Category: Economy and Markets
Sri Lanka stocks up 0.2-pct, speculative trading rise
Aug 18, 2011 (LBO) – Sri Lanka stocks closed flat Thursday with an active retail and high net worth investor participation and more speculative trading, brokers and analysts said. Colombo’s benchmark All Share Price Index closed up 16.74 points or 0.24 percent at 7,030.85 while the Milanka Index of liquid stocks closed down 0.42 percent […]
” rating
Aug 18, 2011 (LBO) – Sri Lanka’s John Keells Holding’s ‘AAA(lka)’ rating with a stable outlook was confirmed by Fitch Ratings which said the its gearing at holding company was low and dividends from operating units were strong. JKH’s record in funding acquisitions and expansion with a combination of pre-issued equity and retained profits helped […]
World population will reach 7 billion this year: study
PARIS, August 17, 2011 (AFP) – The world population will reach seven billion later this year, with increases in the number of people in Africa off-setting birth rate drops elsewhere, according to a new French study published Thursday. “It has increased seven-fold over the last two hundred years, topping seven billion in 2011, and is […]
Sri Lanka Treasuries yields flat
Aug 17, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with 3-month bills yields 7.11 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield was flat at 7.19 percent and 12-month yield was 7.25 percent. The government said it had sold 3.5 billion rupees in 3-month bills, […]
Sri Lanka Pan Asia banks to sell 5-year bonds
Aug 17, 2011 (LBO) – Sri Lanka’s PABC Bank will sell 5-year bonds to raise two billion rupees to boost regulatory capital amid strong loan growth, Fitch Ratings Lanka which rated the securities ‘BBB-(lka)’ said. Pan Asia Bank itself is rated one level higher. Both are investment grade ratings. The subordinated bonds, which will be […]
Sri Lanka stocks down 0.5-pct
Aug 17, 2011 (LBO) – Sri Lanka stocks closed 0.5 percent lower Wednesday as euphoria over a relaxed credit rule eased but punters chased a few speculative stocks, brokers said. The stock traded at 86 times annualized quarterly profits of 30 cents a share. Panasian Power closed at 5.20 rupees up 40 cents or 8.33 […]
‘s home town
HAMBANTOTA, August 17, 2011 (AFP) – When the 2004 Asian tsunami hit Sri Lanka, the sleepy fishing region of Hambantota was flattened and 3,000 people perished. Now it is riding a massive wave of construction. Hambantota, the home constituency of President Mahinda Rajapakse, is not only emerging as a commercial and logistics hub of Sri […]
Sri Lanka central bank relaxes forex controls
Aug 17, 2011 (LBO) – Sri Lanka’s central bank has relaxed some exchange controls allowing citizens and foreign residents to engage in a series of forex transactions without seeking permission from the state, improving economic freedoms. The Central Bank of Sri Lanka said the new moves would “enhance investor confidence, strengthen the foreign reserves in […]
Sri Lanka stocks soar 3-pct on margin rule
Aug 16, 2011 (LBO) – Sri Lanka stocks closed up 3. 1 percent with the regulator saying brokers could give margin facilities to clients, and the benchmark index moved above 7,000 points, in a five week high brokers said. Colombo’s benchmark All Share Price Index close up 3. 13 percent or 214.21 points at 7,050.74 […]
Sri Lanka cement supplies disrupted amid price controls
Aug 16, 2011 (LBO) – Sri Lanka’s cement supplies remain disrupted amid price controls and posturing by rulers and the co-operative sector involved in another controversy, in a repetition of a similar debacle in the poultry sector. The Daily Mirror newspaper said Monday three cement firms have written to Sri Lanka’s consumer affairs agency which […]
Sri Lanka stocks flat amid estate, poultry sell-off
Aug 15, 2011 (LBO) – Sri Lankan stocks closed flat on Monday a sell-off of plantations and poultry firms which have reported weak earnings, though some index heavy stocks gained, brokers said. Colombo’s benchmark All Share Price Index close up 0.05 percent or 3.47points at 6,836.53 while the Milanka Index of liquid stocks closed up […]
Sri Lanka sells 400mn dollars in July to keep peg
July 15, 2011 (LBO) – Sri Lanka’s central bank has sold 416. 9 million US dollars in July to maintain a peg with the US dollar amid high credit growth that is drawing down excess rupee reserves in banks, official data showed. High credit growth in the banking system is has rapidly exhausted excess rupee […]