Category: Economy and Markets
Sri Lankan stocks close 0.34-pct higher
Jan 22, 2010 (LBO) – Sri Lanka stocks closed 0.3 percent higher Friday as investors awaited presidential polls on January 26 and December quarter results also started to trickle in, brokers said. The All Share Price Index closed at 3,531.73, up 12.02 points, while the Milanka index of more liquid stocks slipped 0.10 percent (3.93 […]
Sri Lanka graduates above IMF low income status: Central Bank
Jan 21, 2010 (LBO) – Sri Lanka has moved out of the countries eligible for financing from the International Monetary Fund’s poverty reduction and growth facility with greater access to capital markets and higher incomes, the Central Bank said. “Accordingly, Sri Lanka will now be recognised as a country with a middle income emerging market […]
Sri Lanka Treasuries yields marginally up
Jan 21, 2010 (LBO) – Sri Lanka’s Treasury bill yields edged up marginally across maturities at Wednesday’s auction, the government’s debt office said. The 3-month yield rose 02 basis points to 7.86 percent, the 6-month yield also moved up 04 basis points to 8.86 percent and the 12-month yield moved up 03 basis points to […]
Sri Lankan stocks close 0.36-pct down
Jan 21, 2010 (LBO) – Sri Lanka stocks closed lower Thursday as small investors took profits on high value stocks and bought low value counters, while next week’s presidential polls loomed large on the horizon, brokers said. The All Share Price Index closed at 3,519.71, down 12.70 points, while the Milanka index of more liquid […]
Sri Lankan stocks recover losses
Jan 20, 2010 (LBO) – Sri Lankan shares closed 1.4 percent higher Wednesday recouping some of the losses made over the past two days as investors kept a close eye on presidential polls due early next week, dealers said. With occupancy rates going up their is renewed interest in the leisure sector, brokers said. Aitken […]
Sri Lanka foreign reserves US5.2bn in November
Jan 20, 2010 (LBO) – Sri Lanka’s foreign reserves reached 5,228 million US dollars by end November 2009, which was equal to 6.4 months of imports, the Central Bank said. In 2009 the trade deficit was 2,468.5 million US dollars and remittances were 567 million US dollars higher. With the balances of the Asian Clearing […]
Sri Lanka holds policy rates steady
Jan 19, 2010 (LBO) – Sri Lanka’s central bank said it was keeping its main reverse repurchase policy rate at which money is injected to markets steady at 9. 75 percent, though inflation has started to pick up. “Though some volatility has been observed in the short term money market rates in recent weeks, market […]
” private sector salary hike
Jan 19, 2010 (LBO) – Sri Lanka’s labour minister has “ordered” a 2,500 rupee salary hike to private sector workers, a ministry statement said, though an organization representing the major employers said they had no knowledge of the move. The statement said a 405 rupee a month wage deal negotiated between a group of large […]
Sri Lanka stocks extend losses in broad sell-off
Jan 19, 2010 (LBO) – Sri Lankan stocks fell 1. 2 percent Tuesday in a broad sell-off that as buyers awaited third quarter results and kept an eye on presidential polls due next week, brokers said. MTD Walkers, a Malaysian controlled construction firm, extended gains closing 43.00 rupees higher at 425.75 rupees. In brief stock […]
Sri Lanka private sector credit up in November
Jan 18, 2010 (LBO) – Sri Lanka’s private sector loans surged 11. 7 billion rupees to 1,188 billion in November 2009, as rates fell to levels that stimulated credit demand, central bank governor Nivard Cabraal said. The Central bank has also pushed banks to lend in former war torn northern and eastern areas approving new […]
Sri Lankan stocks close 0.97-pct down on retail profit taking
Jan 18, 2010 (LBO) – Sri Lankan shares closed lower Monday as retailers took profits, while Hatton National Bank (HNB) and DFCC Bank sold out of Lanka Ventures to Acuity Partners, an investment bank, brokers said. The All Share Price Index closed at 3,528. 55, down 0.97 percent (34.59 points while the Milanka index of […]
Sri Lanka anchor currency inflation up
Jan 18, 2010 (LBO) – Consumer inflation in the United States, to whose currency the Sri Lanka rupee is tightly pegged, rose to 2.7 percent in December 2009 from a year earlier according to the latest data, as the island’s inflation also moved up. Sri Lanka has been quantity tightening from April 2009 by selling […]