Category: Economy and Markets
Sri Lanka and IMF to discuss ways to rope in excess money
Apr 06, 2011 (LBO) – The International Monetary Fund will discuss ways to deal with the excess money in Sri Lanka’s banking system in a bid to contain further inflation from being generated through the pegged monetary system. Sri Lanka’s central bank allowed inflation hit 8. 6 percent in the 12-months to March 2011 prompting […]
Sri Lanka HSBC, British Council backs students in business
Apr 06, 2011 (LBO) – Sri Lankan students studying at universities, private higher education institutions, vocational and professional bodies can win seed capital to start a business in contest launched by the British Council and HSBC bank. Aspiring students will have to submit a business plan to start enterprises in fashion design, architecture, crafts, tourism, […]
Sri Lanka may need monetary tightening: ADB
Apr 06, 2011 (LBO) – Sri Lanka may need monetary tightening later in the year to contain rising inflation and maintain export competitiveness, though growth will be strong for the next two years, the Asian Development Bank said. A central bank inflates an economy mainly by a coercive legal tender law that forces people to […]
Sri Lanka Treasuries yields flat
Apr 06, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with six billion rupees of maturing bills being sold to real buyers, the government’s debt office said. The 3-month yield was 6.99, up one basis point, with 2,560 million rupees in bills being sold and the 6-month yield rose one […]
Sri Lanka gets more IMF cash; warned on excess liquidity
Apr 05, 2011 (LBO) – The International Monetary Fund has given Sri Lanka 218. 3 million dollars under its 2.5 billion US dollar program but called on the Central Bank to tighten liquidity management to prevent further inflation. Authorities expect Sri Lanka to generate less inflation after April. Sri Lanka is also expected to change […]
Sri Lanka IMF targets waived due to lack of data: official
Apr 05, 2011 (LBO) – Sri Lanka’s requirement for targets under an International Monetary Fund was “waived” because data was not available in time and not because they were missed, an official said. IMF’s Colombo representative Koshy Mathai said the lender gave the latest tranche despite the data not being available all the indications pointed […]
Sri Lanka shares end weaker
Apr 05, 2011 (LBO) – Sri Lankan shares closed marginally lower Tuesday with interest in poultry stocks and the finance sector, brokers said. The All Share Price Index closed at 7,370.02, down 0.04 percent (3.12 points) while the more liquid Milanka index fell 0. 15 percent (10.44 points) to close at 7,022.28, according to stock […]
Sri Lanka shares becalmed
Apr 04, 2011 (LBO) – Sri Lankan shares closed barely changed Monday with an information technology company heavily traded although turnover was comparatively lower than usual, brokers said. The All Share Price Index closed at 7,373.14, down 0.06 percent (4.08 points) while the more liquid Milanka index rose 0. 12 percent (8.09 points) to close […]
Sri Lanka foreign reserves steady
Apr 04, 2011 (LBO) – Sri Lanka’s foreign reserves were flat at 6. 7 billion US dollars in February 2011, helped by a 200 million dollar injection form the International Monetary Fund, though reserves measured in months of imports have fallen slightly. By February reserves measured in terms of imports had come down to 5.8 […]
Sri Lanka dam safety confab gets Dutch expertise
Apr 04, 2011 (LBO) – A Dutch expert will lead an annual forum on disaster risk organized by LirneAsia, a regional policy research body that has been active on improving dam safety policies in Sri Lanka which is an island dotted with thousands of reservoirs. LirneAsia says Sri Lanka has 12,000 small dams and 350 […]
Euro up amid eurozone rate hike expectations
SINGAPORE, April 4, 2011 (AFP) – The euro strengthened against the dollar in Asia on Monday as investors moved into the single currency before an expected interest rate hike by the region’s central bank, analysts said. The euro bought $1.4227 in afternoon Asian trade, up from . 4225 late Friday in New York. It changed […]
Sri Lanka university incentives not limited for foreign parties: official
Apr 04, 2011 (LBO) – Incentives given for new private universities will be open to all qualified parties and is not limited to foreign universities, Sri Lanka’s higher education ministry secretary Sunil Nawaratne said. “If you are not in the government you are eligible,” Nawaratne told a forum of state and private educators called together […]