All Blogs
Fed signals end of monetary policy road
WASHINGTON, May 21, 2008 (AFP) – The Federal Reserve sent out signals Wednesday the US economy will have to muddle through its crisis without further rate cuts, even as the central bank slashed its forecast for growth in 2008.Bethune said the “props” from the government’s 168-billion-dollar economic stimulus and tax rebate program will be “pulled […]
Oil smashes 135 dollars in Asian trade
SINGAPORE, May 22, 2008 (AFP) – Oil smashed past 135 dollars a barrel for the first time Thursday, continuing its astonishing rise following unexpected drops in US crude and gasoline stocks in a tight market, dealers said.In Asian morning trade, New York’s main oil futures contract, light sweet crude for July delivery, rose to a […]
Sri Lanka says human rights concerns being addressed
May 22, 2008 (LBO) – Sri Lanka’s government has downplayed the loss of its seat on the United Nations Human Rights Council and said it needed more “space” to address human rights concerns. Foreign affairs minister Rohitha Bogollagama said Sri Lanka won 101 votes in its bid for a seat on the Geneva-based body, more […]
Fuel Mix
May 22, 2008 (LBO) – Indian Oil Corporation’s Sri Lanka unit raised diesel retail prices by 20 rupees to 100 rupees a litre putting pressure on the state-run Ceylon Petroleum Corporation (CPC) which sells more fuel to follow suit. Before the increase, Lanka IOC says it was losing 43 rupees a litre from the sale […]
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 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 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 […]
Higher Rate
May 23, 2008 (LBO) – Sri Lanka’s Commercial Bank says it will pay 12 percent interest a year on a savings account, if it is opened with a minimum balance of 50,000 rupees. Other than maintaining a minimum balance of 50,000 rupees, the account, branded ‘Commercial Bank Super Saver’ has no restrictions on the number […]
Sri Lanka Chilaw Plantations back in state hands
May 21, 2008 (LBO) – Chilaw Plantations, a Sri Lanka government owned plantation that was under private management, would be taken back to state control before the end of the month, a senior government official said. Though the bulk of the plantations are now in private hands, some plantations, including Elkaduwa Plantations in the Matale […]
Sri Lanka eastern dairy industry gets US boost
May 21, 2008 (LBO) – The United States which is helping milk farmers in eastern Sri Lanka says more private sector investment is needed to boost production and get better prices for producers. Hess says the dairy sector holds great promise for improving the livelihoods of thousands of Sri Lanka farmers throughout the island, especially […]