Category: Economy and Markets
Sri Lankan stocks end losing streak
May 14, 2012 (LBO) – Sri Lankan share prices on Monday edged up after nine straight days in the red, largely driven by buying interest in oil palm stocks, brokers said. Monday’s turnover was dominated by conglomerate John Keells Holdings PLC, which has investments in leisure, financial services, IT and transport. JKH, the largest capitalised […]
Sri Lanka year-end inflation targeted at below 7-pct
May 13, 2012 (LBO) – Sri Lanka’s central bank is targeting average inflation to be around 6-7 percent and is expecting year end inflation at 7. 0 percent or below Central Bank governor Nivard Cabraal said. While the so-called ‘annual average inflation’, is a number averaged over two years and is difficult for ordinary people […]
Sri Lanka policy rates unchanged
May 11, 2012 (LBO) – Sri Lanka’s central bank its key policy rate unchanged at 9. 75 percent saying monetary conditions are tightening and credit growth will moderate. The full statement is reproduced below In April 2012, year-on-year inflation as measured by the CCPI (base=2006/2007) was 6.1 per cent while annual average inflation was 5. […]
Sri Lanka monetary conditions tightening: Central Bank
May 11, 2012 (LBO) – Sri Lanka’s central bank kept its key policy rate unchanged at 9. 75 percent saying monetary conditions are tightening and credit growth will moderate, eventually helping the exchange rate. The March loan totals may include possible forex losses on dollar loans. “With respect to monetary developments, market interest rates have […]
Sri Lanka Treasuries edge up
May 09, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction with 11. 9 billion rupees of bills being sold to market bidders, the state debt office said. The 3-month yield rose 09 basis points to 12. 19 percent, the 6-month yield rose 10 basis points to 12. 30 percent and […]
Sri Lanka to work out surveillance deal with IMF: CB Governor
May 08, 2012 (LBO) – Sri Lanka will work out a surveillance program with the International Monetary Fund to boost investor confidence after a current deal with the agency ends in July 2012, Central Bank Governor Nivard Cabraal said. “Thereafter the type of relationship we will have with them is something we will have will […]
Sri Lanka income taxes have to be paid by all: Treasury secretary
May 07, 2012 (LBO) – Amid pressure from a parliamentary committee for remaining workers of state-enterprises to pay income taxes, finance ministry secretary P B Jayasundera has said all persons must get used to paying taxes. Jayasundera said even a person earning 200,000 a month only paid about 10 percent in tax and the average […]
‘s forex reserves fal to US$5.5bn in Feb 2012: data
May 6, 2012 (LBO) – Sri Lanka’s foreign reserves fell to 5,552 million US dollars at the end of February 2012, down 32 percent from a peak of 8,098 million US dollars in July 2011, official data shows. Sri Lanka’s reserves fell steeply during the second half of 2011 credit taken by state enterprises to […]
Sri Lanka exports grow 7.6-pct in Feb
May 04, 2012 (LBO) – Sri Lanka’s exports grew 7. 6 percent from a year earlier to 878 million US dollars in February 2012 with tea exports falling and apparels barely growing, while imports powered ahead, official data showed. In the first two months of the year exports grew only 3. 3 percent to 1.79 […]
Sri Lanka hikes prices of cooking gas, milk powder, cement
May 4, 2012 (LBO) – Sri Lanka on Friday raised prices of cooking gas, milk powder and cement, after a weak rupee, tax hike and higher energy prices raised costs. The price of a 12.5 kilo liquefied petroleum gas cylinder goes up by 350 rupees to 2,396 rupees from midnight Friday, Internal Trade Minister Johnston […]
Sri Lankan shares weak
May 4, 2012 (LBO) – Sri Lankan share prices closed the week in the red on Friday, with large trades in conglomerate John Keells Holdings and computer parts vendor, PC House, brokers said. Colombo’s 240-tracker All Share Price Index slipped 7.33 points or 0.13 percent to close at 5,382.14, while the liquid Milanka Price Index […]
” ratings confirmed: Fitch
May 04, 2012 (LBO) – Sri Lanka has to persist with reducing its budget gap and tighten monetary policy further if needed to ward off balance payments pressure, Fitch Ratings which confirmed a sovereign rating at ‘BB-‘ said. The outlook on the rating was ‘stable’. “The ratings reflect Fitch’s view that the authorities have taken […]