Category: Economy and Markets
Sri Lankan stocks close down 0.77-pct
July 05, 2010 (LBO) – Sri Lankan stocks closed lower Monday as retailers took profit on banking stocks and penny stocks continued to be heavily traded brokers said. The All Share Price Index closed at 4,558.48, down 35.17 points, while the more liquid Milanka index fell 1.35 percent (70.53 points) to close at 5,140.28. Turnover […]
Sri Lanka trade gap widens in April amid economic recovery
July 05, 2010 (LBO) – Sri Lanka’s foreign trade volumes and a trade gap widened in April 2010 amid as an economic recovery with exports growing 24. 2 percent and imports growing 55. 8 percent, official data showed. Exports grew to 543.5 million US dollars with tea growing 61 percent to 93. 7 million US […]
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July 04, 2010 (LBO) – Sri Lanka’s main opposition poked fun at a budget for 2010 which had less ‘grasping government’ elements in it and was more affordable to the poor, by throwing the ruling coalition’s own slogans of yesteryear, back at it. In 2006, Sri Lanka’s Mahinda Chinthana platform justified a spending spree saying […]
Sri Lanka sovereign rating may be raised: report
July 03, 2010 (LBO) – Standard & Poor’s may upgrade Sri Lanka’s credit when it next reviews the island’s sovereign rating with the resumption of an International Monetary Fund loan and strong foreign reserves, a media report said. “The new budget and continued IMF program are positives,” Benard said. “Still, to have effect on the […]
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 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 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 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 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 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 […]