Category: Economy and Markets
Sri Lanka Treasuries yields slip
Aug 25, 2010 (LBO) – Sri Lanka’s Treasuries yield slipped between 10 to 19 percent on Wednesday, auction results released by the government’s debt office showed, following a 50 basis point rate cut on August 25. The 3-month yield fell 12 basis points to 7.28 percent, the 6-month yield fell 19 basis points to 3.1 […]
Sri Lanka stocks close 0.34-pct up
Aug 25, 2010 (LBO) – Sri Lankan stocks closed slightly higher Wednesday after rising sharply in early trade with some interest seen in financial sector shares, brokers said. Ceylon Leather Products, an ERI group firm, closed at 233. 60 rupees, down 22.90 or 8.93 percent. The All Share Price Index closed at 5,582. 87, up […]
Sri Lanka IMF programme on track, to get next tranche: official
Aug 23, 2010 (LBO) – An International Monetary Fund (IMF) mission to Sri Lanka said the island’s programme with the fund is on track with the government being able to meet the budget deficit target of eight percent of Gross Domestic Product. “End-June performance criteria on domestic budget borrowing, reserve money, and net reserves have […]
Sri Lankan stocks becalmed
Aug 23, 2010 (LBO) – Sri Lankan stocks closed flat Monday, as investors adjusting to the 10 percent trade margin took defensive positions looking for shares that offered bargains, while punters continued to chase after ‘penny’ stocks, brokers said. The All Share Price Index closed at 5,563.99, up 0.02 percent (0.99 points) while the Milanka […]
Sri Lankan stocks close down 0.10-pct
Aug 20, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from the weeks bull-run, while a large deal on Asian Alliance Insurance and high investor interest on John Keells Holdings (JKH) boosted turnover, brokers said. Commercial Bank closed at 191.00 rupees, down 60 cents (0.31 percent), Hatton National Bank closed […]
Sri Lanka former war zone economy transformation seen
Aug 20, 2010 (LBO) – Northern Sri Lanka, where education was highly valued before war retarded its growth, has potential to be transformed into a ‘knowledge economy’ from its traditional agrarian cum fisheries base, a statement said. An open forum on ‘Pathways to Knowledge-based Development’ in northern Jaffna is being organised by the Point Pedro […]
Sri Lanka central bank cuts reverse repurchase rate
Aug 20, 2010 (LBO) – Sri Lanka’s Central Bank said it has cut its reverse repurchase rate by 50 basis points to nine percent with immediate effect, while keeping the repurchase rate steady at 7. 25 percent to support an economic recovery as inflation eased. “While inflationary pressures in the domestic economy have continued to […]
Sri Lanka gets Japan, ADB help to restore livelihoods of families affected by war
Aug 20, 2010 (LBO) – The Asian Development Bank (ADB) and Japan are providing financial aid to help Sri Lanka restore infrastructure and provide livelihood training for thousands of people displaced by war, a statement said. The Japan Fund for Poverty Reduction, administered by ADB, is extending a 2.5 million US dollar grant for a […]
Sri Lankan stocks close up 2.71-pct, pass 5,500 points mark
Aug 19, 2010 (LBO) – Sri Lankan stocks broke new ground yet again this week and passed 5,500 points, Thursday, from gains across the board on low volume trading, brokers said. Hemas Holdings closed at 40.00 rupees, up 30 cents (0.76 percent) and John Keells Holdings, an index heavy stock closed at 258.00 rupees, 1.00 […]
Sri Lanka Treasuries yields slip further
Aug 19, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped further at Wednesday’s auction, down by between 24 basis points to 36 basis points with one year yields slipping the most, results from the government debt office showed. The debt office sold 1.250 billion rupees in 3-month bills, 4.535 billion rupees in 6-month yields […]
Sri Lankan stocks close up 2.19-pct, passes 5,400 points
Aug 18, 2010 (LBO) – Sri Lankan stocks closed at a new high and passed the 5,400 points mark Wednesday, from buying interest mostly on midcap and ‘penny’ stocks, while deals on Lion Brewery and Ceylon Investments boosted revenues, brokers said. In a private deal over 964,000 shares of John Keells Holdings changed hands at […]
‘s Mahindra group
Aug 18, 2010 (LBO) – India’s Mahindra and Mahindra group is planning to make investments in Sri Lanka initially in tourism and financial services and also increasing vehicles sales in the island, an official said. “Sri Lanka can provide a platform for large multinationals like us,” Anand Mahindra, Vice Chairman and Managing Director of the […]