Category: Economy and Markets
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 […]
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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 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 […]
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 Lanka wraps up US$300mn arms loan with Russia: report
Feb 09, 2010 (LBO) – Sri Lanka has wrapped up a 300 million US dollar loan to buy “armaments and dual purpose technology” from Russia during a visit by President Mahinda Rajapaksa, a media report said. Russia and China have been the main arms suppliers to Sri Lanka during a 30-year war with Tamil Tiger […]
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 […]
Sri Lanka to dredge more sea sand
Feb 08, 2010 (LBO) – Sri Lanka will appoint a dredging contractor to bring up three million cubic metres of sea sand to supply the domestic market which is running out of river sand and also for export. Sri Lanka Land Reclamation and Development Company (SLLR & DC), a state agency, holds the sole rights […]
Sri Lanka stocks end up 2.23-pct
Feb 08, 2010 (LBO) – Sri Lankan shares ended higher Monday and turnover was pushed up by big transactions in blue chips with investor V Vijayaratnam raising his stake further in Asia Capital, brokers said. The day’s trading turnover was pushed up by large trades in Asia Capital and several blue chip stocks. Asia Capital […]
Britain to cut number of student visas issued
LONDON, February 7, 2010 (AFP) – Britain is to cut the number of visas it hands out to foreign students in a bid to stop people breaking the rules by working illegally, officials said Saturday. The change, which comes after Prime Minister Gordon Brown ordered a review of the system at the end of last […]
Sri Lanka should address fiscal excesses, inflation: S&P
Feb 05, 2010 (LBO) – Sri Lanka’s ‘apparent lack of urgency’ to stop rising inflation and post election spending may put pressure on a deal agreed with the International Monetary Fund, Standard & Poor’s, a rating agency has said. President Mahinda Rajapaksa, re-elected with a stronger mandate, had a “unique opportunity” to “implement comprehensive fiscal […]
Sri Lanka stocks end up 0.24-pct
Feb 05, 2010 (LBO) – Sri Lankan shares ended firmer Friday with a few deals in financial stocks boosting trading turnover and investors anticipating profit-taking ahead as prices are at record highs, brokers said. “We tell investors to pick and chose fundamentally good stocks,†Perera said. “Even if there’s volatility, that’s good as it give […]