Category: Economy and Markets
Sri Lanka inflation gap widens with dollar-pegged Asia
Apr 02, 2011 (LBO) – Sri Lanka’s inflation has started to pull ahead of dollar pegged Asia with consumer prices in March rising 8.6 percent from a year earlier, despite a fall in food prices as non-food prices inflated. In the month of March the food portion of Sri Lanka’s Colombo Consumers’ Price index fell […]
Sri Lanka shares close up 2-pct
Apr 01, 2011 (LBO) – Sri Lankan shares closed sharply higher Friday with interest in banking and manufacturing stocks, brokers said. Central Finance fell 31.10 to close at 1,242.60 rupees. The All Share Price Index closed at 7,377. 22, up 2.09 percent (151.10 points) while the more liquid Milanka index rose 2.18 percent (149.89 points) […]
Sri Lanka shares close up 0.5-pct
Mar 31, 2011 (LBO) – Sri Lankan shares closed higher Thursday with interest in the banking and finance sector and Union Bank of Colombo the most actively traded and closing stronger, brokers said. The All Share Price Index closed at 7,226.12, up 0.46 percent (33.40 points) while the more liquid Milanka index rose 0. 92 […]
Sri Lanka industrial exports surge in January, trade deficit narrows
Mar 31, 2011 (LBO) – Sri Lanka’s exports surged 72. 4 percent in January 2011 to 813.4 million US dollars, helped by 121. 9 percent increase in apparel exports to 385.4 million US dollars, the Central Bank said. Consumer goods imports rose 35.6 percent to 316.7 million US dollars. Intermediate goods rose 15.7 percent while […]
Sri Lanka draws Irish investors
Mar 31, 2011 (LBO) – Thirteen companies and representatives from two universities from Northern Ireland will visit Sri Lanka on a business mission from April 2-5, the British High Commission said. Most of the members of the Invest Northern Ireland delegation are new to Sri Lanka and are keen to develop long-term relationships in their […]
Sri Lanka economy grows 8.6-pct in 4Q
Mar 31, 2011 (LBO) – Sri Lanka’s economy grew 8. 6 percent in the fourth quarter of 2010, up from 6. 1 percent a year earlier and also higher than the 8.0 percent estimated for the third quarter, the government’s statistics office said. The office said the economy grew 8. 0 percent during the full […]
Sri Lanka inflation races to 8.6-pct in March 2011
Mar 31, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo shot up 8. 6 percent in March 2011 from a year ago, the highest since January 2009, and up from 7.8 percent in February, the government’s statistics office said. However, according to the month-to-month change, prices fell 0.3 percent in March with the […]
Sri Lanka shares close down 0.21-pct
Mar 30, 2011 (LBO) – Sri Lankan shares closed lower Wednesday, with the benchmark index dipping below 7,200 points despite a late rally, and sustained interest in debutant Union Bank of Colombo which continued to weaken, brokers said. The All Share Price Index closed at 7,192. 72, down 0.21 percent (15.14 points) while the more […]
Sri Lanka oration: RBI chief rubbishes SDR as dollar replacement
Mar 30, 2011 (LBO) – India’s central bank chief has rubbished the use of the International Monetary Fund’s special drawing rights (SDR) as a global currency in a speech in Sri Lanka in sharp contrast to a position taken by China’s central bank earlier. Many Middle Eastern countries created their own currencies after the devaluation […]
Sri Lanka, India central banks facing common challenges: RBI Governor
Mar 30, 2011 (LBO) – Central banks in Sri Lanka and India are facing common challenges and are also saddled with responsibilities going beyond keeping prices and the economy stable, Reserve Bank of India governor Duvvuri Subbarao said. “Both of us have a wider mandate than is typical of central banks,” Subbarao said delivering an […]
Sri Lanka Treasuries flat
Mar 30, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with with11. 9 billion rupees of bills being sold to real buyers after offering 10 billion rupees in maturing the government’s debt office said. The 3-month yield was flat at 6. 98 percent with 2.7 billion rupees in bills being […]
Sri Lanka economic growth 8.1-pct in 2010: Deputy Governor
Mar 29, 2011 (LBO) – Sri Lanka’s economy is estimated to have grown by 8. 1 percent rebounding from a slowdown a year earlier as the country benefitted from a peace dividend, Central Bank deputy governor Dharma Dheerasinghe said. “In January exports have grown 72 percent,” Dheerasinghe said. Imports had grown at a slower rate […]