Category: Economy and Markets
Sri Lanka, India has best budget transparency in South Asia: survey
Nov 25, 2010 (LBO) – Sri Lanka and India has emerged on top in South Asia on a global survey on budget tranparency by a Washington based body, which judged that citizens are given enough information to assess how their money is used. Sri Lanka and India has scored 67 points and transparency has improved […]
Sri Lanka budget 2011 for stability, knowledge economy
Nov 25, 2010 (LBO) – Sri Lanka’s 2011 budget has been made to keep the economy stable allowing monetary policy to maintain low inflation and also speed the country towards a knowledge economy, Treasury Secretary P B Jayasundera said. “This entire fiscal strategy is to bring stability in macro terms,” he told a seminar organized […]
‘s level
Nov 25, 2010 (LBO) – Sri Lanka’s tea production in October 2010 was 26.6 million kilos, almost the same as a year ago but the crop in the 10 months period was much higher, the Tea Board said. Low growns, which make up more than half the crop, rose 4.9 percent to 17.5 million kilos […]
Sri Lanka Treasuries yields flat
Nov 24, 2010 (LBO) – Sri Lanka’s Treasuries yield were flat across maturities at Wednesday’s auction with 12 billion rupees of bills maturing and 11. 9 billion rupees of bids being accepted from the market, the government’s debt office said. The government sold 3.1 billion rupees in 3-month bills, 4. 4 billion ripees in 6-month […]
‘s top lenders in 2010; China, capital markets
Nov 24, 2010 (LBO) – China has become Sri Lanka’s top bilateral lender up to September 2010, displacing Japan both in commitments and disbursements, but international capital markets dwarfed traditional lenders via billion dollar bond a month later. The government was now sitting on an aid pipeline of 6,968 million US dollars which included 1,156. […]
Sri Lanka beachfront investment next week: Treasury Secy
Nov 24, 2010 (LBO) – Sri Lanka is expecting up to 500 million US dollars of investments on a key beachfront re-development in Colombo with the first project to take off as early as next week, finance ministry secretary P B Jayasundera said. Development of the Galle Face area, Colombo’s most prominent beachfront, is part […]
Sri Lanka wages to rise as unemployment falls: official
Nov 24, 2010 (LBO) – Sri Lankan business should be ready to pay higher wages as unemployment had come down, and youth becoming more educated and eager to find jobs abroad, a top Treasury official said. And better educated youth were seeking jobs abroad. “Also, our labour market is no longer only here,” Jayasundera said. […]
Sri Lanka stocks end up 0.1-pct
Nov 24, 2010 (LBO) – Sri Lankan stocks ended slightly higher Wednesday, shedding some of the morning gains at the close, with some big private deals on selected stocks, brokers said. Another private deal in Colombo Dockyard of a million shares was done at 292 rupees each. The stock closed at 290, up a rupee. […]
Sri Lanka gets most FDI for telecoms in first half 2010
Nov 23, 2010 (LBO) – Sri Lanka has received 208 million US dollars as foreign direct investments in the first half of 2010, with telecoms leading with 85 million US dollars, followed by manufacturing at 56 million US dollars, the Central Bank said. “Of the manufacturing sector, food, beverages and tobacco products; textile, wearing apparel […]
Sri Lankans allowed to buy foreign equity, foreigners to buy private bonds
Nov 23, 2010 (LBO) – Sri Lankan individuals and unlisted firms will be allowed to buy foreign listed stocks for up to 100,000 US dollars a year and listed companies could buy up to 500,000 dollars worth a year, Central Bank Governor Nivard Cabraal said. A central bank that prints money has to allow the […]
Sri Lankan firms can sell rated debt to foreigners: Central Bank
Nov 23, 2010 (LBO) – Sri Lankan firms can sell corporate debt to foreign buyers provided the securities are rated and not priced over 200 basis points over the benchmark sovereign yields, Central Bank governor Nivard Cabraal said. Sri Lanka has a pegged exchange rate which could result in excess capital flows, if the country […]
Sri Lanka stocks close down 0.9-pct
Nov 23, 2010 (LBO) – Sri Lanka stocks closed down 0.95 percent Tuesday, with low institutional and high-net-worth individual interest shown in the market, brokers said. The All Share Price Index closed at 6,454.18, down 0.95 percent (61.62 points) while the Milanka index of liquid stocks dipped 1. 38 percent (97.55 points) to close at […]