Category: Economy and Markets
Sri Lanka foreign reserves US$3.2bn: CB governor
Aug 25, 2009 (LBO) – Sri Lanka’s foreign reserves have topped 3.2 billion dollars after a large inflow into the country’s government securities market, Central Bank Governor Nivard Cabraal said. “You will see enormous opportunities,” Cabraal told a forum on Islamic financial instruments organized by Rating Agency Malaysia in Colombo. “There will be extraordinary positions […]
” by S&P
Aug 25, 2009 (LBO) – Standard & Poor’s has lifted the outlook on Sri Lanka’s speculative ‘B’ sovereign rating to ‘stable’ from ‘negative’ on expectations of better policy under an International Monetary Fund program and capital inflows. A sovereign rating measures the creditworthiness of the government. Sri Lanka’s high spending governments, that frequently borrows from […]
Sri Lanka firms told socially responsible investing does pay
Aug 25, 2009 (LBO) – Companies should look closely at socially responsible business practices as they are more profitable and opens the door to alternative investments, a senior official from the Securities Exchange Commission (SEC) said. “Socially responsible investment advocates argue that screening helps eliminate companies that have risks that are generally not recognized by […]
Sri Lankan stocks up 0.30-pct
Aug 24, 2009 (LBO) – Sri Lankan shares closed up Monday as institutional and high-net-worth investors traded the blue chip John Keells Holdings (JKH) which boosted turnover, while there was much retail interest on Lanka Cement, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.30 percent (7.54 points) to end at […]
Sri Lanka eyes peace dividend after crushing Tigers
August 23, 2009 (AFP) – Conflict-torn Sri Lanka is banking on foreign cash to rebuild shattered infrastructure as the island emerges from decades of ethnic civil war, officials say.Analysts are expecting a large investment peace dividend in the country where bomb attacks and fighting dented investor confidence and kept high-spending tourists away from the tropical […]
Sri Lanka monetary authority in offbeat IMF-style deal with US fund
Aug 22, 2009 (LBO) – Sri Lanka’s Central Bank has acquired 875 million US dollars from a large US fund in an offbeat deal effectively by-passing the domestic money system that boosts forex reserves without creating domestic inflationary or exchange rate pressure.But the by-pass also meant that the money is not available for Sri Lanka’s […]
Sri Lanka shares stagnant
Aug 21, 2009 (LBO) – Sri Lankan shares ended flat Friday with small investors chasing speculative stocks like Environmental Resources Investments while a few big deals of heavyweights like John Keells Holdings went through, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lankan shares close flat, blue chips gain
Aug 20, 2009 (LBO) – Sri Lankan stocks closed flat Thursday as retail investors eyed undervalued mid-cap stocks to profit from an anticipated month-end technical correction, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.06 percent (1.58 points) to end at 2,524.62, while the Milanka index of liquid stocks gained 0.12 […]
US fund buys $875 Sri Lanka rupee bonds pushing reserves above $3bn: CB Governor
Aug 20, 2009 (LBO) – An 875 million US dollar inflow from a US-based fund will go into 4 and 6-year rupee bonds, helping push Sri Lanka’s foreign reserves above 3.0 billion dollars by Friday, Central Bank governor Nivard Cabraal said. The inflow will be directly matched with Treasury bonds and the Central Bank’s Treasury […]
Sri Lankan stocks close down 0.37-pct, rupee stable
Aug 19, 2009 (LBO) – Sri Lankan shares closed down Wednesday as retail investors took profits on the last few day’s gains, while the rupee stabilized against the greenback, brokers and dealers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.37 percent (9.44 points) to end at 2,521.24, while the Milanka index […]
Sri Lanka property eyed by Indian developer after war: report
Aug 19, 2009 (LBO) – India’s Puravankara Projects, a Bangalore-based developer is looking to start an upmarket housing project after a civil war ended, an Indian media report said, though the property market in the island is in the doldrums. The report said Puravankara’s Sri Lanka move comes at a time when Bangalore itself is […]
Sri Lanka on track to wrap international offering by October
Aug 18, 2009 (LBO) – Sri Lanka will shortly call for bids from international investment banks to help raise debt from international markets, with the deal to be completed by October, a top official said. A team of government officials went on a ‘non deal’ global road show to major financial centres arranged by HSBC […]