Category: Economy and Markets
Sri Lanka capital projects may be delayed but disinflation faster amid global turmoil: interview
Nov 20, 2008 (LBO) – Sri Lanka has plans to borrow abroad next year at commercial rates to repay maturing loans and keep its infrastructure projects on track. While raising new money is difficult, ongoing global turmoil is tempering commodity prices, helping price stability. ETV’s Lanka Business Report programme discussed the challenges facing Sri Lanka […]
US consumer prices plunge record 1.0 pct in October
WASHINGTON, November 19, 2008 (AFP) – US consumer prices plunged a record 1.0 percent in October amid an accelerating global financial crisis, government data showed Wednesday. The one-month decline in the Labor Department’s consumer price index (CPI) was the steepest since the department began publishing seasonally adjusted changes in February 1947 and exceeded analysts’ consensus […]
Sri Lankan stocks close 2.0-pct lower
Nov 19, 2008 (LBO) – Sri Lankan stocks closed 2.0 percent lower Wednesday with a poor earnings outlook and high interest rates keeping buyers at bay, and the effects of a global downturn biting harder, dealers said. The Colombo All Share Price Index fell 36.41 points to end at 1,717.52 while the Milanka index of […]
Sri Lanka treasuries yields flat
Nov 19, 2008 (LBO) – Sri Lanka treasuries yields were flat with only 1.7 billion rupees of bills out of a maturing tranche of 5.0 billion rupees being sold, the government’s debt office said.Meanwhile, dealers said 2-year bonds were being offered at 21.0 percent. The 3-month yield was 17.20 percent, the 6-month yield 18.28 percent […]
” under current conditions: official
Nov 18, 2008 (LBO) – Sri Lanka’s infrastructure projects could face delays if the island is unable to raise over half a billion dollars though commercial loans amid tough conditions in global financial markets, a top official said. “The government needs external financing of around 500 million dollars in commercial money for financing counterparty funds […]
Sri Lanka shares head down
Nov 18, 2008 (LBO) – Sri Lankan stocks resumed their downward march Tuesday after a brief halt the day before but with trading volumes drying up and the bearish trend likely to continue, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
Sri Lanka blue chip gains nudge indices up
Nov 17, 2008 (LBO) – Sri Lankan shares ended barely changed Monday with gains in blue chips lifting the indices and transactions in John Keells Holdings (JKH), whose buy-back offer ends tomorrow, boosting turnover, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lanka stocks open higher; rupee flat amid intervention
Nov 17, 2008 (LBO) – Sri Lanka stocks opened up 0.89 percent amid thin turnover following a slew of poor earnings over the past week, and the rupee was flat against the greenback at 110.0 amid intervention, dealers said. The Colombo All Share Index was up 16.0 points and the Milanka index of liquid stocks […]
Sri Lanka should tap IMF, get economic antibiotics: economists
Nov 17, 2008 (LBO) – Sri Lanka should tap the International Monetary Fund for a stabilization package early as the country is heading for balance of payments trouble and unsustainable budget deficits, a top economist has said. IMF conditions bring fiscal prudence, and tight monetary policy, making it difficult for politicians to coddle loss making […]
Sri Lanka cuts money target for third quarter, amid currency trouble
Nov 14, 2008 (LBO) – Sri Lanka’s central bank has cut the reserve money target for the fourth quarter of 2008, amid warnings that its monetary program has been severely de-stabilized by currency intervention and liquidity injections. The Central Bank said the fourth quarter reserve money target has been cut to 285 billion rupees, from […]
Sri Lanka shares weaken, DFCC trade pumps up volume
Nov 14, 2008 (LBO) – Sri Lankan shares continued to slide Friday with trading volumes increased by a large transaction in DFCC and a net inflow of foreign funds, although brokers said they expect the market to remain bearish.Foreign buying was 372 million rupees and sales 108 million rupees with a net inflow of foreign […]
Sri Lanka to issue coins commemorating pension fund
Nov 13, 2008 (LBO) – Sri Lanka’s central bank is issuing two coins to commemorate the 50 year anniversary of a state managed pension fund of private sector workers, the monetary authority said. The reverse has the value of the coin 1000 in large numerals while the word “RUPEES “in Sinhala, Tamil and English appear […]