Category: Economy and Markets
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 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 […]
Sri Lanka flood damage $600 mln
February 13, 2011 (AFP) – The damage from monsoon flooding in Sri Lanka over the last six weeks is estimated at 0 million, a government minister said Sunday amid a slow response to an international appeal for help. The United Nations issued an appeal for $51 million to address immediate needs after the first round […]
Sri Lanka shares close up 1.2-pct
Feb 11, 2011(LBO) – Sri Lankan stocks closed 1. 2 percent higher Friday with index heavy Dialog Axiata and Carson Cumberbatch stocks pushing the market up, brokers said. The All Share Price Index closed at 7,586.63, up 1.24 percent (93.01 points) while the Milanka Price Index of more liquid stocks closed at 7,259.81, up 0.41 […]
Sri Lanka expects a billion dollars of FDI in 2011
Feb 11, 2011 (LBO) – Sri Lanka is expecting more than a billion US dollars in foreign direct investments in 2011 led by a booming leisure sector, after the end of a three decade war made the country more attractive, an official said. “Our expectations (for 2011) are well over a billion (US dollars),” Board […]
Sri Lanka to sell land reclaimed from sea: port official
Feb 11, 2011 (LBO) – Sri Lanka Ports Authority plans to reclaim and sell to private investors 340 acres of land off the capital Colombo where a new port is being built next to the existing one, an official said. “It will be for residential purposes, and offices and shopping along with eco-parks,” Keppetipola said. […]
Sri Lanka to renegotiate trade deal with India
Feb 11, 2011 (LBO) – Sri Lanka is to start talks again on a proposed trade agreement with India that had been opposed by protectionist interests in the island, according a government decision announced after the weekly cabinet meeting. But it has been opposed by some Sri Lankan industrial and professional groups. The government is […]
Sri Lanka shares close up 1.5-pct
Feb 10, 2011(LBO) – Sri Lankan stocks closed 1. 5 percent higher Thursday helped by gains in the banking stocks, brokers said. The All Share Price Index closed at 7,493.62, up 1.57 percent (116.18 points) while the Milanka Price Index of more liquid stocks closed at 7,230.35, up 0.37 percent (26.60 points) according to stock […]
Bernanke under fire in Congress; blames China
WASHINGTON, February 10, 2011 (AFP) – Federal Reserve chairman Ben Bernanke fended off criticism that he is ignoring the risk of rising prices Wednesday, as he faced a hostile Republican-controlled panel in Congress. “We remain unwaveringly committed to price stability,” Bernanke told the House of Representatives budget committee, rejecting claims that rising prices for food […]
Sri Lanka Treasuries yields steady
Feb 09, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s 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 3-month yield eased one basis point to […]