Category: Economy
Sri Lanka gilt dealer begins trading listed debt
Feb 11, 2014 (LBO) – Sri Lanka’s first gilt dealer has begun trading listed corporate debt in the Colombo Stock Exchange kicking off a process that could improve liquidity and secondary trading, officials said.Capital Alliance Ltd (CAL), a primary dealer in government securities became the first firm to trade as a dealer-broker Tuesday, under new […]
Sri Lanka inflation at 4.4-pct in January 2014
Jan 31, 2014 (LBO) – Sri Lanka’s consumer prices rose 4. buy 4 percent in the 12-months to January 2014, down from 4.7 percent in December, the state statistics office said.But external inflation usually generated by reserve currency central banks like the Federal Reserve has also started to moderate and if Fed tightens or normalizes […]
Asian shares tumble as emerging market fears return
HONG KONG, January 27, 2014 (AFP) – Asian markets sank on Monday following the worst losses on Wall Street in seven months, with investors gripped by renewed fears over emerging economies days ahead of a crucial Federal Reserve policy meeting. Japan’s Nikkei, which was the best performer last year, continued its 2014 downtrend as the […]
UK in nationalist bid to push up European business costs, undermine capitalism
LONDON, January 24, 2014 (AFP) – British Prime Minister David Cameron was on Friday to insist that the “re-shoring” of jobs from countries such as India and China could be a key factor in spurring European economic growth.Cameron is due to tell the World Economic Forum being held in the Swiss town of Davos that […]
” GDP data row
COLOMBO, January 22, 2014 (AFP) – Sri Lanka’s main statistics office Wednesday said a senior official who denounced alleged government pressure to inflate economic growth data would be sacked after he was found guilty of leaking confidential information. Statistics chief Gunawardena denied that he was under pressure to change economic data to suit the government […]
‘s killing
COLOMBO, January 22, 2014 (AFP) – Sri Lankan investigators arrested a ruling party politician who failed to turn up to his trial for the Christmas Day killing of a British tourist two years ago, police said Wednesday.Sampath Vidanapathirana, a councillor in the southern region of Tangalle, was tracked down and arrested in the capital Colombo […]
‘s RAM exits Sri Lanka rating agency
Jan 21, 2014 (LBO) – Malaysia’s RAM Holdings said it has sold its Sri Lanka subsidiary RAM Ratings (Lanka) Ltd to the management.“RAM has successfully nurtured a local team to continue building the company’s considerable market share in the rated bond market…,” K Govindan, group chief executive of RAM Holdings said in a statement. “We […]
Sri Lanka targets US$2.5bn in FDI in 2014
Jan 10, 2014 (LBO) – Sri Lanka is targeting 2.5 billion US dollars in foreign direct investors in 2014 with 2013 estimated to have drawn about 1.3 billion US dollars, a minister said. Investment promotions minister Lakshman Abeywardene said FDI inflows had reached 870 million US dollars by September and full year data was still […]
Sri Lanka gilt-backed yields drop ahead of auction
Jan 08, 2014 (LBO) – Sri Lanka’s secondary market gilt-backed yields have dropped sharply ahead of a Treasuries auction Wednesday and the arrival of proceeds of a sovereign bond next week, dealers said.There has been direct state borrowing from banks, especially to fund roads, instead of relying only on Treasury bills, which analysts say may […]
Sri Lanka chambers ask for probe on official statistics
Jan 07, 2014 (LBO) – Sri Lanka’s key business chambers have called for a probe on official statistics following reports on how an official was allegedly asked to boost gross domestic numbers in a court filing. “If such doubts were to persist, it would lead to a lack of credibility on a range of published […]
Sri Lanka inflation 4.8-pct by citizen index
Jan 05, 2014 (LBO) – Sri Lanka’s inflation measured by a private consumer price index rose 4.8 percent in the 12 months of 2013 in line with the 4.7 percent measured by the state statistics office. In Feb 2012, the rupee was floated, allowing the peg to fall to around 118 to the US dollar […]
Sri Lanka expects 7.8-pct growth and 5.0-pct inflation in 2014
Jan 03, 2014 (LBO) – Sri Lanka is expected to grow 7.8 percent in 2014 as business activities pick up with inflation targeted at 5.0-pct, Central Bank Governor Nivard Cabraal said.Sri Lanka has a pegged exchange rate, loosely anchored to the US dollar and money printed by the Central Bank through domestic asset acquisitions tends […]