Category: Economy and Markets
‘s tax office back in business
Feb 25, 2009 (LBO) – Sri Lankan tax payers are being asked by the Inland Revenue Department (IRD) to continue to pay their dues, as the island’s tax office is operating as usual after last week’s Tamil Tiger air attack on its headquarters building. A government minister said the IRD’s tax data base had not […]
Sri Lankan stocks tumble
Feb 25, 2009 (LBO) – Sri Lankan shares lost 1.19 percent Wednesday with the indices dragged down by losses in heavyweights like Dialog Telekom after it reported a big loss in the December quarter, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lanka Treasury bill yields flat
Feb 25, 2009 (LBO) – Yields of Treasury bills stayed flat across maturities at an auction Wednesday, the government’s debt office said while bonds spiked amid foreign selling earlier in the day. The government sold 1.8 billion rupees of 3-month bills at a weighted average yield of 15.76 percent, 527 million rupees of 6-month bills […]
Sri Lanka rupee falls to 114.80 in bizarre trade; Bill stock Rs184bn
Feb 25, 2009 (LBO) – The Sri Lanka rupee fell to a new low of 114.80 against the US dollar in value tomorrow trade with buying from a state bank, while spot dollars continued to be offered at 113.85 rupees also by a state bank, dealers said.Since September the Central Bank has lost more than […]
Sri Lanka shares end down
Feb 24, 2009 (LBO) – Sri Lankan shares ended weaker Tuesday on low volumes with tableware exporter Dankotuwa Porcelain falling after news that it had lost a big American export customer, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index eased […]
Sri Lanka cuts reserve ratio again
Feb 24, 2009 (LBO) – Sri Lanka has cut the statutory reserve ratio (SRR) or percentage of deposits commercial banks must keep with the central bank, by 75 basis points to 7.0 percent releasing 9 billion rupees of cash to the system.From September to December, Sri Lanka’s official reserves have halved from 3.4 to 1.7 […]
Sri Lanka, developing countries, face more challenges and poverty from downturn: economists
Feb 20, 2009 (LBO) – While developed countries are facing economic contraction, developing nations are facing increases of absolute poverty, with some countries like Sri Lanka having little fiscal room to maneuver, economists have said. A global economic crunch from a collapsing housing, financial and commodity bubble was slowing ‘economic growth’ worldwide, with world growth […]
Sri Lanka inflation to fall to 8.0-pct by end-Feb: CB Governor
Feb 20, 2009 (LBO) – Falling inflation is giving Sri Lanka more room to loosen monetary policy, Central Bank Governor Nivard Cabraal said Friday, though the island is grappling with a balance of payments problem. Sri Lanka’s 12-month inflation would fall to around 8.0 percent in February from 10.7 percent in January and year-end inflation […]
Sri Lanka stocks enlivened by JKH deals
Feb 20, 2009 (LBO) – Sri Lankan market was boosted Friday with conglomerate John Keells Holdings increasing control of Union Assurance, Ceylon Cold Stores and brokerage John Keells Ltd. by buying stakes held by Carson Cumberbatch, brokers said. A crossing of 4.36 million CCS shares was done at 115 rupees. CCS was up three rupees […]
Sri Lanka official reserves US$1.7 billion in December
Feb 19, 2009 (LBO) – Sri Lanka’s foreign reserves fell to 1,753 million US dollars in December from 2,030 million US dollars in November which was enough to finance 1.5 months of imports, the Central Bank said. Gross official reserves with Asian Clearing Union (ACU) funds was 2,561 million US dollars which was enough to […]
Sri Lankan stocks attract foreign investors
Feb 19, 2009 (LBO) – Sri Lankan shares closed down Thursday but foreign investors have begun taking medium to long-term positions on blue chips like John Keells Holdings (JKH), Hemas Holdings and Dialog Telekom, brokers said. Dialog Telekom lost 10 cents to close at 4.90 rupees, while Sri Lanka Telecom lost 50 cents to close […]
Sri Lanka treasury bill yields flat
Feb 19, 2008 (LBO) – Sri Lanka Treasury bill yields were flat at an auction Wednesday, with the government selling 4.2 billion of the 7.0 billion bills offered for sale.The 12-month yield eased 01 basis points to 17.73 percent, the 6-month also by a basis point to 16.93 percent and the 3-month by 02 basis […]