Category: Economy and Markets
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 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 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 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 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 […]
Lanka Ratings re-branded as RAM Ratings Lanka
Feb 25, 2008 (LBO) – Credit rating agency Lanka Ratings was re-branded as RAM Ratings (Lanka) Limited following a reorganization of its Malaysian parent company RAM Holdings Berhad, Monday. RAM Holdings, an affiliate of the world’s largest ratings agency Standard and Poor’s (S&P), plans to expand regionally following the re-branding process. Suresh Menon, executive director […]
Sri Lanka investors chase plantations stocks
Feb 25, 2008 (LBO) – Sri Lankan stocks closed slightly higher Monday with trading dominated by shares of plantations companies which are enjoying higher earnings owing to the boom in commodities, brokers said. The All Share Price Index gained 10.19 points or 0.41 percent to close at 2,520.98 while the more liquid Milanka index went […]
Sri Lanka state workers demand trebling of festival allowance
Feb 25, 2008 (LBO) – Sri Lanka’s powerful state worker unions have demanded a trebling of festival allowances as inflation tipped over 20 percent following loose monetary and fiscal policies in the past year. The latest in such moves is a new increase in car taxes after state workers were given thousands of tax-slashed cars. […]
Sri Lanka central bank asks for currency note designs
Feb 25, 2008 (LBO) – Sri Lanka’s central bank has called for public ideas to produce a new series of notes offering cash prizes for winning designs. The monetary authority has so far produced notes under 10 different themes from the time it was created soon after Sri Lanka gained independence from Britain. The first […]
Sri Lankan retail investors play on mid-sized stocks
Feb 22, 2008 (LBO) – Sri Lankan stocks closed lower amid profit taking but retailers were selectively betting on mid sized stocks, brokers said. The All Share Price Index lost 6.18 points or 0.25 percent to end at 2,510.79 while the more liquid Milanka index was hardly changed at 3,163.75 with turnover being 270 million […]