Category: Economy and Markets
Sri Lankan plantations stocks sought after on earnings outlook
Feb 18, 2008 (LBO) – Sri Lankan shares ended higher Monday driven by keen interest in plantations stocks by domestic retail investors anticipating higher earnings on the back of strong commodity prices, brokers said. In the bond market, all bids received at the auctions were rejected by the central bank. The All Share Price Index […]
Sri Lanka kicks off US$300mn syndicated loan
Feb 18, 2008 (LBO) – Sri Lanka has called for proposals from foreign banks to raise 300 million dollars from a syndicated loan aiming to close the deal by late March or April, officials and bankers said. The Central Bank, which manages the island’s public debt, will call a meeting of bankers later this week […]
Sri Lanka, emerging Asia would gain from prudent monetary policy: S&P
Feb 15, 2008 (LBO) – Countries that resist pressure to ease monetary policy would make long term gains, the rating agency Standard and Poor’s said in a report on 11 Asian nations that showed Sri Lanka had the highest forecast inflation in 2008. “Some central banks will likely yield to calls to support growth and […]
Sri Lanka trade deficit stable in 2008, exports up in December
Feb 15, 2008 (LBO) – Sri Lanka’s trade deficit grew a mere 5.6 percent in 2007, and exports in December soared 22.7 percent to 863.4 million dollars, the Central Bank said. The trade balance grew to 3,560 million dollars in 2007 with exports growing 12.5 percent to 7.7 billion dollars, and imports growing 10.2 percent […]
Sri Lanka slams S&” outlook cut
Feb 15, 2008 (LBO) – Sri Lanka’s central bank has slammed Standard and Poor’s (S&P) over an outlook cut saying the move was unwarranted, illogical, ill-advised, and without rational basis. “It is abundantly clear that S&P has chosen to overlook the many favourable factors and are, for reasons best known to them, suddenly discovering weaknesses […]
Sri Lanka shares fall, high interest rates herald uncertainty
Feb 15, 2008 (LBO) – Sri Lankan shares ended lower Friday with transactions in Royal Ceramics and HNB non-voting shares the main feature of the day but continuing high interest and inflation rates are seen dampening investor interest in stocks. The All Share Price Index lost 20.85 points or 0.83 percent to end at 2,485.05 […]
Sri Lanka tile shares rise on earnings outlook
Feb 14, 2008 (LBO) – Sri Lankan shares closed virtually flat Thursday with investors chasing stocks of ceramic tile firms expected to report higher earnings on strong demand from the construction sector, brokers said. The All Share Price Index ended just one and a half points down at 2,505.90 while the more liquid Milanka index […]
Sri Lanka shares end higher on bank, ceramic interest
Feb 13, 2008 (LBO) – Sri Lankan shares ended higher Wednesday on the back of Tuesday’s gains with turnover boosted by large transactions in Lanka Walltile and National Development Bank, brokers said. The All Share Price Index closed at 2,507.42, up 12.58 points or half a percentage point while the more liquid Milanka index rose […]
Sri Lanka shares end higher as funds return
Feb 12, 2008 (LBO) – Sri Lankan shares ended higher Tuesday with brokers saying there was interest across a range of sectors with institutional buying evident.The All Share Price Index went up 0.36 percent or 9.07 points to 2,494.84 while the more liquid Milanka index ended up 0.52 percent or 16.01 points at 3,123.31 with […]
Sri Lanka under pressure to de-politicize price index
Feb 09, 2008 (LBO) – Pressure is mounting to de-politicize Sri Lanka’s new price index, which the authorities are already using as a guide for monetary policy and are pushing trade unions to accept for indexing wages. The new Colombo Consumer Price Index or CCPI (N) has come under fire for excluding alcohol in an […]
Sri Lankan shares end up, more interest in Dockyard
Feb 07, 2008 (LBO) – Sri Lankan stocks edged up on thin trading Thursday with a big parcel of Distilleries propping up turnover but investors remained worried about the profitability of companies given high interest rates and inflation. The All Share Price Index went up 17.44 points to 2,454.89 while the liquid Milanka index closed […]
Sri Lanka stocks close higher on selective foreign buying
Feb 06, 2008 (LBO) – Sri Lanka shares closed marginally higher with turnover being driven to 224 million rupees through transactions on selective stocks picked by investors anticipating higher earnings for December quarter, brokers said. Colombo stock market’s All Share Index closed 3.41 points higher at 2,437.45 and the Milanka index was up 1.56 points […]