Category: Economy and Markets
Sri Lanka to continue relaxing exchange controls: CB governor
March 03, 2013 (LBO) – Sri Lanka will continue to liberalise foreign exchange controls to encourage the investments needed to maintain high economic growth, Central bank governor Nivard Cabraal said. “The thinking now is to try to have faster growth for which we need more savings and investment which, if not available in our own […]
”’ rating confirmed by S & P, amid warnings
Mar 01, 2013 (LBO) – Standard and Poor’s Ratings Services has confirmed a ‘B+’ sovereign rating for Sri Lanka with a ‘stable’ outlook but warned of a bloated state sector and institutions that lack transparency and independence. “We affirmed the ratings to reflect our view of Sri Lanka’s weak external liquidity, a moderately high and […]
” rating confirmed: RAM Ratings
Feb 28, 2013 (LBO) – RAM Ratings Lanka said an ‘A+’ long term and ‘P1’ short term rating of Lanka Hospital Corporation Plc, has been confirmed with a stable outlook. The firm is 54 percent owned by the state through its control by state-run Sri Lanka Insurance Corporation Plc. RAM said state support was expected. […]
Sri Lanka to double pay to graduate recruits: report
Feb 28, 2013 (LBO) – Sri Lanka will soon double the pay of around 50,000 unemployable graduates absorbed into state service to 23,000 rupees a month, a media report said.Sri Lanka’s ‘Yes FM’ a radio station, station broadcast economic development minister Basil Rajapaksa as saying in a speech that monthly allowances for the graduate trainees […]
‘s inflation 9.8-pct in February 2013
Feb 28, 2013 (LBO) – Sri Lanka’s consumer prices rose 9.8 percent in February 2013 from a year earlier, with the index rising 0.4 percent during the month, the state statistics office said. Inflation was also 9.8 percent in January. The state statistics office said food and non-alcoholic beverages rose 0.6 percent and non-food items […]
Sri Lanka Treasuries yields flat
Feb 27, 2013 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 3-months with 18.7 billion rupees in bids being accepted from the market after 15.0 billion rupees of maturing bills being offered, the state debt office said.The 3-month yield eased 01 basis point to 9.09 percent, the 6-month yield was […]
Sri Lanka stocks slide 1.1-pct, rupee held
Feb 26, 2013 (LBO) – Sri Lanka’s stocks slid 1.15 percent Tuesday amid a broad based sell-off ahead of an UN resolution over human rights later in the week and the rupee held steady with selling by a state bank, brokers and dealers said. Colombo’s benchmark All Share Index fell 66 points to 5,669.48 points […]
Sri Lanka bond yields edge up
Feb 26, 2013 (LBO) – Sri Lanka has sold 2.0 billion rupees of 5-year bonds maturing on November 15, 2018 to yield 10.97 percent, and 10-year bonds maturing on January 01, 2023 to yield 11.76 percent, the state debt office said.The 5-year bond yield was up from the last auction where a slightly shorter tenor […]
Sri Lanka should watch debt, contingent, liabilities: IMF
Feb 26, 2013 (LBO) – Sri Lanka should be careful about mounting external liabilities and reserve adequacy, with national debt already on the “high side” at over 80 percent of gross domestic product, the International Monetary Fund has said.Sri Lanka’s official debt to GDP ratio is expected to climb slightly to 81 percent in 2012 […]
Sri Lanka forum highlights risks to ocean resources
Feb 22, 2013 (LBO) – Sri Lanka’s future lies in the vast resources to be found in the ocean surrounding the island but this wealth is at risk from pollution and illegal practices, experts said. The country is on the verge of discovering oil and gas in offshore waters and its location makes it well-placed […]
Sri Lanka urban index finds prices rising 20-pct over year
Feb 21, 2013 (LBO) – An index that tracks key essential expenses of urban middle class households in Sri Lanka has found that prices rose more than 20 percent over the past year, about double that of a widely watched official index.The Capital Alliance index will maintain a fixed basket using a Laspeyres formula, named […]
Sri Lanka has to catch up on English, IT literacy: UNDP rep
Feb 20, 2013 (LBO) – Sri Lanka is losing an advantage it had in basic literacy and the use of English language with other nations catching up fast and information technology literacy becoming increasingly important, a United Nations official said.Sri Lanka had the highest literacy rate in South Asia. “But simply having a literate population […]