Category: Economy and Markets
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 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 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 […]
Sri Lanka advised to improve connectivity to prosperous areas
Aug 10, 2010 (LBO) – The World Bank has advised Sri Lanka to change its development approach and improve access of people to prosperous parts of the country instead of shifting economic activity to lagging regions. These measures include investment subsidies, tax rebates, local regulations, local infrastructure development and targeted investment climate reforms, such as […]
Sri Lankan stocks close down 3.99-pct
Aug 09, 2010 (LBO) – Sri Lankan stocks continued to slide and fell below the 5,000 points mark Monday, on panic selling by retail investors unable to meet margin-calls, while heavy interest on Commercial Bank boosted turnover past a billion rupees, brokers said. Most high value blue chip stocks held their value despite the market […]
Sri Lanka central bank warns of more shocks, urges policy stability
Aug 09, 2010 (LBO) – Sri Lankan Central Bank governor Nivard Cabraal warned possible economic shocks in future could take different forms and urged policymakers to stick to their policies despite pressure for change in the short term. Policy makers have to learn to balance different competing interests when administering the policies needed to restore […]
Sri Lankan stocks close down 1.41-pct, ERI worst hit
Aug 06, 2010 (LBO) – Sri Lankan stocks continued to slide Friday, as retail investors on borrowed funds continued selling to minimize losses, while a large private deal on Commercial Bank boosted turnover, brokers said. The All Share Price Index closed at 5,065.07, down 72.31 points, while the Milanka index of more liquid stocks slid […]
Sri Lankan stocks fall 1.49-pct
Aug 05, 2010 (LBO) – Sri Lankan stocks fell Thursday as investors backed-off after the market regulator slapped a 10 percent upward and downward price band on all listed securities, while PC House’s Initial Public Offer was oversubscribed, brokers said. The All Share Price Index closed at 5,137.38, down 77.46 points, while the Milanka index […]