Category: Economy and Markets
Sri Lanka shares end down
Apr 19, 2011 (LBO) – Sri Lankan shares closed weaker Tuesday with heavy trading once again in the most recently listed firm and a couple of private deals in select stocks, brokers said. The All Share Price Index closed at 7,475.16, down 0.96 percent (72.63 points) while the more liquid Milanka index fell 1.33 percent […]
Sri Lanka central bank profits fall in 2010; sells gold
Apr 19, 2011 (LBO) – Profits of Sri Lanka’s central bank fell 65. 1 percent to 11.7 billion rupees in 2010 as the cost of domestic monetary operations and rupee appreciation generated losses but made capital gains from gold sales. In 2009 the Central Bank made profits of 33. 6 billion rupees largely as a […]
So what if the US credit rating is cut?
WASHINGTON, April 19, 2011 (AFP) – For the first time a top credit ratings agency has seriously hinted the United States might be forced to welch on its debts, a warning experts say could herald dramatic changes for the country and the world. In the world of credit a “AAA” rating is a gold star […]
Sri Lanka gets most FDI from India in 2010
Apr 19, 2011 (LB) – India was the largest source of foreign direct investment to Sri Lanka in 2010 with 110 million US dollars followed by Malaysia with 72 million US dollars and the United Arab Emirates 66 million dollars, the Central Bank said. “It is necessary for Sri Lanka to attract more non debt […]
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 […]