Category: Economy and Markets
Yellen says printing to continue, denies bubble charges
WASHINGTON, November 14, 2013 (AFP) – Janet Yellen, the White House nominee to lead the Federal Reserve, said Thursday that the central bank’s stimulus must remain in place to bolster an economy where growth remains fragile. Staking out her support for policies crafted by current chairman Ben Bernanke, Yellen, the Fed vice chair, told senators […]
Sri Lanka foreign reserves at US$7.0bn in September
Dec 15, 2013 (LBO) – Sri Lanka’s foreign reserves eased to 7.0 billion US dollars in September 2013 from 7.5 billion US dollars in August, official data showed. This year Sri Lanka has to repay about 500 million US dollars to the IMF which are made directly out of foreign reserves of the Central Bank. […]
Sri Lanka exports up 11-pct in September
Nov 15, 2013 (LBO) – Sri Lanka’s exports rose 11 percent to 890 million US dollars with apparel exports surging 27 percent to 386 million US dollars amid a recovery in US and European markets, the Central Bank said. Apparel exports rose 30.7 percent to the US and 27.7 percent to the EU. Rubber product […]
Calls for travel and food freedoms at Sri Lanka Commonwealth meet
Nov 15, 2013 (LBO) – The Commonwealth was home to half the world’s hungry and their pain can be eased by freeing access to food, Australian Prime Minister Tony Abbot said at a summit meeting in Sri Lanka, while a top official called for greater travel freedoms.The Commonwealth is made up of countries in the […]
Sri Lanka stocks close down 0.3-pct
Nov 15, 2013 (LBO) – Sri Lanka stocks closed lower in a broad sell-off with consumer goods and diversified stocks losing ground, brokers said. Ceylinco Insurance closed 69.60 rupees higher at 1,333.20 rupees and Ceylon Tobacco Company closed 5.00 rupees higher at 1,055.00 rupees. Dialog closed 10 cents higher at 9.10 rupees and Sri Lanka […]
Sri Lanka stocks close up 0.2-pct
Nov 14, 2013 (LBO) – Sri Lanka stocks closed higher helped by food and hotel firms, brokers said. Commercial Bank closed 10 cents higher at 113.00 rupees and Cargills Ceylon closed 3.00 rupees higher at 150.00 rupees. Distilleries closed flat at 184.00 rupees. HNB closed 10 cents lower at 144.90 rupees and Sampath Bank closed […]
Sri Lanka stocks close down 0.8-pct
Nov 13, 2013 (LBO) – Sri Lanka stocks closed 0.85 percent lower with tobacco and diversified stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 49.98 points lower at 5,812.84, down 0.85 percent. The S&P SL20 closed 39.70 points lower at 3,190.66, down 1.23 percent. Turnover was 579.86 million rupees, up […]
Sri Lanka Treasuries yields ease
Nov 13, 2013 (LBO) – Sri Lanka’s Treasuries yields eased at Wednesday’s auction with the 12-month yield down 3 basis points to 9.79 percent, data from the state debt office showed.The 6-month yield was down 5 basis points to 8.89 percent. There were no sales of 3-month bills. The debt office said 415 million rupees […]
Sri Lanka stocks close flat
Nov 13, 2013 (LBO) – Sri Lanka stocks closed flat despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 3.20 points higher at 5,816.04, up 0.06 percent. The S&P SL20 closed 12.38 points lower at 3,178.28, down 0.39 percent. Turnover was 710.41 million rupees, up from 579.86 million rupees a […]
Sri Lanka Commonwealth biz forum begins today
Nov 12, 2013 (LBO) – A three day Commonwealth business forum kicks off today where investment prospects of Sri Lanka and several countries will be showcased and emerging trends in Asia and Africa will come under the spotlight.President Mahinda Rajapaksa will inaugurate the sessions with a keynote address. The first session chaired Rahul Bajaj, chairman […]
Sri Lanka Commonwealth biz forum can create wealth, cut poverty: President Rajapaksa
Nov 12, 2013 (LBO) – A Commonwealth business forum in Colombo can forge new partnerships that can create wealth and reduce poverty, Sri Lanka’s President Mahinda Rajapaksa said. Sri Lanka has seen strong economic growth thanks to pragmatic policies, and there was a strategy to go forward making the country an economic hub, he said. […]
Sri Lanka Commonwealth Biz forum the largest ever
Nov 12, 2013 (LBO) – A Commonwealth Business Forum underway in Sri Lanka’s capital Colombo is the largest in the history of the organization, and can be an opportunity to solve employment and skills challenges, officials said.Sri Lanka after the end of a 30-year war presents opportunities for investment as it strives to be an […]