Category: Economy and Markets
‘s war torn image still hurting economic prospects: diplomat
July 25, 2012 (LBO) – Sri Lanka needs to improve its image overseas and promote a stable macroeconomic environment to help build bilateral trade links and attract more foreign investors, a Dutch diplomat said. Bas Van Noordenne, Netherland’s deputy head of mission in Sri Lanka told a business forum that people still associate Sri Lanka […]
Sri Lanka short term Treasuries yields ease
July 25, 2012 (LBO) – Sri Lanka’s Treasuries yields edged lower across maturities at Wednesday’s auction, with the six month yield falling most data from the state debt office showed, though longer term bond prices remained steady. The 3-month yield fell 01 basis point to 11.35 percent, the 6-month yield fell 06 basis points to […]
” call difficult: IMF rep
July 24, 2012 (LBO) – It is difficult to say whether Sri Lanka’s rupee is ‘overvalued’ and any specific level no longer matters because the exchange rate is now flexible, an International Monetary Fund’s official said. “There are models economists run to measure overvaluation of a currency,” IMF’s resident representative Koshy Mathai said. “Those models […]
Sri Lanka stock stocks fall 0.1-pct, rupee steady
July 24, 2012 (LBO) – Sri Lanka’s stocks fell 0.1 percent Tuesday with index heavy stocks losing ground but the rupee was steady in foreign exchange brokers and dealers said. The Colombo All Share Price Index closed at 4,874.36, -7.41pts and the S&P20 Index of large cap stocks fell 0.98 percent to close at 2,769 […]
Sri Lanka rupee extends gains
July 23, 2012 (LBO) – Sri Lanka’s rupee rose to 130. 90/131.05 levels against the US dollar Monday extending earlier gains with inflows as monetary policy remained in favour of a stronger rupee, dealers said. Some inflows to bond markets were also not bought the monetary authority helping keep upward pressure on a rupee peg. […]
‘s new IMF program to back longer term goals
July 23, 2012 (LBO) – A new two year program to be discussed with the International Monetary Fund will support longer term goals of the administration which may involve improving revenues, state enterprises, or keeping deficits and inflation down, officials said. Details discussions on the program will be held with the arrival of the next […]
Sri Lanka stocks down 0.13 pct
July 23, 2012 (LBO) – Sri Lanka’s stocks fell 0.13 percent Monday, with large cap stocks losing ground, brokers said. The Colombo All Share Price Index fell 6.45 points to 4,881.77 and the S&P 20 Index of large cap stocks fell 0.24 percent (06.54 points) to 2761.90. The day’s turnover of 321 million rupees was […]
Sri Lanka in talks with IMF for longer term program
July 22, 2012 (LBO) – Sri Lanka is to begin talks with the International Monetary Fund for an ‘Extended Fund Facility’ which could result in citizens getting long term economic liberties and the implementation of prudent measures to prevent economic shocks that hurt people. A reduction of state interventions in the economy in the form […]
Sri Lanka gets final IMF tranche, asked to watch inflation, state firms
July 21, 2012 (LBO) – Sri Lanka should watch inflation, the budget gap and fix energy enterprise to the economy stable in the future the International Monetary Fund has said ending a three-year bailout program. The IMF released a final 415 million US dollar tranche under a 2.5 billion US dollar bailout package, a somewhat […]
Sri Lanka stocks flat, rupee stronger
July 17, 2012 (LBO) – Sri Lanka’s stocks closed flat Friday, losing some of the gains made a day earlier while the rupee gained sharply against the US dollar, brokers and dealers said. Representatives of Sri Lanka’s stock market met President Mahinda Rajapaksa Friday. The presidential secretariat said market representatives made proposals for an upcoming […]
Sri Lanka rupee responding to policy measures: CB Governor
July 20, 2012 (LBO) – Sri Lanka’s exchange rate is responding to policy measures taken earlier in the year, Central Bank governor Nivard Cabraal said, as the rupee rose sharply against the US dollar Friday. The central bank injected 3.1 billion rupees to partially sterilize the forex sale at 9. 56 percent, below the reverse […]
Sri Lanka rupee makes steep gains
July 20, 2012 (LBO) – Sri Lanka’s rupee made steep gains against the US dollar rising as much as 131. 50/80 in late morning trade, after opening around 132. 70/133.00 levels ahead of approval of proceeds from a bond sale. The International Monetary Fund’s executive board is expected to complete the last review of a […]