Category: Economy and Markets
Sri Lanka slams S&” outlook cut
Feb 15, 2008 (LBO) – Sri Lanka’s central bank has slammed Standard and Poor’s (S&P) over an outlook cut saying the move was unwarranted, illogical, ill-advised, and without rational basis. “It is abundantly clear that S&P has chosen to overlook the many favourable factors and are, for reasons best known to them, suddenly discovering weaknesses […]
Sri Lanka tile shares rise on earnings outlook
Feb 14, 2008 (LBO) – Sri Lankan shares closed virtually flat Thursday with investors chasing stocks of ceramic tile firms expected to report higher earnings on strong demand from the construction sector, brokers said. The All Share Price Index ended just one and a half points down at 2,505.90 while the more liquid Milanka index […]
Sri Lanka shares end higher on bank, ceramic interest
Feb 13, 2008 (LBO) – Sri Lankan shares ended higher Wednesday on the back of Tuesday’s gains with turnover boosted by large transactions in Lanka Walltile and National Development Bank, brokers said. The All Share Price Index closed at 2,507.42, up 12.58 points or half a percentage point while the more liquid Milanka index rose […]
Sri Lanka shares end higher as funds return
Feb 12, 2008 (LBO) – Sri Lankan shares ended higher Tuesday with brokers saying there was interest across a range of sectors with institutional buying evident.The All Share Price Index went up 0.36 percent or 9.07 points to 2,494.84 while the more liquid Milanka index ended up 0.52 percent or 16.01 points at 3,123.31 with […]
Sri Lanka under pressure to de-politicize price index
Feb 09, 2008 (LBO) – Pressure is mounting to de-politicize Sri Lanka’s new price index, which the authorities are already using as a guide for monetary policy and are pushing trade unions to accept for indexing wages. The new Colombo Consumer Price Index or CCPI (N) has come under fire for excluding alcohol in an […]
Sri Lankan shares end up, more interest in Dockyard
Feb 07, 2008 (LBO) – Sri Lankan stocks edged up on thin trading Thursday with a big parcel of Distilleries propping up turnover but investors remained worried about the profitability of companies given high interest rates and inflation. The All Share Price Index went up 17.44 points to 2,454.89 while the liquid Milanka index closed […]
Sri Lanka stocks close higher on selective foreign buying
Feb 06, 2008 (LBO) – Sri Lanka shares closed marginally higher with turnover being driven to 224 million rupees through transactions on selective stocks picked by investors anticipating higher earnings for December quarter, brokers said. Colombo stock market’s All Share Index closed 3.41 points higher at 2,437.45 and the Milanka index was up 1.56 points […]
Sri Lanka share prices slump as punters turn choosy
Feb 05, 2008 (LBO) – Sri Lankan stocks ended lower Tuesday with investors picking shares of companies expected to report higher profits or known to pay high dividends, brokers said. The All Share Price Index fell 19.52 points to 2,434.04 while the liquid Milanka index closed down1.32 percent or 41.16 points at 3,082.22. Turnover was […]
Sri Lanka inflation to remain high in 2008 first half?
Feb 05, 2008 (LBO) — Sri Lanka’s central bank has warned that inflation may remain high around 16 to 20 percent in the first half of 2008 and blamed “low supply” of domestic foods for the sudden price jump of 3.0 percent in January. Eighty percent of the price increases was due to food, the […]
Sri Lanka says Japan is not about to cut aid
Feb 02, 2008 (LBO) – Sri Lanka’s foreign ministry says it has received assurances from Japan that aid will not be cut, after reports that Japan would review its aid policy to the island. Japan’s special envoy to Sri Lanka’s peace process Yasushi Akashi visited the island just as the government pulled out of a […]
Sri Lanka can stop inflation with currency board: Steve Hanke
Feb 02, 2008 (LBO) – Sri Lanka could end inflation by adopting a working exchange rate system and a credible external anchor in the form of a currency board, a top international monetary economist has said. Related Links Go to article on Cato Institute website Go to Globe Asia column Go to Steve Hanke’s columns […]
Sri Lanka rupee at one year highs, forward premiums narrow
Feb 01, 2008 (LBO) – The Sri Lanka rupee hit 13-month highs of 107.65/70 against the US dollar as foreign bond buying and tighter monetary policy strengthened the rupee, dealers said. On January 01, 2007 the rupee had closed at 107.60/70 against the US dollar and on Jan 02 at 107.67/77, dealer said. The rupee […]