Category: Economy and Markets
Sri Lanka central bank holds interest rates
Feb 08, 2011 (LBO) – Sri Lanka’s central bank held key interest rates unchanged at its monthly monetary policy meeting Tuesday, saying inflation was stable and food prices likely to fall when supply returns to normal. The bank is ready to take “appropriate measures” to ward off any increase in prices of key commodity imports […]
Sri Lanka shares end up 0.47-pct
Feb 07, 2011(LBO) – Sri Lankan stocks closed up Monday with both indices pushed up by active retail investor participation in the diversified and trading sector stocks, brokers said. The All Share Price Index closed at 7,381.10, up 0.47 percent (34.29 points) while the Milanka Price Index of more liquid stocks closed at 7,211. 85, […]
‘s new currency notes from today
Feb 07, 2011 (LBO) – Sri Lanka’s central bank has issued a new series of currency notes featuring economic infrastructure, traditional dancers and birds including a newly discovered endemic owl species. Based on a theme of ‘development, prosperity and Sri Lanka dancers, it is the 11th series of notes issued since the creation of the […]
Sri Lanka large bank note shows recent inflation: economist
Feb 07, 2011 (LBO) – A large denomination banknote issued by Sri Lanka’s monetary authority is a testament to the recent high inflation created in the country, an economist and opposition lawmaker has said. Sri Lanka’s central bank issued a 5,000 rupee note, more than twice the value of 2,000 rupee, note also issued after […]
Sri Lanka to grow fast if policy intentions carried out: IMF
Feb 05, 2011 (LBO) – Sri Lanka has good prospects of sustaining economic growth between 7. 0 to 8.0 percent a year if the declared economic plan is implemented, an International Monetary Fund official said. The state has now unveiled a plan to stop living beyond its means by cutting deficits, which can keep interest […]
Sri Lanka flexible exchange rate can cut carry trade risk: IMF
Feb 04, 2011 (LBO) – A flexible exchange rate that moves in both directions can ward off speculative capital flows by signaling the risk of capital losses, while also improving competitiveness, an International Monetary Fund official said. Policy rates in Sri Lanka are now on a 7.0 to 8.5 percent band compared to almost zero […]
Sri Lanka president promises growth
KATARAGAMA, February 4, 2011 (AFP) – Sri Lanka’s President Mahinda Rajapakse promised Friday to promote economic development at all costs to make up for opportunities lost during the country’s separatist war. In an address on the country’s 63rd anniversary of independence from Britain, Rajapakse said he would press ahead with infrastructure projects and double per […]
Sri Lanka gets more cash, path open for reforms: IMF
Feb 03, 2011 (LBO) – Sri Lanka has got 216. 6 million US dollars from the International Monetary Fund despite missing one key target and lack of data for another, with the lender banking on better budgeting and inflation control. The dollar reserves are more than enough to convert the entire rupee monetary base which […]
Sri Lanka forex reserve target missed due to Iran repayment
Feb 03, 2011 (LBO) – Sri Lanka missed a foreign reserve target set in a deal with the International Monetary Fund due to an early repayment of a loan to Iran, IMF resident representative Koshy Mathai said. The government itself has no capacity to generate foreign exchange, except by borrowing and indebting future generations. Exports […]
Sri Lanka shares end up 1.16-pct
Feb 03, 2011 (LBO) – Sri Lankan stocks closed higher Thursday with heavy trading seen in Richard Pieris & Company and interest in plantations and poultry shares, brokers said. The All Share Price Index closed at 7,346.81, up 1.16 percent (84.55 points) while the more liquid Milanka index rose 0.41 percent (29.55 points) to close […]
Sri Lanka shares end up 0.99-pct
Feb 02, 2011(LBO) – Sri Lankan stocks closed up Wednesday with active trading seen in the food and beverage sector as well as in index heavy stocks like John Keells Holding, brokers said. The All Share Price Index closed at 7,262. 26, up 0.99 percent (71.49 points) while the Milanka Price Index of more liquid […]
Sri Lanka Treasuries yields ease
Feb 02, 2011 (LBO) – Sri Lanka’s Treasury bills yields eased at Tuesday’s auction with the government raising 21. 5 billion rupees after offering 11 billion rupees in bills for roll-over. The 3-month yield fell one basis point to 7. 00 percent, the 6-month yield also fell one basis point to 7. 09 percent and […]