Category: Economy and Markets
Sri Lanka looks to evacuate 1,200 in Libya as Asian nations pull out citizens
NEW DELHI, February 23, 2011 (AFP) – Asian nations on Wednesday prepared evacuation plans for more than 100,000 migrant workers trapped in Libya, many of them low-paid labourers toiling on construction sites. Arrangements to use passenger ships, planes and land routes to Egypt were being considered by governments as they try to secure their citizens’ […]
Sri Lanka Treasuries yields ease
Feb 23, 2011 (LBO) – Sri Lanka’s Treasuries yields eased at the weekly auction with the government rolling over 11 billion rupees in maturing bills, a statement said. The government sold 2.0 billion rupees of 3-month bills, 3.5 billion rupees of 6-month bills and 5.5 billion rupees of 12-month bills. The government’s debt office which […]
Sri Lanka shares end 1.3-pct lower
Feb 22, 2011(LBO) – Sri Lankan stocks closed 1. 34 percent down with losses seen across the board, brokers said. The All Share Price Index closed at 7,514.74, down 1.34 percent (102.45 points) while the Milanka Price Index of more liquid stocks closed at 7,160.38, down 1.09 percent (78.94 points) according to stock exchange provisional […]
Sri Lanka keeps tabs on market pulse for sovereign bond sale
Feb 22, 2011 (LBO) – Sri Lanka will study market conditions for a bond sale this year, Treasury secretary P B Jayasundera said. “We have to study the market conditions,” Jayasundera said. “In any case it takes about six months preparation to launch a bond.” Last September Sri Lanka raised a billion dollars from international […]
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 […]
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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 […]
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 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 […]
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 […]