Category: Economy and Markets
Sri Lanka stocks up 0.3-pct
June 24, 2011 (LBO) – Sri Lankan stocks rebounded slightly Friday after four consecutive days of falls, mainly due to slight price increases of high market capitalization stocks, brokers said. Friday’s other notable crossing was 2,454,260 shares of Reefcomber Hotel at 80 rupees each. The All Share Price Index closed at 6,892.56, up 0.30 percent […]
Sri Lanka defence expenses upped
June 24, 2011 (LBO) – Sri Lanka has asked parliament permission to increase the money allocated for defence expenses for 2011 by 20 billion rupees to build a new headquarters for the military, a media report said. Some military facilities on prime land in Sri Lanka’s capital Colombo had been cleared for commercial development with […]
Sri Lanka appoints four foreign banks to manage bond issue
June 23, 2011 (LBO) – Sri Lanka’s Central Bank has appointed Bank of America Merrill Lynch, Barclays Capital, Hongkong and Shanghai Banking Corp, and Royal Bank of Scotland as joint lead managers to advise and handle a future international sovereign bond issue. “There is no doubt in anyone’s mind about Sri Lanka’s performance so we […]
Sri Lanka stocks end down 0.8-pct
June 23, 2011 (LBO) – Sri Lankan stocks closed 0. 81 percent lower Thursday with heavy trading in Blue Diamonds Jewellery Worldwide on news of buying by Sri Lanka Insurance-General fund, brokers said. Brokers said investors are now moving away from high market capitalization, low return shares to low market capitalization but high return penny […]
Sri Lanka to get US1.5bn from China bank
June 23, 2011 (LBO) – China Development Bank Corporation has agreed to finance infrastructure projects in Sri Lanka amounting 1.5 billion US dollars over the next three years, minister Anura Yapa said. China is becoming a key financier of Sri Lanka displacing traditional donors, Japan and the Asian Development Bank. “The financial assistance will be […]
Sri Lanka Treasuries yields steady
June 22, 2011 (LBO) – Sri Lankan Treasury bill yields were steady at this week’s auction with only the six-month bills edging up slightly, the government’s debt office, which is a unit of the central bank, said. The 3-month yield held steady at 7. 12 percent, while the 6-month yield rose one basis point to […]
Sri Lanka stocks end down 1.0-pct
June 22, 2011 (LBO) – Sri Lankan stocks closed almost 01 percent lower Wednesday with continuous forced selling of client portfolios where the margin provided is in excess of 50 percent, brokers said. The Colombo Fort Land closed at 78.50 rupees down 40 cents or 0.51 percent with a solitary crossing of 250,000 shares at […]
Sri Lanka stocks end down 0.6-pct
June 21, 2011 (LBO) – Sri Lanka stocks closed 0.63 percent lower Tuesday with continuous forced selling due to credit restrictions on users, brokers said. The All Share Price Index closed at 6996.64, down 0.63 percent (44.04 points) while the Milanka Price Index of more liquid stocks closed at 6571. 34, down 0.48 percent (31.86 […]
Sri Lanka bond market need price transparency, champion: industry
June 21, 2011 (LBO) – Sri Lanka’s corporate bond markets needed price transparency, a ‘champion’ to push for trading infrastructure and formal regulation of intermediaries may also be needed, market participants have said. Maninda Wickramasinghe, head of Fitch Ratings Lanka, and an a former head of a bond house said the corporate bond market needed […]
Sri Lanka sells US$126mn in floating rate bonds
June 21, 2011 (LBO) – Sri Lanka has sold 126. 5 million US dollars worth three and four year dollar bonds, with floating rates based on the 6-month London interbank offered rate, the government’s debt office said. The government offered 100 million US dollars in bonds for sale and offers for 134. 5 million were […]
Sri Lanka looks to expand economic links with Russia
June 21, 2011 (LBO) – Sri Lanka is expanding economic ties with Russia as the country looks to rebuild its economy after a 30-year war with a large state run firm being invited for talks on the oil and gas sectors and air links resuming, officials said. President Mahinda Rajapaksa attended an economic forum in […]
Sri Lanka stocks end weaker
June 20, 2011 (LBO) – Sri Lankan stocks closed 0. 13 percent lower Monday with continuous forced selling due to credit issues, brokers said. The All Share Price Index closed at 7,040.68, down 0.13percent (9.35 points) while the Milanka Price Index of more liquid stocks closed at 6,603. 20, up 0.04 percent (2.33 points), according […]