Category: Money

Oct 16, 2007 (LBO) – Sri Lanka’s financial sector has been advised to exercise caution in launching derivatives which are yet new instruments in the island.Derivatives are useful financial instruments that help manage risks and give depth to financial markets, Indian experts said. But designing and launching derivatives instruments can be tricky and two-thirds of […]

Oct 08, 2007 (LBO) – Fitch Ratings has given a speculative BB- rating for Sri Lanka’s upcoming sovereign bond but warned that a worsening conflict could cause a credit downgrade and called for lower inflation and better budgets. “Steering inflation back down to single digits will be essential for sustaining strong economic growth and containing […]

Sept 28, 2007 (LBO) – Sri Lankan stocks tumbled soon after opening with brokers saying investors were largely inactive, as markets awaited a money policy announcement later in the day.There was only 43 million rupees turnover on the Colombo bourse around mid-morning with the All Share Price Index down 4.91 points or 0.19 percent and […]

Sept 27, 2007 (LBO) – Sri Lanka’s government has announced the resumption of a loan program that was previously scrapped as the country developed its debt markets and tried to limit abuse of a non-state workers’ pension fund. The government’s debt office said it was issuing six billion rupees of rupee loans ranging in 4 […]

Sept 19, 2007 (LBO) – Sri Lanka’s central bank says a recent fall of the rupee is not in line with a narrowing of the trade gap, as the rupee dipped to a new low Wednesday but closed firmer. The bank said exports have grown 15.8 percent and the trade gap had narrowed to 1,806 […]

Sept 18, 2007 (LBO) – Strong buying interest from a state name that usually represent government accounts pushed the rupee lower in late afternoon trading with deals done at 113.60 against the greenback, dealers said. Sri Lanka’s cash markets have been tight with some market participants were seen generating rupees through dollar swaps. The rupee […]

Sept 10, 2007 (LBO) – The Sri Lanka rupee was quoted at 113.25/28 flat against the spot dollar Monday with overnight call money peaking at 16.00 before easing to 14.00 percent in liquid conditions, dealers said. The six month forward dollar fell slightly to 120.95 levels from an earlier level of 121.11. Dealers were closely […]

SYDNEY, Sept 9, 2007 (AFP) – Key world leaders called Sunday for “urgent” efforts to salvage global talks on trade as they wrapped up a summit marked by unprecedented security and wrangling over a plan to tackle climate change. Representing 21 economies that account for nearly half the world’s trade, Asia Pacific leaders said it […]

Sept 07, 2007 (LBO) – The Sri Lanka rupee closed firmer at 113.25/28 against the greenback Friday, up from yesterday’s close of 113.27/32, dealers said. There were some swap deals in the market. A state name was also seen buying dollars, in what was a fairly dull Friday, dealers said. However there was liquidity in […]

Sept 07, 2007 (LBO) – The Sri Lanka rupee traded at a new low of 113.36 against the greenback as a foreign name sold rupee bonds Thursday, but closed at 113.27/32, dealers said. On Wednesday the rupee closed at 113.10/20 against the spot dollar. A state name intervened at 113.36 in intra day trading driving […]