Category: Economy and Markets
Sri Lankan shares dip 0.11-pct on retail profit taking
Dec 11, 2009 (LBO) – Sri Lankan stocks closed down Friday as retail investors took profits from gains made during the week, while volumes dropped owing to lack of foreign participation, brokers said. The All Share Price Index closed at 3,056.64 down 0.11 percent (3.37 points) while the Milanka Price Index of more liquid stocks […]
Sri Lankan stocks 0.24-pct up
Dec 10, 2009 (LBO) – Sri Lankan shares closed up Thursday while high volume trading on Commercial Bank of Ceylon shares boosted turnover levels, brokers said.Sri Lanka’s largest celco Dialog Telekom, a unit of Telekom Malaysia closed flat at 7.00 rupee, and the largest fixed line operator Sri Lanka Telecom closed at 43.50 rupees, up […]
Lack of evidence based policy making can be disastrous: Sri Lanka policy forum
Dec 10, 2009 (LBO) – Ad hoc public policy formulation can be disastrous and both China and India are evolving evidence based processes to back effective government action, academics and researchers said at a policy forum in Colombo.“The strategic direction is set by the Party and State Council and the People’s Congress makes legislation,” Xue […]
Sri Lanka Treasuries move up
Dec 09, 2009 (LBO) – Sri Lanka’s three and six month Treasury bill yields moved up for the second week running, the government’s debt office said, as fiscal policy loosened ahead of elections and private sector credit started to expand. The 3-month yield moved up 11 basis points to 7.51 percent and the 6-month bills […]
Sri Lanka shares close flat
Dec 09, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as investors took profits from recent gains, while high volume trading on John Keells Holdings (JKH) and Nations Trust Bank helped to pushed turnover up, brokers said.The banking sector has been one of the best performers in the last few weeks, so profit taking […]
Sri Lanka central bank in 5-year investment horizon for gold
Dec 07, 2009 (LBO) – Sri Lanka is looking at a 5-year horizon for its reserve investments in gold, Central Bank governor Nivard Cabraal said as gold hit historic highs against the dollar amid unprecedented US money printing.Gold hit 1,200 against the Federal Reserve unit amid unprecedented loose monetary policy pursued by the Fed. There […]
Sri Lankan shares up 0.83-pct
Dec 07, 2009 (LBO) – Sri Lankan shares closed up Monday with retailers taking profits on small and medium counters, while large capped stocks headed by selected high value blue chips pushed the bourse up, brokers said. The All Share Price Index closed at 3,025.37 up 0.83 percent (25.04 points) while the Milanka Price Index […]
Sri Lanka back on investment radar
December 6, 2009 (AFP) – Sri Lanka is back on the global investment radar after government forces in May ended a nearly four-decade separatist war with Tamil guerrillas, fund managers and analysts say. Sri Lanka’s small stock exchange has become one of the world’s top performing bourses, climbing over 96 percent this year as it […]
‘s high deficit spending hurt investment capital: analysts
Dec 04, 2009 (LBO) – Sri Lanka’s deficit spending, heavy state consumption, opaque monetary and fiscal policies and resulting high inflation has stifled investment credit markets and skewed savers towards the short term, analysts have said.“Vacillating primary account deficits meant volatile interest rates, further hampering any viable termed out structure of savings, of whatever savings […]
Sri Lanka to rebuild northern town
Dec 04, 2009 (LBO) – Sri Lanka plans to spend 15 billion rupees on rebuilding a northern town that was affected by fighting between security forces and Tamil Tiger separatists, the Ministry of Urban Development said.It said in a statement that an entirely new city will be built in the town of Vavuniya under the […]
Sri Lanka stocks close down 0.14-pct on profit taking
Dec 04, 2009 (LBO) – Sri Lankan shares closed down Friday as retail investors were seen taking profits from this week’s rally, while big trades in John Keells Holdings (JKH) and Distilleries Company pushed turnover levels up, brokers said. The All Share Price Index closed at 3,000.33 down 0.14 percent (4.28 points) while the Milanka […]
Sri Lanka bill yields up
Dec 03, 2009 (LBO) – Sri Lanka Treasury bill yields have started to move up across the board, at Wednesday’s auction the government debt office said, as private sector credit demand picked up and inflation concerns re-emerged. The 3-month yield rose 15 basis points to 7.40 percent, the 6-month yield rose 09 basis points to […]