Category: Economy and Markets
Sri Lanka stocks lose steam
Aug 01, 2011 (LBO) – Sri Lanka’s share market lost steam Monday, closing slightly higher with interest in poultry stocks after a roller-coaster ride following last week’s rally on expectations the regulator would relax credit rules, brokers said. The main All Share Price Index closed at 6,854.14, up 0.13 percent (8.76 points) while the more […]
Sri Lanka inflation accelerates to 7.5-pct in July
July 29, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo accelerated to 7.5 percent in July from 7.1 percent in June, with prices rising 0.4 percent during the month, the government’s statistics office said. Non-food items in the basket rose 1.4 percent and food and non-alcoholic beverages fell 0.8 percent. Sri Lanka’s inflation […]
Sri Lanka tractor firm expects brisk sales in the north
July 29, 2011 (LBO) – Sri Lanka’s Brown & Company, which claims market leadership in agricultural tractors, said it expected sales of around 1,000 units in the next six months with 45 percent coming from former war-torn areas. Sri Lanka Insurance chief executive Mohan de Alwis said the firm was looking to expand its insurance […]
Deaf Sri Lankans protest for equal rights
July 29, 2011 (LBO) – Hundreds of deaf Sri Lankans took to the streets on Friday demanding equal rights and more people to translate sign language so they can have better access to medical and other services. The peaceful march in Colombo ended after the organisers were allowed to walk to Sri Lankan President Mahinda […]
Sri Lanka stocks up 2.88-pct
July 29, 2011 (LBO) – Sri Lankan stocks closed sharply higher Friday, as bullish momentum continued for the fourth straight day, with active retail participation, brokers said. The benchmark All Share Price Index ended up 2. 88 percent or 191.81 points at 6,845.38 , while the Milanka Index of more liquid stocks closed up 2. […]
Sri Lanka stocks up 2.28 percent
July 28, 2011 (LBO) – Sri Lankan stocks closed up for the third straight day, boosted by better banking sector earnings and expectations of relaxed broker credit rules despite profit taking on recently listed finance companies, brokers said. Lankem Developments said it had bought a 61.88 stake in Agarapatana Plantations for 1185 million rupees. Swarnamahal […]
Sri Lanka Treasuries yields flat
July 27, 2011 (LBO) – Sri Lanka Treasuries yields were flat at Wednesday’s auction with yields flat across maturities, data from the government’s debt office said. The 3-month yield was at 7.11 percent, the 6-month yield was at 7. 19 percent and the 12-month yield was at 7. 25 percent, unchanged from a week earlier. […]
Sri Lanka stocks close up 0.18-pct
July 27, 2011 (LBO) – Sri Lankan stocks close up for the second straight day, with recently listed Swarnamahal Financial Services, dominating trading brokers said. The benchmark All Share Price Index up 0.18 percent or 11.98 points to 6,505.56, while the Milanka Index of more liquid stocks closed up 0.26 percent (0.57 points) to 5,943.91, […]
Sri Lanka foreign reserves move towards US$8bn
July 26, 2011 (LBO) – Sri Lanka’s foreign reserves would be close to eight billion US dollars after proceeds from a billion dollar sovereign bond comes to the country, Central Bank Governor Nivard Cabraal said. The balance is expected to be disbursed in two tranches after reviews in September and March. By end May Sri […]
Sri Lanka inflation panic level above 7.0-pct: Treasury secretary
July 26, 2011 (LBO) – Sri Lanka should keep inflation below 7. 0 percent to ensure economic stability Treasury Secretary P B Jayasundera said, as lower levels of inflation may be beyond the capacity of economic policies to deliver. Additional inflation is created by central bank credit, such as liquidity facilities given to banks or […]
Sri Lanka stocks recover losses
July 26, 2011 (LBO) – Sri Lankan stocks recouped some losses Tuesday after falling to a seven month low a day earlier, and debutant Browns Investments closed below its initial offer price amid active trading, brokers said. The benchmark All Share Price Index edged up 0.92 percent or 59.24 points to 6,493.58, while the Milanka […]
Sri Lanka stocks slump to seven-month low
July 25, 2011 (LBO) – Sri Lanka share prices fell steeply Monday to a seven-month low after a brief rally in the morning to close more than 100 points lower on continued selling pressure, brokers said DFCC Bank closed at 127.50 rupees, down 2.50 with 555,800 shares traded, including a single crossing or off-market private […]