Category: Economy and Markets
Sri Lanka Keells Food share price perks up on higher profits
Jan 31, 2008 (LBO) – Sri Lankan stocks ended higher Thursday with two foreign crossings of Dialog Telekom propping up turnover.. The All Share Index went up half a percentage point or 12.34 points to 2,446.13 while the liquid Milanka index closed up 0.69 percent or 21.45 points at 3,113.07. Turnover went up to 325 […]
Sri Lanka negotiates more trade, investment deals
Jan 31, 2008 (LBO) – Sri Lanka is negotiating more free trade and investment deals with other countries to increase trade and foreign investment, the Foreign Affairs Ministry said Thursday. Two rounds of talks were held in January with neighbours India and Pakistan on free trade and investment agreements while the first negotiations on an […]
Sri Lanka maiden sovereign bond wins award
Jan 31, 2008 (LBO) — Sri Lanka’s 500 million dollar maiden sovereign bond, issued last October soon after the sub-prime bubble broke, has bagged a top award from an international financial publication. Finance Asia named Sri Lanka’s issuance the best sovereign bond as it was pulled off amid difficult circumstances. The bond was lead-managed by […]
Sri Lanka treasury yields steady, tap open
Jan 30, 2008 (LBO) — Average yields at a Treasury bill auction remained steady Wednesday but the government was fishing for more cash after the auction, dealers and the debt office said. Treasuries were extensively sold on ‘tap’ after the auction by the debt office, which is part of the Central Bank, in December 2007, […]
Sri Lanka stock buyers push up Royal Ceramics
Jan 28, 2008 (LBO) – Sri Lankan stocks closed higher Monday with investors pushing up the tile maker Royal Ceramics after it announced higher profits for the December quarter. The rupee traded around 108.02/10 earlier in the day and overnight money was around 15-16 percent, dealer said. The All Share Index ended up 14 points […]
US presidential hopeful Ron Paul slams stimulus package, Fed rate cuts: report
Jan 27, 2008 (LBO) – Republican presidential hopeful Ron Paul has slammed a US economic stimulus package based on tax-refunds and called for fiscal prudence and less Federal Reserve money printing, which caused the current turmoil in the first place. . Related video: Ron Paul taking on Fed Chairman Ben Bernanke. Paul says the actual […]
Sri Lanka risks credit downgrade from US fallout: S&P
Jan 28, 2008 (LBO) – Sri Lanka is at risk of a credit downgrade from a recession in the United States, especially if domestic policies become more expansionary, the ratings agency Standard and Poor’s (S&P) said. Sri Lanka has a B+ rating with a ‘stable’ outlook. “Sri Lanka would face the global slowdown from a […]
Sri Lanka to scrap country-wide index after inflation jumps to 26.2-pct
Jan 25, 2008 (LBO) — Sri Lanka will scrap a country-wide price index that showed a record 26.2 percent inflation in November 2007, officials said.“By releasing several indices, or making public aware of several indices, problems have come up,” Sri Lanka’s statistics chief Suranjana Vidyaratne said. “Though we have done this as a technical subject […]
Sri Lanka sees build up of bipartisan support for inflation targeting
Jan 26, 2008 (LBO) — A senior opposition lawmaker in Sri Lanka has expressed support for inflation targeting, in a build up of bipartisan backing for legal changes needed to take the country towards low inflation.. “If you print money inflation is going to go up,” parliamentarian Kabir Hashim, an economic policy heavyweight in the […]
Sri Lankan share prices slump, trading dries up
Jan 25, 2008 (LBO) – Sri Lankan stocks weakened further Friday with trading drying up to just a trickle as investors stayed away from the market owing to political and economic uncertainty. The All Share Index fell 3.21 points to 2,433.50 while the liquid Milanka index closed hardly unchanged at 3,125.25. Turnover slumped to 66 […]
Sri Lanka stocks lose momentum
Jan 24, 2008 (LBO) — Sri Lanka stocks closed lower Thursday losing some of the gains made a day earlier after a hideout of Tamil Tiger leader Vellupillai Prabhakharan was bombed. The All Share Index closed 0.64 percent lower, falling 15.68 points to 2,436.71 and the liquid Milanka index closed 0.78 percent or 24.61 points […]
Sri Lanka central bank says no excessive money printing
Jan 23, 2008 (LBO) — Sri Lanka’s central bank says allegations of excessive money printing are “baseless” despite using central bank credit of 45.2 billion rupees to purchase treasury bills up to September 2007. “The attention of the Central Bank has been drawn to a few mischievous and /or erroneous reports where allegations have been […]