Category: Economy and Markets
Sri Lanka private equity fund upbeat on MBOs, retailing
Nov 19, 2009 (LBO) – A new private equity fund targeting Sri Lanka will focus on supporting management buyouts, and is upbeat on opportunities in retailing, tourism and information technology as the island recovers from a 30-year war, officials said.Investors who enter the Leopard private equity fund will have to look up money for ten […]
Sri Lanka bill yields fall after rate cut
Nov 18, 2009 (LBO) – Sri Lanka Treasury bill yields fell across the board following a 50 basis point rate cut earlier in the day, and with the 3-month yield slipping below the repo rate at which cash is drained from the system. The debt office, which is a unit of the Central Bank, said […]
Sri Lankan stocks close down 0.41-pct
Nov 19, 2009 (LBO) – Sri Lankan shares closed down Wednesday as retail investors were seen unloading mid capped stocks due to selling pressure, brokers said.The All Share Price Index closed at 2,970.90, down 0.41 percent (12.35 points), while the Milanka Price Index of more liquid stocks closed at 3,376.44, down 0.12 percent (4.04 points). […]
Sri Lanka cuts rates, narrows policy corridor
Nov 18, 2009 (LBO) – Sri Lanka’s Central Bank has cut its main policy rate that injects liquidity into the banking system by 75 basis points to 9.75 percent and the rate at which it drains liquidity by 50 basis points to 7.50 percent. The Central Bank said it had bought dollars from the market […]
Sri Lanka stocks barely changed
Nov 17, 2009 (LBO) – Sri Lankan shares ended barely changed Tuesday with trading boosted by off-the floor deals in Commercial Bank and in the overall market foreigners being net sellers, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index closed […]
IMF sells two tonnes of gold to Mauritius
WASHINGTON, November 17, 2009 (AFP) – The International Monetary Fund announced Monday it has sold two tonnes of gold to the central bank of the Indian Ocean island of Mauritius for nearly 72 million dollars.The sale came as gold prices surged Monday to an all-time high of 1,136.72 dollars per ounce. The sale to Mauritius […]
Sri Lanka rupee opens stronger
Nov 17, 2009 (LBO) – Sri Lanka’s rupee opened stronger against the US dollar with a state bank that usually acts for the monetary authority buying at 114.25 Tuesday up from yesterdays 114.35 levels, dealers said. Sri Lanka’s rupee was pegged at 114.80 levels for most of the year following float in March that got […]
Sri Lanka issues new commemorative note
Nov 17, 2009 (LBO) – Sri Lanka has issued a commemorative note featuring President Mahinda Rajapaksa, key turning points in a military victory over Tamil Tiger separatists, and the country’s unitary status, the Central Bank said.The theme of the obverse of the note is “one country and one nation in harmony, progressing towards prosperity” led […]
Sri Lankan stocks close flat; rupee up
Nov 16, 2009 (LBO) – Sri Lanka stocks closed flat Monday as investors on the back foot awaiting political developments, while the rupee strengthened against the greenback broker and dealers said.Conglomerate John Keells Holdings closed at 143.25 rupees, down 1.75, and Distilleries Company of Sri Lankan closed at 95.00 rupees, down 25 cents. Commercial Bank […]
Sri Lanka state revenues up in September, but may miss revised targets
Nov 16, 2009 (LBO) – Sri Lanka’s state revenues rebounded to 522.0 billion rupees in September 2009 up 12.1 percent from a year earlier, but year end targets may miss revised estimates, the Central Bank said.For the first nine months of the year fiscal deficit was 322.6 billion rupees or 6.5 percent of gross domestic […]
Sri Lanka First Capital profits soar on bond gains
Nov 16, 2009 (LBO) – Sri Lanka’s First Capital Holdings said profits in the September 2009 quarter soared over ten times to 168.1 million rupees from 16.1 million on bond gains from is primary dealer unit.Sri Lanka’s bond yields have plummeted over 2009 as the Central Bank cut interest rates and foreign capital flowed into […]
Sri Lanka lures central Indian investors
Nov 15, 2009 (LBO) – Firms from the central Indian state of Madhya Pradesh have showed interest in investing in Sri Lanka and called for direct flights between the state capital Bhopal and Colombo, officials said.Sri Lanka can benefit by having daily flights between Bhopal, Colombo and Bangkok to cater to Sri Lankan as well […]