Category: Economy and Markets
Hong Kong gold closes at record high
HONG KONG, June 21, 2010 (AFP) – Gold closed at a record high above 1,264 dollars an ounce in Hong Kong on Monday as the greenback weakened against Asian currencies after China’s announcement of a more flexible yuan. The precious metal ended at 1,264.50 US dollars an ounce. The main catalyst for the rally was […]
Sri Lanka sells USD278mn in bonds
June 21, 2010 (LBO) – Sri Lanka has sold 278 million US dollars in two and three year bonds at prices over 380 basis points above the 6-month London Interbank Offered Rate, rolling over 275 million US dollars of maturing debt. The government’s debt office said it sold 102 million US dollars of 3-year bonds […]
Sri Lanka state non-tax revenues up in first quarter
June 21, 2010 (LBO) – Sri Lanka has seen steep increase in non-tax incomes in the first quarter of 2010 which accounted for more than half the revenue gains made by the state, official data shows. State revenues increased by 26.3 percent in the first quarter to 182. 7 billion rupees with tax revenues gaining […]
Sri Lanka tuition ban will hurt poorer students: lawmaker
June 18, 2010 (LBO) – A state decision to ‘ban’ tuition classes in Sri Lanka on Sundays will hurt poor families most as richer people will still be able to bring individual private tutors to their homes, an opposition lawmaker has warned. Police have already started to ‘raid’ cheaper mass tuition classes in rural areas […]
Sri Lanka needs high gear government to drive economic engine: official
June 18, 2010 (LBO) – Sri Lankan private sector is the engine of growth and the government should embrace the Japanese example and formulate policies that would help people run their economic lives smoothly, a senior official said. “Private sector is the engine of growth and the public sector is the gear box,” Sunil Jayantha […]
Sri Lanka Central Bank governor in second term
June 17, 2010 (LBO) – Sri Lanka’s Central Bank governor Nivard Cabraal has been re-appointed for another six-year term, an official said. He has also kicked off a foreign exchange liberalization drive that will increase the economic freedoms of ordinary people. Cabraal became governor of the Central Bank of Sri Lanka in 2006 to complete […]
Sri Lanka gets EU aid for war-torn areas
June 17, 2010 (LBO) – The European Union has allocated 60 million euro (8.4 billion rupees) as aid to Sri Lanka mostly for the island’s north and east which were ravaged by war, a statement said. “The programme will mainly focus on medium-term assistance in the North and East of the country,” the statement from […]
Sri Lankan stocks close flat
June 17, 2010 (LBO) – Sri Lankan stocks closed flat Thursday with Dialog Telekom shares heavily traded, brokers said. Hatton National Bank closed at 294.00 rupees, down 1.00, Nations Trust Bank closed at 49. 75, down 75 cents, Sampath Bank closed at 336. 00 rupees, up 25 cents and Seylan Bank closed at 76.00 rupees, […]
Sri Lankan stocks becalmed, foreigners still selling
June 16, 2010 (LBO) – Sri Lankan stocks closed flat Wednesday as high net worth investors cashed out on banking stocks and re-invested on midcap stocks, while foreign investors continued to sell, brokers said. The All Share Price Index closed at 4,603.36, down 3.33 points, while the Milanka index of more liquid stocks rose 0.02 […]
Sri Lanka holds policy rates steady in June
June 16, 2010 (LBO) – Sri Lanka is holding its main policy rate at which money is injected to the economy steady at 9.75 percent with inflation falling and credit to businesses expanding, the Central Bank said. The Central Bank said inflation fell for the third consecutive month, reaching 5.3 percent in May and it […]
Sri Lanka Bank of Ceylon bond sale extended
June 15, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon said it was keeping a debenture issue open for more applications after applications topped an initial target of 3.0 billion rupees. A floating rate bond was priced 0.75 percent above the gross 6-month Treasury bill yield. The bank said its listed 5-year debenture issue […]
Sri Lankan stocks close 0.1 lower on retail profit taking
June 15, 2010 (LBO) – Sri Lankan stocks closed 0. 1 percent lower Tuesday as retailers took profits from mid and low cap stocks, despite banks making gains, brokers said. In another private deal 250,000 Nations Trust Bank shares changed hands at 50.50 rupees per share. It closed at 50.50 rupees, up 1.25, brokers said. […]