Category: Economy and Markets
Sri Lanka inflation jumps to 5.5-pct in March
Mar 30, 2012 (LBO) – Inflation in Sri Lanka’s capital Colombo accelerated to 5.5 percent in the 12 months to March 2012 up from 2.7 percent in February with the index growing 2. 2 percent in the month, statistics office data showed. Food prices remained stable with the foods index growing just 0. 1 percent […]
” for Indian investment
Mar 30, 2012 (LBO) – Indian companies are keen to invest in Sri Lanka with the island’s Expo 2012 international trade drawing a large group of Indian businessmen, the High Commission of India said. The commitments were made during talks between a visiting team from the Confederation of Indian Industry and Sri Lankan commerce and […]
Sri Lanka shares end up 0.4-pct
Mar 30, 2012 (LBO) – Sri Lankan shares closed slightly firmer Friday in somewhat choppy trade, brokers said. The main All Share Price Index rose 0. 35 percent (19.05 points) to 5,431.09, while the more liquid Milanka index fell 0. 13 percent (6.52) to close at 4,897.54. Turnover was 789 million rupees, according to stock […]
Sri Lanka shares becalmed
Mar 29, 2012 (LBO) – Sri Lankan shares were barely changed Thursday with some interest seen in financial services and trading volumes picked up from low levels, brokers said. The main All Share Price Index fell 0. 09 percent (4.78 points) to 5,411.79, while the more liquid Milanka index rose 0.52 percent (25.60) to close […]
Sri Lanka rupee gains after opening
Mar 29, 2012 (LBO) – Sri Lanka’s rupee gained against the greenback Thursday to strengthening to as much as 128. 25/50 rupees after opening at 129. 30/40 levels, dealers said. The rupee also closed stronger Wednesday, at 129. 30/40 levels after opening weaker at 129. 80/130.00 rupees against the US dollar. Sri Lanka has upped […]
Sri Lanka rupee strengthens as credit weakens
Mar 29, 2012 (LBO) – Sri Lanka’s rupee closed at 127. 75/85 against the US dollar after opening at 129.30/40 dealers said, with data indicating that a credit bubble which put pressure on the peg is breaking. Rupee liquidity from dollar purchases has risen from 6.7 billion rupees on March 14 to 26 billion rupees […]
Sri Lanka, Vietnam economic potential explored
Mar 28, 2012 (LBO) – Greater co-operation between Sri Lanka and Vietnam will be examined in an economic forum on March 30, with the participation of economists and government officials Friday. After people’s property rights were improved and market prices were freed Vietnam became the world’s second largest rice exporter from being a net rice […]
Sri Lanka gets Japanese loan for airport expansion
Mar 28, 2012 (LBO) – Japan has given Sri Lanka a loan of 42 billion Yen (about 66 billion rupees) with the bulk of it meant for expanding the island’s sole international airport, a Japanese embassy statement said. “The loans under this scheme are offered on highly concessionary terms and conditions and are administered by […]
Sri Lanka Treasuries yields up
Mar 28, 2012 (LBO) – Sri Lanka’s Treasury bill yields rose across maturities at Wednesday’s auction, though only a part of the 10 billion rupees of bills offered was sold through the auction, the state debt office said. The debt office, which is a unit of the Central Bank, said 3-month yields rose 25 basis […]
Sri Lanka shares end down 0.2-pct
Mar 28, 2012 (LBO) – Sri Lankan shares closed weaker Wednesday with some interest seen in conglomerates although trading volumes were low, brokers said. The main All Share Price Index fell 0.15 percent (8.07 points) to 5,428.01, while the more liquid Milanka index rose 0.50 percent (24.22) to close at 4,888.39. Turnover was 627 million […]
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Mar 27, 2012 (LBO) – A top Japanese economist has warned Sri Lanka of continuing a ‘subsidy culture’ that could retard growth and also of letting slip opportunities for closer trade ties with neighbouring India. Shinji Asanuma, a professor in the school of international and public policy, Hitotsubashi University said Sri Lanka’s economic growth provided […]
Sri Lanka forex reserves down 28-pct in Jan
Mar 27, 2012 (LBO) – Sri Lanka’s forex reserves fell 28 percent to 5,806 million dollars in January 2012, from a peak of 8,098 million US dollars reached in July 2011, around the time a balance of payments crisis started, official data showed. The currency board had helped keep inflation low and allowed Sri Lanka […]