Category: Economy

SINGAPORE, October 14, 2010 (AFP) – Singapore on Thursday announced a surprise move to tighten monetary policy, pushing the local dollar to new highs as the economy headed for 13 to 15 percent expansion this year. The Monetary Authority of Singapore (MAS) signalled its anti-inflation stance after government data showed the economy expanded an annual […]

Oct 13, 2010 (LBO) – Sri Lanka should be re-assessed by US businesses after the end of a 30-year war as the country moves forward in a peaceful environment though ethnic reconciliation remained a challenge, a top US trade official said. “We think that political reconciliation could be greatly accelerated with economic growth. We need […]

STOCKHOLM, October 12, 2010 (AFP) – Three labour market experts, including one blocked for a top post at the US Federal Reserve, won the 2010 Nobel Economics Prize Monday for research that has had an impact on employment reforms worldwide. The Nobel jury said the work of Peter Diamond and Dale Mortensen of the United […]

Oct 11, 2010 (LBO) – Sri Lanka is “unlikely” to announce direct targeting of reserve money next year and will rely more on “traditional instruments” as the country moves gradually to target inflation directly with rates, central bank Governor Nivard Cabraal said. But under such a framework interest rates can be volatile, because the quantity […]

Oct 09, 2010 (LBO) – Planned sell-downs of two state enterprises charts a new direction in Sri Lanka’s post-war economic strategy that can make state firms more transparent and also boost capital markets, analysts said. During the year the firm had given back 4,000 billion rupees to the parent in a share-buy back, which earned […]

Oct 07, 2010 (LBO) – Growth strategies needed to improve Sri Lanka’s economic climate and raise living standards by reducing income inequality will be discussed at a conference of economists later this month, a senior economist said The annual sessions of the Sri Lanka Economic Association will cover development of physical and social infrastructure, enhancing […]

Oct 06, 2010 (LBO) – Sri Lanka made the right decision in increasing the gold component of reserve assets, Central Bank Governor Nivard Cabraal said as gold prices hit fresh highs on loose US monetary policy that is driving the dollar down as well as higher real demand. About 11 percent of the central bank’s […]

Oct 06, 2010 (LBO) – Sri Lanka has met key quantity targets in September for foreign reserves, local borrowing and money creation limits, under a deal with the International Monetary Fund, the Central Bank said. Sri Lanka has not yet released the IMF staff review of the economy was given to the board of the […]

Oct 05, 2010 (LBO ) – Sri Lanka’s large enterprises were caught napping by the end of a 30-year war, and smaller firms which required less planning were first off the mark, a senior banker has said. The central bank had said that by July 2010 loans from commercial banks to the private sector rose […]

Oct 02, 2010 (LBO) – The skills that enabled Sri Lanka win against Tamil separatists can be used to revive the economy and catch up on growth lost by 30 years of war, an architect of the military campaign said. One of the key weaknesses was lack of manpower to hold areas cleared of Tamil […]

Oct 01, 2010 (LBO) – Sri Lanka’s stocks closed up 2. 1 percent Friday becoming the best performing market in the world, up 110.9 percent so far according to Bloomberg newswires data, beating Mongolia at 109.7 percent. Bangladesh was a distant third at 56.4 percent. Colombo’s benchmark All Share Price Index closed at 7,147, topping […]

Oct 01, 2010 (LBO) – Sri Lanka’s ratings can improve if the government uses its political strength to reform the public and economic policy which would allow public debt to come down, Standard & Poor’s, a rating agency has said. Following recent electoral victories the government no longer depended on the support of “minority extremist […]