Category: Economy and Markets
Sri Lanka holds policy rates amid high inflation
Mar 08, 2011 (LBO) – Sri Lanka’s central bank said it is holding policy rates steady in despite inflation rising to 7. 8 percent in the 12-months to February, one of the highest in Asia, as it expected food prices to fall in the next two months. Sri Lanka’s central bank also has one of […]
Sri Lanka has lower social unrest risk from inflation: S&P
Mar 08, 2011 (LBO) – Sri Lanka is among Asian countries that had lower risks of social unrest from high inflation due to popular administrations, higher growth and lower unemployment, Standard and Poor’s Corporation, a rating agency said. S & P said in a sovereign rating review of the Asia Pacific region that inflation has […]
Sri Lanka sells US$192mn in floating rate bonds
Mar 08, 2011 (LBO) – Sri Lanka has sold 192 million US dollars in three and four year dollar denominated bonds mainly targeting local investors, rolling over existing maturing debt issued at much higher rates. In March 2009 in the midst of a balance of payments crisis, Sri Lanka had to pay 540 basis points […]
Sri Lanka stocks tumble on selling to raise cash for IPOs
Mar 07, 2011(LBO) – Sri Lankan stocks fell sharply Monday with investors selling to make way for the forthcoming Initial Public Offerings, brokers said. The All Share Price Index closed at 7,582.55, down 1.07 percent (82.17 points) while the Milanka Price Index of more liquid stocks closed at 7,582.55, down 0.19 percent (13.55 points), according […]
Sri Lanka had net inflows into capital markets in 2010: CentralBank
Mar 07, 2011 (LBO) – Sri Lanka’s has seen a net capital inflow of 51.8 billion rupees (459 million US dollars) into the country through approved securities investments accounts the Central Bank said. The central bank’s exchange control department in 2010 there had been an inflow of 215.9 billion rupees (1,910 million US dollars in […]
Sri Lanka forex reserves $6.6bn in January
Mar 06, 2011 (LBO) – Sri Lanka’s foreign reserves were 6. 6 billion US dollars by end January 2011, the same level as in December, the Central Bank said, as trade and economic activity expanded. The central bank said the reserves were equal to 5.9 months of imports of the past 12 months of 1,108 […]
Sri Lanka stocks 1.91-pct higher
Mar 04, 2011(LBO) – Sri Lankan stocks rose sharply Friday, recovering some of Thursday’s losses, helped by a large crossing of Lanka Hospital and institutional, high-net-worth and retail trading, brokers said. The All Share Price Index closed at 7,664. 72, up 1. 91 percent (143.98 points) while the Milanka Price Index of more liquid stocks […]
Sri Lanka stocks tumble 2.34-pct
Mar 03, 2011(LBO) – Sri Lankan stocks fell sharply Thursday with losses seen across the board including in index heavy stocks in retail-driven trading, brokers said. In November 2010, the Securities Exchange Commission said it has extended a deadline to cut credit given by brokers to their clients by six months to June 2011, with […]
Sri Lanka to revamp tax concessions for investors: minister
Mar 03, 2011 (LBO) – Sri Lanka’s government is preparing new laws to speed up investment approvals with existing tax breaks by the investment promotion agency being abolished, a minister said. The war ended nearly two years ago enabling the government to end tax concessions that had caused heavy revenue losses. “We have brought a […]
” with current rates, despite inflation, forex pressure
Mar 03, 2011 (LBO) – Sri Lanka is comfortable with current interest rates, Central Bank governor Nivard Cabraal said despite a spike in consumer prices to a two year high and an outflow of foreign reserves. Sri Lanka has some of the highest policy rates in the world at 7. 00 percent to drain excess […]
Sri Lanka coast guard beefs up surveillance with new boat
Mar 02, 2011 (LBO) – Sri Lanka’s fledgling coast guard took delivery of a patrol craft built by the navy that will help combat poaching and human smuggling and better protect economic resources, officials said. The 14.5-metre fibre-glass boat was built by the navy largely for shallow water patrolling, making use of facilities that built […]
Sri Lanka shares close 1.24-pct lower
Mar 01, 2011(LBO) – Sri Lanka stocks closed 1. 24 percent lower Tuesday with losses in the illiquid shares and some index heavy stocks, brokers said. The All Share Price Index closed at 7,701.19, down 1.24 percent (96.77 points) while the Milanka Price Index of more liquid stocks closed at 7,096. 56, down 0.62 percent […]