is up 2.23 percent so far this year while most other regional markets were down. The main All Share Price […]
Japan urges Sri Lanka post-war reconciliation, reconstruction
Oct 03, 2011 (LBO) – Sri Lanka should continue reconciliation and reconstruction efforts in the former war-torn regions, Japan’s envoy to Colombo said after giving more funds for de-mining. Japan’s envoy to Colombo Kunio Takahashi gave a grant of 780,000 US dollars (85 million rupees) for demining in the Sri Lanka’s north. Ambassador Kunio said […]
Sri Lanka stocks end flat
Oct 03, 2011 (LBO) – Sri Lankan stocks closed virtually flat Monday, unmoved by Sunday’s announcement of an offshore natural gas strike that could benefit firms with shipping businesses and meet local energy needs, brokers said. Regnis (Lanka), another stock which has drawn speculators, closed at 488.80 rupees, up 68.50 rupees. The main All Share […]
Sri Lanka business forum to be addressed by Vietnam President
Oct 01, 2011 (LBO) – Visiting Vietnam President Truong Tan Sang will address a business forum in Sri Lanka’s capital Colombo, where a high level delegation of Vietnamese businessmen will also be taking part, the island’s largest trade chamber said. “They are also interested in tourism projects such as eco-tourism, spiritual tourism, inbound and outbound […]
Maldives and Sri Lanka police bust bank card fraud: report
Sept 30, 2011 (LBO) – Police in Maldives and Sri Lanka have arrested five in an international fraud involving forged cash and credit cards related banks in New Zealand, Canada, Australia, China and France, a media report said. Minivan News, a Maldives based online news service quoting police inspector Mohamed Riyaz said two Maldivian nationals […]
Sri Lanka gets flood rebuilding aid from Japan
Sept 30, 2011 (LBO) – Japan is helping Sri Lanka rebuild flood damaged roads and irrigation networks and strengthen capacity to cope with future disasters through a seven billion yen (9. 0 billion rupee) project the country’s aid agency said. Japan International Co-operation Agency (JICA) which administers Japanese aid said a concessionary loan was agreement […]
Sri Lanka inflation eases to 6.4-pct in September
Sept 30, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo slowed to 6. 4 percent in September from 7.0 percent in August, though the index itself gained 0.3 percent during the month, the state statistics office said. International commodity prices have eased in recent weeks. Food and non-alcoholic beverages rose 0. 1 percent […]
Sri Lanka stocks end up 0.5-pct
Sept 30, 2011 (LBO) – Sri Lankan stocks closed firmer Friday for the second day running in speculative trade and price curbs being imposed on Singer Industries (Ceylon) after it rose sharply, brokers said. There was a sole crossing or off-market private deal of 800,000 shares of Lanka Orix Leasing Company at 99 rupees each. […]
Sri Lanka bonds unmoved by lower inflation
Sept 30, 2011 (LBO) – Sri Lanka’s bond markets closed unchanged despite 12-month inflation falling to 6.4 percent from 7.0 percent a month earlier, as liquidity tightened amid defence of a dollar peg, dealers said. A widely traded bond maturing in 2015 was quoted at 8.69/72 percent Friday and 2016s were quoted at 8.80/84 percent, […]