Category: Economy and Markets
Sri Lanka foreign reserves US$5.2bn in November
Nov 25, 2009 (LBO) – Sri Lanka’s foreign reserves had climbed to 5.2 billion US dollars by November 20, helped by strong capital inflows and International Monetary Fund loans, the Central Bank said. Sri Lanka went to the IMF when reserves dipped to around a billion US dollars in March following an extended period of […]
Sri Lanka stocks end weaker
Nov 25, 2009 (LBO) – Sri Lankan shares ended slightly weaker Wednesday in thin trade with investors taking profits in anticipation of further falls amid uncertainty created by forthcoming polls and, brokers and analysts said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
Sri Lanka corporate debt killed by nuisance tax: market participants
Nov 24, 2009 (LBO) – The corporate debt market in Sri Lanka is being held back by the complex way a tax is charged by the government which has killed secondary market trading in debt securities, market participants have said. “But the way it’s collected allows secondary market trading without any problem. They basically collect […]
Sri Lankan shares fall 1.9-pct
Nov 24, 2009 (LBBO) – Sri Lankan stock prices fell across the board Tuesday on retail investor worries about the political and economic future after the government announced a snap presidential poll, brokers said. The All Share Price Index closed at 2,875.39, down 1.90 percent (55.68 points) while the Milanka Price Index of more liquid […]
Gold hits record high past 1,160 US dollars per ounce
HONG KONG, November 23, 2009 (AFP) – The price of gold soared to a record close of 1,166.00-1,167.00 US dollars an ounce in Hong Kong on Monday as dealers moved into the safe haven commodity due to the weak greenback, analysts said. It opened at 1,158.00-1,159.00 US dollars. The precious metal was up from Friday’s […]
Sri Lanka rupee shows life in flexible regime
Nov 23, 2009 (LBO) – Sri Lanka rupee closed weaker against the US dollar at 114.40/50 Monday after opening stronger under a more flexible exchange rate adopted by the Central Bank, dealers said. The spot dollar opened at 114.25/30 rupee levels against the greenback Monday and peaked to around 114.50/60 level in intra-day trading, dealers […]
Iran gained 5 billion dollars by euro switch: banker
TEHRAN, November 23, 2009 (AFP) – Iran’s central bank chief said on Monday that the country has gained five billion dollars by replacing the US dollar with the euro in its currency basket, state-owned English language Press TV reported.“Iran has considerably reduced the total of US dollars in its currency basket,” Mahmoud Bahmani said at […]
Sri Lankan shares close flat
Nov 23, 2009 (LBO) – Sri Lankan stocks closed flat Monday as investors remained cautious and trading sluggish, while selected high value counters made small gains, brokers said. The All Share Price Index closed at 2,931.07, down 0.08 percent (2.27 points) while the Milanka Price Index of more liquid stocks closed at 3,345.00, up 0.34 […]
Sri Lanka resettlement plan needed: politicians, activists
November 22, 2009 (AFP) – The Sri Lankan government has failed to make adequate welfare provision for the 136,000 Tamil civilians it plans to release from internment camps, rights activists and opposition parties said Sunday. Heeding international calls for the camps to be closed, the authorities said the remaining detainees — held since the military […]
Sri Lanka inflation seen subdued: IMF
Nov 20, 2009 (LBO) – Visiting International Monetary Fund officials said Sri Lanka’s inflation is seen staying low with no sign of demand-driven inflationary as the economy and credit are still growing too slowly to generate inflation. IMF mission chief Brian Aitken said economic growth has been better than expected when it approved a 2.6 […]
Sri Lankan stocks close down 0.93-pct
Nov 20, 2009 (LBO) – Sri Lankan shares closed down Friday as retail investors continued to take defensive positions after speculation of tainted fund manager, Raj Rajaratnam divesting Commercial Bank stake, brokers said.DFCC Bank closed at 148.00 rupees, up 3.00, and National Development Bank closed at 180.00 rupees, up 1.00. Fixed line operator Sri Lanka […]
Sri Lankan stocks close down 0.34-pct
Nov 19, 2009 (LBO) – Sri Lankan shares closed down Thursday, on news billionaire fund manager Raj Rajaratnam was selling part of his stocks, while retail investors who got burnt on margin calls in a downturn stayed on the sidelines, brokers said. The All Share Price Index closed at 2,960.77, down 0.34 percent (10.13 points) […]