Category: Economy and Markets
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 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 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 […]
Sri Lanka stocks slump 1.5-pct to a 7-month low
July 25, 2011 (LBO) – Sri Lanka stocks slumped 1.5 percent to a seven month low, reaching with the benchmark index falling to levels last seen last on December 23, as the market corrected downwards, brokers said. The benchmark All Share Price Index closed at 6434.34, down 1.57 percent (102.91 points) while the Milanka Index […]
Sri Lanka braces for rupee flood from dollar bond
July 22, 2011 (LBO ) – Sri Lanka’s banking system is braced for a flood of rupees following the sale of a billion dollar bond but Central Bank Governor Nivard Cabraal says the groundwork to temper a shock, has already been laid. Inter-bank call money rates have also edged up above 8.0 percent in recent […]
US panel votes to bar aid to Sri Lanka
WASHINGTON, July 22, 2011 (AFP) – A US congressional committee voted Thursday to ban aid to Sri Lanka unless the nation shows “accountability” over the bloodshed in the final stages of its civil war in 2009. In a voice vote, the House Foreign Affairs Committee approved a measure that would ban all US government funding […]
Sri Lanka stocks slump almost one-pct
July 22, 2011 (LBO) – Sri Lanka share prices closed weaker Friday, falling steeply on thin turnover after rising slightly at the opening, and recovering slightly towards the end of trading, brokers said. The main All Share Price Index closed at 6,537.25, down 0.94 percent (61.72 points) while the more liquid Milanka index fell 1. […]
Sri Lanka stocks slump 1.3-pct
July 21, 2011 (LBO) – Sri Lankan stocks slumped Thursday with the main index reaching the lowest level this year and brokers saying many shares were overvalued and foreigners were getting out of the market. Recently listed Nanda Investment was the top percentage gainer and closed at 27.90 rupees, up 9.30 rupees or 50 percent. […]
Sri Lanka bond navigates market uncertainty: CB Governor
July 21, 2011 (LBO) – Strong demand for Sri Lanka’s billion dollar sovereign bond among international fund managers indicated that the country’s credit has matured in international market, Central Bank Governor Nivard Cabraal said. “It’s really a reflection of Sri Lanka’s maturity in the international markets,” Central Bank Governor Nivard Cabraal said. “In a sea […]
Sri Lanka raises one billion dollars at 6.25 percent
July 21, 2011 (LBO) – Sri Lanka raises has sold a 10-year sovereign bond at 6. 25 percent to raise one billion dollars from international markets, a source close to the deal said. Sri Lanka recently got a rating upgrade, but it is also balanced against turmoil in international bond markets, analysts said. The deal […]
” by Fitch
July 20, 2011 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar-denominated global bonds due 2021 an expected ‘BB-(exp)’ rating. “The final rating is contingent on the receipt of final documentation conforming to information already received,” it said in a statement. As the currency of settlement is specified as US dollars, the rating […]