Category: Economy and Markets
Sri Lanka rupee gains on greenback; exporters sell forward
Mar 10, 2008 (LBO) – Sri Lanka rupee gained against the greenback in early trading Monday with state names coming in to cap the domestic currency at 107.50/55 levels while exporters scrambled to sell forward, dealers said.Authorities have been holding the rupee at around 107.70/80 levels in the first two months of 2007, but on […]
Sri Lanka stocks close higher; rupee kept down
March 07, 2008 (LBO) – Sri Lanka’s stocks closed marginally higher Friday with the help of heavy trading in Sri Lanka Telecom shares, brokers said. The market All Share Index closed up 1.5 points at 2,567.79 with the more liquid Milanka Index closing up one point at 3,217.91. In forex markets the rupee briefly spiked […]
Sri Lanka business should demand better governance not subsidies: senior executive
March 05, 2008 (LBO) — A senior business executive urged Sri Lankan businesses not to ask for subsidies which were needed for a safety net for the poor that is hardest hit by inflation, but ask for better governance and economic management.“What the private sector should ask for is good governance, good macro-economic management and […]
Sri Lankan shares lose momentum
Mar 05, 2008 (LBO) – Sri Lankan stocks lost momentum Wednesday with the indices barely managing to maintain the previous day’s gains and trading in York Arcade and John Keells Holdings being the main activity.The All Share Price Index up just 3.98 points to close at 2,566.23 and the more liquid Milanka went up 2.87 […]
Sri Lanka loan deal to Standard Chartered and Deutsche Bank
March 5, 2008 (LBO) – Standard Chartered and Deutsche Bank has won a deal to raise up to 300 million dollars for Sri Lanka, priced 259 to 370 basis points above London benchmark rates, the government’s debt office said. . Standard Chartered has been mandated to raise 150 million dollars and go up to a […]
Sri Lanka shares driven up on SLT trades ahead of court ruling
Mar 04, 2008 (LBO) – Sri Lankan stocks extended gains on Monday to close higher Tuesday, pushed up by speculative trading in index-heavy Sri Lanka Telecom, brokers said.The All Share Price Index gained 28.71 points or 1.13 percent to close at 2,562.25 while the more liquid Milanka went up 41.08 points or 1.29 percent to […]
Sri Lanka shares edge higher, LMF draws interest
Mar 03, 2008 (LBO) – Sri Lankan stocks closed slightly higher Monday with a crossing of Sampath Bank shares and heavy in Lan trading in Lanka Milk Foods helping turnover, brokers said. Market heavyweight Dialog Telekom closed flat at 17.75 after going up to 18.00 during the day. The All Share Price Index gained 2.68 […]
South Asia gets more FDI despite problems; political risk in Pakistan, Sri Lanka, Afghanistan
MANILA, Feb 29, 2008 (AFP) – Robust near-term economic growth should drive strong foreign direct investment flows into South Asia despite corruption, poor infrastructure, rigid labour laws and civil unrest, the Asian Development Bank said Friday.FDI flows into the Indian sub-continent had risen rapidly since 2004, growing by 132.9 percent in 2006 to 24.3 billion […]
Sri Lanka inflation increases to 21.6 percent in February
Feb 29, 2008 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 21.6 percent in the 12-months to February from 20.8 percent, with the index gaining 2.8 percent in the past month, while an older index showed a 0.7 percent increase. In the first half of 2007 the monetary authority was successful in combating […]
Sri Lanka stocks close lower; Sampath Bank trades boost turnover
Feb 29, 2008 (LBO) – Sri Lanka’s shares closed lower on Friday with index heavy Dialog Telekom and John Keells Holdings losing ground, dealers said.The All Share Index closed 0.36 percent 9.08 points) lower at 2,530.86 while the Milanka index shed 0.36 percent (11.56 points) to close at 3,172.21. The weekly average turnover was 648.5 […]
Sri Lanka syndicated loan hopefuls talk joint deal
Feb 28, 2008 (LBO) – Five foreign banks who bid to syndicate a 300 million US dollar loan for Sri Lanka are discussing an alternative deal to club together and find the money, bankers said. . Sri Lanka’s central bank, which manages the island’s public debt office, invited foreign banks to arrange a 5-year dollar […]
Sri Lanka to release new currency notes
Feb 27, 2008 (LBO) – Sri Lanka will release new currency notes under the signature of president Mahinda Rajapaksa, who is also the finance minister, and governor Nivard Cabraal, the Central Bank said. This week the central bank invited ideas for a new series of notes. A 1,000 rupee note with the new signature will […]