Category: Economy and Markets
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, 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 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 […]
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 […]
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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 […]
Sri Lanka warns of threat to EU market access
Mar 26, 2012 (LBO) – Sri Lanka’s exports to Europe are growing despite recession there but its markets could be threatened by easier access given to competing export nations, an official said. Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka, said in 2011, Sri Lanka exported 3. 6 billion US dollars worth of […]
Sri Lanka exports fall in January, trade gap up
Mar 26, 2012 (LBO) – Sri Lanka’s exports fell 0. 6 percent to 917.7 million US dollars in January 2012 from a year earlier with a sharp drop in tea, while industrial exports grew at a sluggish 3. 3 percent, while imports powered ahead, official data showed. Exports Last year, Sri Lanka’s exports grew 22.4 […]
Sri Lanka shares end up 0.4-pct
Mar 26, 2012 (LBO) – Sri Lankan shares closed firmer Monday with an increase in trading by foreign investors who ended up as net sellers, brokers said. The main All Share Price Index rose 0. 37 percent (20.29 points) to 5,442.62, while the more liquid Milanka index rose 0.56 percent (27.21) to close at 4,875.07. […]
Sri Lanka told proper economic management key to prosperity
Mar 25, 2012 (LBO) – Proper economic management is the key to prosperity, not whether a country is resource-rich or poor, a top Japanese economist has told Sri Lanka. Price stability is also necessary for development and should be considered a priority by policymakers, said Hirohisa Kohama, professor in the faculty of international relations, the […]
Sri Lanka mulls 10-yr sovereign bond
Mar 23, 2012 (LBO) – Sri Lanka is considering issuing a 10-year sovereign bond when its debut 500 million five-year dollar bond matures this year, Treasury secretary P B Jayasundera said. The debut bond was meant to help the private and banks go for longer maturity funding, he told a news conference. The treasury is […]