Category: Economy and Markets
Sri Lankan stocks close down 0.10-pct
Oct 14, 2010 (LBO) – Sri Lankan stocks slid further Thursday, after Wednesday’s early morning fall and late afternoon rally, with falls in index heavy stocks like John Keells Holdings (JKH), Hatton National Bank (HNB) and Aitken Spence, brokers said. The Colombo All Share Index was down 0.10 percent (6.75 points) to 6,622.08 points, while […]
Singapore pushes currency up to counter dollar inflation
SINGAPORE, October 14, 2010 (AFP) – Singapore on Thursday announced a surprise move to tighten monetary policy, pushing the local dollar to new highs as the economy headed for 13 to 15 percent expansion this year. The Monetary Authority of Singapore (MAS) signalled its anti-inflation stance after government data showed the economy expanded an annual […]
Sri Lanka should be re-assessed by US business: Asst. Trade Rep
Oct 13, 2010 (LBO) – Sri Lanka should be re-assessed by US businesses after the end of a 30-year war as the country moves forward in a peaceful environment though ethnic reconciliation remained a challenge, a top US trade official said. “We think that political reconciliation could be greatly accelerated with economic growth. We need […]
Sri Lanka Treasuries yield inch up
Oct 13, 2010 (LBO) – Sri Lanka’s Treasuries yields inched up slightly at Wednesday’s auction with the 6-month yield moving up 05 basis points to 7. 04 percent and the 12-month yield moving up 05 basis points to 7. 17 percent, the government’s debt office said. There were no sales of 3-month bills. The government […]
Trio of labour market specialists wins 2010 Economics prize
STOCKHOLM, October 12, 2010 (AFP) – Three labour market experts, including one blocked for a top post at the US Federal Reserve, won the 2010 Nobel Economics Prize Monday for research that has had an impact on employment reforms worldwide. The Nobel jury said the work of Peter Diamond and Dale Mortensen of the United […]
Sri Lanka fund manager sells capital protected plan
Oct 12, 2010 (LBO) – Sri Lanka’s largest fund management firm is selling an investment plan which allows cautious savers participate in a stock market upside but be protected from a steep fall by putting the bulk of the money in debt. “If you are an investor who wants higher returns (because interest rates are […]
Sri Lanka stocks fall 4.4-pct
Oct 12, 2010 (LBO) – Sri Lanka’s benchmark share index plunged 4.4 percent Tuesday wiping out 95 billion rupees off stock values in a steep correction amid some margin calls on retail investors brokers said. The index is now down 8.5 percent from an October 01 peak of 7,147 points. Sri Lanka is still the […]
Sri Lankan stocks close flat
Oct 11, 2010 (LBO) – Sri Lankan stocks closed flat after early morning gains were lost brokers said, while a large deal on Aitken Spence pushed turnover to almost seven billion rupees. The All Share Price Index closed at 6,834.61, up 0.01 percent (1.00 points), while the more liquid Milanka index fell 0. 11 percent […]
Sri Lanka to shift away from quantity targets: CB Governor
Oct 11, 2010 (LBO) – Sri Lanka is “unlikely” to announce direct targeting of reserve money next year and will rely more on “traditional instruments” as the country moves gradually to target inflation directly with rates, central bank Governor Nivard Cabraal said. But under such a framework interest rates can be volatile, because the quantity […]
Sri Lanka state sell-down proposals spell new direction
Oct 09, 2010 (LBO) – Planned sell-downs of two state enterprises charts a new direction in Sri Lanka’s post-war economic strategy that can make state firms more transparent and also boost capital markets, analysts said. During the year the firm had given back 4,000 billion rupees to the parent in a share-buy back, which earned […]
Sri Lankan stocks close up 0.93-pct
Oct 08, 2010 (LBO) – Sri Lankan stocks recovered from a four day fall Friday on buying interest in midcap stocks, while index heavy weight John Keells Holdings (JKH) continued to slide, brokers said. The All Share Price Index closed at 6,833.61, up 0.93 percent (62.87 points), while the more liquid Milanka index rose 0.72 […]
Sri Lanka official forex reserves exceed US$7bn: central bank
Oct 07, 2010 (LBO) – Sri Lanka’s gross official reserves surpassed the seven billion US dollars level on October 04, the central bank said in a statement. The level of reserves is equivalent to over 6. 8 months of imports and is the highest ever reserves level of Sri Lanka, it said. On October 05 […]