Category: Economy and Markets
Sri Lanka has good economic prospects, if deficits are cut: World Bank
Dec 19, 2010 (LBO) – Sri Lanka has good growth prospects if deficit spending can be reduced allowing the economy to be stable, and can also expect more financing from World Bank as the island emerges from a conflict, an official said. The US Federal Reserve devalued its currency against gold in 1933 setting the […]
Sri Lanka to get funding from higher cost window: World Bank
Dec 18, 2010 (LBO) – Sri Lanka has qualified to get loans from a higher cost window of the World Bank amid rising incomes, which will double access to annual funds, managing director Ngozi Okonjo-Iweala said. Sri Lanka also now has access to capital markets. Countries with access to capital markets and which are deemed […]
Sri Lanka stocks close flat
Dec 17, 2010 (LBO) – Sri Lanka stocks closed flat Friday, with trading seen in the farming sector stocks, brokers said. The All Share Price Index closed flat at 6,360. 84 while the Milanka index of liquid stocks rose 0.18 percent (12.30 points) to close at 6,834.07, according to Colombo Stock Exchange (CSE) provisional figures. […]
Sri Lanka economy expands 8.0-pct in 3Q, 2010: Statistics office
Dec 16, 2010 (LBO) – Sri Lanka’s economy has expanded 8. 0 percent in the third quarter of 2010 from a year earlier, compared to an 8.5 percent growth in the second quarter, the government’s statistics office said. The services sectors 8.0 percent growth (up from 5.1 percent last year) came with hotels and restaurants […]
Sri Lanka to issue Rs5,000 note
Dec 16, 2010 (LBO) – Sri Lanka’s central bank plans to print and issue a 5,000-rupee note from next February, deputy governor K G G D Dheerasinghe said. The bank will stop printing a 2,000-rupee note when the new 5,000-rupee note enters money circulation to coincide with its 60th anniversary. The 2,000-rupee note was considered […]
Sri Lanka stocks close down 0.2-pct
Dec 15, 2010 (LBO) – Sri Lankan stocks closed down 0. 21 percent Thursday, with a dull day of trading in the market, brokers said. The All Share Price Index closed at 6,360. 34, down 0.21 percent (13.42 points) while the Milanka index of liquid stocks dipped 0. 17 percent (11.58 points) to close at […]
Sri Lanka stocks close down 0.2-pct
Dec 15, 2010 (LBO) – Sri Lankan stocks closed down 0.19 percent Wednesday, dragged down by banking and index heavy stocks while shares of a gas distributor which debuted last week fell to their issue price, brokers said. The All Share Price Index closed at 6,373.76, down 0.19 percent (11.84 points) while the Milanka index […]
Sri Lanka Treasuries yields ease
Dec 15, 2010 (LBO) – Sri Lanka’s three-month and six-month Treasury bill yields fell slightly at Wednesday’s auction with the government rolling over 10,883 million rupees worth of bonds, the debt office said. The debt office said the auction for the re-issue of 11,000 million rupees of maturing Treasury bills was oversubscribed with bids amounting […]
Sri Lanka budget, reforms on track, inflation rising: IMF
Dec 14, 2010 (LBO) – Sri Lanka’s 2010 state spending is on track with a planned 8.0 percent of gross domestic product deficit, and a new budget for next year has reformed taxes, but inflation is rising, the International Monetary Fund said. The government also announced an intention to end sweeping tax holidays which if […]
Sri Lankan firms tap unemployed youth in lagging region
Dec 14, 2010 (LBO) – Sri Lankan companies seeking to fill vacancies held a job fair in the southern Wellawaya region, an economically neglected part of the island which lags behind other regions, a statement said. The Board of Investment said more than twenty six enterprises under the investment promotion agency took part in the […]
Sri Lanka stocks close down 0.8-pc
Dec 14, 2010 (LBO) – Sri Lankan stocks closed down Tuesday with index heavy stocks like JKH and Dialog Axiata dragging the market down, brokers said. Turnover was 1.25 billion rupees. “Hardly any high-net-worth and institutional participation was seen in the market with some retail trading taking place,” Sahani De Silva of Bartleet Mallory Stockbrokers […]
Sri Lanka policy rates steady as inflation rise
Dec 14, 2010 (LBO) – Sri Lanka’s central bank said it was holding rates steady at 7. 25 and 9.00 percent as inflation rose and credit growth picked up amid a “sustained recovery” in economic activities. Sri Lanka has one of the highest policy rates in the world and this year’s inflation at 7.0 percent […]