Category:
Money Trees
Dec 06, 2007 (LBO) – Sri Lanka’s financial and accounting regulators are developing more reliable ways of valuing trees in forestry firms, the Sri Lanka Accounting Auditing Standards Monitoring Board (SLAASMB) said. “When finalized, the guidelines will provide a reliable basis to value biological assets,” the SLAASMB said. “It will provide preparers, auditors and regulators […]
OECD sees strong euro, tight credit hitting eurozone growth
PARIS, Dec 6, 2007 (AFP) – A strong euro and tougher credit conditions will weigh on the eurozone economy next year, the OECD predicted on Thursday, cutting its 2008 growth forecast to 1.9 percent from 2.3 percent previously. It also warned that a stronger-than-expected slowdown in the United States, Europe’s biggest trade partner, would also […]
Police, politicians and judges most corrupt: watchdog
BERLIN, Dec 6, 2007 (AFP) – One in every four people has been asked to pay a bribe to the police, and political parties and parliaments are the most tainted by corruption, a Transparency International study released on Thursday shows. The poor are targeted for bribes in both developed and developing countries, according to the […]
Oil prices lower as OPEC keeps output quota unchanged
SINGAPORE, Dec 6, 2007 (AFP) – Oil prices fell in Asia trade Thursday after OPEC rebuffed pressure and left output unchanged, dealers said. The market’s muted reaction to a sharper-than-expected drawdown in US crude stocks also reflected growing concerns that high prices may eventually take their toll on consumers, they said. In early morning trade, […]
Chavez vents anger after people reject totalitarian constitution
CARACAS, Dec 5, 2007 (AFP) – President Hugo Chavez said Wednesday his push to have Venezuela accept sweeping constitutional reforms has “not finished” despite being rejected in a weekend referendum. “The discussion on the transformation of the state is not finished,” he told state VTV television. “While the opposition continues to celebrate a Pyrrhic victory, […]
Sri Lankan visitors to USA to give all finger prints
Dec 06, 2007 (LBO) – Visa applicants to the United States will have to give prints of all ten fingers from next week, the US embassy in Colombo said. The embassy said the procedure, which was required by US Departments of State and Homeland Security, would be implemented world-wide from December 10. The US started […]
Sri Lanka fears more attacks on civilians
COLOMBO, Dec 6, 2007 (AFP) – Sri Lanka Thursday warned of more Tamil Tiger attacks against civilians a day after the guerrillas were accused of being responsible for a roadside bomb blast that killed 16 bus passengers.A Norwegian-brokered 2002 truce began to unravel in December 2005.Media Minister Anura Yapa said Wednesday night’s bombing of a […]
Sri Lanka rupee zooms amidst record exporter selling
Dec 06, 2007 (LBO) – The Sri Lanka rupee extended gains against the greenback Thursday as panicky exporters sold dollars fearing more ‘carry trade’ style activity from hedge funds, dealers said, after authorities relaxed foreign investor limits on local bonds. Sri Lanka government securities offer attractive rates of around 19.00 percent a year for macro […]
Sri Lanka inflation caused by govt. credit, not private sector: IMF
Dec 06, 2007 (LBO) – Sri Lanka’s inflation is strongly linked to government credit, the International Monetary Fund (IMF) said in a report released this week, clearing the private sector of blame for rapidly rising prices. . IMF said bank credit to the private sector has accelerated in Sri Lanka in recent years, but the […]
Sri Lanka treasuries yields up
Dec 05, 2007 (LBO) – Yields on Sri Lanka government treasury bills rose sharply on Wednesday with the benchmark 3-month bills gaining 96 basis points to 18.03 percent, the government’s debt office said. One year yields rose 89 basis points to 19.96 percent and six months bills gained 94 basis points to 18.79 percent at […]
Sri Lanka rupee gains on the greenback; intra day peak of 108.70
Dec 05, 2007 (LBO) – Sri Lanka rupee rose sharply against the greenback in spot trade Wednesday on the back of foreign purchases of rupee bonds, dealers said.The rupee hit an intra-day high of 108.70/80 against the greenback in late afternoon trading until state names which usually represent the monetary authority started to buy into […]
Regional Finance
Dec 05, 2007 (LBO) – Sri Lanka’s Sampath Bank is looking to lend more money in the Maldives with 45 million dollars raised through a syndicated loan arranged by HSBC Bank, officials said. . “We already have a portfolio of about two million dollars in the Maldives,” Samapath Bank chief Anil Amarasuriya said. The bank […]