Category: Economy and Markets
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 […]
Buyers from Sri Lanka, India, China eye lakefront land
Aug 13, 2011 (LBO) – Prime land facing a lake in Sri Lanka’s capital Colombo is being eyed by buyers from India, China as well as large local business groups that want to take part in a lakefront promenade development, an official said. A 30-year war ended in 2009 and Sri Lanka is looking forward […]
Sri Lanka stocks rebound one percent
Aug 12, 2011 (LBO) – Sri Lankan stocks rebounded one percent Friday, with an active retail and high net worth market players participation and a large acquisition boosting turnover, brokers said. Asian Alliance closed at 134.00 rupees up 12.20 rupees and over 27.58 million shares were changing hands generating 3.31 billion rupees. High net worth […]
Sri Lanka US$400mn lakefront mall by India group
Aug 11, 2011 (LBO) – Indocean Developers (Pvt) Ltd, a firm backed by an Indian property group, will build a 400 million US dollar shopping and residential complex in a prime lakefront in Sri Lanka’s capital Colombo, officials said. Janaka Kurukulasuriya, chairman of Sri Lanka’s Urban Development Authority said the Indian promoters had paid 23 […]
Sri Lanka urban agency plans Colombo JV development
Aug 11, 2011 (LBO) – Sri Lanka’s Urban Development Authority will call proposals for a joint venture commercial development in a nine acre state land in the capital Colombo, chairman Janaka Kurukulasuriya said. “We need the money urgently but we also need money in the long term to sustain,” he said. The agency has more […]
Sri Lanka sells US$166mn floating rate bonds
Aug 11, 2011 (LBO) – Sri Lanka sold 166 million US dollars of bonds based on 6-month London Interbank Offered rate extending tenors up to 5-years mainly targeting resident investors, the government’s debt office said. Called ‘development bonds’ the floating rate debt is sold mostly to domestic banks and investors allowed to have foreign exchange […]
Fed promise to print money sends oil, equities soaring
SINGAPORE, August 10, 2011 (AFP) – Crude futures soared in Asian trade Wednesday, mirroring Asian equities markets encouraged by the US Federal Reserve’s two-year commitment to keep interest rates low, analysts said. Growth was also expected to be at a “somewhat slower pace” over the coming quarters, the Fed’s Open Market Committee added, as “downside […]
Sri Lanka youth invited to attend World Bank annual meet
Aug 10, 2011 (LBO) – The World Bank has called Sri Lankans between the ages of 18 to 25 to apply to attend the lender’s annual sessions in Washington in September as ‘youth delegates’ and also interact with counterparts in the region. The World Bank and the International Monetary Fund are having their annual sessions […]
Sri Lanka stocks rebound 1.03 percent
Aug 10, 2011 (LBO) – Sri Lankan stocks closed up 1.03 percent Wednesday in a retail driven rally anticipating a relaxation of margin buying rules with property stocks being pushed further up, brokers said. Seylan Developments closed at 18.90 rupees up 1.70 rupees or 9.8 percent, with 13.5 million shares traded for 254 million rupees. […]
Sri Lanka Treasuries yields flat
Aug 10, 2011 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with 3-month bills fetching 7. 11 percent at Wednesday’s auction, the government’s debt office said. The 6-month bills were also flat at 7. 19 percent and 12-month bills were flat at 7.25 percent. The debt office, which is a unit of […]
Sri Lanka state revenues up 19.7 to May
Aug 09, 2011 (LBO) – Sri Lanka’s state revenues rose 19. 7 percent to 358.3 billion rupees in the five months to May 2011 in line with an annual targeted rate of 17. 8 percent and expenses rose 5.4 percent to 417.1 billion rupees, official data showed. But there was still a gap between current […]