Category: Economy and Markets
‘s Dhammika Perera buys more Hayleys
June 25, 2008 (LBO) – Sri Lanka stocks closed flat Wednesday with Dhammika Perera’s Vallibel group buying more Hayleys shares and further increasing their stake in the conglomerate to 14.74 percent, brokers said. The overall market was barely changed with the All Share Price Index down 0.06 percent (1.41 points) to end at 2,479.92 while […]
‘s Dhammika Perera buys bigger chunk of Hayleys
June 24, 2008 (LBO) – Sri Lanka’s Vallibel group controlled by businessman Dhammika Perera bought another chunk of Hayleys Tuesday, raising its stake in the conglomerate to over 11 percent. “Today we crossed the 10 percent mark,” Dhammika Perera’s investment advisor Nimal Perera told LBO.“Now we have 11.09 percent of Hayleys.” He said they bought […]
Sri Lanka stocks end up on retail activity in energy counter
June 23, 2008 (LBO) – Sri Lanka stocks Monday edged up again on the back of Friday’s gains propelled by heavy trading in Vallibel Power Erathna, which announced a takeover deal, and trading in Dialog Telekom and Hayleys. Brokers said retail activity might pick up this week as investors may be more liquid with Sri […]
Sri Lanka sells US$230mn in two year bonds
June 23, 2008 (LBO) – Sri Lanka sold 2-year bonds worth 230 million US dollars priced at 294 basis points above the London Interbank Offered (LIBOR) rate, the government’s debt office said. At the same time 250 million dollars of old Sri Lanka Development Bonds also matured, indicating a net pay down of 20 million […]
Sri Lanka private sector credit slows, spike in state credit
June 20, 2008 (LBO) – Sri Lanka’s private sector credit had slowed to 15.1 percent by April 2008 following tight monetary policy, though state credit had spiked in that month, but inflation would slow after July, the Central Bank said. Till August 2007, credit to private sector has been growing at a rate of 25 […]
Sri Lankan shares rebound, heavy trading in Vallibel Power
June 20, 2008 (LBO) – Sri Lankan shares closed more than one percent higher Friday, ending several days of declines, with speculative trading in Vallibel Power Erathna boosting turnover, brokers said.The All Share Price Index gained 1.11 percent (26.91 points) to end at 2,459.98 while the more liquid Milanka rose 1.33 percent (38.68 points) to […]
Sri Lanka economic statistics questioned
June 18, 2008 (LBO) – Rosy growth figures put out by government outfits are suspect, a Sri Lankan think tank has said, calling for the collection and analysis of socio economic data to be entrusted to independent authorities. The Point Pedro Institute of Development, said the outlook for the island economy is bleak given rising […]
Sri Lanka stocks end little changed
June 17, 2008 (LBO) – Sri Lanka’s stock market closed flat Tuesday on retail interest with Ceylinco Insurance dominating the thin trading on speculation of a rights issue, brokers said.The All Share Price Index fell 0.19 percent (4.54 points) to end at 2,440.37 while the more liquid Milanka was down 0.16 percent (4.80 points) to […]
Sri Lanka stocks end weaker on inflation concerns
June 16, 2008 (LBO) – Sri Lanka stocks closed marginally lower on thin trading with high inflation and interest rates driving investors away from the market, brokers said. The All Share Price Index fell 0.43 percent (10.46 points) to end at 2,444.91 while the more liquid Milanka was down 0.62 percent (18.35 points) to end […]
Oil mania worse than dot-com craze: report
June 14, 2008 (LBO) – The current oil bubble which has seen crude rising 700-pct since November 2001 is worse than the dot-com bubble which saw the Nasdaq composite index rising 640 percent before it crashed, a media report said. Food riots in poor countries have increasingly put pressure on the Federal Reserve to alter […]
Sri Lanka to get US$900mn from World Bank for regional growth
June 13, 2008 (LBO) – Sri Lanka could get 900 million US dollars from the World Bank over the next three years to build infrastructure in lagging regions, improve health, education and safety nets, the multilateral lender said. The World Bank’s executive directors had endorsed a country assistance strategy (CAS) covering the period from July […]
Sri Lanka raises US$150mn dollars from international loan
June 13, 2008 (LBO) – Sri Lanka has raised 150 million US dollars from a loan put together by Standard Chartered Bank at 250 basis points above the London Interbank Offered Rate (LIBOR), the government’s debt office said. At a current 6-month LIBOR rate of 3.13 percent the loan costs 5.69 percent a year with […]