Category: Economy and Markets
Sri Lanka to resume cash auctions in money markets: CB Governor
Sept 15, 2011 (LBO) – Sri Lanka’s central bank is ready to start daily cash auctions in money markets Governor Nivard Cabraal said, as dollar sales to maintain a currency peg rapidly sucked rupees out of the banking system. “If liquidity is low and we do not have excess liquidity, we will resume daily auctions,” […]
Swazi king wants bailout from IMF, World Bank
MANZINI, September 14, 2011 (AFP) – Swazi King Mswati III said Wednesday that the International Monetary Fund and the World Bank should come to his country’s rescue, as they have for troubled nations like Greece and Portugal. “When they come to visit us, they do not come in the same spirit and that is a […]
Sri Lanka, Vietnam mull tractor plant, garment ventures
Sept 15, 2011 (LBO) – Vietnam is considering setting up a tractor plant in Sri Lanka and also joint ventures in garment manufacture, the island’s ministry of industry and commerce said in a statement. “Vietnam is keen to import more coconuts from Sri Lanka, collaborate in garment manufacturing and also to set up a manufacturing […]
‘s GDP expands 8.2-pct in June quarter: statistics office
Sept 15, 2011 (LBO) – Sri Lanka’s economy expanded by an estimated 8. 2 percent in the second quarter of 2011 from a year earlier, led by industry and services, the state statistics office said. In the second quarter of 2010, gross domestic product grew by 8.5 percent. The statistics office said industry, which has […]
Sri Lanka investments being mulled by Korea
Sept 14, 2011 (LBO) – South Korean firms like Hyundai and LG are interested in exploring investements in shipbuilding and electronics in Sri Lanka, the island’s ministry of industry and commerce said. The interest of Korean companies was revealed by South Korean ambassador Jongmoon Choi during a courtesy call on the industry and commerce minister […]
Sri Lanka stocks end down 0.5-pct
Sept 14, 2011 (LBO) – The slide in Sri Lanka’s stock market continued Wednesday with turnover also falling amid continued trade in stocks that had attracted speculators, brokers said. There were two crossings or off-market private deals of Distilleries Company of 350,000 shares at 175 rupees each. It closed at 175.10, up 10 cents. The […]
Sri Lanka gets Indian aid for English training
Sept 14, 2011 (LBO) – Sri Lanka is to get Indian aid to improve training in English language skills in the island, seen as a critical need especially in the corporate sector, under an agreement signed between the two governments. The deal provides for equipment and teaching aids from India for setting up 30 language […]
‘s growth to slow: ADB
HONG KONG, September 14, 2011 (AFP) – Asia’s developing economies will post slower-than-expected growth this year and next as key trading partners reduce orders due to worries about the global economy, a report said Wednesday. However, the region will continue to see strong expansion as it makes up for lost exports to the developed world […]
Sri Lanka Treasuries yields steady
Sept 14, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with the 3-month yield flat at 7. 11 percent data from the state debt office showed. The 6-month yield edged up one basis point to 7. 20 percnet and the 12-month yield rose one basis point to 7.26 percent. The debt […]
Sri Lanka stocks end down 0.5-pct
Sep 13, 2011 (LBO) – Sri Lankan stocks slumped again Tuesday continuing a slide that began towards the end of last week, with the highlight being trading in Lanka Milk Foods in which there were several deals, brokers said. The main All Share Price Index fell 0.54 percent (37.58 points) to 6,930.04, while the more […]
Sri Lanka rupee pressured, liquidity tightens
Sept 13, 2011 (LBO) – Sri Lanka’s rupee continued to be pressured in forex markets with the spot dollar held at 110. 10 rupees with forex sales by authorities Tuesday, dealers said, while liquidity tightened despite fresh injections. Excess liquidity in the interbank market fell to 27. 6 billion rupees Tuesday from 31.4 billion rupees […]
Sri Lanka stocks end down 0.3-pct
Sep 12, 2011 (LBO) – Sri Lankan stocks ended lower Monday continuing a slump that began towards the end of last week, with mostly speculative trading seen, brokers said. The main All Share Price Index fell 0. 32 percent (22.71 points) to 6,967.62, while the more liquid Milanka index fell 0. 25 percent (15.89 points) […]