Category: Economy and Markets
Sri Lanka inflation eases to 4.7 percent
Nov 30, 2011 (LBO) – Sri Lanka’s inflation rose to 4. 7 percent in November 2011 from a year earlier decelerating from 5. 1 percent in October, but prices rose 0.7 percent during the month, the state statistics office said. Central Bank Governor Nivard Cabraal has said that policy rates will be kept steady in […]
Sri Lanka stocks rally loses steam
Nov 29, 2011 (LBO) – Sri Lanka’s main share index closed slightly weaker Tuesday after a morning rally on the back of Monday’s surge in prices lost steam on profit-taking, brokers said. The main All Share Price Index fell 0.04 percent (2.16 points) to 6,020.08, while the more liquid Milanka index rose 0.26 percent (13.39 […]
Sri Lanka forum in push for South Asian migration action
Nov 28, 2011 (LBO) – A unified South Asian institutional framework to handle migration issues would help improve the status of millions of expatriate workers and combat human trafficking, economists and officials said. Richard Denziger, chief of mission of IOM Sri Lanka said a regional consultative process would bring together governments and international organizations for […]
Sri Lanka stocks end up 3.6-pct
Nov 28, 2011 (LBO) – Sri Lankan shares closed sharply higher Monday with the main index jumping back over 6,000 points on optimism a meeting between stockbrokers and President Mahinda Rajapaksa could yield a relaxation of credit rules and price restrictions. Environmental Resources Investments warrants W0003 were the highest gainer of the day, closing at […]
Sri Lanka stops repo auctions to stabilize rates
Nov 28, 2011 (LBO) – Sri Lanka’s Central Bank will stop repo auctions which drained money at rates higher than a 7. 00 percent standing facility and also allow banks to swap dollars for cash to stabilize money markets, an official said. “We are stopping the repo auctions,” Deputy Governor Dharma Dheerasinghe said. The repo […]
Sri Lanka to keep pat on rates to curb credit: CB Governor
Nov 28, 2011 (LBO) – Sri Lanka will maintain its policy rates and maintain reserve ratios for the moment despite falling inflation in a bid to curb credit, Central Bank Governor Nivard Cabraal said. The rupee has come under pressure from excessive credit growth in recent months and there have been steady interventions in forex […]
Sri Lanka, Malaysia partners to promote Islamic banking, bonds
Nov 26, 2011 (LBO) – Sri Lanka’s Wealth Lanka Management (Pvt) Ltd, an investment house, and Al Tayseer Advisory Services Sdn. Bhd a Malaysia based consultancy has linked up to provide Islamic banking and bond market instruments, officials said. The firm advices on Islamic banking and corporate finance and advisory services for specialist industries like […]
Sri Lanka food processing, education, heath interests UAE: visiting minister
Nov 25, 2011 (LBO) – Sri Lanka’s food processing, education and health sectors and business process outsourcing sectors are of interest to the United Arab Emirates, visiting minister of foreign trade Lubna Al Qasimi has said. Minister Bathiudeen said Sri Lanka has free and preferential trade agreements with India and Pakistan and South Asia giving […]
Sri Lanka signal rate up
Nov 25, 2011 (LBO) – An effective signal interest rate in Sri Lanka has edged up over 30 basis points over the week with the monetary authority withdrawing excess liquidity through a cash auction a higher rate. The 3-month auction Treasury bill rate which is controlled by the monetary authority increased 44 basis points to […]
Sri Lanka stocks end down one-pct
Nov 25, 2011 (LBO) – Sri Lankan shares fell further Friday, following Thursday’s crash below the 6,000 point mark, with a trading halt caused by an error trade jolting investors already unnerved by uncertainty and margin calls, brokers said. The main All Share Price Index fell 1.04 percent (60.99 points) to 5,805.76, while the more […]
‘s top lender
Nov 23, 2011 (LBO) – China has emerged as the top lender to Sri Lanka in the nine months to September 2011, in terms of money actually disbursed and loans committed for new projects, finance ministry data shows. Up to September 2011, China has disbursed 599. 9 million US dollars out of a total of […]
Sri Lanka proceeds with expropriations
Nov 24, 2011 (LBO) – Sri Lanka has appointed competent authorities, a ministerial committee and a three member compensation committee to deal with 37 expropriated assets and enterprises. It is made up of foreign employment minister Dilan Perera, minor export crop promotion minister Reginald Cooray, productivity promotion minister Lakshman Seneviratne, deputy finance minister Geethanjana Gunawardena. […]