Category: Economy and Markets
Sri Lanka stocks 0.71-pct down
Feb 16, 2010 (LBO) – Sri Lankan stocks closed lower Tuesday dragged down by the fall in prices of shares which had rallied on speculation, while selected blue chip stocks made gains, brokers said. The All Share Price Index closed at 3,691.04, down 26.47 points while the Milanka index of more liquid shares fell 0. […]
Sri Lanka budget deficit hit 8.5-pct of GDP for 10-months
Feb 15, 2010 (LBO) – Sri Lanka’s budget deficit has hit an estimated 8.5 percent of gross domestic product (GDP) in the first ten months of the year, despite a recovery in revenues as expenses grew at a faster pace, the latest data showed. Up to October the government was able to borrow domestically without […]
EU to cut Sri Lanka trade benefits over rights
BRUSSELS, February 15, 2010 (AFP) – European Union nations decided Monday to withdraw preferential trade benefits from Sri Lanka due to “significant shortcomings” on human rights issues, the EU Commission announced. Sri Lanka gains about 150 million dollars annually due to preferential tariffs, according to trade estimates. The island’s clothing industry is the main beneficiary, […]
Sri Lankan shares close 0.2-pct higher
Feb 15, 2010 (LBO) – Sri Lankan stocks closed up 0. 2 percent Monday but an index of liquid shares fell as investors sold blue chips, brokers said. The All Share Price Index closed at 3,717.51, up 0.20 percent (7.54 points) while the Milanka index of more liquid shares fell 0.48 percent (20.05 points) to […]
Sri Lanka eyes 10-year sovereign bond
Feb 13, 2010 (LBO) – Sri Lanka is eyeing a 10-year 500 million US dollar sovereign bond after May 2010 when funding needs becomes clear after a budget is passed in April, an official said. Sri Lanka has sold two 500 million US dollar sovereign bonds in 2007 and 2009 with a 5-year maturity. “We […]
Sri Lanka stocks end down 0.40-pct
Feb 12, 2010 (LBO) – Sri Lankan shares ended weaker Friday, dragged down by more profit taking following the recent rally and the fall in the prices of shares with a big weighting on the indices, brokers said. In one, 62,000 shares of John Keells Holdings were traded at 162 rupees each. John Keells Holdings […]
Sri Lanka stocks end down 1.31-pct
Feb 11, 2010 (LBO) – Sri Lankan shares ended sharply lower Thursday, dragged down by profit taking and the fall in prices of stocks with a heavy weighting in the indices, brokers said. Environmental Resources Investments shares closed at 234 rupees, down 4. 50 with 760,500 shares traded. The company’s warrants were also heavily traded […]
Sri Lanka IMF program to depend on budget: resident rep
Feb 11, 2010 (LBO) – The International Monetary Fund is looking at the direction of fiscal reforms to be set by a budget in April to continue its program in Sri Lanka, an official said ahead of a mission due in the island this month. Sri Lanka went for a program with the IMF in […]
Sri Lanka 3-month bill yield up
Feb 10, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yield moved up 08 basis points to 8. 07 percent at Wednesday’s auction while 6 and 12-month bill were steadier, the government’s debt office said. In recent weeks, interest rates have been high enough to roll-over the entire bill stock to real buyers. The 6-month […]
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Feb 10, 2010 (LBO) – Sri Lanka’s central bank has become a net seller in foreign exchange markets as monetization of the government’s cash deficit has increased amid private credit expansion, the latest data shows. The currency was later re-pegged at around 114. 50 to the US dollar with the help of liquidity withdrawals. Sri […]
Sri Lankan shares close 0.29-pct down
Feb 10, 2010 (LBO) – Sri Lankan shares slid Wednesday as foreign investors continued to take profits after a rally that drove prices to new highs while interest on mid-cap stocks like Kshatriya Holdings sent turnover past 2.3 billion rupees, brokers said. Nawaloka Hospitals closed at 3. 30 rupees, down 20 cents, Ceylon Hospitals closed […]
Sri Lankan stocks close 0.11-pct down
Feb 09, 2010 (LBO) – A rally in Sri Lankan shares was interrupted Tuesday as retail investors took profits while price jumps in selected stocks prevented the bourse falling further, brokers said. Sunshine Holdings which has interests in plantations and healthcare sectors closed at 300.00 rupees, up 123.50, albeit on thin trading turnover. The Sri […]