Category: Economy and Markets
Sri Lanka inflation to remain high in 2008 first half?
Feb 05, 2008 (LBO) — Sri Lanka’s central bank has warned that inflation may remain high around 16 to 20 percent in the first half of 2008 and blamed “low supply” of domestic foods for the sudden price jump of 3.0 percent in January. Eighty percent of the price increases was due to food, the […]
Sri Lanka share prices slump as punters turn choosy
Feb 05, 2008 (LBO) – Sri Lankan stocks ended lower Tuesday with investors picking shares of companies expected to report higher profits or known to pay high dividends, brokers said. The All Share Price Index fell 19.52 points to 2,434.04 while the liquid Milanka index closed down1.32 percent or 41.16 points at 3,082.22. Turnover was […]
Sri Lanka says Japan is not about to cut aid
Feb 02, 2008 (LBO) – Sri Lanka’s foreign ministry says it has received assurances from Japan that aid will not be cut, after reports that Japan would review its aid policy to the island. Japan’s special envoy to Sri Lanka’s peace process Yasushi Akashi visited the island just as the government pulled out of a […]
Sri Lanka can stop inflation with currency board: Steve Hanke
Feb 02, 2008 (LBO) – Sri Lanka could end inflation by adopting a working exchange rate system and a credible external anchor in the form of a currency board, a top international monetary economist has said. Related Links Go to article on Cato Institute website Go to Globe Asia column Go to Steve Hanke’s columns […]
Sri Lanka doubles bond coupons to 15.50-pct
Feb 01, 2008 (LBO) – Sri Lanka has more than doubled the coupons on its two year bonds, the government’s debt office said, in a move that will give the government more immediate cash. The debt office offered 750 million rupees of 2-year bonds maturing on January 15, 2010 Friday, with a coupon of 15.50 […]
Sri Lankan investors on look out for earnings surprises
Feb 01, 2008 (LBO) – Sri Lanka’s share market closed marginally higher Friday with investors selectively buying stocks expected to report higher quarterly earnings this month, brokers said. The market is now more of an ‘event driven’ entity, visible from the choppy trading during January this year in comparison to that of last year, because […]
Sri Lanka rupee at one year highs, forward premiums narrow
Feb 01, 2008 (LBO) – The Sri Lanka rupee hit 13-month highs of 107.65/70 against the US dollar as foreign bond buying and tighter monetary policy strengthened the rupee, dealers said. On January 01, 2007 the rupee had closed at 107.60/70 against the US dollar and on Jan 02 at 107.67/77, dealer said. The rupee […]
Sri Lanka negotiates more trade, investment deals
Jan 31, 2008 (LBO) – Sri Lanka is negotiating more free trade and investment deals with other countries to increase trade and foreign investment, the Foreign Affairs Ministry said Thursday. Two rounds of talks were held in January with neighbours India and Pakistan on free trade and investment agreements while the first negotiations on an […]
Sri Lanka Keells Food share price perks up on higher profits
Jan 31, 2008 (LBO) – Sri Lankan stocks ended higher Thursday with two foreign crossings of Dialog Telekom propping up turnover.. The All Share Index went up half a percentage point or 12.34 points to 2,446.13 while the liquid Milanka index closed up 0.69 percent or 21.45 points at 3,113.07. Turnover went up to 325 […]
Sri Lanka maiden sovereign bond wins award
Jan 31, 2008 (LBO) — Sri Lanka’s 500 million dollar maiden sovereign bond, issued last October soon after the sub-prime bubble broke, has bagged a top award from an international financial publication. Finance Asia named Sri Lanka’s issuance the best sovereign bond as it was pulled off amid difficult circumstances. The bond was lead-managed by […]
Sri Lanka treasury yields steady, tap open
Jan 30, 2008 (LBO) — Average yields at a Treasury bill auction remained steady Wednesday but the government was fishing for more cash after the auction, dealers and the debt office said. Treasuries were extensively sold on ‘tap’ after the auction by the debt office, which is part of the Central Bank, in December 2007, […]
US presidential hopeful Ron Paul slams stimulus package, Fed rate cuts: report
Jan 27, 2008 (LBO) – Republican presidential hopeful Ron Paul has slammed a US economic stimulus package based on tax-refunds and called for fiscal prudence and less Federal Reserve money printing, which caused the current turmoil in the first place. . Related video: Ron Paul taking on Fed Chairman Ben Bernanke. Paul says the actual […]