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Monday September 25th, 2023

Beer becomes Bank of England’s new tipple of choice

LONDON, Nov 14, 2014 (AFP) – The Bank of England is cutting down on wine and has started serving beer instead since Canadian Mark Carney took over as governor last year with a promise to sweep away the cobwebs, the bank said on Friday.

An unusual bank data release showed the City institution had bought 648 bottles of beer for official functions so far this year for £758.16 (954 euros, $1,187) — up from just 24 bottles in 2013.

But the bank said it was cutting down on supplies of wine and champagne in another sign of the times after the decline of bubbly-fuelled partying in the City in the wake of the global financial crisis.

A total of 180 wine bottles including champagne have been purchased this year for an average of £9.95 each, compared to 756 bottles in 2013.

"There has been a change in that we are now serving beer at various functions, in addition to other beverages. Hence the reason for the increase in beer purchased for 2014," a central bank spokesman said.

Carney gave up another time-honoured Bank of England tradition earlier this year when he announced that cricket would be abandoned in favour of rounders as part of the bank’s annual sports day.

The 49-year-old former Bank of Canada governor was the first non-Briton to be appointed head of the Bank of England since it was founded in the 17th century.

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Sri Lanka sells 2028 bonds at 14.52-pct

ECONOMYNEXT – Sri Lanka sold all offered bonds in 2026 and 2028 maturities raising 220 billion rupees from an auction Monday, data from the state debt office showed.

The debt office sold 135 billion rupees of 1 June 2026 bonds to yield 15.64 percent.

Another 85 billion rupees in 01 July 2028 bonds were sold to yield 14.52 percent.

The 2028 bond is offered on tap at the weighted average yield. (Colombo/Sept25/2023)

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Sri Lanka’s stocks end down on Monday after slow day of trading

ECONOMYNEXT – Sri Lanka shares were down at close of trading on Monday.

Turnover was 550 million rupees.

The main All Share Price Index was down 0.36 percent or 40.02 points to 11,216.50, while the S&P SL20 was down 0.44 percent or 14.07 points to 3,164.52.

Trading in the Capital Goods Industry (174,037,134) drove turnover.

Commercial Bank, Expolanka Holdings, and Aitken Spence plc saw losses, while National Development Bank, John Keells Holdings and Melstacorp saw gains in the day’s trading.

The market saw a net foreign inflow of 13 million rupees, while the yearly net foreign inflow was 429 million rupees. (Colombo/Sep25/2023)

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Sri Lanka rupee closes at 324.75/324.90 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 324.75/90 to the US dollar on Monday, from Friday’s close at 324.70/325.00 dealers said.

Bond yields were up.

A bond maturing on 01.07.2025 closed up at 15.55/15.70 percent on Monday, after closing at 14.95/15.30 percent on Friday.

A bond maturing on 01.08.2026 closed up at 15.50/15.65 percent up from 14.95/15.10 percent.

A bond maturing on 15.09.2027 closed up at 14.75/15.50 percent from 14.55/15.00 percent.

A bond maturing on 01.05.2028 closed up at 14.25/14.60 from 14.00/14.30 percent.

A bond maturing on 15.05.2030 closed stable at 13.00/13.50.

A bond maturing on 01.07.2032 closed at 12.95/13.45 percent from 13.00/13.45 percent. (Colombo/Sept25/2023)

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