Category: Economy and Markets
Sri Lanka central bank rejects all bids at auction
Sept 30, 2008 (LBO) – Sri Lanka’s central bank rejected an entire Treasury Bill auction on Tuesday bringing back memories of dark days in June 2007 when two auctions were absorbed by the central bank, and the country was plunged into a currency crisis soon after. The central bank was however in the market later […]
Sri Lankan stocks continue to tumble
Sept 29, 2008 (LBO) – Sri Lankan stocks lost more than one percent in lackluster trading Monday as market heavyweights like Dialog Telekom, Commercial Bank and NDB tumbled amidst weak investor participation, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
UN says will restart Sri Lanka food aid
COLOMBO, September 28, 2008 (AFP) – The United Nations said on Sunday it would send food to those displaced by fighting in Sri Lanka’s rebel-held north, two weeks after aid workers were ordered out of the region. Sri Lankan forces are moving to dismantle the northern stronghold of the rebels, formally known as the Liberation […]
Sri Lanka shares sink again
Sept 26, 2008 (LBO) – Sri Lankan shares sank again Friday as investors remained on the sidelines with a big deal CT Land Development propping up turnover on an otherwise dull day, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Sri Lanka lease-backed security retains rating: Fitch
Sept 26, 2008 (LBO) – A lease-backed security issued by Sri Lanka’s People’s Leasing Company, using a trust mechanism, has retained its ‘A-(lka)’ rating which is the same as the originator, Fitch Ratings said.While credit enhancements were enough to support a higher rating, Fitch says there was an unhedged interest rate risk on the floating […]
Protests in Sri Lanka Ponzi capital
Sept 26, 2008 (LBO) – Protests erupted against authorities in a sleepy Sri Lankan fishing village which can almost lay claim to be the Ponzi capital of the world, after a financier in the area was blacklisted as running an illegal business, police and residents said. The Central Bank of Sri Lanka named Piyadasa Ratnayake, […]
Sri Lanka John Keells in share buyback
Sept 25, 2008 (LBO) –Sri Lanka’s John Keells Holdings (JKH) said it would give back 2.2 billion rupees to shareholders through a buy back of one share for every 25 held at 90 rupees. The shares are being bought back above the market price. JKH closed at 86.25 rupees on Wednesday. The firm sold rights […]
Sri Lanka NSB to raise US$100mn loan
Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is raising a 100 million US dollar one-year loan with Citibank Sri Lanka with the deal to be wrapped up by mid-October, an official said. To recieve instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The NSB […]
Sri Lanka T-bill rates spike
Sept 25, 2008 (LBO) – Sri Lanka’s Treasury bill yields spiked at Wednesday’s auction while the government resumed sales of 3-month bills, the government’s debt office said.The 12-month bill yield also spiked 72 basis points 19.06 percent. The government raised 525 million rupees selling 3-month bills at 17.22 percent after an absence of several weeks. […]
Sri Lanka shares weaken further
Sept 25, 2008 (LBO) – Sri Lankan shares weakened further Thursday, dragged down by falls in blue chips as small investors stayed away, unable to make gains in a stagnant market, brokers said.It fell 25 cents to end at nine rupees with 619,700 shares traded. LIOC was the second most actively traded stock.It fell 75 […]
Sri Lanka shares becalmed, Chevron unit draws interest
Sept 24, 2008 (LBO) – Sri Lankan shares ended barely changed Wednesday with turnover slumping to very low levels as investors stayed away owing to uncertainty about future company earnings and the economy, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
France calls for punishment as 2008 paper money debacle unfolds
Sept 23, 2008 (LBO) – French president Nicolas Sarkozy called for those responsible for a global financial crisis to be punished as the biggest debacle so far in a modern re-incarnation of fiat paper money unfolded on its 35th anniversary. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]