Category: Economy and Markets
Sri Lanka rupee stronger, stocks close down
Dec 21, 2012 (LBO) – Sri Lanka’s stocks closed down 0.2 percent Friday with foreign interest in key large cap stocks and the rupee extended gains for the second day, dealers and brokers said. In December the Central Bank has settled some of its bill holdings despite injecting liquidity. Analysts have said Sri Lanka has […]
US enterprises forging revolution despite state interventions: Razeen Sally in Sri Lanka
Dec 21, 2012 (LBO) – Private enterprise in the United States is transforming its economic structure using available economic freedoms despite excessive state interventions that has delayed a recovery, a top economist has said. “It intervened far too much and misguidedly at home,” Razeen Sally, a former London School of Economics professor who is now […]
Sri Lanka rupee strengthens, stocks close higher
Dec 20, 2012 (LBO) – Sri Lanka’s stocks closed 0.2 percent higher Thursday amid foreign investor interest and the rupee strengthened sharply against US dollar, brokers and dealers said. Sri Lanka’s central bank usually weakens the rupee by purchasing dollar inflows to the state. Analysts have said that with policy rates over 9.0 percent, Sri […]
Distilleries Company of Sri Lanka rated AAA(lka): Fitch
Dec 20, 2012 (LBO) – Fitch Ratings said Distilleries Company of Sri Lanka Plc, has been rated AAA(lka) with a stable outlook helped by its market leadership in spirits, steady demand and entry barriers to new entrants. “Fitch views the high and frequent increases in top-line taxes on spirits as a regulatory risk, which has […]
Sri Lanka Treasuries yields plunge
Dec 19, 2012 (LBO) – Sri Lanka’s Treasuries yields plunged at Wednesday’s auction for the second week running with the 12 month rate falling as much as 27 basis points to 12. 18 percent, data from the state debt office showed. The 3-month yield fell 21 basis points to 10.23 percent and the 6-month yield […]
‘s economy grows 4.8-pct in third quarter
Dec 19, 2012 (LBO) – Sri Lanka’s economy expanded 4. 8 percent in the third quarter of 2012 slowing from 8. 5 percent a year earlier with agriculture contracting 0.5 percent, the state statistics office said. Sri Lanka’s gross domestic product was estimated to have grown 8. 3 percent in 2011 and is expected to […]
Sri Lanka credit to business up in Oct
Dec 17, 2012 (LBO) – Sri Lanka’s credit to private businesses rose 29.5 billion rupees to 2,324.4 billion rupees in October 2012 from a month earlier as loans to state enterprises fell by 17. 3 billion rupees to 254.6 billion rupees, official data shows. Dollar credit to private business, which fell from the equivalent of […]
” after reaching $4,000 per capita income: Central Banker
Dec 17, 2012 (LBO) – Sri Lanka should be careful to have suitable policies to allow economic growth to take off after reaching a target of 4,000 US dollar per person income in 2016, a senior central banker has said. Assistant Governor C P J Siriwardene told a forum of bankers that Sri Lanka was […]
Australia to boost Sri Lanka ties to stop boatpeople
SYDNEY, Dec 17, 2012 (AFP) – Australia announced Monday plans to boost intelligence sharing with Sri Lanka to try to halt a wave of boatpeople that has seen thousands arrive illegally on its shores this year. Foreign Minister Bob Carr, who is in Colombo for a three-day visit, said he would discuss the idea during […]
Sri Lanka in an emerging world order: lecture by Razeen Sally
Dec 17, 2012 (LBO) – Razeen Sally, association visiting professor of Lee Kuan Yew School of Public Policy will speak in Colombo on December 20, Sri Lanka’s Lakshman Kadirgamar Institute for International Relations and Strategic Studies said. He will speak on the ‘Emerging World Order and Sri Lanka’s Role, at the Kadirgamar Institute at Horton […]
Sri Lanka and Mongolia forex debt ratios high: Fitch Report
Dec 17, 2012 (LBO) – Foreign currency denominated debt is expected to fall as a ratio of current receipts in except for Sri Lanka and Mongolia, where it will remain high, Fitch Ratings said in a report which tracked 12 emerging Asian nations. If the central bank then sterilizes the forex interventions with fresh money […]
‘s growth is strong but inflation and debt has to fall: IMF Rep
Dec 14,2012 (LBO) – Sri Lanka’s recent growth has been strong and ahead some of the fastest growing economies in Eastern Europe, Latin America and Asia, but inflation and national debt has to fall, IMF’s resident representative Koshy Mathai said. Economic growth in the last two year has averaged around 8. 0 percent which was […]