Category: Economy and Markets
Vietnam lauds role of policy advice, international support, in recovery
Hanoi, Mar 22, 2010 (LBO) – International support and policy advice on macro-economic management has helped Vietnam recover from a slowdown in 2009 and the country intended to use global links to cut poverty, officials said. Vietnam’s economy slumped in the fist part of 2009 but recovered later and the country was expected to record […]
Sri Lanka expects more support from multilateral lenders: Treasury chief
HANOI, Mar 22, 2010 (LBO) – Sri Lanka is looking for more flexibility and backing from multilateral lenders as the country emerges from a war and a global crisis and is planning sustainable growth for the future, a top official said. IMF only lends money to the central bank to boost its reserves and budgetary […]
Sri Lankan stocks becalmed
Mar 22, 2010 (LBO) – Sri Lankan stocks closed barely changed Monday and trading was lower than that of recent days as retail investors bought into conglomerate John Keells Holdings (JKH) and selected midcap stocks, brokers said. The All Share Price Index closed at 3,743.00, 0.05 percent or 1.92 points down, while the Milanka index […]
Sri Lankan shares close 0.27-pct down on retail selling
Mar 19, 2010 (LBO) – Sri Lankan shares closed down Friday as investors took profits from selected midcap stocks, while Sunshine Holdings, John Keells Hotels and First Capital were heavily traded, brokers said. Commercial Bank of Ceylon closed at 191. 50. The All Share Price Index closed at 3,744. 92, down 10.27 points, while the […]
Sri Lanka sells US$93mn in dollar bonds
Mar 19, 2010 (LBO) – Sri Lanka has raised 92 million US dollars by selling two and three year dollar denominated bonds at rates slightly lower than the previous year, the government’s debt office said. In March severe cashflow strains usually emerge in government finances as state employees are paid two salaries ahead of a […]
Sri Lanka shares close 0.35-pct down, more deals in Lighthouse
Mar 18, 2010 (LB0) – Sri Lankan shares closed down Thursday as investors continued taking profits ahead of elections, while there was more heavy trading in The Lighthouse Hotel, brokers said. The All Share Price Index closed at 3,755.19, down 13.10 points, while the Milanka index of more liquid shares dipped 0.18 percent (7.86 points) […]
Sri Lanka policy rates frozen amid rising inflation, excess liquidity
Mar 18, 2010 (LBO) – Sri Lanka held policy rates frozen in March as inflation accelerated, central bank financing of the budget deficit increased to new highs amid frantic attempts to mop excess liquidity. The International Monetary Fund has already suspended a deal after the 2009 budget deficit went off the rails to 10.3 percent […]
Sri Lanka calls investments for capital city urban development
Mar 18, 2010 (LBO) – Sri Lanka is inviting investments for a high-rise complex proposed for prime land in the congested city that will be cleared of slums as part of an urban renewal project, officials said. The ‘Panchikawatte Triangle’ re-development project will provide 26 acres of land in the heart of the city for […]
Sri Lanka bonds yields slide on foreign buying hopes
Mar 17, 2010 (LBO) – Sri Lanka’s bond yields fell Wednesday after authorities told banks to find foreign buyers for 2. 5 billion rupees (24 million US dollars) worth Treasury bonds, dealers said. Yields of a bond maturing in 15.04.2012 fell to 10.50/55 percent from 10.75/85 a day earlier, while yields of 3-year bond maturing […]
Sri Lanka short term Treasuries barely changed
Mar 17, 2010 (LBO) – Sri Lanka Treasuries yields were barely changed at Wednesday’s auction though the short end moved up 02 basis points, the government’s debt office said. The central bank has been frantically trying to mop up liquidity generated from deficit financing. The central bank’s Treasury bill stock shot up to 58 billion […]
Sri Lankan stocks close 0.45-pct down on retail profit taking
Mar 17, 2010 (LBO) – Sri Lankan shares closed lower almost across the board Wednesday as retail investors took profits, while a large deal on Lighthouse Hotel boosted turnover, brokers said. Environmental Resources Investments ordinary voting shares closed at 258.50 rupees, up 1.00. Its 0000 warrants closed at 158.50 rupees, up 2.00, and 0001 warrants […]
EU in talks with Sri Lanka on maintaining trade privileges
BRUSSELS, March 16, 2010 (AFP) – The European Union wants to work with Colombo to avoid the withdrawal of Sri Lanka’s trade privileges with the bloc, under threat due to rights concerns, an official said Tuesday. “The Commission remains committed to work with Sri Lanka to see whether the conditions for a reversal” of a […]