Category: Economy and Markets
Sri Lankan stocks close up 1.69-pct
Sept 16, 2010 (LBO) – Sri Lankan stocks recovered to pass the 6,300 points mark Thursday, from price gains on index heavy and midcap stocks, while Hotel Reefcomber shares continued to be heavily traded, brokers said. Nations Trust Bank closed at 84. 00 rupees, up 7.60 with 2.88 million shares changing hands, brokers said. The […]
Japan intervenes in forex markets for first time since 2004
TOKYO, September 15, 2010 (AFP) – Japan on Wednesday intervened in currency markets for the first time since 2004 in a bid to stem the yen’s appreciation against the dollar, Finance Minister Yoshihiko Noda said. The dollar had hit a fresh 15-year low of 82. 86 yen in Tokyo before gaining sharply following the intervention, […]
Sri Lanka securities watchdog halts broker credit
Sept 15, 2010 (LBO) – Sri Lanka’s Securities and Exchange Commission has ordered brokering firms to “absolutely refrain” from giving credit for clients to trade in stocks as rising prices reduced the immediate risk of delaying payment. In Sri Lanka purchases have to be settled in three days (T+3). However clients could continue to get […]
Sri Lanka stocks close up 1.03-pct
Sept 15, 2010 (LBO) – Sri Lankan shares closed higher Wednesday with heavy trading in low value shares, brokers said. The All Share Price Index closed at 6,238.45, up 1.03 percent (63.39 points) while the more liquid Milanka index rose 0. 56 percent (36.45) to close at 6,488.71, according to stock exchange provisional figures. Turnover […]
” by S&P
Sept 14, 2010 (LBO) – Standard & Poor’s has raised its long-term foreign currency sovereign credit rating on Sri Lanka to ‘B+’ from ‘B’ and the long-term local currency rating to ‘BB-‘ from ‘B+’ with a stable outlook, a statement said. At the same time, Standard & Poor’s confirmed the ‘B’ short-term rating on the […]
Sri Lanka begins road show to market $1bn bond
Sept 14, 2010 (LBO) – Sri Lanka has kicked off a road show to sell a billion dollar sovereign bond later this month, a media report said. Officials and investment banks promoting the issue will meet fund managers till September 24, a Bloomberg newswires report said. Investor meetings will be held in Singapore, Hong Kong, […]
Sri Lanka half-year budget deficit on track
Sept 14, 2010 (LBO) – Sri Lanka budget deficit up to June 2010 is on track with projected numbers though deficit monetization in subsequent weeks points to greater net cash deficits, official data show. Tax revenues picked up 16.0 percent to 309 billion rupees in the first six months of the year from a year […]
Sri Lankan stocks close up 0.72-pct
Sept 14, 2010 (LBO) – Sri Lankan stocks continued their rally to close at a new high Tuesday, on price gains on selected midcap stocks on low volume trading, while Distilleries Company, Richard Pieris and Aitken Spence boosted turnover, brokers said. Distilleries Company of Sri Lanka, another index heavy share closed at 184.00 rupees, up […]
” to begin in October
Sept 14, 2010 (LBO) – Sri Lanka’s statistics office has completed most of the preliminary work to conduct its first island-wide population count in 30-years with a ‘pilot census’ to begin in October, an official said. The census office started piling work a new building in Battaramulla, near Sri Lanka’s parliament Tuesday. The 62 year […]
Cuba to axe one million state jobs
HAVANA, September 14, 2010 (AFP) – Cuba has announced plans to slash one million state jobs and encourage the growth of its emerging small business sector in a gamble it hopes can keep its communist system and floundering economy afloat. Workers laid off from government jobs will no longer be sent home with partial pay, […]
Sri Lanka 83rd in Forbes best countries for business list
Sept 13, 2010 (LBO) – Sri Lanka has been ranked 83rd in the latest Forbes Best Countries for Business list, behind India which was placed 77th but ahead of Pakistan at 92 and Bangladesh at 109. Denmark tops the list, followed by Hong Kong in second place, New Zealand in third, Canada in fourth and […]
IMF warns of debt menace as recovery slows
WASHINGTON, September 10, 2010 (AFP) – High levels of national debt and a still shaky financial sector threaten to derail the global economic recovery, the IMF warned on Friday. The Washington-based body warned of a funding bottleneck as European nations try to extend their borrowing by rolling over bonds. “Sovereign debt maturing in vulnerable euro […]