Category: Economy and Markets
Sri Lanka stock close 0.5-pct lower
Jan 05, 2012 (LBO) – Sri Lanka stocks closed 0. 5-pct lower Thursday in thin trade, with shares weakening for the third straight day, while bond rates held steady, brokers and dealers said. The benchmark Colombo All Share Index fell 33 points to 5,939. 75 points and the Milanka Index of liquid stocks fell 27.4 […]
Sri Lanka stocks close 1.04-pct lower
Jan 04, 2012 (LBO) – Sri Lanka’s stocks fell 1.04 percent Wednesday in thin trade with steep falls in some small cap speculative stocks as the market failed to maintain the momentum seen in the last week of December, brokers said. The benchmark Colombo All Share Index fell 62.90 points (1.04 percent) to 5,972.7 points […]
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Jan 04, 2012 (LBO) – Sri Lanka is still vulnerable to external shocks given, lower than expected year-end foreign exchange reserves and needs lasting reforms to better its credit rating, Moody’s, a rating agency has said. The island must further reduce government debt and budget deficits while a rapid and lasting improvement in credit strength […]
Sri Lanka Treasuries yields flat
Jan 04, 2011 (LBO) – Sri Lanka’s Treasuries yields were flat across maturities at Wednesday’s auction the state debt office said, while bond yields fell in the secondary market, dealers said. On Tuesday, Sri Lanka’s central bank unveiled an annual monetary policy roadmap promising to keep inflation at between 5 and 6 percent in 2012. […]
Sri Lanka to target inflation explicitly in 2012: CB Governor
Jan 04, 2012 (LBO) – Sri Lanka is moving to a more explicit inflation targeting environment setting a level of 5 to 6 percent for 2012 and priority has been shifted to maintaining prices over growth, Central Bank Governor Nivard Cabraal said. “Over the last five years we actively worked on those measures,” Cabraal said. […]
Sri Lanka to assess internet, IT use in post-war census
Jan 04, 2012 (LBO) – Sri Lanka will collect information about areas like internet access in the first nation-wide household and population census to be conducted in over 30 years, an official said. A 30-year war ended in 2009 allowing the statistics office to conduct a nation-wide census. The census which is to conducted from […]
Sri Lanka to negotiate US$500mn in central bank swaps
Jan 03, 2012 (LBO) – Sri Lanka is planning to negotiate up to 500 million dollars in swaps with other central banks to bolster the island’s external position, Central Bank Governor Nivard Cabraal said. From August the Central Bank started to sterilize forex sales as interbank markets ran out of liquidity. “All the swaps will […]
Sri Lanka debt to GDP ratio falls to 78-pct: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s debt to GDP ratio had fallen to 78 percent by end-2011 from 82 percent in 2010, Central Bank governor Nivard Cabraal said. The island’s foreign exchange reserves had fallen to 6.0 billion US dollars by the end of 2011 enough to cover 4. 0 months of imports and […]
Sri Lanka to grow at 8-pct in 2012, new deal with IMF: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s economy is projected to grow at 8.0 percent in 2012 with a new deal in the offing with the International Monetary Fund, Central Bank governor Nivard Cabraal said. The island economy had grown at about 8. 3 percent in 2011, he said. In 2012 Sri Lanka is targeting […]
” program: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka will negotiate a “follow up or surveillance” program with the International Monetary Fund with a standby facility ending in December 2011, Central Bank Governor Nivard Cabraal said. Sri Lanka had a 2.6 billion US dollar stand by deal with the International Monetary Fund from May 2009 after the […]
Sri Lanka stocks close 0.7-pct weaker
Jan 03, 2012 (LBO) – Sri Lankan stocks closed weaker Tuesday in very thin turnover with two newly listed hotels among the most actively traded shares, brokers said. Both companies are part of the Citrus Leisure group and raised funds to build 150 room luxury beach resorts. John Keells Holdings was also heavily traded, closing […]
Sri Lanka expects stronger links with ASEAN: foreign minister
Jan 02, 2012 (LBO) – Sri Lanka is looking for stronger economic ties with countries in the Association of South East Asian Nations, foreign minister Gamini Lakshman Peiris said in Colombo. Sri Lanka has also started participating in the ASEAN Region Forum (ARF) to promote security in the region. ASEAN bloc has broken trade barriers […]