Category: Economy and Markets
Sri Lanka aims for better rating before $1 bln bond sale
May 21, 2011 (AFP) – Sri Lanka is hoping for a better credit rating to boost its plans to sell a $1 billion sovereign bond this year, an official said Saturday, ahead of a visit by ratings agencies. The Central Bank’s deputy governor Dharma Dheerasinghe said the agencies, Standard and Poor’s, Fitch and Moody’s, will […]
Sri Lanka war-torn regions to show highest nominal growth: CB Governor
May 21, 2011 (LBO) – Sri Lanka former war-torn has shown the highest nominal growth among all regions (before inflation adjustment) after the end of a 30-year war and the momentum is expected to continue, Central Bank Governor Nivard Cabraal said. The war in the north ended in May 2009, but military activities in the […]
Sri Lanka shares end down 0.11-pct
May 20, 2011 (LBO) – Sri Lankan shares closed weaker Friday despite a strong opening after rallying the day before when a deadline to clear broker credit was extended to the end of the year, brokers said. The main All Share Price Index closed at 7,479.63, down 0.11 percent (7.98 points) while the more liquid […]
Sri Lanka shares up 1.75-pct
May 19, 2011 (LBO) – Sri Lankan shares rose strongly Thursday following a widely anticipated announcement by the markets regulator that the margin trading credit settlement period had been extended again, brokers said. The main All Share Price Index closed at 7,487.61, up 1.75 percent (128.92 points) while the more liquid Milanka index rose 1.19 […]
Top Fed official says core inflation should be dumped
May 19, 2011 (LBO) – A top US central banker has suggested that the Federal Reserve drop ‘core inflation’, a sham index that has been used to deceive people for decades and fire economic bubbles by setting a deceptive target that understates actual price rises. Core inflation excludes prices of food and energy and represents […]
Sri Lanka Treasuries yields steady
May 16, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at the weekly auction, brought forward to Monday owing to religious holidays in the next two days, according to the government’s debt office. The yield on three-months bills edged up to 7. 07 percent from 7.06 percent, that on six month bills rose to […]
Sri Lanka holds policy interest rates
May 16, 2011 (LBO) – Sri Lanka’s central bank said it is holding policy rates steady as last month’s hike in the reserve ratio was effective in draining excess liquidity and inflation was likely to fall from next month. Inflation, as measured by the year-on-year change in Colombo Consumers’ Price Index (CCPI) hit 9.8 percent […]
Sri Lanka shares up 0.5-pct
May 16, 2011 (LBO) – Sri Lankan shares made a comeback Monday, boosted by encouraging first quarter earnings and anticipation the regulator would further relax the margin trading credit settlement period, brokers said. The main All Share Price Index closed at 7,358. 69 up 0.53 percent (38.75 points) while the more liquid Milanka index up […]
Sri Lanka hotels mull rupee pricing to avoid exchange rate risk
May 14, 2011 (LBO) – A volatile rupee against the Sterling Pound and Euro has made forward pricing a risky business for Sri Lanka’s tourism sector which wants to price hotels in the local currency to avoid exchange rate risk, a senior executive from John Keells Holdings said. However despite economic problems in the PIG […]
Sri Lanka shares up 0.3-pct
May 13, 2011 (LBO) – Sri Lankan stocks closed mixed in dull trade with the market with Nation Lanka Finance the highest contributor to the day’s turnover, brokers said. The main All Share Price Index closed at 7,319. 94 up 0.26 percent (19.12 points) while the more liquid Milanka index down 0. 11 percent (7.33 […]
Sri Lanka stocks close up 0.3-pct
May 12, 2011 (LBO) – Sri Lankan stocks recovered slightly Thursday although trading was dull throughout the day, brokers said. Commercial Bank saw a crossing of 500,000 shares at 260 rupees per share. The main All Share Price Index closed at 7,300. 82, up 0.28 percent (20.16 points) while the more liquid Milanka index rose […]
Sri Lanka govt expands overstaffed public service
May 12, 2011 (LBO) – Sri Lanka’s government has created a new service within an already bloated public service to give jobs to 15,000 unemployed graduates and another 15,000 youth, a statement said. The Cabinet of ministers has approved a proposal to establish a ‘Sri Lanka Development Officers’ Service’ and a ‘Sri Lanka Development Assistants’ […]