Category: Economy and Markets
Sri Lanka gold imports surge to U$600mn in 2011
Jan 05, 2012 (LBO) – Sri Lankans have spent a record 600 million dollars of gold in 2011 up more than seven times from the 82 million US dollars a year, the central bank said, as demand and prices for the precious metal rose. Before the creation of the Federal Reserve Bank gold was just […]
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 village producers helped by Japanese volunteers
Jan 05, 2012 (LBO) – A team of Japanese volunteers had helped village level producers to develop new products and upgrade designs to get higher prices, the Japan International Co-operation agency said. Three volunteers had worked with the island’s Samurdhi Authority, a poverty alleviation agency, to help families in several areas. These volunteers had helped […]
” rating confirmed: RAM
Jan 05, 2012 (LBO) – Ram Ratings has confirmed an ‘A’ long term rating of Sri Lanka’s Tokyo Cement Plc, on its market share and healthy balance sheet but said the industry was cyclical and the firm was not able to immediately pass on costs. Tokyo Cement has grinding plants and shares half the market […]
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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 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 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 […]
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 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 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 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 […]