Category: Economy and Markets
Sri Lanka stocks end down 0.4-pct
Sept 28, 2011 (LBO) – Sri Lankan stocks closed weaker Wednesday after being stagnant for two days on rather thin turnover, brokers said. The main All Share Price Index fell 0.40 percent (27.01 points) to 6,710.67, while the more liquid Milanka index fell 0.47 percent (28.21 points) to close below the 5,000 mark at 5,999.28, […]
Germany hits out at US as Greece vows action on debt
BERLIN, September 27, 2011 (AFP) – Germany told the United States Tuesday to stop pointing the finger at Europe for its own economic ills while debt-hit Greece promised to do its utmost to avert a financial meltdown in the eurozone. Elsewhere in the German capital, Greek Prime Minister George Papandreou insisted that Athens was pulling […]
Sri Lanka stocks becalmed
Sept 27, 2011 (LBO) – Sri Lankan stocks were becalmed for the second day Tuesday with turnover also lower than usual amind continued trade in shares that had drawn speculators, brokers said. The main All Share Price Index rose 0.02 percent (1.43 points) to 6,737.45, while the more liquid Milanka index rose 0.03 percent (1.77 […]
Sri Lanka rule of law seen key factor in luring investors
Sept 27, 2011 (LBO) – Sri Lanka must ensure that rule of law is maintained especially in commerce if it wants to be considered attractive to foreign investors, an economist said. Indrajit Coomaraswamy, former director of economic affairs at the Commonwealth Secretariat in London, said foreign investment has not picked up as anticipated despite the […]
More stimulus wrong answer to crisis: Merkel
BERLIN, September 27, 2011 (AFP) – German Chancellor Angela Merkel hit back Tuesday at those, including the United States, urging Europe to introduce new economic stimulus packages to boost demand and spend its way out of the crisis. “We need to combine economic growth with solid public finances … we are not in favour of […]
Sri Lanka bonds volatile, CB Treasuries top Rs50bn
Sept 26, 2011 (LBO) – Sri Lanka’s bond yields ended lower after seeing unusual volatility dealers said, while the rupee continued to be defended at 110.30 to the dollar in the spot market, dealers said. Sri Lanka’s interest rates have started to move after sustained defence of a dollar peg reduced excess liquidity in money […]
Sri Lanka stocks stagnant
Sept 26, 2011 (LBO) – Sri Lankan stocks were barely changed Monday and turnover was also lower than usual with heavy trade in shares that had drawn the interest of speculators, brokers said. The main All Share Price Index rose 0.02 percent (1.42 points) to 6,736.02, while the more liquid Milanka index rose 0. 03 […]
IMF to increase resources to more than $1 trillion: report
BERLIN, September 25, 2011 (AFP) – The International Monetary Fund may be hoping to increase its financial resources from $940 billion to at least $1.3 trillion, according to a newspaper report out Monday. German daily the Frankfurter Allgemeine Zeitung said two “models” were currently being examined to up the IMF’s resources, without stating its source. […]
Sri Lanka export shift to Asia seen difficult
Sept 26, 2011 (LBO) – Sri Lankan exporters face difficulties in trying to shift from traditional markets in the West which are stagnant or growing only slowly to fast-growing emerging markets in Asia, an official said. “It’s not going to be easy,” said Anura Ekanayake, former chairman of the Ceylon Chamber of Commerce, the island’s […]
Sri Lanka IMF talks continuing on stalled review
Sept 25, 2011 (LBO) – Discussions are continuing with Sri Lanka on a periodic review under an International Monetary Fund bailout program which has supported the island’s policies aimed at restoring stability and growth, a top IMF official said. “We will continue these discussions for the coming review, while they (Sri Lanka’s delegation) are here […]
Sri Lanka has cut deficit spending, lowered inflation: monetary minister
Sept 25, 2011 (LBO) – Sri Lanka has reigned in deficit spending, allowing inflation and interest rates to ease, giving space for people to engage in growth generating activities after the end of a long running war, a senior minister has said. “Relatively high fiscal deficits and double digit inflation were the main macro-economic issues […]
Sri Lanka bond yields edge up
Sept 23, 2011 (LBO) – Sri Lanka’s bond yields edged up over the week with liquidity in interbank markets tightening, and the yield on a 2016 bond fell back after breaching 9. 0 percent, dealers said. Partially expired bonds were slightly higher. Dealers say there is usually an arbitraged gap between bills and partially expired […]