Category: Economy and Markets
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Feb 21, 2011 (LBO) – A devaluation of Vietnam’s currency by 9.0 percent may increase bank bad loans, especially where dollar loans were given to customers with local currency revenues and hurt capital, Moody’s, a rating agency has said. A weaker dong increases prices throughout the economy, with internationally traded goods, whether imported or exported […]
Sri Lanka shares fall on profit-taking
Feb 21, 2011(LBO) – Sri Lankan stocks closed 0.72 percent lower Monday on profit-taking by retail investors after a recent rally, brokers said. The All Share Price Index closed at 7,617.19, down 0.72 percent (-55.30 points) while the Milanka Price Index of more liquid stocks closed at 7,239.32, down 0.04 percent (-2.83 points), according to […]
Sri Lanka shares end up 0.8-pct
Feb 18, 2011(LBO) – Sri Lankan stocks closed 0. 85 percent higher Friday helped by gains in Ceylon Tea Services and Bukit Darah stocks, brokers said. The All Share Price Index closed at 7,672. 49, up 0.85 percent (64.70 points) while the Milanka Price Index of more liquid stocks closed at 7,242. 15, up 0.24 […]
US researchers hopeful for dengue vaccine
SAN JUAN, February 17, 2011 (AFP) – Promising advances have been made in the testing of possible vaccines to prevent the mosquito-borne dengue virus, which kills 25,000 people every year, researchers said Thursday. “There’s been tremendous progress,” he said. “There are a number of vaccines that are now in clinical trials and there’s now very […]
Sri Lanka set to meet budget deficit target: IMF
Feb 18, 2011 (LBO) – Sri Lanka’s government is likely to be able to meet the 2010 target for its budget deficit of eight percent of gross domestic product, a visiting International Monetary Fund official said. Brian Aitken, chief of the IMF review mission, said the island’s economic growth remained strong and there were no […]
Sri Lanka to keep original budget gap despite floods: IMF mission
Feb 18, 2011 (LBO) – Sri Lankan authorities want to keep the budget deficit target of 6. 75 percent of gross domestic product for 2011 despite the additional flood related expenditure, IMF mission chief Brian Aiken said. “Addressing the impact of the floods may require some re-allocation of budget resources, but the authorities felt that […]
Sri Lanka north gets Japan, ADB grant for water
Feb 16, 2011 (LBO) – Sri Lanka’s former war zones in the north of the island will get a two million dollar grant from Japan and the Asian Development Bank to provide safe water and sanitation for rural people. A 30-year war ended in the area in May 2009. ADB said the new grant will […]
Sri Lanka flood victims to get EU aid
Feb 15, 2011 (LBO) – Sri Lanka’s flood victims, some of whom were recovering from a recent war will get 105 million rupees (700,000 euros) of food aid from the European Union through the World Food Program. “The needs of the flood-affected communities are great and WFP still faces considerable shortfalls in our funding” WFP’s […]
Sri Lanka shares fall sharply
Feb 15, 2011 (LBO) – Sri Lankan shares fell sharply Tuesday, with the main index losing most of Monday’s gains, with oil palm shares of the Carson group that had driven it to a new high, coming down, brokers said. The All Share Price Index closed at 7,607. 79, down 2.61 percent (204.03 points) while […]
Sri Lanka Treasuries yields steady
Feb 14, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at the weekly auction with the government selling 13. 5 billion rupees in bills after offering 11. 0 billion rupees of paper for roll-over. The government’s debt office which is a unit of the Central Bank said the three-month yields were steady at 6.99 […]
‘s economy shrinks in Q4 as China moves ahead
TOKYO, February 14, 2011 (AFP) – Japan ceded its spot as the world’s second-biggest economy to China in 2010, as gross domestic product contracted in the fourth quarter on sliding consumer consumption and demand, data showed. Real gross domestic product slipped by an annualised 1.1 percent in the October-December quarter as the expiration of auto […]
Sri Lanka shares surge on palm oil hopes
Feb 14, 2011 (LBO) – Sri Lankan shares surged to a new high Monday as investors continued to buy into firms with oil palm plantations anticipating higher earnings on high commodity prices, brokers said. The All Share Price Index closed at 7,811.82, up 2.97 percent (225.19 points) while the more liquid Milanka index fell 0.15 […]