Category: Economy and Markets
Sri Lanka central bank says will maintain tight policy
April 30, 2008 (LBO) – Sri Lanka’s central bank will continue to maintain tight monetary policy to cope with the current economic turmoil, uncertainty and high prices, a senior official said. “Monetary policy will continue to be tight,” said Ranee Jayamaha, deputy governor of the Central Bank said Wednesday. “The exchange rate and the interest […]
Sri Lanka central bank tightens money targets
April 30, 2008 (LBO) – Sri Lanka’s central bank has tightened reserve money targets as 12-month inflation hit a new high of 25.0 percent in the capital Colombo on a new index while an older index showed an increase of 29.9 percent in April. The US has increasingly come under fire for firing a global […]
Sri Lankan shares flat; Dockyard, Lanka Cement draw interest
April 30, 2008 (LBO) – Sri Lankan shares closed virtually flat Wednesday with some interest in Colombo Dockyard and Lanka Cement, brokers said.The All Share Price Index was barely changed, up just 1.95 points (0.07 percent) to 2,632.96 while the more liquid Milanka index fell 2.35 points (0.07 percent) to 3,237.28. Turnover was 212 million […]
Sri Lanka business looks to manage interest, exchange volatility
April 29, 2008 (LBO) – Sri Lanka’s top business chamber is hosting a forum to provide deeper understanding of exchange rate and interest rate hedging amidst high volatility seen in recent years.“Sri Lanka has been experiencing chronic high interest rates and frequent exchange rate fluctuations and this has become a hotly debated topic in both […]
Sri Lanka 3-month yields fall
April 29, 2008 (LBO) — Sri Lanka’s benchmark 3-month Treasury bills fell 16 basis points to 18.51 percent, with the government re-selling 9 billion out of 11 billion rupees of maturing bills, the public debt office said.The public debt office, which is a unit of the country’s central bank, said the remaining bills were retired. […]
‘s stocks close marginally lower
April 29, 2008 (LBO) – Sri Lankan stocks closed lower Tuesday with investor sentiment gloomy owing to war jitters and a fall in the price of heavyweight John Keells Holdings, brokers said. Market activity was lower with trade volume less than ten million shares. Total turnover was 239.8 million rupees. Colombo Stock Exchange All Share […]
Sri Lanka mangrove conservation scheme gathers pace
April 28, 2008 (LBO) – A program to conserve Sri Lanka’s mangrove eco-systems is gathering pace with the support of coastal communities, government and private sector organizations, officials said. The Mangroves for the Future (MFF) initiative launched with the International Union for Conservation of Nature (IUCN), the United Nations Development Program (UNDP) is also working […]
Sri Lanka stocks dragged lower by Dialog Telekom, war fears
April 28, 2008 (LBO) – Sri Lanka stocks closed 0.51 percent lower, dragged down by a fall in the price of index-heavy Dialog Telekom and investor jitters over heavy army casualties in battle with Tamil Tigers, brokers said Monday. The All Share Price Index of the Colombo Stock Exchange closed 13.56 points (0.51 percent) lower […]
Sri Lanka blast kills 12 and injures 30
April 25, 2008 (LBO) – A blast near a crowded bus station South of Sri Lanka’s capital Colombo has left at least 12 dead and more than a 40 injured, police and eyewitnesses said. The explosion went off in the suburb of Piliyandala during the evening rush hour at around 6.45 pm authorities aid. An […]
Sri Lanka private sector credit falls further: Central Bank
April 23, 2008 (LBO) – Sri Lanka’s private sector credit growth has fallen to 15.8 percent in February from the highs of 25 to 26 percent reach in 2007, but credit to state enterprises should fall further, the Central Bank said. “Although credit to public corporations also declined to 47.5 billion rupees during the month […]
Sri Lanka to subsidize dairy credit amid high interest rates
April 23, 2008 (LBO) – Sri Lanka’s government will give interest subsidies for banks to lend up to 5,000 million rupees to dairy farmers and agricultural processors, the country’s central bank said. “With the sharp increase in the prices of milk powder and food crops in global markets, a favourable environment has been created for […]
Sri Lankan stocks edge up on AMW, East-West interest
April 23, 2008 (LBO) – Sri Lankan shares closed higher Wednesday largely driven by trading in Associated Motorways, East-West Properties and Dialog Telekom, brokers said.All Share price Index went up 8.26 points (0.31 percent) to 2,681.27 while the more liquid Milanka rose 15.41 points (0.47 percent) to 3,322.63. Turnover was 303 million rupees. “AMW has […]