Category: Economy and Markets
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 […]
” 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 […]
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 […]
Sri Lanka stocks open higher; rupee flat amid intervention
Nov 17, 2008 (LBO) – Sri Lanka stocks opened up 0.89 percent amid thin turnover following a slew of poor earnings over the past week, and the rupee was flat against the greenback at 110.0 amid intervention, dealers said. The Colombo All Share Index was up 16.0 points and the Milanka index of liquid stocks […]
Sri Lanka blue chip gains nudge indices up
Nov 17, 2008 (LBO) – Sri Lankan shares ended barely changed Monday with gains in blue chips lifting the indices and transactions in John Keells Holdings (JKH), whose buy-back offer ends tomorrow, boosting turnover, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lanka should tap IMF, get economic antibiotics: economists
Nov 17, 2008 (LBO) – Sri Lanka should tap the International Monetary Fund for a stabilization package early as the country is heading for balance of payments trouble and unsustainable budget deficits, a top economist has said. IMF conditions bring fiscal prudence, and tight monetary policy, making it difficult for politicians to coddle loss making […]
Sri Lanka cuts money target for third quarter, amid currency trouble
Nov 14, 2008 (LBO) – Sri Lanka’s central bank has cut the reserve money target for the fourth quarter of 2008, amid warnings that its monetary program has been severely de-stabilized by currency intervention and liquidity injections. The Central Bank said the fourth quarter reserve money target has been cut to 285 billion rupees, from […]
Sri Lanka shares weaken, DFCC trade pumps up volume
Nov 14, 2008 (LBO) – Sri Lankan shares continued to slide Friday with trading volumes increased by a large transaction in DFCC and a net inflow of foreign funds, although brokers said they expect the market to remain bearish.Foreign buying was 372 million rupees and sales 108 million rupees with a net inflow of foreign […]
Sri Lanka bilingual education gets World Bank priority
Nov 13, 2008 (LBO) – The World Bank said one of the aims of its new aid programme for Sri Lanka was to help achieve ethnic harmony through bilingual education and mixed schooling of the island’s two main communities. World Bank country director Naoko Ishii said the new country assistance strategy was designed to be […]
Sri Lanka scores poorly in ease of paying tax ranking
Nov 13, 2008 (LBO) – Sri Lanka has been ranked near the bottom of a new global ranking on paying taxes, making it one of the most difficult countries for business to pay their dues.Among the key findings of the study are that economies that rank highly on the ease of paying taxes tend to […]
Sri Lanka petroleum utility hedged to save forex: official
Nov 13, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation hedged its imports after being pushed by the island’s central bank in a bid to save foreign currency reserves of the country, a top official said.CPC started hedging in early 2007 after the island’s cabinet of ministers and a committee in which the central […]
Sri Lanka shares weaken further
Nov 13, 2008 (LBO) – Sri Lanka’s main share market index slumped two percent Thursday with liquidity drying up as investors stayed away from trading given uncertainties over economic and corporate growth, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]