Category: Economy and Markets
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 […]
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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 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 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 […]
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 […]
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 […]
Sri Lanka leader calls for unity after poll win
February 4, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse on Thursday issued an independence day call for unity and reconciliation after his victory in a bitterly fought election. Rajapakse in an address to the nation said the island’s freedom day assumed great significance as it was the first since the defeat of separatist Tamil […]
Sri Lankan stocks close 0.31-pct down
Feb 03, 2010 (LBO) – Sri Lankan shares closed down Wednesday as retailers took profits on counters that rallied in recent weeks, while renewed interest on selected midcap stocks boosted their share prices, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,697.80 points, down 11.33 points, while the Milanka index of more […]