Category: Economy and Markets
Sri Lankan shares becalmed, retailers take profits
Oct 14, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as retail investors took profits from an overheating market, while banking stocks made further gains, brokers said. “With the activity improving the market depth has improved giving rise to higher liquidity levels which is an additional catalyst to foreign investors,” Samarasinghe said. Touchwood Investments […]
” by Fitch
Oct 14, 2009 (LBO) – An upcoming US dollar denominated sovereign bond issue by Sri Lanka which is due to mature in 2015 has been rated ‘B+’, in line with the country’s long term foreign currency rating, Fitch Ratings said. “A more robust revenue performance would provide greater fiscal flexibility in addressing post-war spending needs, […]
” by S&P
Oct 14, 2009 (LBO) – Standard and Poor’s has give a ‘B’ rating to an upcoming 500 million US dollar sovereign bond by Sri Lanka maturing in 2015, with a ‘stable’ outlook citing a deal with the International Monetary Fund that has improved foreign reserves. “The sovereign credit ratings on Sri Lanka take into account […]
Sri Lanka 6-month Treasuries fall to single digits
Oct 14, 2009 (LBO) – Sri Lanka’s 6-month Treasury bill yield moved to single digits falling 29 basis points to 9.81 percent at Wednesday’s auction, and the 3-month yield fell 11 basis points to 9.15 percent, the government’s debt office said. Sri Lanka’s longer term bill yields have also been falling steadily.The central bank has […]
Sri Lanka asks expats help rebuild war-hit regions
October 12, 2009 (AFP) – Sri Lanka on Monday announced plans to tap its expatriate community to help rebuild the island’s war-ravaged areas and encourage much-needed foreign investments.President Mahinda Rajapakse has invited leading Sri Lankans abroad for a meeting to discuss investment opportunities following the crushing of Tamil separatists in May after nearly four-decades of […]
Sri Lanka central bank holds rates amid low inflation
Oct 13, 2009 (LBO) – Sri Lanka’s Central Bank is holding its main policy rate steady at 10.50 percent amid low inflation, expecting the effect of previous cuts to spread wider into the banking system. Weak Credit In the year to August private sector credit was down 4.6 percent according to Central Bank data, while […]
Sri Lanka post-war prospects scouted by US firms
Oct 13, 2009 (LBO) – American firms are scouting for business opportunities in post-war Sri Lanka in anticipation of accelerated economic growth, officials said.Senior executives, mainly from top US companies in India, are in Colombo for talks with Sri Lankan firms and government agencies. US investments could help rebuild the war-ravaged economy and contribute to […]
Sri Lanka stock close up 0.2 percent
Oct 13, 2009 (LBO) – Sri Lankan shares closed up 0.2 percent Tuesday, supported by banks extending gains, while NAMAL Acuity Venture Fund, a mutual fund, ended lower after yesterday’s debut, brokers said.Touchwood Investments closed at 92.75 rupees, up 75 cents, and Lanka Cement closed at 32.25 rupees, down 25 cents. Dialog Telekom, a unit […]
Sri Lankan shares close 0.5-pct up
Oct 12, 2009 (LBO) – Sri Lankan shares closed up Monday due to heavy price gains on index heavy counters Distilleries Company and Commercial Bank pushed market up, while first ever close-ended fund makes positive debut, brokers said. The All Share Price Index closed up 0.5 percent (15.95 points) to end at 3,131.29, while the […]
Investors reap peace dividend in Sri Lanka
October 11, 2009 (AFP) – Sri Lanka’s small stock exchange has become one of the world’s top performing bourses as investors reap the peace dividend from the end to the island’s bloody ethnic conflict.Investors are banking on renewed economic strength and profits in the country that emerged in May from a bloody and protracted civil […]
Indonesia detains 260 Sri Lankan migrants: police
BANTEN, October 11, 2009 (AFP) – Indonesia detained about 260 Sri Lankan migrants in the Sunda Strait between Java and Sumatra while attempting to make their way by wooden boat to Australia, police said Sunday.Indonesia is a key staging point for people smugglers bringing Afghans and other nationals for a perilous onward sea journey to […]
” IMF faces rough road toward bigger role
ISTANBUL, October 7, 2009 (AFP) – The IMF gained new stature as global lender at annual meetings with the World Bank in Istanbul that ended Wednesday, but is on a rough road between a fragile economic recovery and dissension among members.The finance chiefs from the 186 member nations of the institutions agreed after two days […]