Category: Economy and Markets
Sri Lanka John Keells in share buyback
Sept 25, 2008 (LBO) –Sri Lanka’s John Keells Holdings (JKH) said it would give back 2.2 billion rupees to shareholders through a buy back of one share for every 25 held at 90 rupees. The shares are being bought back above the market price. JKH closed at 86.25 rupees on Wednesday. The firm sold rights […]
Sri Lanka NSB to raise US$100mn loan
Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is raising a 100 million US dollar one-year loan with Citibank Sri Lanka with the deal to be wrapped up by mid-October, an official said. To recieve instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The NSB […]
Sri Lanka shares weaken further
Sept 25, 2008 (LBO) – Sri Lankan shares weakened further Thursday, dragged down by falls in blue chips as small investors stayed away, unable to make gains in a stagnant market, brokers said.It fell 25 cents to end at nine rupees with 619,700 shares traded. LIOC was the second most actively traded stock.It fell 75 […]
Sri Lanka T-bill rates spike
Sept 25, 2008 (LBO) – Sri Lanka’s Treasury bill yields spiked at Wednesday’s auction while the government resumed sales of 3-month bills, the government’s debt office said.The 12-month bill yield also spiked 72 basis points 19.06 percent. The government raised 525 million rupees selling 3-month bills at 17.22 percent after an absence of several weeks. […]
Sri Lanka shares becalmed, Chevron unit draws interest
Sept 24, 2008 (LBO) – Sri Lankan shares ended barely changed Wednesday with turnover slumping to very low levels as investors stayed away owing to uncertainty about future company earnings and the economy, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
France calls for punishment as 2008 paper money debacle unfolds
Sept 23, 2008 (LBO) – French president Nicolas Sarkozy called for those responsible for a global financial crisis to be punished as the biggest debacle so far in a modern re-incarnation of fiat paper money unfolded on its 35th anniversary. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Sri Lanka shares weaken, investors wary of earnings outlook
Sept 23, 2008 (LBO) – Sri Lankan shares weakened further Tuesday on small volumes with brokers saying investors remained concerned about the earnings outlook of listed firms. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index fell 0.37 percent (8.23 points) to 2,230.95 […]
Sri Lanka central bank is like a currency board: official
Sept 22, 2008 (LBO) – Sri Lanka’s monetary authority is now operating almost like a currency board and its currency issue is fully backed by reserves, a senior central banker has said. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 Sri Lanka abandoned a currency […]
Sri Lanka spreads some prices over two months in inflation reports
Sept 22, 2008 (LBO) – Sri Lanka is calculating point-to-point inflation by spreading some price increases across two months, an official said, adding to a series of recent actions that is casting a shadow over the integrity of the country’s economic statistics. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Sri Lanka shares weaken, trading dries up
Sept 22, 2008 (LBO) – Sri Lankan shares ended slightly weaker Monday with trading virtually drying up and small investors hunting for bargains in a becalmed market, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index was down 0.50 percent (11.14 […]
Sri Lanka needs low inflation, good institutions and governance to grow: economists
Sept 20, 2008 (LBO) – Sri Lanka needs good institutions, governance and economic tranquility that come with low inflation to grow, senior economists said, at a time when the island is suffering from the highest inflation in its history. The head of the Sri Lanka Economic Association (SLEA) A D V de S Indraratna said […]
Sri Lanka Tokyo Cement goes green to revive profitability
Sept 19, 2008 (LBO) – Sri Lanka’s Tokyo Cement group, whose profits dipped last year owing to higher raw material, energy and transport costs, says new eco-friendly manufacturing processes and products should help it revive profitability. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Chairman Edgar Gunatunga […]