Category: Economy and Markets
‘s
Apr 16, 2012 (LBO) – The resumption of a loan program with the International Monetary Fund is positive for Sri Lanka’s ‘B1’ credit rating, as it will help boost investor confidence, Moody’s Investors Service said. “The disbursement is credit positive because it will help restore investor confidence and shore up foreign exchange reserves, which had […]
Sri Lanka shares end up 0.2-pct
April 16, 2012 (LBO) – Sri Lankan shares closed firmer Monday after a long weekend owing to traditional new year holidays last week with trading still at low levels and focussed on ‘penny stocks’, brokers said. The main All Share Price Index rose 0.15 percent (8.27 points) to 5,434.00, while the more liquid Milanka index […]
‘s Lagarde
Apr 13, 2012 (LBO) – The world has to restore sound public finances, while some are forced to cut deficits fast others have to do it slowly, Christine Lagarde the managing director of the International Monetary Fund has said. Lagarde said loose monetary policy (money printing) could support where inflation remains in check but emerging […]
Sri Lanka CEOonline resource centre launched
Apr 11, 2012 (LBO) – An online resource centre with the participation of prominent business leaders, chief executives, academics and economists has been launched in Sri Lanka allowing readers to interact with them and share ideas. portal (www.ceoonline.lk) allows readers to reach more than 50 senior corporate executives, academics and researchers who serve as honorary […]
Sri Lanka state enterprises urged to adopt market pricing
April 11, 2012 (LBO) – Sri Lanka’s central bank has called on loss-making state enterprises to ensure financial viability by better management and market pricing to reduce reliance on the budget and borrowings that cause macro-economic problems. It said that in 2011, policy measures were initiated by the government to improve the performance of SOEs […]
Sri Lanka shares end up 0.6-pct
April 11, 2012 (LBO) – Sri Lankan shares closed firmer Wednesday although trading remained low ahead of traditional new year holidays later in the week, brokers said. The main All Share Price Index rose 0.62 percent (33.39 points) to 5,425.73, while the more liquid Milanka index rose 0.65 percent (31.57) to close at 4,909.30. Turnover […]
Sri Lanka rupee weakens in intra-day trade
Apr 12, 2012 (LBO) – Sri Lanka’s rupee dipped close to 130 to the US dollar after opening around 127. 80/128.20 in the spot market, amid buying from foreign banks, dealers said. . The rupee was quoted as low as 129.50/130.00 in late morning trade but gained later with demand falling off, dealers said. Sri […]
Sri Lanka shares becalmed
April 10, 2012 (LBO) – Sri Lankan shares closed almost stagnant Tuesday with trading still at low levels ahead of traditional new year holidays later in the week, brokers said. Swarnamahal Financial Services was the most actively traded stock, closing at 8. 80 rupees, up 30 cents while Piramal Glass was also actively traded, ending […]
Sri Lanka aims at forex reserves of 4.5 months of imports: CB Governor
Apr 10, 2012 (LBO) – Sri Lanka would aim to maintain foreign reserves equal to 4. 5 months of imports with balance of payments surplus of 1.2 billion US dollars projected for 2012, Central Bank Governor Nivard Cabraal said. “A level of 4.5 months (of imports) is comfortable,” Cabraal told reporters. “If it goes down […]
Sri Lanka unemployed down to 4.2-pct: data
Apr 10, 2012 (LBO) – Sri Lanka’s unemployment fell to 4.2 percent in 2011 from 4.9 percent a year earlier with more people being employed in agriculture and industry, official data showed. The Central Bank quoting a survey by the statistics office said total unemployed fell to 342,000 from 401,000 a year earlier. People working […]
Sri Lanka Treasuries yields up after rate hike
Apr 09, 2012 (LBO) – Sri Lanka’s Treasury bill yields rose more than 50 basis points across maturities following a rate hike at Monday’s auction held two days earlier due to traditional holidays later in the week, data from the debt office showed. Higher Treasury bill yields are needed to correct an imbalance in the […]
Sri Lanka revenue crunch continues in 2012
Apr 09, 2012 (LBO) – High state spending is continuing to put pressure on the economy with billions of rupees being printed in April to meet expenses on top of earlier bank borrowings, official data shows. In countries with more stable currency pegs, such as Hong Kong or Singapore, seasonal cash demands are met, not […]