Category: Economy and Markets
Sri Lanka inflation accelerates to 5.8-pct in September
Sept 30, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5. 8 percent in September from a year earlier, accelerating from 5.0 percent in August, the government’s statistics office said. “What is important here is that we have not only been able to deal with inflation, but we have also been able […]
Sri Lanka stocks close up 0.97-pct
Sept 30, 2010 (LBO) – Sri Lankan shares edged higher Thursday, near the 7,000 point mark on the benchmark index once again, as falling interest rates pushed more money into shares, brokers said. The All Share Price Index closed at 6,997.22, up 0.97 percent (67.31 points) while the more liquid Milanka index rose 2.79 percent […]
Sri Lankan stocks close up 1.23-pct
Sept 29, 2010 (LBO) – Sri Lankan shares regained some lost ground Wednesday while regulators imposed a price band on two more stocks to curb price volatility, brokers said. MTD Walkers closed at 585.00 rupees, up 23.20 (4.13 percent) with 3,100 shares traded, and Singalanka Standard Chemicals at 220. 00 rupees, up 45.00 (25.71 percent) […]
Sri Lanka urban bonds oversubscribed
Sept 29, 2010 (LBO) – A five-year bond issued by Sri Lanka’s Urban Development Authority (UDA), a state agency, to raise 10 billion rupees has been oversubscribed, drawing applications worth 11 billion rupees, a statement said. The managers to the issue, Bank of Ceylon, said eight investors had made applications to the value of 6. […]
Sri Lanka rupee bond yields drop on dollar debt sale
Sept 28, 2010 (LBO) – Sri Lanka government rupee securities yields slipped on news of a successful sale of a 10-year billion US dollar sovereign bond Tuesday, despite market participants discounting the effect earlier, dealers said. A 10-year rupee bond maturing on 01.08.20 was last sold at an auction at 9.30 percent but the bond […]
Sri Lanka stocks close down 0.50-pct
Sept 28, 2010 (LBO) – Sri Lanka stocks closed down Tuesday, as retail investors booked profits, while heavy trading on Bogala Graphite, East-West Properties, Colombo Land and Development Company, and Dialog Telekom pushed turnover up, brokers said. The All Share Price Index closed at 6,845. 77, down 0.50 percent (35.77 points), while the more liquid […]
Sri Lanka urban bond draws investors
Sept 28, 2010 (LBO) – A five-year bond issued by Sri Lanka’s Urban Development Authority (UDA), a state agency, to raise 10 billion rupees has drawn applications worth 8. 2 billion rupees, a statement said. The bonds are to be listed on the main board of the Colombo Stock Exchange. The managers to the issue, […]
Sri Lanka gives half of billion dollar bond to US investors
Sept 28, 2010 (LBO) – Sri Lanka has allocated investors in the United States 52. 5 percent of its billion US dollar bond, which was issued at 6.25 percent but was trading at a slightly lower rate. “The government will use the proceeds from the bond issue to finance its current infrastructure and to restructure […]
Sri Lanka opens billion dollar sovereign bond
Sept 27, 2010 (LBO) – Sri Lanka has opened subscriptions for a billion US dollar 10-year sovereign bond which may sell for around 6.5 percent days after the International Monetary Fund gave 212 million US dollars to the Central Bank to beef up already high reserves. A Bloomberg newswires report said the bond may yield […]
Sri Lankan stocks close down 0.10-pct
Sept 27, 2010 (LBO) – Sri Lankan stocks failed to hold on to early gains which propelled them past the 7,000 point mark for the first time in early trade Monday and closed weaker, brokers said. The market lost the momentum which had sent it to record highs in recent days with investors cashing-in to […]
Sri Lanka revised IMF deal focuses on budget
Sept 27, 2010 (LBO) – A revised program Sri Lanka has signed with the International Monetary Fund is allowing more monetary space for the central bank with responsible fiscal policy continuing to be the key focus. A revised letter of intent given by the government has made a deposit insurance scheme for banks, reducing tax […]
Sri Lanka rupee tops 112.00 to the greenback
Sept 27, 2010 (LBO) – Sri Lanka’s rupee soared above 112.00 rupees to the greenback Monday the highest since December 2008, when the country was in the midst of a balance of payments crisis, dealers said. The central bank has high policy rates compared to its anchor US currency allowing it to push the currency […]