Category: Economy and Markets
Sri Lanka beaten by China in Asian outsourcing race: IBM report
Dec 07, 2010 (LBO) – Sri Lanka and China are emerging as key destinations for services investments, while Phillipines has overtaken India as the top ranked outsourcing centre, a report by IBM, a global information technology firm has said. In IBM’s Global Location Trends report for 2010 Philippines claimed top place displacing India for the […]
Sri Lanka targets low inflation, low poverty, high employment: CB Governor
Dec 06, 2010 (LBO) – Sri Lanka is hoping to bring down unemployment lower than the current 5. 2 percent and keep inflation and interest rates low to bring down poverty with higher growth, Central Bank Governor Nivard Cabraal said. “Poverty to has been brought down to 7.6 percent which would have taken many poeple […]
Sri Lanka economic growth projected at 8.0-pct in 2010
Dec 06, 2010 (LBO) – Sri Lanka’s full-year economic growth for 2010 is estimated at 8. 0 percent is based on the latest data, Central Bank Governor Nivard Cabraal said, firming an earlier forecast of 7.5 to 8.0 percent. “It is estimated by our statistics team that Sri Lanka will record a growth of 8. […]
Sri Lanka central bank forex seller in Nov
Dec 06, 2010 (LBO) – Sri Lanka’s central bank sold 89. 05 million US dollars in November to maintain the country’s peg, with the US dollar as credit grew and economic activities picked up, official data show. Excess liquidity in the banking system is still high at 128 billion rupees. The bank is a net […]
Sri Lanka stocks close down 0.6-pct
Dec 06, 2010 (LBO) – Sri Lankan stocks ended down 0.63 percent Monday with some investors cashing out to re-align portfolios, brokers said. The All Share Price Index closed at 6,506.30, down 0.63 percent (41.38 points) while the Milanka index of liquid stocks dipped 1.12 percent (79.21 points) to close at 6,976.24, according to Colombo […]
Malaysia cuts fuel, sugar subsidy to trim deficit
KUALA LUMPUR, December 4, 2010 (AFP) – Malaysia has cut subsidies for fuel and sugar, a report said Saturday, in a bid to reduce its budget deficit by saving the government 1. 18 billion ringgit (376 million dollars). The opposition scored unprecedented gains in elections in 2008 which saw it claim five states and a […]
Sri Lanka Singer unit raises Rs1.4bn in debt
Dec 03, 2010 (LBO) – Singer Sri Lanka, a unit of Dutch-based Retail Holdings, has raised 1. 4 billion rupees through a mix of a loan and an unsecured redeemable debenture, placement agent NDB Investment Bank (NDBIB) said. NDBIB said Singer raised 400 million rupees through an unsecured loan and one billion rupees through an […]
Sri Lanka stocks close almost flat
Dec 03, 2010 (LBO) – Sri Lankan stocks ended almost flat Friday, with only limited retail trading in the market and profit taking in the index heavy stocks, brokers said. The All Share Price Index closed at 6,547. 68, up 0.14 percent (8.84 points) while the Milanka index of liquid stocks closed flat at 7,055. […]
Sri Lanka stocks close down 0.3-pct
Dec 02, 2010 (LBO) – Sri Lankan stocks ended down 0.32 percent Thursday, with both indices being dragged down by index heavy stocks and the banking sector, brokers said. The All Share Price Index closed at 6,538.84, down 0.32 percent (21.05 points) while the Milanka index of liquid stocks dipped 0.73 percent (52.05 points) to […]
Sri Lanka may use extra forex reserves in Exim bank: CB Governor
Dec 02, 2010 (LBO) – Sri Lanka may use extra foreign reserves in a proposed export import bank to be set up next year to finance exporters and contractors, Central Bank Governor Nivard Cabraal said. China transferred a part of its foreign reserves to a forex management agency after issuing Treasury bills to its central […]
Sri Lanka Treasuries yields steady
Dec 01, 2010 (LBO) – Sri Lanka’s Treasury bill yields were steady across maturities at Wednesday’s auction with 11. 0 billion rupees in bonds being sold to real buyers, the government’s debt office said. The government sold 2.0 billion rupees in 3-month bills, 4. 0 billion rupess in 6-month bills and 5. 0 billion rupees […]
Sri Lanka stocks end up 1.9-pct
Dec 01, 2010 (LBO) – Sri Lankan stocks ended higher Wednesday, on the back of Tuesday’s gains, after the regulator gave more time for brokers to clear credit given to clients, brokers said. The All Share Price Index closed at 6,559. 89, up 1.94 percent (125.04 points) while the more liquid Milanka index rose 1.75 […]