Category: Economy and Markets
Sri Lankan stocks close down 0.7-pct
Feb 12, 2009 (LBO) – Sri Lankan stocks closed down 0.7 percent with institutional investors still waiting in the sidelines awaiting lower interest rates, though some foreign buying was seen, brokers said. Aitkin Spence Hotels gained two rupees to close at 100.Touchwood Investment gained 1.25 rupees to close at 64.50. The Colombo All Share Price […]
Sri Lanka cuts policy rates
Feb 11, 2009 (LBO) – Sri Lanka’s central bank has cut its discount rate that sets the upper limit of inter-bank transactions by 50 basis points to 16.50 percent and a restricted window by 25 basis points to 12.00 percent, amid falling inflation. “Inflation has been on a path of rapid deceleration, benefiting from the […]
Sri Lanka fund manager to arbitrage risk anomaly
Feb 11, 2009 (LBO) – A fund management firm founded by senior Sri Lankan bankers say it can bridge the gap between low yielding bank deposits and risky high yield assets, by arbitraging an anomaly in the risk to reward structure in the island. Chief executive of Wealth Trust, Dhammika Ranawana, who counts years of […]
Sri Lanka treasuries yields ease after rate cut
Feb 11, 2009 (LBO) – Sri Lanka’s Treasuries yields fell less-than-expected across maturities following a 50 basis point cut in the island’s de facto policy discount rate, dealers said. Since Friday the market had already partially discounted the rates cuts, they said. The Central Bank cut the 17.0 percent unrestricted ‘penalty’ reverse repo rate, which […]
Sri Lankan shares dip
Feb 11, 2009 (LBO) – Sri Lankan stocks had mixed fortunes on Wednesday as high value stocks like Bukit Darah and Carson Cumberbatch dragged the market down on low volume transactions while selected blue chips gained, brokers said. The All Share Price Index ended down 0.22 percent (3.95 points) at 1,761.93 while the more liquid […]
Sri Lankan shares close marginally up
Feb 10, 2009 (LBO) – Sri Lankan stocks ended slightly up Tuesday with speculative trading on Lanka Cement by small investors, as high-net-worth and institutional investors stayed away owing to fears of poor company earnings, brokers said. The All Share Price Index ended up 0.21 percent (3.77 points) at 1,765.88 while the more liquid Milanka […]
Indonesia to issue 12-pct Islamic bonds
JAKARTA, February 10, 2009 (AFP) – Indonesia launched its first retail Islamic bond this month hoping to catch up with its neighbours in the Islamic finance business and help fund a six-billion-dollar economic stimulus package. It may be the world’s most populous Muslim country and Southeast Asia’s largest economy but Indonesia has been slow to […]
Sri Lanka ancient economy may have been hit by monetary debasement: economist
Feb 10, 2009 (LBO) – A period of prosperity based on international trade, under an ancient Sri Lankan king may have declined following monetary debasement, as well as a decline in external trade, a top economist in the island said.Central Bank deputy governor W A Wijewardene says, during the reign of king Parakramabahu the Great […]
Sri Lanka headline inflation extends fall below core
Feb 07, 2009 (LBO) – Sri Lanka’s headline inflation fell further below the country’s controversial core inflation number, mimicking the US experience in the early 1980s, amid a deflating commodity bubble and fresh attempts to tinker with the index. The latest twist comes at a time when, not only the concept of targeting ‘core’ inflation, […]
Sri Lanka stocks becalmed
Feb 06, 2009 (LBO) – Sri Lankan shares were barely changed Friday with the most actively traded stock being Lanka Cement, which has a defunct plant in the north that could be revived if the ethnic war ends, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
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 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 […]