Category: Economy and Markets
Sri Lanka shares driven up on SLT trades ahead of court ruling
Mar 04, 2008 (LBO) – Sri Lankan stocks extended gains on Monday to close higher Tuesday, pushed up by speculative trading in index-heavy Sri Lanka Telecom, brokers said.The All Share Price Index gained 28.71 points or 1.13 percent to close at 2,562.25 while the more liquid Milanka went up 41.08 points or 1.29 percent to […]
Sri Lanka shares edge higher, LMF draws interest
Mar 03, 2008 (LBO) – Sri Lankan stocks closed slightly higher Monday with a crossing of Sampath Bank shares and heavy in Lan trading in Lanka Milk Foods helping turnover, brokers said. Market heavyweight Dialog Telekom closed flat at 17.75 after going up to 18.00 during the day. The All Share Price Index gained 2.68 […]
South Asia gets more FDI despite problems; political risk in Pakistan, Sri Lanka, Afghanistan
MANILA, Feb 29, 2008 (AFP) – Robust near-term economic growth should drive strong foreign direct investment flows into South Asia despite corruption, poor infrastructure, rigid labour laws and civil unrest, the Asian Development Bank said Friday.FDI flows into the Indian sub-continent had risen rapidly since 2004, growing by 132.9 percent in 2006 to 24.3 billion […]
Sri Lanka inflation increases to 21.6 percent in February
Feb 29, 2008 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 21.6 percent in the 12-months to February from 20.8 percent, with the index gaining 2.8 percent in the past month, while an older index showed a 0.7 percent increase. In the first half of 2007 the monetary authority was successful in combating […]
Sri Lanka stocks close lower; Sampath Bank trades boost turnover
Feb 29, 2008 (LBO) – Sri Lanka’s shares closed lower on Friday with index heavy Dialog Telekom and John Keells Holdings losing ground, dealers said.The All Share Index closed 0.36 percent 9.08 points) lower at 2,530.86 while the Milanka index shed 0.36 percent (11.56 points) to close at 3,172.21. The weekly average turnover was 648.5 […]
Sri Lanka syndicated loan hopefuls talk joint deal
Feb 28, 2008 (LBO) – Five foreign banks who bid to syndicate a 300 million US dollar loan for Sri Lanka are discussing an alternative deal to club together and find the money, bankers said. . Sri Lanka’s central bank, which manages the island’s public debt office, invited foreign banks to arrange a 5-year dollar […]
Sri Lanka share trading zooms over Rs 1 bln on telecom, banking deals
Feb 27, 2008 (LBO) – Trading in Sri Lanka’s share market went over a billion rupees Wednesday following deals in telecom and bank shares which helped the market end marginally higher. The All Share Index climbed 6.5 points to end at 2,534.19 while the Milanka Index closed 13.07 points higher at 3,202.12. Turnover reached 1.16 […]
Sri Lanka to release new currency notes
Feb 27, 2008 (LBO) – Sri Lanka will release new currency notes under the signature of president Mahinda Rajapaksa, who is also the finance minister, and governor Nivard Cabraal, the Central Bank said. This week the central bank invited ideas for a new series of notes. A 1,000 rupee note with the new signature will […]
Sri Lanka rupee reasonably stable: CB governor
Feb 27, 2008 (LBO) – The Sri Lanka rupee has been “reasonably stable”, Central Bank Governor Nivard Cabraal said, as the currency held rock-steady against the US dollar amid tight monetary policy. “The rupee has been made reasonably stable,” governor Cabraal told a gathering of bankers at a micro finance seminar in Colombo Wednesday. “It […]
Sri Lanka treasury bills yields ease
Feb 27, 2008 (LBO) — Sri Lanka’s treasuries yields edged lower at Wednesday’s auction with the 3-month yield falling 11 basis points to 18.48 percent, the government’s debt office said. The 6-month yield fell 03 basis points to 18.97 percent and the 12-month yield fell 06 basis points to 19.04 percent. The government raised 5.9 […]
Sri Lanka should overhaul monetary policy: economist
Feb 26, 2008 (LBO) — Sri Lanka should overhaul its monetary framework in the light of 20 percent plus inflation as such high levels could only be generated domestically by a central bank, a top Sri Lankan born economist has said.“There is no huge mystery to inflation, and I have run into people here who […]
Sri Lanka investors drive up Lankem in plantations chase
Feb 26, 2008 (LBO) – Sri Lankan stocks closed higher Tuesday with investors driving up the price of Lankem Ceylon, a group with interests in plantations which are seen making higher profits, brokers said. The All Share Price Index gained 6.64 points or 0.26 percent to close at 2,527.62 while the more liquid Milanka index […]