Category: Economy and Markets
Sri Lankan stocks close down 0.32-pct
July 02, 2010 (LBO) – Sri Lankan stocks closed down Friday as profit- taking on selected high value shares pulled the market down, while retail investors continued to chase after ‘penny’ stocks, broker said. The All Share Price Index closed at 4,593.65, down 17.6 points, while the more liquid Milanka index fell 0.63 percent (38.4 […]
Sri Lanka budget on track in April
July 02, 2010 (LBO) – Sri Lanka’s budget deficit in the first four months of 2010, though high, is in line with the gap for the full-year estimates presented in parliament last week, official data show. In the first four months revenues rose 26. 6 percent to 240.7 billion rupees from a year earlier. But […]
Sri Lanka peace, stability help exporters cope with GSP loss: Central Bank
July 01, 2010 (LBO) – Lower interest rates and inflation, ending of a war, reduced war risk premiums, strong foreign reserves and better access to foreign capital markets will help exporters cope with the loss of European trade preferences, the Central Bank said. Sri Lanka is due to lose the Generalized System of Preference Plus […]
Sri Lanka to appoint rating advisor: report
July 01, 2010 (LBO) – Sri Lanka will appoint an international investment bank as a ‘rating advisor’ next month ahead of a US dollar denominated sovereign bond to be sold later in the year, a media report said. Bloomberg newswires said the size of the bond issue has not yet been decided but earlier reports […]
Sri Lankan stocks close down 0.23-pct
July 01, 2010 (LBO) – Sri Lankan stocks closed down Thursday as investors took a wait-and-see approach on high value shares that in recent weeks had significantly moved up in price, while retail investors were seen chasing after ‘penny’ stocks, broker said. The All Share Price Index closed at 4,601. 63, down 0.23 percent (10.83 […]
Sri Lanka Treasury yields flat
July 01, 2010 (LBO) – Sri Lanka’s Treasury yields were flat at Wednesday’s auction with the government selling 2. 0 billion more bills to raise fresh cash from the market, the government’s debt office said. The 3-month yield was 8.07 percent, the 6-month yield 8. 93 percent and thee 12-month yield 9.29 percent. The debt […]
Sri Lankan stocks becalmed
June 30, 2010 (LBO) – Sri Lankan shares closed flat Wednesday as investors took profits from high value stocks, especially banks and re-invested in midcap shares, while a state fund bought into Colombo Dockyard boosting turnover by 50 percent, brokers said. Index heavy Distilleries Company of Sri Lanka, an alcohol manufacturer, closed at 129. 25 […]
IMF lifts Sri Lanka foreign borrowing ceiling
June 30, 2010 (LBO) – The International Monetary Fund has lifted a ceiling on foreign commercial borrowing placed on Sri Lanka in 2009, in a new deal agreed with the government this month. Earlier this month, a part of a maturing 2-year dollar bond tranche was extended to 3-years. Meanwhile the budget presented to parliament […]
‘s deficit plan could face risks: finance ministry
June 30, 2010 (LBO) – An expansion of the public service, losses in state enterprises, high oil price and lower than expected global growth could put a government deficit reduction plan at risk, a finance ministry report said. Sri Lanka is planning an 8.0 percent of gross domestic product budget deficit for 2010 down from […]
Sri Lanka inflation slows to 4.8-pct in June
June 30, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 4.8 percent in June 2010 from a year earlier, down from 5. 3 percent in May, the fourth straight monthly fall, the government statistics office said. In the month of June the Colombo consumer price index rose 0. 8 percent in absolute […]
Sri Lanka private sector wants in on reforms
June 30, 2010 (LBO) – The Ceylon Chamber of Commerce said the Sri Lankan government should involve the private sector when implementing its latest budget proposals which include reforms in taxation, education and administration. The chamber said it was confident that once the proposals are implemented and consistency prevails, it will boost investor confidence and […]
Sri Lankan stocks close up 0.91-pct
June 29, 2010 (LBO) – Sri Lankan shares closed up Tuesday as retailers got back into the market after last weeks profit taking, a troubled tableware firm which got a new investor extended gains, brokers said. The All Share Price Index closed at 4,616.09, up 0.91 percent (41.80 points) while the more liquid Milanka index […]