Category: Economy and Markets
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. […]
Sri Lanka next forex liberalization wave after budget
June 15, 2010 (LBO) – Sri Lanka will see the next wave of foreign exchange liberalization after the budget, which is due at the end of June, Central Bank Governor Nivard Cabraal said. “Regulations are being drafted,” Cabraal said. “As soon as the regulation are drafted and tested we will announce them. The next set […]
Sri Lanka budget gap narrows in 1Q 2010
June 14, 2010 (LBO) – Sri Lanka’s budget gap has narrowed in the first quarter of 2010, with revenues picking up and the government also keeping a lid on current expenses from a year earlier, official data show. Total revenues were up 26.3 percent to 182.7 billion rupees in the three months to March and […]
Sri Lanka stocks close 1.13-pct up
June 14, 2010 (LBO) – Sri Lankan shares closed at a new high passing 4,600 points on the benchmark index Monday, pushed up by selected index-heavy blue chips, while retail investors took profits on mid and small-cap stocks, brokers said. The All Share Price Index closed at 4,612. 76, up 51.43 points, while the Milanka […]
Sri Lanka to sell US$275mn in bonds
June 14, 2010 (LBO) – Sri Lanka is rolling over 275 million US dollars in two and three-year government bonds which pay a 6-month month floating rate coupon, the government’s debt office said. Only 92 million US dollars in bonds out of a total of 100 million was sold through an auction and the balance […]
Sri Lankan stocks hit new high
June 11, 2010 (LBO) – Sri Lankan stocks rose to new highs Friday, passing the 4,500 points mark as institutional investors bought blue chips while retailers took profit from over-priced shares and re-invested in cheaper ones, brokers said. The All Share Price Index (ASPI) closed at 4,561.33, up 65.09 points, while the Milanka index of […]
‘s Mahathir
June 11, 2010 (LBO) – Sri Lanka should target investment led growth and minimize borrowings which could lead to a future debt crisis, former Malaysian prime minister, Mahathir Mohamed said. As a result Sri Lanka has run up national debt to almost 86 percent gross domestic product (GDP) in 2009 from just 16 percent at […]