Category: Economy and Markets
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 up slightly
Jan 02, 2012 (LBO) – Sri Lankan stocks were barely changed Monday with a deal in a bank in which foreigners have been selling out propping up turnover, brokers said. York Arcade Holdings was the most actively traded stock, closing at 30.40 rupees, up 5.20 with 840,700 shares done. Transactions in Hayleys also added to […]
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 […]
Sri Lanka December inflation rises to 4.9-pct
Dec 30, 2011 (LBO) – Sri Lanka’s inflation rose to 4.9 percent in December 2011 from a year ago, going up from 4. 7 percent in November 2011, the state statistics office said. Annual average inflation for 2011 was 6. 7 percent compared with 6.2 percent the year before, according to a 12-month moving average. […]
Sri Lanka stocks close down 0.3-pct
Dec 30, 2011 (LBO) – Sri Lankan stocks closed lower Friday for the second straight day, ending a four-day rally with trades in a bank in which foreigners have been selling out propping up turnover, brokers said. The main All Share Price Index fell 0.25 percent (14.96 points) to 6,074.42, while the more liquid Milanka […]
Sri Lanka finance ministry calls for higher rates, flexible rupee: report
Dec 30, 2011 (LBO) – Sri Lanka’s top Treasury official has called for higher interest rates and a rupee ‘flexible’ exchange rate to ward off balance of payments pressure, a media report said. “Definitely we need a correction on interest rates,” Treasury secretary P B Jayasundera was quoted as saying by Reuters, a news agency. […]
Sri Lanka stocks close down
Dec 29, 2011 (LBO) – Sri Lankan stocks closed lower Thursday after four days of gains with more deals in a bank dominating turnover that remained at relatively low levels, brokers said. The main All Share Price Index eased 0.07 percent (4.01 points) to 6,089.38, while the more liquid Milanka index fell 0. 19 percent […]
Sri Lanka stocks close up 1.3-pct
Dec 28, 2011 (LBO) – Sri Lankan stocks closed higher for the fourth straight day Wednesday with more deals in a bank helping to prop up turnover that fell to low levels, brokers said. The main All Share Price Index rose 1.30 percent (78.30 points) to 6,093.39, while the more liquid Milanka index rose 0.89 […]
Sri Lanka Treasuries yields head higher
Dec 28, 2011 (LBO) – Sri Lanka’s Treasuries yields edged higher at Wednesday’s auction, data from the state debt office showed. The 3-month Treasury bill yield increased 10 basis points to 8.68 percent while the six-month bills went for 8. 71 percent after bid were rejected last week. The 12-month yield increased 10 basis points […]
Sri Lanka should be prepared for slow global recovery: Razeen Sally
Dec 28, 2011 (LBO) – Sri Lanka should be prepared for a slow external environment with stimulus by deficit spending having failed in advanced economies and China and India also losing momentum, an international economist said. Both Hayek and fellow Austrian economist Ludwig von Mises had seen at firsthand what money printing, deficit spending and […]
Sri Lanka stocks close up 0.5-pct
Dec 27, 2011 (LBO) – Sri Lankan stocks closed higher for the third straight day with the main index climbing back over the 6,000 point mark and large deals in a bank accounting for most of the turnover, brokers said. The main All Share Price Index rose 0. 54 percent (32.51 points) to 6,015.09, while […]