Category: Economy and Markets
Sri Lanka oil derivative case takes new turn
Jan 13, 2008 (LBO) – Public interest litigants who petitioned Sri Lanka’s Supreme Court to halt payments on oil derivatives have said they are willing to terminate their cases, if court orders are not carried out, lawyers said. But court had responded saying that the exercise was about judicial review of executive action through a […]
Sri Lanka central bank cuts penal rate by 200 basis points to 17%
Jan 12, 2009 (LBO) – Sri Lanka’s central bank said it had cut the rate on its unrestricted discount window by 200 basis points to 17 percent, with immediate effect.Inflation as measured by the year-on-year change in the Colombo Consumers’ Price Index (base=2002), which reached 14.4 per cent by end-2008, is expected to further decelerate […]
Sri Lanka Dialog, cable company shares weaken
Jan 12, 2009 (LBO) – Sri Lanka’s dominant mobile firm Dialog Telekom sank below five rupees on the Colombo bourse Monday as India’s Bharti Airtel entered the market while cable companies fell sharply on news of copper hedging losses at one firm. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Sri Lanka shares slide in thin trade
Jan 09, 2009 (LBO) – Trading on Sri Lanka’s stock exchange virtually dried up Friday as turnover fell to a mere 18 million rupees and the market ending marginally weaker with Lanka Cement being the most actively traded stock, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Sri Lanka shares head down, Seylan Bank draws interest
Jan 08, 2009 (LBO) – Sri Lankan shares ended marginally weaker Thursday in thin trade and sentiment remaining gloomy with active, albeit low volume, trading in Seylan Bank, the subject of takeover interest, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
Sri Lanka foreign reserves at US$2,030mn in November
Jan 07, 2008 (LBO) – Sri Lanka’s foreign reserves fell to 2,030 million US dollars in November 2008, from 2,374 million in October, which was enough to cover 1.7 months of imports, the Central Bank said.The gross reserves before the Asian Clearing Union (ACU) balance was 2,608 million US dollars which was enough to finance […]
Sri Lanka offers govt. securities to expatriate workers
Jan 07, 2009 (LBO) – Sri Lanka has appointed five domestic banks and a primary dealer of government securities as lead managers to sell gilts to expatriate citizens, the Central Bank said in a statement. The six lead managers are Bank of Ceylon, Commercial Bank, National Savings Bank, NatWealth Securities Ltd., People’s Bank and Sampath […]
Sri Lanka bond rates ease amid flight to quality
Jan 07, 2008 (LBO) – Sri Lankan gilts edged lower amid a flight to quality and excess liquidity in the inter bank market, as well as lower inflation expectations for the current year, dealers said. A bond maturing in April 01, 2012 fell from the auction level of 20.02 percent to 19.80 percent levels and […]
Sri Lanka shares barely changed in thin trade
Jan 07, 2009 (LBO) – Sri Lankan shares ended marginally firmer Wednesday with volumes falling even further and speculative trading in Lanka Cement which said it had resumed cement sales. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index edged up 0.04 percent […]
Sri Lanka shares end down in thin trade
Jan 06, 2009 (LBO) – Sri Lankan shares ended weaker Tuesday in thin trade, ignoring more military gains against Tamil Tiger rebels, brokers said.Ceylinco Insurance closed up 8.57 percent or 15 rupees at 190 rupees although share prices of most other listed members of the Ceylinco group weakened or remained flat. The Ceylinco Group has […]
Sri Lanka negotiating currency swaps with foreign central banks: CB Governor
Jan 06, 2009 (LBO) – Sri Lanka’s is negotiating with foreign central banks to establish swap arrangements to increase its access to foreign currency, central bank governor Nivard Cabraal said. The Central Bank said it was looking for alternative ways of raising external finance after hedge fund money that came into the Treasuries market left […]
Sri Lanka shares weaken despite military gains
Jan 05, 2009 (LBO) – Sri Lankan shares shed early gains to end 1.11 percent weaker Monday despite more military successes against Tamil Tiger rebels, with brokers saying the market is likely to remain quiet until investment funds return.The army made more gains Monday, seizing another town held by the rebels as they pushed deeper […]