Category: Economy and Markets
Sri Lanka may get IMF funds in 4-6 weeks: official
May 21, 2010 (LBO) – The International Monetary Fund (IMF) is likely to release the next tranche of its program loan to Sri Lanka in 4-6 weeks if its management and board are satisfied with the island’s budget deficit for 2010, an official said. Policy talks were encouraging, visiting IMF mission chief Brian Aitken told […]
Sri Lanka holds policy rate steady
May 20, 2010 (LBO) – Sri Lanka’s central bank said it was holding policy rates steady at 9.75 percent amid a pick up in bank credit to private businesses and a dip in annual inflation in April 2010. “Developments in the monetary sector have been encouraging,” the Central Bank said. “Credit obtained by the private […]
Sri Lankan stocks close 0.11-pct up
May 20, 2010 (LBO) – Sri Lankan stocks closed up Thursday despite investors taking profits on selected shares, while considerable interest in banking stocks boosted turnover, brokers said. The All Share Price Index closed at 4,248.37, up 4.83 points, while the more liquid Milanka index fell 0.09 percent (4.13 points) to close at 4,788.58. Turnover […]
Sri Lanka Treasuries yields steady
May 19, 2010 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction though the 3-month yield fell 05 basis points to 8. 13 percent, the government’s debt office said. The 6-month yield was flat at 8. 88 percent and the 12-month yield was also flat at 9.23 percent, the debt office which is […]
Sri Lanka shares end 0.33-pct down
May 19, 2010 (LBO) – Sri Lankan stocks closed lower Wednesday with investors seen losing interest in shares whose prices had risen sharply as the market reached record highs in recent weeks, brokers said. The All Share Price Index closed at 4,243.54, down 0.33 percent (14.13 points) while the more liquid Milanka index fell 0. […]
Sri Lankan stocks close 0.36-pct up, Com Bank heavily traded
May 18, 2010 (LBO) – Sri Lankan shares bounced back Tuesday as price gains on index heavy high value stocks pushed the market up, while heavy institutional interest on Commercial Bank drove trading volumes up, brokers said. The All Share Price Index closed at 4,257.67, up 15.18 points, while the Milanka index of more liquid […]
Rains delay Sri Lanka victory parade, 200,000 displaced
May 17, 2010 (AFP) – Heavy rains forced the indefinite postponement of Sri Lanka’s military parade marking the first anniversary of its defeat of Tamil rebels, officials said Monday as flash floods killed four people. The island’s two main monsoon seasons run from May to September and December to February. The victory celebrations scheduled for […]
Euro plunges to 19-month low in Asia
TOKYO, May 17, 2010 (AFP) – The euro slid to its lowest level since October 2008 in volatile Tokyo trade Monday as persistent fears over eurozone debt continued to pressure the single currency. The euro fell to as low as 1.2332 dollars in Tokyo trade from 1. 2358 in New York Friday, before recovering to […]
Sri Lanka stocks close 0.23-pct down
May 17, 2010 (LBO) – Sri Lankan shares closed down Monday as investors took profits to re-invest in those that offer higher value, while trading volumes were hit as retail investors stayed away owing to heavy rain which caused floods in the capital, brokers said. The All Share Price Index closed at 4,242. 49, down […]
Sri Lanka state revenues up in February: data
May 17, 2010 (LBO) – Sri Lanka’s state revenues picked up sharply in February 2010 to 108. 6 billion rupees in the first two months, up 17 percent from a year earlier, containing the budget deficit at around last year’s level, despite rising current spending, official data showed. Current expenses rose 7.2 percent to 181.3 […]
Sri Lanka appoints heads to state entities
May 14, 2010 (LBO) – The chairman of Sri Lanka’s largest bank, state-run Bank of Ceylon Gamini Wickramasinghe has been re-appointed amid a series of changes made to boards of state institutions following general elections in April. Wickramasinghe is head of Informatics, an information technology group and has a masters degree in systems analysis from […]
‘re to blame, says Sangakkara after Sri Lanka T20 exit
GROS ISLET, May 13, 2010 (AFP) – Sri Lanka captain Kumar Sangakkara said the team had no-one else to blame but themselves after a seven-wicket World Twenty20 semi-final loss to England here on Thursday. Last year’s losing finalists were all but out of the game after being restricted to 128 for six, having lost their […]