Category: Economy and Markets
Sri Lanka stocks slump
Feb 05, 2009 (LBO) – Sri Lankan shares slumped Thursday, dragged down by losses in blue chips with trading likely to remain choppy as investors take advantage of market upturns to book profits, brokers said. Brokers said that although military gains against the Tigers could end the war and restore economic stability, the global slowdown […]
Sri Lanka rupee touch 114.05 in tom trade; CB T-bill stock Rs162bn
Feb 05, 2009 (LBO) – The US dollar touched 114.05 rupees in active ‘value tomorrow’ dealing with a state bank on the buying side Thursday, despite official intervention at a lower rate on spot trades, dealers said.The spot dollar – which is settled two market days later – is closely watched by authorities, with a […]
Sri Lanka stocks down again
Feb 03, 2009 (LBO) – Sri Lankan shares were dragged down again Tuesday by losses in index heavy stocks with earnings that companies have begun to report for the December quarter being mostly poor as anticipated, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Sri Lanka bill yields edge up
Feb 03, 2009 (LBO) – Sri Lanka’s Treasury bill yields edged up at Tuesday’s auction with a larger volume of bills being sold compared to a week earlier, the government’s debt office said, reversing a steadily easing trend seen over several weeks.The 3-month yield gained 05 basis points to 15.99 percent, the 6-month yield gained […]
Sri Lanka targets US$500mn from diaspora: CB Governor
Feb 02, 2009 (LBO) – Sri Lanka is planning to sell 500 million dollars of government securities to the diaspora community in 2009 with a road show to be kicked off this month in 11 countries, Central Bank Governor Nivard Cabraal said. The money will be channeled into the country through a forex account which […]
Sri Lanka central bank to swap rupees for dollars
Feb 02, 2008 (LBO) – Sri Lanka’s Central Bank is negotiating with friendly central banks to swap rupees for dollars, to boost the country’s flagging foreign reserves and meet unforeseen outflows, officials said.Central Bank Governor Nivard Cabraal said the first such swap deal is likely to be concluded ‘soon’ but declined to give a date […]
Sri Lanka to have single digit inflation in 1Q09: CB Governor
Feb 02, 2009 (LBO) – Sri Lanka is expecting single digit inflation in the first quarter of 2009, and further falls in interest rates, Central Bank Governor Nivard Cabraal said, less than a year after the island recorded its highest inflation of close to 30 percent. The Colombo Consumer Price Index (CCPI), whose weights were […]
Sri Lanka stocks dragged down by heayweights
Feb 02, 2009 (LBO) – Sri Lankan shares were dragged down Monday by losses in heavyweights over earnings concerns with Lanka Cement the most actively traded stock in anticipation of a revival in construction activity, brokers said.Commercial Bank fell 2.62 percent (2.50 rupees) to 93 rupees with investors remaining worried over suspended oil hedge payments […]
Most governments fail to account for spending: report
WASHINGTON, January 31, 2009 (AFP) – Eighty percent of the world’s governments fail to provide adequate information on spending to the public, often because of a lack of political will, according to a report published Saturday. The International Budget Partnership (IBP), a non-governmental organization that promotes transparency in government, said it evaluated the budgets of […]
Sri Lankan stocks slide 0.75 percent
Jan 30, 2009 (LBO) – Sri Lanka shares closed down 0.75 percent Friday, dragged down by worse-than-expected third quarter earnings of index heavy John Keells Holdings (JKH), dealer said. Foreign investors bought 27.3 million rupees with shares, and sold 85.4 million rupees worth shares, resulting in net sales of 58.1 million rupees. The All Share […]
Zimbabwe lifts foreign currency restrictions
HARARE, January 29, 2009 (AFP) – Zimbabwe scrapped restictions on foreign currency on Thursday to prop up its ailing economy, as the United Nations warned that more than half the population needs emergency food aid.Hours after grim estimates by UN agencies also showed that just six percent of its population is formally employed, acting finance […]
Sri Lanka inflation falls to 10.7-pct
Jan 30, 2009 (LBO) – Inflation in the 12-months to January 2009 measured by the revised Colombo Consumer Price Index (CCPI) fell to 10.7 percent from 14.4 percent in December, the government’s statistics office said. The moving average of the index, which is a lagging indicator, fell to 21.6 percent from 22.6 percent. Sri Lanka […]