Category: Economy and Markets
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) […]
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 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 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). […]
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 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 […]
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 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 […]