Category: Economy and Markets
Sri Lankan stocks up 3.93% during week
June 12, 2009 (LBO) – Sri Lankan shares ended higher Friday as retailers chased speculative stocks and a handful of blue chips, brokers said. The Colombo All Share Price Index closed up 1.55 percent (34.51 points) to end at 2,254.62 while the Milanka index of liquid stocks gained 1.70 percent (42.24 points) to close at […]
Sri Lankan shares close up 0.8-pct
June 11, 2009 (LBO) – Sri Lankan stocks closed up 0.8 percent Thursday as investors targeted fundamentally strong stocks while expectations were also strengthening that an International Monetary Fund (IMF) bail out would come, brokers said. The Colombo All Share Price Index closed up 0.80 percent (17.68 points) to end at 2,220.11 while the Milanka […]
Sri Lankan stocks up, investors buy blue chips
June 10, 2009 (LBO) – Sri Lankan shares closed up Wednesday as retail investors moved back to safe stocks from speculative counters, while tycoon Harry Jayawardena controlled Aitken Spence continued its bull-run, brokers said. “Investors who walk into the market should at least look at a three month investment horizon, as at present levels the […]
Sri Lanka ruling party popularity could help budget: S&P
June 10, 2009 (LBO) – The electoral popularity of President Mahinda Rajapaksa could help improve Sri Lanka’s budget by reducing the clout of smaller extremist parties, Standard & Poor’s rating agency has said. “With slowing growth, sharply falling imports and much lower inflation, official revenue goals and the deficit target of 7.5 percent of GDP […]
Sri Lanka bill yields edge lower
June 10, 2009 (LBO) – Sri Lanka’s Treasury bills yields edged marginally lower as the government sold 4.5 billion rupees of maturing bills to the market at Wednesday’s auction, the debt office said. However selling down the T-bill stock to lock up foreign reserves also puts pressure on interest rates.The 3-month yield fell to 03 […]
Sri Lanka activist targets 40 privatizations
June 9, 2009 (LBO) – A left-oriented politician who has successfully returned a large insurer back into state hands through court action says there about 40 other privatizations that need to be re-examined. Sri Lanka’s Supreme Court, in reversing the deal said it was illegal as proper procedure had not been followed and the transaction […]
Sri Lankan stocks close flat on profit taking
June 09, 2009 (LBO) – Sri Lankan shares lost early gains and closed down on Tuesday as investors took profits on selected blue chips, brokers said. “Retail participation was high today,” said Ganeshan. Conglomerate John Keells Holdings closed flat at 112.00 rupees. Diversified Hayleys gained 25 cents to close at 115.25, while privately held bank, […]
Sri Lankan stocks hit by profit taking
June 09, 2009 (LBO) – Sri Lankan shares lost early gains and closed down on Tuesday as investors took profits on selected blue chips, brokers said. The Colombo All Share Price Index closed down 0.35 percent (15.47 points) to end at 2,185.00 while the Milanka index of liquid stocks gained 0.98 percent (24.07 points) to […]
Sri Lanka central bank collects US$160mn since float
June 8, 2009 (LBO) – Sri Lanka’s central bank has bought 160.25 million US dollars from foreign exchange markets since a float of the currency in late March 2009, with 123.0 million collected in the month of May. As soon as the ‘quantity easing’ stops, the peg tightens. A float is necessary to break the […]
Sri Lankan shares up, rupee rock steady
June 08, 2009 (LBO) – Sri Lankan stocks gained Monday as investors regained their confidence after last week’s court order to reverse the 2003 privatization of Sri Lanka Insurance Corporation (SLIC) to the Distilleries Group, brokers said. The spot dollar remained unchanged at 114.90/95 levels in late afternoon trade, dealers said. The Colombo All Share […]
Iran inflation dips below 24 pct
TEHRAN, June 7, 2009 (AFP) – Iran’s inflation rate, one of the biggest economic challenges facing its next president, dipped last month to under 24 percent, the ISNA news agency reported on Sunday. His claim was dismissed by Karroubi.Inflation fell to 23.6 percent in the Iranian calendar month of Ordibehesht ending May 21 from 24.5 […]
Japan envoy to discuss Sri Lanka war victims: diplomats
June 7, 2009 (AFP) – Japan will send a special envoy to Sri Lanka this week to discuss the plight of nearly 300,000 Tamil civilians displaced by recent fighting, diplomats said Sunday. Japan, Sri Lanka’s largest single aid donor, was sending Yasushi Akashi on a three-day visit starting Monday to assess Colombo’s moves to re-settle […]