Category: Economy and Markets
Sri Lanka bill yields up
Apr 19, 2011 (LBO) – Sri Lanka’s 3-month Treasury bill yields edged up three basis points to 7.03 percent a week after the Central Bank raised reserve ratios draining 15 billion rupees in excess liquidity from the banking system to contain inflation and credit. The government’s debt office said the 6-month yield rose 02 basis […]
Sri Lanka shares end weaker
Apr 18, 2011 (LBO) – Sri Lankan shares closed slightly weaker Monday after a holiday break with heavy trading of a recently listed firm and interest in banking and aluminium stocks, brokers said. Alufab also saw active trading, closing at 97, up 20. 40 or 26.6 percent. The stock exchange said a 10 percent price […]
Sri Lanka faces balance between inflation and growth: IMF
Apr 18, 2011 (LBO) – Sri Lanka faces a balance between inflation and growth, a top International Monetary Fund official said as prices continue to rise and the Central Bank has taken the first steps to tackle loose monetary policy. Anoop Singh, director of IMF’s Asia and Pacific department said that Sri Lanka has been […]
Sri Lanka state worker growth flattens
Apr 17, 2011 (LBO) – The expansion of Sri Lanka state workers seen since 2004 has taken a breather in 2010 reducing a key form of tax banditry practised by rulers, the latest official data shows. In 2010 however the state also froze wages helping bring down the budget deficit. However analysts say rather than […]
” bill opposition increases
Apr 17, 2011 (LBO) – An attempt by the state to deduct further sums money from salaries of Sri Lanka’s private sector workers to create a ‘pension’ has run into further opposition with the draft law being challenged in court, a media report said. The Sunday Times newspaper said Ceylon Bank Employees Union had challenged […]
Vietnam ADB meeting to focus on Asian emerging challenges
Apr 14, 2011 (LBO) – Asian Development Bank’s annual meeting in Vietnam will focus on rising commodity prices which is hurting Asia’s two billion poor, climate change, an ageing population as the region also grapples with natural disasters. ADB’s 44th annual meeting starts will be held from May 03 to 06 in Hanoi alongside a […]
Sri Lanka could target inflation of 4-7 percent: IMF paper
Apr 14, 2011 (LBO) – An International Monetary Fund policy paper has proposed a forecasting and policy analysis system (FPAS) to help start an inflation targeting regime for Sri Lanka which suggested a range of 4.0 to 7.0 percent a year as a target. The paper said Sri Lanka’s tight peg also complicated monetary policy. […]
Sri Lanka central bank had independence in 2010: Treasury secretary
Apr 13, 2011 (LBO) – Sri Lanka’s central bank had independence in 2010 and the country moved forward with more prudent fiscal and monetary policies, Treasury Secretary P B Jayasundera said. Central Banks were originally created by kings to print money and fight wars creating inflation and balance of payments troubles in the process. Sri […]
Inauspicious start for Sri Lanka timekeeping site
April 12, 2011 (AFP) – An official Sri Lankan timekeeping website aimed at synchronising watches and helping locals to obey astrological instructions crashed on its first day thanks to unexpected stormy weather. The website, www.sltime.org, was launched Monday by President Mahinda Rajapakse as a resource to help align clocks, watches and computers with Sri Lankan […]
Sri Lanka shares end up 1.6-pct
Apr 12, 2011 (LBO) – Sri Lankan shares closed sharply higher Tuesday with the main index and turnover boosted by large transfers of shares in the Carsons group and gains in select high-valued stocks, brokers said. In other trades Tuesday, a million Commercial Bank shares changed hands in three crossings at 275 rupees a share […]
Sri Lanka infrastructure lays foundation for growth: President
Apr 12, 2011 (LBO) – State infrastructure projects in power, ports, roads and water supply, especially in the war torn north and east of the country has laid a foundation for higher growth, Sri Lanka’s President Mahinda Rajapaksa said. “On the other had in the north – which had regressed 30-year during the war – […]
Sri Lanka fast highway to have special emergency services
Apr 12, 2011 (LBO) – Sri Lanka’s first 100 kilometer per hour expressway from Kottawa in Colombo suburbs to Godagama in Matara in the southern province will have a specialist police division, paramedics and fire brigade, officials said. “There will be a special police division for traffic control, paramedics and separate fire brigade for the […]