Category: Economy and Markets
US Nobel economists longtime friends, rivals
WASHINGTON, 2011 (AFP) – Christopher Sims and Thomas Sargent are friendly rivals whose careers have tracked each other’s from the time they were Harvard doctoral students to Monday’s announcement that they had both won the 2011 Nobel Economics Prize. As it happened, Sims and Sargent, both 68, were teaching a class together at Princeton University […]
Sri Lanka stocks end down 0.4-pct
Oct 10, 2011 (LBO) – Sri Lankan stocks resumed their slide Monday, after a slight rally Friday broke a thee-day fall, with a large deal in Laugfs Gas accounting for the bulk of turnover, brokers said. Renuka Agri Foods was the fourth most actively traded stock, closing at 7. 60 rupees, up 20 cents, with […]
Sri Lanka foreign reserves at US$8.05bn in August: data
Oct 10, 2011 (LBO) – Sri Lanka’s gross foreign reserves were 8,050 million US dollars by the end of August 2011, only slightly lower than the 8,098.8 million US dollars reported in July, Central Bank data showed. In August the central bank had sold 197. 6 million US dollars in foreign exchange markets to commercial […]
Sri Lanka inflation to ease; monetary stance sufficient: Deputy Governor
Oct 10, 2011 (LBO) – Sri Lanka will continue its current monetary stance with inflation expected to moderate, Deputy Central Bank Governor Dharma Dheerasinghe has said, though a signal rate edged higher with new policy tools being deployed. Sri Lanka’s 12-month inflation fell to 6.4 percent in September from 7.0 percent in August. Inflation was […]
‘s role
LONDON, October 7, 2011 (AFP) – Britain’s defence minister Liam Fox ordered an inquiry Friday into the role of a friend and self-styled adviser after claims that he influences government business despite having no official role. Fox said the “wild allegations” would be probed after confirming that he met Adam Werritty on an official visit […]
Sri Lanka stocks end up 0.3-pct
Oct 07, 2011 (LBO) – Sri Lankan stocks ended higher after three days of falls with some buyers returning but continued activity in stocks that had drawn speculators, brokers said. John Keells Holdings shares were also heavily traded, accounting for the second highest turnover, closing flat at 200 rupees. There were two crossings or off-market […]
Sri Lanka equity markets to see net inflow: Deputy CB Governor
Oct 07, 2011 (LBO) – Sri Lanka’s equity markets would see a positive inflow by the end of the year as better pricing attracts investors, deputy Central Bank governor Dharma Dheerasinghe said. So far this year Sri Lanka’s equity markets have seen a net outflow of 150 million dollars. “By the end of the year […]
‘ body offers expertise to regions
Oct 07, 2011 (LBO) – The Employers’ Federation of Ceylon, which represents Sri Lankan companies, plans to extend its services to businesses outside the capital by tying up with business chambers in the island’s outlying regions. The EFC has signed agreements with the Yarlpanam Chamber of Commerce and Industries in northern Jaffna and the southern […]
Sri Lanka should avoid destroying historical buildings: Singapore don
Oct 07, 2011 (LBO) – Sri Lanka should avoid the mistake of destroying historical buildings when cities are modernized and demand for land and real estate rises, a Singapore-based academic told a forum in Colombo. Separately an advisory board to the National Museum has written to the president saying that the boundary wall has been […]
Sri Lanka budget on November 21
Oct 07, 2011 (LBO) – Sri Lanka’s 2012 budget will be presented on November 21 with estimates being prepared with a deficit of 6.2 percent of gross domestic product and inflation at 6-7 percent. In the budgeting process, “priority has been given for the completion of ongoing development activities before allocating resources for new projects,” […]
Sri Lanka stocks end down 0.4-pct
Oct 06, 2011 (LBO) – Sri Lankan stocks closed weaker for the third straight day Thursday with interest in ‘penny’ stocks and those that had drawn speculators, brokers said. The main All Share Price Index fell 0.43 percent (28.64 points) to 6,677.84, while the more liquid Milanka index fell 0.47 percent (27.91 points) to close […]
Sri Lanka economy has to keep moving for stable society: CB Governor
Oct 06, 2011 (LBO) – Sri Lanka’s economy has to move forward without interruption to avoid unrest and instability amid turmoil around the world, Central Bank Governor Nivard Cabraal said. “The world is going through tremendous turmoil if you look at the way the economic scenario is unfolding. Cabraal told members of the Institution of […]