Category: Economy and Markets
Sri Lanka T-bill yeilds edge down
Aug 27, 2008 (LBO) – Sri Lanka’s Treasury bills yields fell at Wednesday’s auction with 6-month bills falling 29 basis points to 18.01 percent and one year yields falling 5 basis points to 18.60 percent. The central bank said it had accepted only 6.4 billion rupees of bids from the market for 7.5 billion rupees […]
Sri Lanka stocks close lower, AMW deals dominate trade
Aug 26, 2008 (LBO) – Sri Lanka stocks closed marginally lower while turnover reached half a billion rupees following deals in Associated Motorways (AMW) Tuesday, stockbrokers said. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The All Share Price Index fell 0.23 percent (5.63 points) […]
Sri Lank foreign direct investments dominated by telecoms
Aug 26, 2008 (LBO) – Sri Lanka’s foreign direct investment (FDI) flows in the first six months of the year reached 425 million US dollars with telecoms bringing in most of the money, the investment promotion office said.Sri Lanka’s telecom firms have been pouring billions into network expansion in the last few years, but the […]
Sri Lanka taxable workers to shrink, creating multiple crises
Aug 25, 2008 (LBO) – Sri Lanka’s government will run out of working people to tax in the future, as retirees increase and the workforce shrinks, creating a crisis that will leave a rapidly ageing population unprotected, a top financial analyst has warned.To recieve instant alerts from LBO on your Dialog mobile type ‘act (space) […]
Sri Lanka stocks edge lower; investors hope for oil tonic
Aug 25, 2008 (LBO) – Sri Lankan stocks weakened further Monday with brokers saying the only hope for an immediate recovery being a cut in fuel prices now that global crude oil prices were on the decline. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Sri Lanka gets ADB help to curb fiscal profligacy
Aug 24, 2008 (LBO) – Sri Lanka is getting help from Japan and the Asian Development Bank (ADB) to improve government finances, the regional lender said, four years after the island returned to excessive government spending, money printing and high inflation. The Japan Special Fund is giving a 300,000 US dollar grant to help Sri […]
Sri Lanka to host South Asia economic summit on Aug 28
Aug 22, 2008 (LBO) – Sri Lanka will host a South Asian Economic Summit (SAEA) from August 28, where civil society, academics, private sector and state representatives can debate economic issues, a Colombo-based think thank said. Former Nepalese finance and foreign minister Bekh Thapa, former Bangladeshi foreign minister Kamal Hossain, former SAARC secretary generals Ibrahim […]
Sri Lanka stocks weaken, Distilleries in focus ahead of court verdict
Aug 22, 2008 (LBO) – Sri Lankan stocks weakened further Friday with anticipation mounting over a court verdict on the privatization of Sri Lanka Insurance Corporation (SLIC), part of the Distilleries group. The All Share Price Index fell 0.43 percent (10.34 points) to 2,414.37 while the Milanka dropped 0.59 percent (16.78 points) to 2,811.96. Turnover […]
Sri Lanka CB governor says South Asian policy making improving
Aug 21, 2008 (LBO) – Economic policies in South Asia are improving and people are taking ownership for policymaking and are no longer driven by multilateral institutions, Sri Lanka’s central bank governor Nivard Cabraal said.“We are now taking ownership of our own destinies,” Cabraal said at the opening of a regional symposium of senior central […]
Sri Lanka stocks stagnate, more trading in CIC
Aug 21, 2008 (LBO) – Sri Lankan stocks closed marginally weaker Thursday, the indices dragged down by falls in blue chips, with Chemical Industries (Colombo) again being heavily traded, brokers said.The All Share Price Index was virtually unchanged, just half a point down at 2,424.71 while the more liquid Milanka dropped 0.17 percent (4.82 points) […]
Sri Lanka central bank sells own securities to destroy money
Aug 20, 2008 (LBO) – Sri Lanka’s central bank said it is selling its own securities to remove money from the banking system, after running out of its Treasury bill stock in a bid to keep money supply growth low.But access to the window has been restricted, allowing market rates further up the yield curve […]
Sri Lanka seeks fisheries aid from Iceland
Aug 20, 2008 (LBO) – Sri Lanka has sought help from Iceland to develop its fisheries and geo-thermal resources and both countries plan to improve air travel links, the foreign affairs ministry said in a statement. The request for aid was made by Sri Lankan foreign minister Rohitha Bogollagama during a visit to Reykjavik earlier […]