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‘s central bank talks down rates
Jan 10, 2008 (LBO) – Sri Lanka’s central bank says that Treasuries yields will continue to ease following steep falls seen in government securities rates in the past two weeks.“It is expected that this declining trend of the interest rate structure in the market will be continued,” the public debt office, which is part of […]
Sri Lanka sees foreign visitors surge 55-pct in December
Jan 10, 2008 (LBO) – Foreign visitors to Sri Lanka surged 55 percent in the peak winter season month of December 2007, the island’s tourism promotion office said, though the island saw 11 percent less tourists in the full year. Visitors from key Western European markets jumped 56.6 percent to 23,500 in December with the […]
Sri Lankan Airlines aircraft damaged in Frankfurt
Jan 10, 2007 (LBO) – A SriLankan Airlines aircraft has been damaged at Franfurt airport shortly before take off, but passengers had been housed in hotels and are being flown to Colombo on other carriers, a company spokesman said. In October 2007, another aircraft scraped the wing of a SriLankan Airlines aircraft while it was […]
”s cheapest car
NEW DELHI, Jan 10, 2008 (AFP) – India’s Tata Group unveiled Thursday the world’s cheapest car costing 2,500 dollars amid predictions the no-frills vehicle could revolutionise how millions in India and elsewhere travel.The launch of the Tata Nano was a landmark in the history of transportation, claimed 70-year-old tycoon Ratan Tata, the head of the […]
Beijing Hamburgh rail link to cut transit time by half
BEIJING, Jan 10, 2008 (AFP) – China and five other countries have agreed to collaborate on a train service between Asia and Europe that is expected to transport cargo twice as quickly as by sea, Chinese state media said Thursday. Under an agreement signed on Wednesday by China, Mongolia, Russia, Belarus, Poland and Germany, the […]
Maldives budget deficit could undermine economy: World Bank
January 10, 2008 (LBO) — The World Bank warned Maldives, South Asia’s richest economy, that recent economic gains could unravel, if the atoll nation failed to tackle political instability and curb its budget deficit.“Constitutional changes, pressures for unsustainable fiscal deficits, and vulnerability to economic shocks could offset or potentially roll back some development gains,” Washington-based […]
Dollar weaker in Asia ahead of Bernanke speech
TOKYO, Jan 10, 2008 (AFP) – The dollar softened in Asian trade Thursday as market players waited for clues from Federal Reserve Chairman Ben Bernanke on the chances of further US interest rate cuts, dealers said.The dollar eased to 109.87 yen in Tokyo morning trade from 109.93 in New York late on Wednesday. The euro […]
Sri Lanka central bank governor promises stability in 2008, no legislated targets yet: interview
Jan 10, 2007 (LBO) – After more than 50 years of failing to achieve price stability according to its own mandate, Sri Lanka’s central bank is facing unprecedented fire from critics as awareness of the dangers of unbridled, pure fiat central banking spreads in the country. Last year the Central Bank inflated the island’s economy […]
Sri Lanka treasuries yields plummet
Jan 08, 2007 (LBO) — Sri Lanka’s short term treasuries yields plunged at Wednesday’s auction, while secondary market yields on longer term bonds also fell amidst foreign buying, dealers said. Three month treasury yields fell 118 basis points to 20.12 percent, 6-month bills fell 20 basis points to 19.79 percent and 12-month yields also fell […]
Sri Lanka torn between syndicated loan and sovereign bond: official
Jan 09, 2008 (LBO) – Sri Lanka may float a medium to long term syndicated loan or a bond to raise funds from foreign markets if conditions are right in 2008, a top government official said Wednesday. Last year the Sri Lanka rupee only depreciated by about one percent. “Depending on our needs and depending […]