Category: Economy and Markets
Sri Lanka to extend services of sovereign rating agencies
June 26, 2009 (LBO) – Sri Lanka will extend the contracts of Standard and Poor’s (S&P) and Fitch Rating, the two agencies that are issuing the country’s sovereign rating, the government’s information office has said. The cabinet of ministers had empowered the central bank to sign fresh agreements with the two rating agencies for three […]
Sri Lankan shares down 0.2-pct during week
June 26, 2009 (LBO) – Sri Lankan stocks recovered on Friday, pushed up by retail investors who targeted blue chips and midcap shares, while foreign investors were net sellers during the week, brokers said. The benchmark Colombo All Share Price Index closed up 1.16 percent (28.03 points) to end at 2,447.04 Friday while the Milanka […]
Sri Lanka to resettle war refugees soon: official
NEW DELHI, June 24, 2009 (AFP) – A Sri Lankan official delegation visiting India said on Wednesday Colombo was working to resettle tens of thousands of civilians displaced by fighting on the island.The team said Sri Lanka was also working for the “democratisation” of the country’s north, where fierce fighting earlier this year led to […]
Sri Lankan stocks down on profit taking
June 25, 2009 (LBO) – Sri Lankan shares closed 0.7 percent lower Thursday as investors continued to take profits from last three weeks bull-run, despite retail interest, brokers said. The benchmark Colombo All Share Price Index closed down 0.72 percent (17.57 points) to end at 2,422.37 while the Milanka index of liquid stocks fell 0.73 […]
Sri Lanka Treasuries yields fall across the board
June 25, 2009 (LBO) – Sri Lanka’s Treasuries yields fell across the board at an Auction Wednesday and the government raised 11.6 billion from an original offer to sell only 9.0 billion rupees of bills, the debt office said.The 3-month yield fell 15 basis points to 11.41 percent; the 6-month yield fell 53 basis points […]
Sri Lanka to plans high yield forex securities for expat workers
June 25, 2009 (LBO) – Sri Lanka’s government is planning a new high yield retail foreign exchange denominated security that will pay an attractive premium over London benchmark rates, targeting expatriate workers.“India did a successful issue of that nature some time ago, and we are studying it,” Central Bank governor Nivard Cabraal said. “We want […]
Sri Lanka to buy back debt
June 25, 2009 (LBO) – Sri Lanka’s public debt office has announced a ‘reverse auction’ to retire a part of the bonds maturing in August, which would help reduce bunching up of maturities, dealers said. The banking system is also flushed with liquidly from central bank dollar purchases.The government is offering to buy back 7.6 […]
Sri Lanka refugees get more EU aid
June 24, 2009 (LBO) – The European Commission is giving 5 million Euros to help mainly ethnic Tamil refugees held in camps in northern Sri Lanka, on top of 37 million euros of humanitarian aid to the island since 2007.The latest tranche will be given for relief organizations and UN agencies to help 280,000 refugees […]
Sri Lanka still negotiating IMF deal: minister
June 24, 2009 (LBO) – Sri Lanka is still negotiating with the International Monetary Fund for a bailout package, and the first tranche may come in two months, a senior minister said, indicating that an unfinished economic agenda remained to be resolved.“We are still working things out; the doors are not shut yet,” Amunugama told […]
Sri Lankan stocks close flat
June 24, 2009 (LBO) – Sri Lankan shares closed flat Wednesday despite bank stocks losing ground on profit taking, brokers said. The benchmark Colombo All Share Price Index closed up 0.01 percent (0.23 points) to end at 2,439.94 while the Milanka index of liquid stocks fell 0.64 percent (17.39 points) to close at 2,716.29, according […]
US to “carefully assess” Sri Lanka IMF loan: official
June 24, 2009 (LBO) – The United States is not blocking an International Monetary Fund (IMF) loan to Sri Lanka but the US Treasury and State Department “will carefully assess” the program, an official has said. “We are not threatening to block the loan and we will carefully assess any program in light of the […]
Sri Lanka stocks close lower on profit taking
June 23, 2009 (LBO) – Sri Lankan shares extended losses Tuesday closing down 0.4 percent as retail investors took profits on blue chip banks and diversified groups, brokers said, The benchmark Colombo All Share Price Index closed down 0.44 percent (10.84 points) to end at 2,436.36 while the Milanka index of liquid stocks fell 1.02 […]