Category: Economy and Markets
Sri Lanka gold sales fall after tax: dealers
July 10, 2013 (LBO) – Gold purchases from dealers in Sri Lanka slowed after a 10 percent tax was imposed, despite prices falling further, industry players said.On Tuesday a gold sovereign (about 8.1 grams) the most popular benchmark price was quoted around 40,500 rupees for a 22 carats and 44,000 rupees for a 24 carats, […]
IMF cuts 2013 global growth forecast
WASHINGTON, July 9, 2013 (AFP) – The International Monetary Fund on Tuesday cut its global economic growth forecast, citing new downside risks in key emerging-market economies and a deeper recession in the eurozone.The IMF projected the world’s economy would grow 3.1 percent in 2013, down from its April estimate of 3.3 percent. China and other […]
Sri Lanka vulnerable to drop in capital inflows: Fitch
Aug 10, 2013 (LBO) – Sri Lanka was vulnerable to a drop in global capital inflows having two ‘red indicators’ related to external financing, Fitch Ratings said in a report amid global bond and forex market volatility. Government debt maturities in 2013 as a share of gross domestic product was 16.8 percent for Sri Lanka, […]
Sri Lanka expects to keep 5.8-pct deficit target in 2013: Treasury Sec
July 10, 2013 (LBO) – Sri Lanka is expecting to maintain a 5.8 percent budget deficit target with better tax revenues on the second half of 2013 and continued moderation of current expenses, Treasury Secretary P B Jayasundera said.Sri Lanka’s revenues have been hurt by slowing imports, particularly motor vehicles, but other taxes including value […]
Sri Lanka Treasuries yields ease
July 10, 2013 (LBO) – Sri Lanka’s Treasuries yields edged 02 basis points across maturities with the 12-month yield falling to 10.64 percent at Wednesday’s auction, the state debt office said.The 3-month yield also fell 02 basis points to 8.63 percent and the 6-month yield fell 02 basis points to 9.68 percent, the state debt […]
Sri Lanka fisheries, port industries eyed by Russia: biz association
July 09, 2013 (LBO) – Russian investors are looking at Sri Lanka’s fisheries, agriculture and port industries in Trincomalee, a country’s senior envoy had said in Colombo, a business association said.The Sri Lanka – Russia business council of the Ceylon Chamber quoted counselor of Russian Federation, Evgeni Sergienko, as saying at their annual general meeting […]
Sri Lanka stocks down 0.2-pct.
July 09, 2013 (LBO) – Sri Lanka’s stocks closed down 0.26 percent on Tuesday with the market down for the fifth consecutive day amid losses in index heavy stocks, brokers said. The benchmark Colombo All Share Index closed 15.48 points lower at 5,980.16 and the S&P SL 20 Index closed 03.53 points lower at 3,347.96 […]
Sri Lanka forex markets in spot next mode
July 09, 2013 (LBO) – Sri Lanka’s forex markets continued to trade in the spot-next market where settlement is three days ahead, with the spot market remaining dry for the second day running and interbank liquidity high, dealers said. In the spot market, where deals are settled two days later there were no quotes amid […]
Sri Lanka stocks down 0.8-pct
July 08, 2013 (LBO) – Sri Lanka’s stocks closed 0.68 percent lower Monday, amid losses in diversified companies and banking stocks, down 8.0 percent from a May 23 peak so far, brokers said. The benchmark Colombo All Share Index closed at 5995.64, down 52.54 points lower and the and the S&P SL 20 Index closed […]
Sri Lanka rupee weak, excess liquidity high
July 08, 2013 (LBO) – Sri Lanka rupee weakened Monday and quotes in the spot market dried up following moral suasion dealers said, as high levels of liquidity remained in money markets from a reserve ratio cut. In the spot market where trades are settled two days later, which is usually the most active segment, […]
South Asia need freer trade to have food security: policy advocate
July 5, 2013 (LBO) – South Asian countries could improve food security by avoiding export restrictions in food and increases in overall trade will also help reduce poverty, a regional policy advocate said.Banning exports of food to neighboring countries and the rest of the world whenever prices go up should be avoided, Bipul Chatterjee, deputy […]
Sri Lanka stocks down 0.4-pct
July 05, 2013 (LBO) – Sri Lanka’s stocks closed down 0.41 percent on Friday with the market down for the third consecutive day amid losses in diversified companies and banking stocks, brokers said. The Lion Brewery closed at 399.00 down 09.00 rupees and Distilleries Company closed at 190.70 rupees down 1.80 rupees. The benchmark Colombo […]