Category: Economy and Markets
Wrong strategy could worsen dengue epidemics: study
PARIS, 2011 (AFP) – The wrong approach to wiping out the mosquitoes that cause dengue infections could lead to worse epidemics in the future, according to a study released Tuesday. Targeting only mosquito larvae, and not adults, with insecticides may work in the short run, but could result in higher resistance in the insects and […]
Sri Lanka stocks end down 1.2-pct
May 03, 2011 (LBO) – Sri Lankan shares closed down Tuesday with losses in high value shares dragging the indices down and turnover boosted by large deals among oil palm companies, brokers said. The main All Share Price Index closed at 7,270. 67, down 1.17 percent (86.30 points) while the more liquid Milanka index fell […]
Sri Lanka smokers cough up taxes worth 1-pct of GDP
Apr 30, 2011 (LBO) – Sri Lanka’s smokers have coughed up 56 billion rupees in taxes collected through Ceylon Tobacco Company, a unit of British American Tobbacco which is equal to one percent of gross domestic product, the company said. Taxes rose by 3.7 percent or 7.0 percent from a year earlier. CTC chairman Jayampathy […]
Sri Lanka inflation accelerates to 9.8-pct in April
Apr 29, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9. 8 percent in April from a year earlier, accelerating from 8.6 percent in March, data from the government’s statistics office data showed. But excess liquidity remains close to 100 billion rupees, or about a third of the money officially defined monetary […]
Sri Lanka stocks end down
Apr 29, 2011 (LBO) – Sri Lankan shares closed down Friday with heavy trading in the banking and finance sector, brokers said. The main All Share Price Index closed at 7,356. 97, down 0.28 percent (20.68 points) while the more liquid Milanka index fell 0. 20 percent (13.56 points) to close at 6,822.77, according to […]
Sri Lanka stocks end up 0.2-pct
Apr 28, 2011 (LBO) – Sri Lankan shares closed higher Thursday with heavy trading in two banks which reported sharply higher March 2011 quarter profits, brokers said. The main All Share Price Index closed at 7,377.65, up 0.19 percent (13.87 points) while the more liquid Milanka index rose 0.29 percent (19.96 points) to close at […]
Fed chief hums and haws in historic press meet
WASHINGTON, April 27, 2011 (AFP) – His voice cracked and pinched. When necessary — most of the time — he retreated into policy jargon. With markets ready to pounce on any odd choice of words, US central bank chief Ben Bernanke was clearly nervous as he fielded reporters’ questions after a policy meeting for the […]
Sri Lanka Vietnam economic links to widen with re-opened embassy: envoy
Apr 28, 2011 (LBO) – Sri Lanka could attract investments from Vietnam if the path is clear and the two nations could increase two-way trade and tourism rapidly, Ton Sinh Thanh, Hanoi’s envoy heading a newly re-opened embassy in Colombo, said. FDI Vietnam itself is receiving tens of billions of dollars of investment from Japan, […]
Sri Lanka rupee strengthens below 110 to greenback
Apr 28, 2011 (LBO) – Sri Lanka’s rupee strengthened to below 110 to green back as the dollar slid to record lows against currencies issued by other monetary authorities with higher interest rates, dealers said. The spot dollar was quoted around 109.90/95 in mid morning trade. The Australian dollar, rose to a 29-year high against […]
Sri Lanka Treasuries yields edge up
Apr 27, 2011 (LBO) – The yields on Sri Lanka’s treasury bills edged higher at Wednesday’s auction with 10 billion rupees worth maturing bills being rolled over, the government’s debt office said. The yield on three-months bills rose one basis point to 7.04 percent with 2.7 billion rupees in bills being sold and the yield […]
Sri Lanka IPO pricing based on latest financials: advisors
Apr 26, 2011 (LBO) – Financial advisors for a forthcoming share issue by Sri Lanka’s Expolanka group have defended the pricing of the public offer at more than twice that of a private placement late last year. Expolanka Holdings is to raise 2.4 billion rupees by issuing 172 million ordinary voting shares at 14 rupees […]
Asians driven to extreme poverty by commodity bubble
Apr 27, 2011 (LBO) – Rising food prices from a global commodity bubble could push 64 million people in developing Asia into extreme poverty, the Asian Development Bank said adding to rising concerns about the effects loose US monetary policy. Many such central banks also create their own inflation, adding to inflation generated by the […]