Category: Economy and Markets
Sri Lanka stocks plunge, foreign selling weakens sentiment
Oct 23, 2008 (LBO) – The slide in Sri Lankan shares deepened Thursday with the indices dragged down by sharp falls in blue chips as brokers said foreign selling in recent days had confirmed fears of a sell-off and weakened sentiment. Sri Lanka Telecom fell 5.26 percent (two rupees) to 36 rupees with 100,700 shares […]
Mexico peso sinks to new low against dollar
MEXICO CITY, October 22, 2008 (AFP) – Mexico’s peso changed hands at 13.74 to the dollar at the end of trading Wednesday, a new record low, despite billions of dollars injected onto the market by the central bank in recent weeks. The peso closed Tuesday at 13.13 to the dollar. Mexico’s central bank began selling […]
Sri Lanka stocks extend losses; Pramuka sells LB Finance stake
Oct 22, 2008 (LBO) – Sri Lanka stocks closed 1.2 percent lower with index heavy stocks sliding , Wednesday on the back of a 2.2 percent fall a day earlier, while the sale of a strategic stake in a finance company went at a premium to market, dealers said. To recieve instant alerts from LBO […]
Sri Lanka bonds spike, bills rejected amid heavy forex interventions
Oct 22, 2008 (LBO) – Sri Lanka rejected an entire Treasury bill auction Wednesday while the yield of a bond popular among foreign investors spiked and heavy central bank intervention in currency markets continued, dealers said. The government’s debt office said all bids at the auction were rejected. Last week 3-month bills were auctioned at […]
Fed chief backs US spending plan as markets clutch at latest straw
WASHINGTON, October 21, 2008 (AFP) – The head of the US Federal Reserve backed a stimulus plan for the flagging American economy, buoying stock markets despite gloomy unemployment figures and fears the rebound could be limited. Asian markets tracked gains on Wall Street, where stocks soared after Fed chief Ben Bernanke said US lawmakers should […]
Sri Lanka stocks slide gathers momentum
Oct 21, 2008 (LBO) – The slide in Sri Lankan shares deepened Tuesday with sharp falls in blue chips and trading volumes increasing, brokers said.Dialog Telekom closed flat at eight rupees Bartleet Mallory Stockbrokers said price losers significantly outdid price gainers by 118 to 11 in Tuesday’s trading. They said in their market report that […]
Sri Lanka central bank says inflation will fall till November
Oct 20, 2008 (LBO) – Sri Lanka’s central bank says consumer inflation, which fell to 24.3 percent in September, will continue to fall till November in the light of tight policy in 2008 and falling global commodity prices. Central Bank governor Nivard Cabraal told LBO earlier this month that he expected inflation to be slightly […]
Sri Lanka stocks tumble, Dialog block changes hands
Oct 20, 2008 (LBO) – Sri Lankan shares fell over 1.5 percent Monday with large trades in blue chips as fears remained that foreign investors might sell and put their money in other markets that have fallen steeply, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Forum set up to promote security of US ventures in Asia
WASHINGTON, October 19, 2008 (AFP) – The United States is to launch a forum to promote security of largely American businesses in Asia amid concerns on issues ranging from copyright piracy to terrorism threats, officials said.The forum, pushed for by US companies in the region, will be inaugurated this week under the Overseas Security Advisory […]
Sri Lanka central bank reserve outflow continues; bill stock spikes to Rs40bn
Oct 19, 2008 (LBO) – The treasury bills portfolio of Sri Lanka’s central bank topped 40 billion rupees (370 million US dollars) by mid-October, according to the latest official data, indicating a continuing drain of foreign reserves. The central bank has been defending a US dollar peg at 108 rupees and injecting money into the […]
Recession fears haunt commodity markets
LONDON, October 17, 2008 (AFP) – World commodity prices tumbled this week, with oil striking a 17-month low point under 66 dollars a barrel in London, as fears of a global recession weighed on demand for raw materials. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to […]
Asia should consider bank guarantees in current turmoil: IMF
WASHINGTON, October 17, 2008 (AFP) – Asian economies may have to consider guaranteeing bank deposits as a defensive option against global market turmoil although the region’s financial system remains sound, the IMF’s Asia chief believes. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 European nations […]