Category: Economy and Markets
Sri Lanka stocks close down 0.62-pct
Nov 02, (LBO) – Sri Lanka’s stocks closed down Tuesday, dragged down by index heavy stocks like John Keells Holdings (JKH) and Hayleys, brokers said. The Colombo All Share Index dipped 0.62 percent (41.79 points) to 6,710.64 points, while the Milanka Index of more liquid stocks also dipped 0. 65 percent (47.34 points) to 7,228.91, […]
Sri Lanka Treasuries move up across maturities
Nov 02, 2010 (LBO) – Sri Lanka’s Treasury bill yields moved up between 16 to 18 basis points across maturities at Tuesday’s auction, the government’s debt office said. The spot US dollar was quoted at 111. 69/70 rupees, dealers said. The 3-month yield rose 16 basis points to 7. 29 percent, the 6-month yield rose […]
Sri Lanka stocks close up 1.11-pct
Nov 01, (LBO) – Sri Lanka’s stocks closed up Monday, with gains shown yet again in the banking sector, brokers said. The Colombo All Share Index rose 1.11 percent (74.38 points) to 6,752.43 points, while the Milanka Index of more liquid stocks rose 0.48 percent (34.48 points) to 7,276.25, according to provisional Colombo Stock Exchange […]
Sri Lanka think tank warns against reliance on foreign loans
Nov 01, 2010 (LBO) – Depending too much on foreign borrowings to fuel growth in post-war Sri Lanka can be risky, the Institute of Policy Studies (IPS), a think tank, has warned in a new report. Its annual ‘Sri Lanka: State of the Economy’ report for 2010 is devoted to an assessment of the economic […]
Sri Lanka budget slightly behind target in August
Nov 01, 2010 (LBO) – Sri Lanka’s budget performance for the first eight months of the year is broadly on track though a gap between revenues and current spending has overshot the the full year target, official data show. The revenue deficit in the budget which involves cash items such as salaries puts pressure on […]
Sri Lanka could gain 1.5-pct of GDP revenue by tightening tax holidays: IMF
Nov 01, 2010 (LBO) – Sri Lanka can gain as much as 1.5 percent of gross domestic product in revenue by limiting tax holidays, and also cut tax rates if the base is broadened, an International Monetary Fund review has said. China had a standard rate of 17 percent and got 5.8 percent. Sri Lanka […]
Sri Lanka inflation accelerates to 6.6-pct in October
Oct 29, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6.6 percent in October from a year earlier, accelerating from 5.8 percent in September, the government’s statistics office said. It was the sixth straight monthly increase in inflation and was driven largely by price increases in food and beverages. During October prices […]
Sri Lanka economist says dissent is democratic
Oct 29, 2010 (LBO) – Sri Lankan economist and opposition United National Party lawmaker Harsha De Silva has defended his criticism of government policy, saying efforts to tarnish critics were uncalled for. The newspaper said some of the recipients of the emailed note were “furious over the call for the elimination of so called ‘traitors’ […]
Sri Lanka stocks close up 1.56-pct
Oct 29, (LBO) – Sri Lanka’s stocks closed up Friday, with gains in banking sector stocks owing to buying by institutional and high-net-worth individual investors, brokers said. The Colombo All Share Index rose 1.56 percent (102.31 points) to 6,678.05 points, while the Milanka Index of more liquid stocks rose 1. 81 percent (129.07 points) to […]
Sri Lanka settles commercial bank overdrafts, Central Bank credit
Oct 29, 2010 (LBO) – Sri Lanka has settled high cost overdrafts from commercial banks and central bank credit taken to bridge the budget deficit with proceeds of a Euro bond which had contributed to excess reserves in the banking system, officials said. Record excess liquidity in the banking system which topped 80 billion rupees […]
Sri Lanka govt seeks more revenue from liquor, cigarettes
Oct 29, 2010 (LBO) – The Sri Lankan government is seeking to increase revenue for its cash-strapped Treasury by jacking up taxes on cigarettes and liquor, days ahead of the presentation of its annual budget, officials said. The tax on cigarettes has been raised by a rupee and that on a litre of 100 percent […]
Sri Lanka Treasuries edge up above repo rate
Oct 28, 2010 (LBO) – Sri Lanka’s 6 and 12 month Treasuries yields edged up above the policy ‘repo’ rate at which excess reserves in banks are deposited at the Central Bank, at this week’s auction official data show. The 12-month bill yield rose 15 basis points to 7.37 percent moving higher than the 7.25 […]