Category: Economy and Markets
Sri Lankan shares slide amid war jitters
May 27, 2008 (LBO) – Sri Lankan share prices weakened further Tuesday, with the main index losing half a percentage point a day after a bomb ripped through a crowded passenger train in the capital killing at least nine people.Another bombing inside the city on May 16 killed 13 people and wounded more than 80 […]
Sri Lanka central bank says inflation would be higher than target
May 26, 2008 (LBO) – Sri Lanka’s central bank said inflation would be higher than targeted in 2008, as the monetary authority found it difficult to counter pressures from rising commodity prices, especially oil. “In the circumstances there is a strong likelihood of the actual 2008 inflation being significantly higher than the previous estimates..,” the […]
Sri Lanka minister threatens mandated wage hike
May 26, 2008 (LBO) – Sri Lanka’s labour minister threatened to mandate a private sector wage hike the same day the island’s monetary authority said it was trying to contain ‘second round’ effects on inflation. The minister of labour, Athauda Seneviratne told our sister site vimasuma.com that the government had decided the private sector should […]
Reserve currencies should stop money printing to contain commodity bubble: IMF study
May 25, 2008 (LBO) – The world’s major ‘reserve currency’ central banks should stop money printing to end a monetary shock that is firing a global commodity bubble and food riots in poor countries, a new International Monetary Fund study has said. The money issued by major central banks such as the Federal Reserve and […]
Sri Lanka stocks close lower on Dialog Telekom worries
May 23, 2008 (LBO) – Sri Lanka stocks closed 0.51 percent lower Friday affected by a 75 cent drop in the share price of Dialog Telekom after it released quarterly results showing profit falling by half, brokers said. Total turnover was 301.8 million rupees with 9.9 million in volume trade. The All Share Price Index […]
Sri Lanka Treasuries plunge across tenors
May 21, 2008 (LBO) – Sri Lanka Treasuries yields plunged for the third week running with the benchmark 3-month yield falling 41 basis points to 17.14 percent, the government’s debt office said. Corrected 6-month yield The government sold 4.0 billion out of 10.5 billion rupees of maturing bills, the debt office, which is a unit […]
Sri Lankan stocks sag with investors in holiday mood
May 21, 2008 (LBO) – Sri Lanka’s stocks weakened further Wednesday as the market re-opened after a long weekend with brokers expecting trading to be sluggish in the next two days owing to the Vesak holiday mood of investors. Talawakelle Plantations traded one rupee higher at 41.00 and Kegalle Plantations was also up by one […]
Sri Lankan stock prices, turnover slump
May 21, 2008 (LBO) – Sri Lanka’s stocks weakened further Wednesday with turnover falling below 100 million rupees and brokers expecting the market to be sluggish in the rest of the trading week shortened by a religious holiday. The Colombo Stock Exchange All Share Index ended down 0.38 percent (9.83 points) at 2,586.81 points while […]
Sri Lankan stocks fall on profit taking, earnings fears
May 16, 2008 (LBO) – Sri Lankan stocks ended lower Friday with investors taking profits, ahead of a four day holiday, amid continuing worries about future corporate earnings, brokers said, as a suicide blast occurred a block away from the stock exchange. A Tamil Tiger suicide bomber rammed a police bus killing nine people and […]
Sri Lanka to re-issue forex bonds in US dollars and euros
May 15, 2008 (LBO) – Sri Lanka has started the process of re-selling a maturing 250 million dollar bond issue targeted at resident investors by calling for agents to market and sell the bond. Sri Lanka is expected to wrap up a 150 million dollar 3-year loan arranged by Standard Chartered Bank this month, with […]
Sri Lanka treasury yields fall across tenors
May 14, 2008 (LBO) – Sri Lanka’s Treasury bill yields tumbled across tenors with the benchmark 3-month yield falling 54 basis points to 17.55 percent, the government’s debt office said. The debt office which is a unit of the country’s central bank said the government sold 6.0 billion rupees worth of bills out of a […]
Sri Lankan stocks fall in thin trading on earnings fears
May 13, 2008 (LBO) – Most Sri Lankan shares lost value Tuesday in thin trading with investors apparently worried that corporate earnings could be hit by high inflation and interest rates, brokers said.The Colombo Stock Exchange All Share Index fell 1.04 percent (27.35 points) to 2,613.89 and the more liquid Milanka Index was down 1.39 […]