Category: Economy and Markets
Sri Lankan stocks close 0.15-pct down
May 25, 2010 (LBO) – Sri Lankan stocks closed down Tuesday as investors continued to take profits from an overheating market, while large privately negotiated deals on hotels and financial services shares boosted turnover, brokers said. The All Share Price Index closed at 4,226.49, down 6.43 points, while the Milanka index of more liquid stocks […]
Sri Lankan stocks becalmed, retailers take profits
May 24, 2010 (LBO) – Sri Lankan stocks closed almost flat Monday as retail investors took profit while gains on selected high value shares prevented a deeper slide in the indices, brokers said. The All Share Price Index closed at 4,232. 92, down 2.77 points, while the Milanka index of more liquid stocks fell 0. […]
Sri Lanka 03 months yields fall, 06 and 12 month yields climb
May 24, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yields dipped 03 basis points to 8. 10 percent at Monday’s auction, the government’s debt office said. The central bank routinely prints money to bridge government recurrent expenditures, driving up inflation. The 6-month yield rose 03 basis points to 8.91 percent while the 12-month yield […]
Sri Lanka EPF contributors fall 300,000 in 2010
May 22, 2010 (LBO) – Active contributors to Sri Lanka’s Employees’ Provident Fund (EPF) of private sector workers dropped by 300,000 in 2009, a year in which the country went through an economic downturn, official data showed. EPF’s active accounts dropped 12 percent to 2.0 million from 2.3 million a year earlier. Contributing companies and […]
Sri Lanka IMF program back on track
May 22, 2010 (LBO) – Sri Lanka’s deal with the International Monetary Fund was back on track with a review mission being ready to hammer out a new deal with fresh targets to rein in its runaway fiscal deficit on the basis of a budget due in June. In 2009 Sri Lanka’s rulers busted a […]
Fiscal discipline urged to cure market ills
BERLIN, May 22, 2010 (AFP) – The head of Europe’s central bank and Pope Benedict XVI Saturday laid into governments for a lack of financial rigour, after investors battered the euro over fears of unsustainable debts. With the euro having plunged to a four-year low against the dollar in the past week, ECB chief Jean-Claude […]
Sri Lanka may get IMF funds in 4-6 weeks: official
May 21, 2010 (LBO) – The International Monetary Fund (IMF) is likely to release the next tranche of its program loan to Sri Lanka in 4-6 weeks if its management and board are satisfied with the island’s budget deficit for 2010, an official said. Policy talks were encouraging, visiting IMF mission chief Brian Aitken told […]
Sri Lanka stocks close down 0.30-pct on profit taking
May 21, 2010 (LBO) – Sri Lankan stocks closed down Friday as retail investors took profits ahead of a possible technical correction in future, while heavy interest on John Keells Holdings (JKH) and Hayleys boosted turnover, brokers said. The All Share Price Index closed at 4,235. 69, down 12.68 points, while the Milanka index of […]
Sri Lanka holds policy rate steady
May 20, 2010 (LBO) – Sri Lanka’s central bank said it was holding policy rates steady at 9.75 percent amid a pick up in bank credit to private businesses and a dip in annual inflation in April 2010. “Developments in the monetary sector have been encouraging,” the Central Bank said. “Credit obtained by the private […]
Sri Lankan stocks close 0.11-pct up
May 20, 2010 (LBO) – Sri Lankan stocks closed up Thursday despite investors taking profits on selected shares, while considerable interest in banking stocks boosted turnover, brokers said. The All Share Price Index closed at 4,248.37, up 4.83 points, while the more liquid Milanka index fell 0.09 percent (4.13 points) to close at 4,788.58. Turnover […]
Sri Lanka shares end 0.33-pct down
May 19, 2010 (LBO) – Sri Lankan stocks closed lower Wednesday with investors seen losing interest in shares whose prices had risen sharply as the market reached record highs in recent weeks, brokers said. The All Share Price Index closed at 4,243.54, down 0.33 percent (14.13 points) while the more liquid Milanka index fell 0. […]
Sri Lanka Treasuries yields steady
May 19, 2010 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction though the 3-month yield fell 05 basis points to 8. 13 percent, the government’s debt office said. The 6-month yield was flat at 8. 88 percent and the 12-month yield was also flat at 9.23 percent, the debt office which is […]