Category: Economy and Markets
Sri Lanka seeks help for 90,000 war widows: minister
September 29, 2010 (AFP) – Sri Lanka is seeking foreign help to care for nearly 90,000 women who have been widowed due to the island’s Tamil separatist war which ended last year, a minister said Wednesday. Child Development and Women’s Affairs Minister M. L. A. M. Hizbullah told reporters some 12,000 war widows were below […]
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 Lanka forex liberalization planned for mid-Oct: CB Governor
Sept 30, 2010 (LBO) – A second stage of relaxing foreign exchange controls may take place by mid-October when operating instructions to authorized dealers are fine tuned, central bank Governor Nivard Cabraal said. Sri Lanka’s foreign exchange laws criminalized attempts by citizens to protect the value of their hard earned savings from being destroyed by […]
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 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 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 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 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 […]