Category: Economy and Markets
Gold higher, the best bet in uncertain times
PARIS, September 9, 2009 (AFP) – Gold is back in favour, hitting 18-month highs above 1,000 dollars as investors hedge their bets on the dollar in a global economy struggling out of its worst slump in decades, analysts said. Gold is the ultimate store of value when all else fails and in uncertain times like […]
Sri Lankan shares hit new 28 month high, up 84.9% in 2009
Sept 09, 2009 (LBO) – Sri Lankan shares closed up 2.3 percent Wednesday hitting a new 28-month high as retail investors pushed up the market, though expectations of profit-taking are emerging, brokers said. The benchmark had gained 84.9 percent from the beginning of the year while the Milanka was up 91.7 percent, the Colombo Stock […]
Sri Lanka Treasuries yields flat
Sept 09, 2009 (LBO) – Yields of Sri Lanka government bonds remained flat at Wednesday’s auction with only 8.8 billion rupees out of 12.0 billion rupees of maturing bills being sold to the market, the government’s debt office said.The 3-month average yield was down 01 basis point to 10.54 percent, the 6-month yield was down […]
Bursting economic bubble may have averted greater disaster ahead: Sri Lanka CB chief
Sept 08, 2009 (LBO) – The bursting of a global economic bubble in 2007-2008 may have averted greater disaster ahead, but the global financial community must implement a new framework to prevent recurrences, Sri Lanka’s central bank chief has said. Cabraal said complex financial instruments, especially derivatves, should be subjected to tighter rules and like […]
Sri Lanka heads for record deficit despite better revenues in June
Sept 07, 2009 (LBO) – Sri Lanka’s state revenues fell 6.15 percent in June from a year earlier, implying an annualized deficit of 10.8 percent of gross domestic product for 2009, but the gap has narrowed from previous months, the latest official data show. In the 6-months to June the state took away 289.7 billion […]
Sri Lankan shares close 1.66-pct up
Sep 07, 2009 (LBO) – Sri Lankan shares closed up almost across the board Monday as retail investors bet heavily on hotel stocks, while strategic investors bought into high value counters such as Commercial Bank, brokers said. The benchmark Colombo All Share Price Index (ASPI) was up 1.66 percent (43.78 points) to close at 2,674.55 […]
Sri Lanka roads closed to keep economy stable
Sep 06, 2009 (LBO) – Some of Sri Lanka’s roads will remain closed despite the end of a 30-year civil war to prevent a post-Soviet style collapse of the economy, the island’s prime minister told Thai investors. “It is true the ongoing battle is over but we are still unearthing and finding various things that […]
Sri Lanka sovereign bond gets seven bids for lead manager slot
Sept 04, 2009 (LBO) – Seven investment banks have submitted proposals to sell a 500 million US dollar sovereign bond for Sri Lanka in October, the government’s debt office said.The debt office which is a unit of the Central Bank said a committee made up of finance ministry and central; bank officials was now evaluating […]
Sri Lanka non-state sector to bear adjustment burden under IMF deal
Sept 03, 2009 (LBO) – Workers in Sri Lanka’s private sector and their workplaces will bear the brunt of an adjustment to stabilize the economy under an International Monetary Fund backed program, economists have said.Under an IMF stand-by loan, Sri Lanka is planning a 7.0 budget deficit and 5.0 percent deficit over two years.Officials are […]
Sri Lankan stocks close flat
Sep 03, 2009 (LBO) – Sri Lanka shares closed flat Thursday, as retail investors took profits and bet heavily on Seylan Bank and Blue Diamonds Jewelry Worldwide non-voting shares, which are part of troubled Ceylinco Group, brokers said. The benchmark Colombo All Share Price Index (ASPI) was down 0.06 percent (1.55 points) to close at […]
Sri Lanka bond yields fall
Sept 03, 2009 (LBO) – Sri Lanka bond yield have fallen around 30 t0 40 basis points over the past week with high trading volumes and expectations of purchases by foreign buyers, dealers said.A 6-year bond maturing on 15.03.2015 which was quoted around 12.55/57 percent Tuesday from around 12.83/85 a week earlier. A 4-yar bond […]
Sri Lankan shares close up 0.91-pct
Sep 02, 2009 (LBO) – Sri Lankan shares closed up on Wednesday as retail investors chased after small and medium sized stocks on a highly speculative market, brokers said. Ceylinco Insurance non-voting shares closed at 135.25 rupees, up 10.25, while Ceylon Grain Elevators closed at 14.25 rupees, up 2.00. Warrats Environmental Resources Investments formerly Walker […]