Category: Economy and Markets
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 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 […]
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 […]
Sri Lanka opens state agency debt to foreign buyers
Sept 10, 2010 (LBO) – Sri Lanka’s Urban Development Authority (UDA), a state agency, has launched a 5-year bond to raise 10 billion rupees and 30 percent of the issue is open to foreign investors, officials said. Gotabhaya Rajapaksa, secretary to Sri Lanka’s defence ministry, under which the agency operates, said the money would be […]
‘ worth of gold to Bangladesh
WASHINGTON, September 9, 2010 (AFP) – The International Monetary Fund on Thursday announced it would sell 10 metric tons of gold to Bangladesh, worth around 403 million dollars. “This transaction is part of the total sales of 403.3 metric tons approved by the executive board,” the IMF said in a statement. That decision was taken […]
Sri Lanka stocks top 6,000-pts
Sept 09, 2010 (LBO) – Sri Lanka’s benchmark index topped 6,000 points Thursday, with high value stocks like John Keells Holdings (JKH) and Distilleries Company shares also helping push turnover up brokers said. The All Share Price Index closed at 6,026.99, up 1.08 percent (64.37 points) while the Milanka Index of more liquid stocks rose […]
Sri Lankan stocks close up 1.32-pct
Sept 08, 2010 (LBO) – Sri Lankan stocks rallied and passed the 5,900 points mark Wednesday, from price gains on index heavy John Keells Holdings (JKH), Hatton National Bank (HNB), Commercial Bank and Distilleries Company, brokers said. The All Share Price Index closed at 5,962.62, up 1.32 percent (77.63 points) while the more liquid Milanka […]
Sri Lanka Treasuries yields plunge
Sept 07, 2010 (LBO) – Sri Lanka’s one year Treasury bill yield plunged 45 basis points to 7. 42 percent and the 6-month yield fell 52 basis points to 7.28 percent at Wednesday’s auction, the government’s debt office said. There were no sales of 3-month bills. Dealers said the rates fell on expectations of a […]
Sri Lankan stocks close up 0.45-pct
Sept 07, 2010 (LBO) – Sri Lankan stocks recovered Tuesday, from high investor interest on hotel sector shares, while large private deals on John Keells Hotels and Aitken Spence boosted turnover to almost six billion rupees, brokers said. The All Share Price Index closed at 5,884.99, up 0.45 percent (26.45 points) while the more liquid […]
Sri Lanka investment agency awaits tax policy in budget
Sept 07, 2010 (LBO) – Sri Lanka’s state investment promotion agency is waiting for the harmonization of a tax regime in the island following a budget later this year and it is also likely to undershoot an investment target for the year, an official said. Sri Lanka has a bloated state sector, with more than […]
Sri Lanka lake front to be park, entertainment complex: report
Sept 04, 2010 (LBO) – Land around a lake in Sri Lanka’s capital Colombo has been earmarked for hotels, a park, a shopping and an entertainment area and will be offered to private investors by the island’s city development authority, a media report said. State land would be offered investors as 55 or 99 year […]