Author: lbostgadmin
Fed Chair Yellen keeps printing money at a lower rate
WASHINGTON, March 19, 2014 (AFP) – New Federal Reserve chief Janet Yellen kept the central bank firmly on the path set by predecessor Ben Bernanke Wednesday, shrugging off recent economic weakness as largely weather-caused. The Fed slightly cut its forecast for economic growth, trimming the high end of the ranges by 0.2 percentage point to […]
Sri Lanka releases details on foreign reserves, gold holdings
Mar 20, 2014 (LBO) – Sri Lanka has released a breakdown of foreign assets and gold holdings in official forex reserves for November 2013 as well as liabilities involving swaps and other payments.Foreign currency liabilities involving forex swaps and official loans due for repayment were also given on the liabilities side. For the next year […]
Sri Lanka shares close flat
Mar 20, 2014 (LBO) – Sri Lanka’s shares close slightly higher amid thin price increases in the index heavy stocks, brokers said. Ceylon Cold Stores closed 5.70 rupees lower at 141.00 rupees and Nestle Lanka closed 2.90 rupees higher at 1,953.10 rupees. Ceylon Tobacco Company closed 10 cents lower at 1,099.90 rupees and John Keells […]
”’ by RAM
Mar 20, 2014 (LBO) – Sri Lanka’s Softlogic Retail (Pvt) Ltd, a consumer durables and apparel retailer has been given a ‘BBB-‘ domestic rating by RAM Ratings Lanka. ” The ratings are upheld by the Company’s strong competitive position backed by its diversified target markets and a retail branding strategy which caters to the various […]
Sri Lanka releases rights activists after outcry
COLOMBO, March 19, 2014 (AFP) – Sri Lanka has released two leading rights activists after their detention under strict anti-terrorism laws triggered international condemnation, police and supporters said on Wednesday. Sri Lanka has previously said it needs more time to address issues of accountability and reconciliation after ending the 37-year conflict, which according to UN […]
Sri Lanka Telecom to develop property holdings
Mar 19, 2014 (LBO) – Sri Lanka Telecom group said it had set up a separate company to develop its “extensive property portfolio” around the country which was unused or or under-used.In 2013, SLT Property Management (Pvt) Ltd (SLTPM) had been incorporated to develop its property holdings. “Given the growing demand for property in Sri […]
Maldives probe reports of possible MH370 sighting
NEW DELHI, March 19, 2014 (AFP) – Authorities in the Maldives were probing reports Wednesday that islanders saw a “low-flying jumbo jet” on the day the missing Malaysia Airlines plane vanished.While the islands’ National Defence Force said that no trace of Flight MH370 had been picked up on radar, police and the civil aviation authority […]
‘s homing trick stuns scientists
PARIS, March 19, 2014 (AFP) – The Burmese python has a built-in compass that allows it to slither home in a near-straight line even if released dozens of kilometres away, researchers said Wednesday.Capable of growing over five metres (16 feet) long, pythons are among the world’s largest snakes.Although native to South and Southeast Asia, the […]
Sri Lanka target Russian and Ukraine visitors with beach festival
Mar 19, 2014 (LBO) – A beach festival in Bentota in Southwestern Sri Lanka will kick off next week targeting water sports lovers and tourists, particularly those from Russia and Ukraine, officials said. The Bentota Beach Festival will start on March 21. It is organized by the Hawkeyes, the sports arm of Sri Lanka’s Military […]
Sri Lanka shares end slightly higher
Mar 19, 2014 (LBO) – Sri Lanka’s shares end 0.07 percent higher with banking and beverages stocks gaining amid strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 4.41 points higher at 5,912.05 up 0.07 percent. The S&P SL20 closed 10.58 points higher at 3,225.22, up 0.33 percent. Turnover was 640.97 […]
Sri Lanka Treasuries edge lower
Mar 19, 2014 (LBO) – Sri Lanka’s Treasuries yield edged lower at Wednesday’s auction with the 3-month yield down 03 basis points to 6.66 percent, data from the state debt office showed. The 6-month yield fell 02 basis points to 6.83 percent and the 12-month yield fell 01 basis point to 7.05 basis points. The […]
Argentina downgraded amid money printing, currency depreciation, inflation
WASHINGTON, March 17, 2014 (AFP) – Moody’s lowered its credit rating for Argentina by one step Monday, citing a sharp fall in the country’s reserves and inconsistent economic policies.The fresh blow to the country came as Buenos Aires reported that prices rose 3.4 percent in February over January, taking the annual inflation pace to more […]