Category: Economy and Markets
Sri Lanka policy rates unchanged; credit growth to slow: CB
July 08, 2011 (LBO) – Sri Lanka’s central bank held its policy rate at which excess money is withdrawn from the market at 7.0 percent in July saying credit growth was slowing and inflation would ease further. In June 12-month inflation fell to 7.1 percent from 8.1 percent in May, measured by the widely watched […]
Sri Lanka stocks close up 0.5-pct
July 07, 2011 (LBO) – Sri Lanka stocks closed firmer Thursday with sharp gains in Lanka Orix Finance Company, which began trading, helping propel the benchmark index up by over a hundreds points in early trade, brokers said. The main All Share Price Index closed at 6,918.41, up 0.50 percent (34.35 points) while the more […]
China tops Sri Lanka loan commitments
July 07, 2011 (LBO) – China has committed 760 million US dollars of new loans in the first four month of 2011, topping Japan’s 413 million dollars in the same period, to reach top spot, official data showed. Sri Lanka’s total capital budget is financed from loans, as the country runs a deficit on the […]
Sri Lankan capital among cheapest cities: survey
SYDNEY, July 7, 2011 (AFP) – The soaring Australian dollar has turned the country’s four biggest cities into some of the most expensive locations in the world, according to a new global survey published Thursday. Sydney and Melbourne are now the sixth and seventh most expensive cities on the planet, the Economist Intelligence Unit’s biennial […]
Sri Lanka one year Treasuries slip
July 05, 2011 (LBO) – Sri Lanka’s 12-month Treasury bill yield slipped 10 basis points to 7.25 percent at Wednesday’s auction, where 10 billion rupees of Treasuries were offered for sale, the government’s debt office said. The 3-month yield eased 01 basis point to 7. 11 percent and the 6-month yield fell 02 basis points […]
Sri Lanka stocks end up 0.3-pct
July 06, 2011 (LBO) – Sri Lankan stocks closed higher for the second day running although turnover remained lower than usual with no big deals done, brokers said. The main All Share Price Index closed at 6,884.06, up 0.31 percent (21.27 points) while the more liquid Milanka index rose 0.28 percent (18.23 points) to close […]
Sri Lanka stock end up 0.7-pct
July 05, 2011 (LBO) – Sri Lankan stocks recovered Tuesday with gains in index-heavy shares like John Keells Holdings in which there were six crossings or off-market private deals and foreigners being net buyers, brokers said. The All Share Price Index went up by 46.05 points (0.67 percent) to close at 6,862.79 while more sensitive […]
Sri Lanka state revenues up 19.8-pct to May
July 04, 2011 (LBO) – Sri Lanka’s state revenues rose 19. 8 percent to 358.2 billion rupees in the five months to May from a year earlier, a finance ministry report said, with a surge in imports helping pad up revenues. The state extracted 23.8 percent more taxes from the people, totaling 319. 7 billion […]
Sri Lanka on track to meet deficit, FDI targets: Treasury Secretary
July 04, 2011 (LBO) – Sri Lanka is “well on track” to keep the 2011 budget deficit within 7. 0 percent of gross domestic product, and foreign direct investments of 2.0 percent of GDP, Treasury secretary P B Jayasundera said. With first quarter GDP at around 8. 0 percent, per capita GDP is on track […]
Sri Lanka ranked 82nd in innovation index
July 04, 2011 (LBO) – Sri Lanka has been ranked 82nd, in a global innovation index issued by Insead, an international business school, behind India but ahead of other key south Asian countries. Switzerland topped this year’s ranking in the Global Innovation Index (GII), while Sweden took second place and Singapore third. The GII 2011 […]
Sri Lanka to continue tight macro-management after IMF deal: CB Governor
July 4, 2011 (LBO) – Sri Lanka will manage macro-economic policy prudently on its own after an International Monetary Fund deal ends in December, Central Bank Governor Nivard Cabraal said. Coomaraswamy said Sri Lanka has had a history of deficit spending and high inflation over the past 30 years and a seal of approval by […]
Sri Lanka approves investments of US4.0bn in first half
July 4, 2011 (LBO) – Sri Lanka’s Board of Investment, the state investment promotion agency, had approved 4.0 billion dollars of local and foreign investments in 28 projects in the first half of 2011, its acting chairman A M C Kulasekera said. Among known large projects in the pipeline are two hotel and shopping complexes […]