Category: Economy and Markets
Sri Lanka state bank raises Rs4.2bn from bonds
Nov 24, 2008 (LBO) – Sri Lanka’s state-run Bank of Ceylon has raised 4.27 billion rupees from 5-year bonds in fixed and floating rates, issue managers Merchant Bank of Sri Lanka said. The debenture would be listed on the DEX board of the Colombo Stock Exchange. Bank of Ceylon has a ‘AA(lka)’ rating from Fitch.The […]
China, India rising, but face bumpy ride: intelligence forecast
WASHINGTON, November 22, 2008 (AFP) – A new US intelligence forecast identifies China and India as rising heavyweights in a coming multi-polar world but says both face a potentially bumpy ride to the top.“Although we believe chances are good that China and India will continue to rise, their ascent is not guaranteed and will require […]
Obama readies economic team with New York Fed boss tipped for Treasury secy
WASHINGTON, November 22, 2008 (AFP) – The economic team of US president-elect Barack Obama came into view Friday as fears mounted on the global financial crisis and more mass job cuts loomed worldwide.Reports said Obama was set to appoint New York Federal Reserve chief Timothy Geithner as his Treasury secretary to take charge of fixing […]
Sri Lankan stocks fall sharply in thin trading
Nov 21, 2008 (LBO) – Sri Lankan stocks fell sharply Friday with a small net foreign inflow although trading volumes were low in what share market analysts described as a delayed reaction to the plunge in global markets yesterday. Chemical Industries (Colombo) with 14.2 million rupees, and Lanka Lubricants with 12.9 million rupees topped the […]
Sri Lanka has a chance to attract shifting industries: economist
Nov 20, 2008 (LBO) – Sri Lanka has a chance to attract industries from advanced nations in the wake of current turmoil if the country can put its house in order with a longer term view and create a strong base for industry, an economist has said. To receive instant alerts from LBO on your […]
Sri Lanka high-value shares draw interest
Nov 20, 2008 (LBO) – Sri Lankan stocks closed virtually flat on Thursday with high-value stocks like John Keells Holdings drawing interest, brokers and analysts said. The Colombo All Share Price Index fell 0.33 percent (5.74 points) to end at 1,1711.78 while the Milanka index of liquid stocks fell 0.01 percent (0.23 points) to 1,927.21. […]
Sri Lanka capital projects may be delayed but disinflation faster amid global turmoil: interview
Nov 20, 2008 (LBO) – Sri Lanka has plans to borrow abroad next year at commercial rates to repay maturing loans and keep its infrastructure projects on track. While raising new money is difficult, ongoing global turmoil is tempering commodity prices, helping price stability. ETV’s Lanka Business Report programme discussed the challenges facing Sri Lanka […]
US consumer prices plunge record 1.0 pct in October
WASHINGTON, November 19, 2008 (AFP) – US consumer prices plunged a record 1.0 percent in October amid an accelerating global financial crisis, government data showed Wednesday. The one-month decline in the Labor Department’s consumer price index (CPI) was the steepest since the department began publishing seasonally adjusted changes in February 1947 and exceeded analysts’ consensus […]
Sri Lankan stocks close 2.0-pct lower
Nov 19, 2008 (LBO) – Sri Lankan stocks closed 2.0 percent lower Wednesday with a poor earnings outlook and high interest rates keeping buyers at bay, and the effects of a global downturn biting harder, dealers said. The Colombo All Share Price Index fell 36.41 points to end at 1,717.52 while the Milanka index of […]
Sri Lanka treasuries yields flat
Nov 19, 2008 (LBO) – Sri Lanka treasuries yields were flat with only 1.7 billion rupees of bills out of a maturing tranche of 5.0 billion rupees being sold, the government’s debt office said.Meanwhile, dealers said 2-year bonds were being offered at 21.0 percent. The 3-month yield was 17.20 percent, the 6-month yield 18.28 percent […]
Sri Lanka shares head down
Nov 18, 2008 (LBO) – Sri Lankan stocks resumed their downward march Tuesday after a brief halt the day before but with trading volumes drying up and the bearish trend likely to continue, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
” under current conditions: official
Nov 18, 2008 (LBO) – Sri Lanka’s infrastructure projects could face delays if the island is unable to raise over half a billion dollars though commercial loans amid tough conditions in global financial markets, a top official said. “The government needs external financing of around 500 million dollars in commercial money for financing counterparty funds […]