Category: Economy and Markets
Sri Lankan shares bounce back
Oct 21, 2009 (LBO) – Sri Lankan shares made a strong recovery to edge back over 3,000 points in late afternoon trade Wednesday as panicky investors calmed down on news a US hedge fund whose founder faces fraud charges had claimed adequate liquidity, brokers said. Conglomerate John Keells Holdings recovered to close at 140.25 rupees, […]
Sri Lanka Treasuries yields ease
Oct 21, 2009 (LBO) – Sri Lanka Treasuries yields eased across the board at Wednesday’s auction with the 3-month yield falling 05 basis points to 9.10 percent, the government’s debt office said. The debt office, which is a unit of the Central Bank, said 7.5 billion rupees of bills were offered for roll over and […]
Sri Lanka post-war rebuilding to get ADB help
Oct 20, 2009 (LBO) – A senior Asian Development Bank (ADB) has visited Sri Lanka to discuss support for post-war reconstruction in the island, the bank said in a statement.ADB Director General South Asia Department Kunio Senga visited Sri Lanka during October 13 -15 for talks on ADB support to Sri Lanka, especially for rehabilitation […]
Sri Lankan shares end down 3.24-pct
Oct 20, 2009 (LBO) – Sri Lankan shares ended sharply lower Tuesday, sinking below 3,000 points, on panic selling on fears about losing market access to Europe and fraud charges against a US fund manager with stakes in the island’s firms. The All Share Price Index closed down 3.24 percent (99.74 points) to end at […]
Sri Lanka shares down on billionaire arrest, trade deal doubts
Oct 19, 2009 (LBO) – Sri Lankan shares ended lower Monday on news of the arrest of a US hedge fund manager with big stakes in the island and uncertainty over a trade deal with the European Union, brokers said. The All Share Price Index closed down 1.56 percent (49.00 points) to end at 3,082.91, […]
Sri Lanka draws Singapore investor interest
SINGAPORE, October 19, 2009 (AFP) – Singapore is urging local businessmen to explore investment opportunities in Sri Lanka following the defeat of the Tamil separatist insurgency there, a report said here Monday.“Our business community should take an interest in what’s happening, assess the risk and be aware there is a new situation,” Foreign Minister George […]
Sri Lanka boat migrants end hunger strike
MERAK, October 17, 2009 (AFP) – A group of more than 250 Sri Lankan asylum seekers whose boat was stopped in Indonesian waters en route to Australia ended their two-day hunger strike on Saturday, officials said.The group — among which it was the 150 men who were on hunger strike — had accepted food late […]
Canada intercept boat with 76 migrants believed from Sri Lanka
VANCOUVER, October 18, 2009 (AFP) – A ship suspected of carrying 76 illegal migrants was intercepted in the Pacific Ocean off Canada’s west coast, police said Saturday.Authorities including military, police and border agents “identified and secured a vessel displaying the name ‘Ocean Lady’ that was approaching the coast of British Columbia” province, said a statement […]
Sri Lanka pressed by US on IP protection, GM food
Oct 17, 2009 (LBO) – The United States has asked Sri Lanka, ranked high for software piracy in Asia, to better enforce intellectual property rights and also lift restrictions on American imports like genetically modified food.Sri Lanka’s Director-General of Commerce Gomi Senadheera acknowledged the US concerns on IP rights and said the government was trying […]
Sri Lanka raises US$500mn for 7.4-pct
Oct 16, 2009 (LBO) – Sri Lanka has raised 500 million US dollars through a 5-year sovereign bond at a coupon interest rate of 7.4 percent, lower than an offering made two years ago, a media report said. There has been strong interest for the Sri Lanka bond running into billions of dollars, an international […]
Sri Lankan shares close flat, foreign inflows top Rs1.0bn
Oct 17, 2009 (LBO) – Sri Lankan share closed down Friday as the market was taking a slow technical correction, while net foreign inflows had topped one billion rupees, brokers said. The All Share Price Index closed down 0.10 percent (3.22 points) to end at 3,131.91, while the Milanka Index of more liquid stocks gained […]
Sri Lanka bond gets US$6.8bn bids from 269 investors
Oct, 16, 2009 (LBO) – A 500 million US dollar sovereign bond by Sri Lanka has drawn 6.8 billion US dollars in bids from 269 buyers pushing yields lower than expected on strong country prospects and high demand. Fund managers got 78 percent of the bonds, banks 8 percent, retail 7 percent, 4 percent to […]