Category: Economy and Markets
Sri Lanka Treasuries yields up
Oct 19, 2011 (LBO) – Sri Lanka’s Treasuries yields moved up across maturities at Wednesday’s auction with only 6. 8 billion rupees of bids being accepted from the market following an offer to sell 12. 0 billion rupees in bills. Sri Lanka’s interest rates have been moving up amid defence of a dollar peg and […]
Sri Lanka raises defence spending
October 18, 2011 (AFP) – Sri Lanka on Tuesday announced it would raise defence spending by over five percent in 2012, more than two years after the government ended a decades-long ethnic conflict with Tamil rebels. President Mahinda Rajapakse, who is also finance minister, is due to unveil the full 2012 budget on November 21, […]
Sri Lanka stocks down 1.07-pct
Oct 18, 2011 (LBO) – Sri Lanka stocks extended losses Tuesday closing 1.07 percent lower on the back of a 1.4 percent retreat Monday amid weak buying support, brokers said. The benchmark Colombo All Share Index lost 68.99 points to close at 6,389.52 and the Milanka Index of liquid stocks fell 1.36 percent (79.09 points) […]
Protesters camp in London, Frankfurt after clashes
LONDON, October 16, 2011 (AFP) – Hundreds of protesters camped out in London, Frankfurt and Amsterdam on Sunday, with some vowing to settle in for the long term as part of their campaign against corporate greed and budget cuts. The three camps, each of them in the heart of the cities’ financial districts, sprang up […]
Anti-capitalist protests spread as predicted by Austrian school
Oct 17, 2011 (LBO) – Anti-capitalist protests have spread to several European capitals from the US, with protestors converging on financial districts, in a text book style consequence of excessive state interference, long predicted by Austrian economists. The US in particular is suffering from the collapse of a massive credit expansion fired by easy money […]
Sri Lanka stocks slump 1.4-pct
Oct 17, 2011 (LBO) – Sri Lanka’s stocks slumped 1.4 percent Monday with several illiquid stocks that were punted up falling steeply while liquid stocks also suffered losses, brokers said. In forex markets the spot dollar traded at 110. 20/choice dealer said. The central bank had a repo auction to withdraw 30 billion in excess […]
” development nears kick off: official
Oct 14, 2011 (LBO) – Work on a ‘linear park’ for recreation and night life bordering Beira Lake in Sri Lanka’s capital Colombo will begin early in 2012, a senior urban development official said. Its own building which was housed in the area would be made available for development as a 12-acre block after shifting […]
Sri Lanka and Vietnam ink oil deals
Oct 14, 2011 (LBO) – Sri Lanka and Vietnam can expand trade and investment in petroleum, telecoms, agricultural machinery and fisheries, visiting Vietnam President Truong Tan Sang told a business forum in Colombo. Sri Lanka’s state-run Ceylon Petroleum Corporation also signed a deal on diesel trade with PetroVietnam’s Singapore arm. President Sang said bilateral meetings […]
Sri Lanka spending to be upped 15-pct in 2012: preliminary data
Oct 14, 2011 (LBO) – Sri Lanka plans to spend 1,640 billion rupees in capital and current expenditure in 2012 up 15.5 percent from a year earlier, preliminary data released by the finance ministry showed. It leaves the state with a deficit of 525 billion rupees. However government spokesmen had said earlier that in 2012 […]
Sri Lanka stocks end down 0.3-pct
Oct 13, 2011 (LBO) – Sri Lankan stocks fell again Thursday with heavy losses in selected shares on very thin trade with the market falling sharply after opening but recovering towards the end, brokers said. The main All Share Price Index fell 0.28 percent (18.24 points) to 6,585.99, while the more liquid Milanka index rose […]
Sri Lanka urban agency to offer land in former war-zones
Oct 12, 2011 (LBO) – Sri Lanka’s Urban Development Authority which was focussing on the capital Colombo will offer state lands in former war-zones for commercial development, director general Rohan Fernando said. “Now we are making arrangements to provide lands from Mankulam, Kilinochchi and Jaffna,” he told a forum on property development at the Central […]
Sri Lanka stocks end down almost one percent
Oct 12, 2011 (LBO) – Sri Lankan stocks fell almost one percent Wednesday and turnover was also lower than usual with sharp falls in some shares that had risen sharply in recent weeks, brokers said. The main All Share Price Index fell 0.97 percent (64.81 points) to 6,604.23, while the more liquid Milanka index fell […]