Category: Economy and Markets
Sri Lanka overnight rates head higher amid peg defence
Oct 04, 2011 (LBO) – Sri Lanka’s short term interest rates are heading higher as liquidity tightens in money markets and policy contradictions in forex and money markets begin to bite, dealers said. The weighted average overnight rate in the repo market, where banks and primary dealers of Treasuries sell money to each other collateralized […]
Sri Lanka stocks end flat
Oct 03, 2011 (LBO) – Sri Lankan stocks closed virtually flat Monday, unmoved by Sunday’s announcement of an offshore natural gas strike that could benefit firms with shipping businesses and meet local energy needs, brokers said. Regnis (Lanka), another stock which has drawn speculators, closed at 488.80 rupees, up 68.50 rupees. The main All Share […]
Japan urges Sri Lanka post-war reconciliation, reconstruction
Oct 03, 2011 (LBO) – Sri Lanka should continue reconciliation and reconstruction efforts in the former war-torn regions, Japan’s envoy to Colombo said after giving more funds for de-mining. Japan’s envoy to Colombo Kunio Takahashi gave a grant of 780,000 US dollars (85 million rupees) for demining in the Sri Lanka’s north. Ambassador Kunio said […]
Sri Lanka business forum to be addressed by Vietnam President
Oct 01, 2011 (LBO) – Visiting Vietnam President Truong Tan Sang will address a business forum in Sri Lanka’s capital Colombo, where a high level delegation of Vietnamese businessmen will also be taking part, the island’s largest trade chamber said. “They are also interested in tourism projects such as eco-tourism, spiritual tourism, inbound and outbound […]
Sri Lanka gets flood rebuilding aid from Japan
Sept 30, 2011 (LBO) – Japan is helping Sri Lanka rebuild flood damaged roads and irrigation networks and strengthen capacity to cope with future disasters through a seven billion yen (9. 0 billion rupee) project the country’s aid agency said. Japan International Co-operation Agency (JICA) which administers Japanese aid said a concessionary loan was agreement […]
Sri Lanka inflation eases to 6.4-pct in September
Sept 30, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo slowed to 6. 4 percent in September from 7.0 percent in August, though the index itself gained 0.3 percent during the month, the state statistics office said. International commodity prices have eased in recent weeks. Food and non-alcoholic beverages rose 0. 1 percent […]
Sri Lanka stocks end up 0.5-pct
Sept 30, 2011 (LBO) – Sri Lankan stocks closed firmer Friday for the second day running in speculative trade and price curbs being imposed on Singer Industries (Ceylon) after it rose sharply, brokers said. There was a sole crossing or off-market private deal of 800,000 shares of Lanka Orix Leasing Company at 99 rupees each. […]
Sri Lanka bonds unmoved by lower inflation
Sept 30, 2011 (LBO) – Sri Lanka’s bond markets closed unchanged despite 12-month inflation falling to 6.4 percent from 7.0 percent a month earlier, as liquidity tightened amid defence of a dollar peg, dealers said. A widely traded bond maturing in 2015 was quoted at 8.69/72 percent Friday and 2016s were quoted at 8.80/84 percent, […]
Maldives and Sri Lanka police bust bank card fraud: report
Sept 30, 2011 (LBO) – Police in Maldives and Sri Lanka have arrested five in an international fraud involving forged cash and credit cards related banks in New Zealand, Canada, Australia, China and France, a media report said. Minivan News, a Maldives based online news service quoting police inspector Mohamed Riyaz said two Maldivian nationals […]
”: New York mayor
NEW YORK, September 28, 2011 (AFP) – Visa policies that keep skilled workers from settling in the United States amount to “national suicide,” New York Mayor Michael Bloomberg said Wednesday. “These businesses will hire American workers, and immigrants are more than twice as likely as those born in America to start a new company,” he […]
Sri Lanka to close prisons for commercial development
Sept 29, 2011 (LBO) – Sri Lanka will shift several prisons in prime city centres including the capital Colombo to make way for commercial development, minister Keheliya Rambukwelle said. Matara and Galle prisons will be shifted to Pitabeddara in the Matara district. The cabinet of ministers had approved a proposal by the prison reforms ministry […]
Sri Lanka had BOP surplus by end July: Central Bank
Sept 29, 2011 (LBO) – Sri Lanka had recorded a balance of payments surplus of 1,006 million US dollars by July 2011, with official foreign reserves climbing to 8,099 million US dollars, the Central Bank said. Foreign inflows to the state, including a billion dollar sovereign bond was 2,754 million US dollars and foreign direct […]