Category: Economy and Markets
Sri Lanka negotiating more forex swaps, Jan intervention U$251mn: Central Bank
Mar 02, 2009 (LBO) – Sri Lanka’s central bank says it is negotiating two swap agreements with central banks to boost the country’s flagging foreign reserves, as interventions continue to pressure the rupee. Sri Lanka’s gross official reserves fell to 1,753 million US dollars in December. The latest official data shows that the Central Bank […]
Sri Lankan stocks close down
Mar 02, 2009 (LBO) – Sri Lankan shares took a beating on Monday as investors preferring to stay away in the wake of poor corporate results published during the weekend, analysts said. Fixed line giant Sri Lanka Telecom was down 75 cents to close at 35. Foreign buying was at 17.5 million rupees, while foreign […]
Sri Lanka at risk of economic damage from AIDS: World Bank
March 01, 2009 (LBO) – A new World Bank report says Sri Lanka must improve HIV/AIDS prevention programmes to prevent the disease causing economic damage.Conditions contributing to high vulnerability include the war, high mobility of soldiers and refugees, and separation of spouses due to overseas employment, said the report on how HIV and AIDS in […]
”
Feb 28, 2009 (LBO) – The cut in the outlook of Sri Lanka’s ‘B+’ sovereign rating to ‘negative’ by Fitch Ratings is ‘unwarranted’ and ‘pessimistic’ the island’s Central Bank said. The Central Bank said the rating agency had a “pessimistic view” of various measures being taken by Sri Lanka to increase the country’s flagging foreign […]
Sri Lankan stocks end weaker
Feb 27, 2009 (LBO) – Sri Lankan shares ended weaker Friday with several Ceylinco group company share prices falling after news of the chairman’s arrest although Seylan Bank ended up, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index eased 0.26 […]
Sri Lanka outlook lowered to negative by Fitch, B+ rating affirmed
Feb 27, 2009 (LBO) – Fitch Ratings has lowered Sri Lanka’s long-term foreign currency sovereign credit outlook to negative from stable while confirming its rating at ‘B+’ and short-term rating at ‘B’. In 2009, Fitch forecasts the trade deficit will fall to 3.5 billion dollars and the current account will decline to 2.1 billion dollars, […]
Sri Lanka February inflation falls to 7.6-pct
Feb 27, 2009 (LBO) – Sri Lanka’s inflation in the 12 months to February 2009 measured by the revised Colombo Consumer Price Index (CCPI) fell to 7.6 percent from 10.7 percent in January, the government statistics office said. However Sri Lanka is now in the middle of a severe balance of payments crisis, and the […]
Sri Lanka rupee intervention rate lowered
Feb 26, 2009 (LBO) – An intervention rate quoted by a state bank in Sri Lanka’s US dollar spot market was raised to 114.25 rupees from 113.85 Thursday, and quotes in the value tomorrow market moved up to 114. 95/115.10 rupees, dealers said. The rupee hit a low of 114.80 on Wednesday in the value […]
Sri Lankan stocks weaken amid foreign selling
Feb 26, 2009 (LBO) – Sri Lankan shares lost ground Thursday, with the benchmark index slipping below the 1,700 point mark amid heavy foreign selling, brokers said.There was also active trading in Lanka India Oil Corporation which ended up 25 cents at 17.50 rupees. In forex markets the US dollar fell as low as 115.30 […]
Sri Lankan stocks tumble
Feb 25, 2009 (LBO) – Sri Lankan shares lost 1.19 percent Wednesday with the indices dragged down by losses in heavyweights like Dialog Telekom after it reported a big loss in the December quarter, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
‘s tax office back in business
Feb 25, 2009 (LBO) – Sri Lankan tax payers are being asked by the Inland Revenue Department (IRD) to continue to pay their dues, as the island’s tax office is operating as usual after last week’s Tamil Tiger air attack on its headquarters building. A government minister said the IRD’s tax data base had not […]
Sri Lanka rupee falls to 114.80 in bizarre trade; Bill stock Rs184bn
Feb 25, 2009 (LBO) – The Sri Lanka rupee fell to a new low of 114.80 against the US dollar in value tomorrow trade with buying from a state bank, while spot dollars continued to be offered at 113.85 rupees also by a state bank, dealers said.Since September the Central Bank has lost more than […]