Category: Economy and Markets
Sri Lanka gets visit by ADB vice president
Aug 18, 2010 (LBO) – Asian Development Bank (ADB) said its Vice President Xiaoyu Zhao will visit Sri Lanka from 19-21 August for talks with the government and to visit ADB funded projects especially in the former northern war zone. The bank said in a statement Zhao will review ADB support for the reconstruction and […]
Sri Lankan stocks close up 2.21- pct
Aug 17, 2010 (LBO) – Sri Lankan stocks rallied for the third straight day, Tuesday, from renewed buying interest on midcap stocks despite low trading volumes, while retail interest on volatile ‘penny’ stocks continued, brokers said. The All Share Price Index closed at 5,305.80, was up 2.21 percent (114.50 points) while the Milanka index of […]
Sri Lankan stocks close up 1.48-pct
Aug 16, 2010 (LBO) – Sri Lankan stocks rallied for the second straight day, Monday, in low volume trading, while there was renewed retail buying interest on ‘penny’ shares, brokers said. The All Share Price Index closed at 5,191.30, was up 1.48 percent (75.51 points) Monday, while the Milanka index of more liquid stocks rose […]
Sri Lanka private investment mooted to free public money for social spending
Aug 13, 2010 (LBO) – Sri Lanka should consider more private investment in education and health in prosperous areas, freeing public money for investment in upgrading in social services in lagging regions, an official said. Anura Ekanayake, chairman of the Ceylon Chamber of Commerce, said there was a huge gap in the investments needed to […]
Sri Lankan shares close up 1.61-pct
Aug 13, 2010 (2010) – Sri Lankan shares closed higher Friday as midcap stocks rallied mostly on retail investor interest amidst low trading volumes, while Environmental Resources Investments (ERI) shares continued to fall, brokers said. The All Share Price Index closed at 5,115.79, was up 1.61 percent (80.94 points) Friday, while the Milanka index of […]
Sri Lanka selects HSBC, Bank of America, RBS for sovereign bond
Aug 12, 2010 (LBO) – Sri Lanka’s central bank has chosen Hongkong and Shanghai Banking Corporation (HSBC), Bank of America Merrill Lynch and the Royal Bank of Scotland (RBS) to handle a planned billion dollar sovereign bond issue. It said in a statement the three were selected as joint lead managers and bookrunners for the […]
Sri Lanka to lease prime land, re-settle squatters
Aug 12, 2010 (LBO) – The Sri Lankan plans to develop prime land in Colombo occupied by squatters by leasing some lands and issuing debentures to raise funds for the work, a minister said. Government spokesman Anura Yapa, who is environment minister, said a survey revealed that 66,000 low-income families were living in Colombo and […]
Sri Lankan stocks close down 0.86-pct
Aug 12, 2010 (LBO) – Sri Lankan stocks continued to slide Thursday, as retail investors with weak holding strength sold, while selected securities from Environmental Resources Investments group and some midcap shares rose, brokers said. The All Share Price Index closed at 5,034.85, down 0.86 percent (43.79 points) Thursday, while the Milanka index of more […]
Sri Lanka Treasuries yields continue to fall
Aug 12, 2010 (LBO) – Sri Lanka’s Treasury bill yields fell further at Wednesday’s auction with one year yields falling the most, the government debt office said. The 3-month yield fell 14 basis points to 7. 64 percent, while the 6-month yield was down 18 basis points to 8.30 and the 12-month yield was down […]
Sri Lankan stocks close down 0.28-pct
Aug 11, 2010 (LBO) – Sri Lankan stocks closed down Wednesday, as investors opted to take defensive positions on speculative shares despite Tuesday’s rally, while Environmental Resources Investments (ERI) group shares lost ground, brokers said. The All Share Price Index closed at 5,078. 64, down 0.28 percent (14.30 points) Wednesday, while the Milanka index of […]
Sri Lanka Central Bank to increase forex trading
Aug 11, 2010 (LBO) – Sri Lanka’s Central Bank has called for bids for a new treasury management system to modernise its dealing room amid plans to increase foreign exchange trading as reserves grow, a statement said. Only bidders who have installed treasury management systems in at least one central bank or monetary authority or […]
Sri Lankan stocks close up 4.73-pct
Aug 10, 2010 (LBO) – Sri Lankan stocks rallied and closed sharply higher, bouncing back over the 5,000 points mark Tuesday, after plunging at the opening, brokers said. In a privately negotiated off-the-floor deal, Perpetual Capital bought 908,000 shares of Housing Development and Finance Corporation (a 14.03 percent stake) at 310.00 rupees per share. Institutional […]