Category: Economy and Markets
World population will reach 7 billion this year: study
PARIS, August 17, 2011 (AFP) – The world population will reach seven billion later this year, with increases in the number of people in Africa off-setting birth rate drops elsewhere, according to a new French study published Thursday. “It has increased seven-fold over the last two hundred years, topping seven billion in 2011, and is […]
India and China to lead gold demand: WGC
MUMBAI, August 18, 2011 (AFP) – Gold, at record-breaking levels as global economic worries mount, will see sustained demand from key markets India and China this year despite high prices, the World Gold Council said on Thursday. Global demand for the second quarter to June was 919. 8 tonnes, down 17 percent year-on-year, from 1,107 […]
Sri Lanka Pan Asia banks to sell 5-year bonds
Aug 17, 2011 (LBO) – Sri Lanka’s PABC Bank will sell 5-year bonds to raise two billion rupees to boost regulatory capital amid strong loan growth, Fitch Ratings Lanka which rated the securities ‘BBB-(lka)’ said. Pan Asia Bank itself is rated one level higher. Both are investment grade ratings. The subordinated bonds, which will be […]
‘s home town
HAMBANTOTA, August 17, 2011 (AFP) – When the 2004 Asian tsunami hit Sri Lanka, the sleepy fishing region of Hambantota was flattened and 3,000 people perished. Now it is riding a massive wave of construction. Hambantota, the home constituency of President Mahinda Rajapakse, is not only emerging as a commercial and logistics hub of Sri […]
Sri Lanka central bank relaxes forex controls
Aug 17, 2011 (LBO) – Sri Lanka’s central bank has relaxed some exchange controls allowing citizens and foreign residents to engage in a series of forex transactions without seeking permission from the state, improving economic freedoms. The Central Bank of Sri Lanka said the new moves would “enhance investor confidence, strengthen the foreign reserves in […]
Sri Lanka stocks down 0.5-pct
Aug 17, 2011 (LBO) – Sri Lanka stocks closed 0.5 percent lower Wednesday as euphoria over a relaxed credit rule eased but punters chased a few speculative stocks, brokers said. The stock traded at 86 times annualized quarterly profits of 30 cents a share. Panasian Power closed at 5.20 rupees up 40 cents or 8.33 […]
Sri Lanka Treasuries yields flat
Aug 17, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with 3-month bills yields 7.11 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield was flat at 7.19 percent and 12-month yield was 7.25 percent. The government said it had sold 3.5 billion rupees in 3-month bills, […]
Sri Lanka stocks soar 3-pct on margin rule
Aug 16, 2011 (LBO) – Sri Lanka stocks closed up 3. 1 percent with the regulator saying brokers could give margin facilities to clients, and the benchmark index moved above 7,000 points, in a five week high brokers said. Colombo’s benchmark All Share Price Index close up 3. 13 percent or 214.21 points at 7,050.74 […]
Sri Lanka cement supplies disrupted amid price controls
Aug 16, 2011 (LBO) – Sri Lanka’s cement supplies remain disrupted amid price controls and posturing by rulers and the co-operative sector involved in another controversy, in a repetition of a similar debacle in the poultry sector. The Daily Mirror newspaper said Monday three cement firms have written to Sri Lanka’s consumer affairs agency which […]
Sri Lanka stocks flat amid estate, poultry sell-off
Aug 15, 2011 (LBO) – Sri Lankan stocks closed flat on Monday a sell-off of plantations and poultry firms which have reported weak earnings, though some index heavy stocks gained, brokers said. Colombo’s benchmark All Share Price Index close up 0.05 percent or 3.47points at 6,836.53 while the Milanka Index of liquid stocks closed up […]
Economic leadership at crux of turmoil: World Bank
SYDNEY, August 14, 2011 (AFP) – World Bank chief Robert Zoellick said Sunday that investors had lost confidence in the economic leadership of several key countries, warning global markets were in a “new danger zone” as a result. Zoellick said a convergence of events in the United States and Europe had rattled investors in countries […]
Sri Lanka youth seeking Korean jobs already working: think tank
Aug 15, 2011 (LBO) – A snap survey by a Colombo based think tank among thousands of young Sri Lankans queuing up to find jobs in Korea have revealed that a majority of them were already employed and looking for better salaries. said 63.4 percent of those polled at a centre in Colombo were already […]