Category: Economy and Markets
Sri Lanka shares close flat
Mar 09, 2009 (LBO) – Sri Lankan stocks closed flat on Monday on thin volumes, with some Ceylinco group companies which are slated for management changes or take-over moving up, brokers said. The Colombo All Share Price Index edged up 0.18 percent (3.0 points) to end at 1,630.70 while the Milanka index of liquid stocks […]
Sri Lanka rupee unchanged after IMF bailout announcement
Mar 06, 2009 (LBO) – The Sri Lanka rupee traded at 114.20/25 against the US dollar in the spot market after the central bank said it had gone for an International Monetary Fund bailout. Dealers say exporters are hoping for a devaluation of about 5 percent at least, though it is uncertain whether the currency […]
Sri Lanka stock trading buoyed by Carson deal
March 06, 2009 (LBO) – Sri Lankan shares ended firmer Friday with trading volumes boosted by large transfers of shares within the Carson Cymberbatch conglomerate, brokers said.Seylan Merchant Leasing rose 16 percent or 1.25 to end at 9.25 rupees while Seylan Merchant Bank rose eight percent or 20 cents to end at 2.70. Seylan Merchant […]
Sri Lanka says foreign investment US889mn in 2008
Mar 05, 2009 (LBO) – Sri Lanka had received 889,9 million US dollars of foreign direct investments in 2008 which includes a 136.72 million US dollar loan, the island’s investment promotion agency said. The Board of investment said the investments in ventures approved by it were up 21 percent from the US dollars 734 million […]
Sri Lankan stocks end weaker
March 05, 2009 (LBO) – Sri Lankan shares ended weaker Friday Thursday as more firms reported losses or sharply lower profits with trading volumes thin as investors stayed away from the market, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Sri Lanka treasuries yields flat
Mar 04, 2009 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction, the government’s debt office said, though the 3-month yield was lower by 03 basis points at 15.73 percent. The government offered 7,000 million rupees worth bills to the market but accepted bids for only 2,747 million rupees to keep rates […]
Sri Lanka to give one month money to banking system
Mar 05, 2009 (LBO) – Sri Lanka’s central bank said it will extend the term of its liquidity facilities, which are now limited to only overnight money, to one month for commercial banks and primary dealers who have persistent liquidity shortfalls. In the United States Federal Reserves system, excess reserves, which were around 2.0 billion […]
Sri Lanka Overseas Realty apartment sales slow
March 05, 2009 (LBO) – Overseas Realty (Ceylon) Ltd. (ORCL) said it is finding it difficult to sell apartments in a new high-rise condominium complex being built in the Sri Lankan capital Colombo due to the economic crisis. But ORCL chairman S P Tao, head of Singapore’s Shing Kwan group, said he is confident of […]
Sri Lankan shares close down
Mar 04, 2009 (LBO) – Sri Lankan blue chips once again took a beating on Wednesday as investors continued to stay away from the market owing to jitters over poor company earnings and liquidity shortages, broker said. The All Share Price Index lost 0.10 percent (1.62 points) to end at 1,637.85 while the more liquid […]
Sri Lankan beer company profits down
Mar 04, 2009 (LBO) – Sri Lanka’s Lion Breweries December quarter profits have taken a hit from increased finance costs on loans taken to raise fresh capital and secure their 22.5 percent stake in Indian brewer, South Asian Breweries (SAB), analysts said. However, when a preference dividend of 32.8 million rupees is deducted, Lion Breweries […]
Sri Lanka is at medium risk from global fall out: IMF
Mar 04, 2009 (LBO) – Sri Lanka is among low income countries (LICs) at “medium” risk from global economic turmoil, and some nations were at “high” risk needing foreign aid as commercial markets dry up, the International Monetary Fund (IMF) has said. Direct financial transmission of the crisis was spreading to countries like Ghana and […]
Sri Lanka negotiating US$1900mn facility from IMF: Central Bank
March 04, 2009 (LBO) – Sri Lanka has asked for a 1,900 million US dollar balance of payments support facility from the International Monetary Fund (IMF), and the first tranche was expected later this month, the central bank said. Sri Lanka also got support from the IMF after the Indian Ocean tsunami hit the country […]