Category: Economy and Markets
Sri Lanka stockbroker stirs up storm by calling for end to dissent: report
Oct 27, 2010 (LBO) – A call by a stockbroking firm to immediately identify and eliminate “traitors” who may question a “noble” government goal of making the “motherland” a financial hub of South Asia, has stirred up a storm, a media report said. Sri Lanka’s Daily FT business daily said the call was contained in […]
Sri Lanka mulls IT use in tax reforms
Oct 27, 2010 (LBO) – A report on reforms to Sri Lanka’s complex national and regional taxes has recommended using information technology to make it easier to charge and pay taxes, a statement from the president’s office said. The report by the presidential commission on taxation was handed over to President Mahinda Rajapaksa Tuesday after […]
Sri Lanka to regulate OTC debt
Oct 27, 2010 (LBO) – Sri Lanka will regulate over-the-counter debt securities by specifying disclosure requirements, a regulatory official said, amid warnings that liquid markets and low interest rates were increasing risk taking. “We are very mindful of the need to regulate the unlisted securities market,” director of capital market development at the Securities and […]
Sri Lanka stocks close up 0.17-pct
Oct 27, 2010 (LBO) – Sri Lanka’s stocks closed up Wednesday, recovering from a dip in mid-morning trade, brokers said. There were 93 gainers and 88 losers, today. The Colombo All Share Index rose 0. 17 percent (10.84 points) to 6,557.00 points, while the Milanka Index of more liquid stocks dipped 0.23 percent (16.05 points) […]
Sri Lanka seen slightly less corrupt
Oct 27, 2010 (LBO) – Sri Lanka has marginally improved its score in a global corruption index but governance is still so bad that it ranks among other countries seen to be very corrupt, a statement said. “The score indicates that these countries continue to have a serious corruption problem in their public sector.” In […]
Sri Lanka stocks close down 1.31-pct
Oct 26, 2010 (LBO) – Sri Lanka stocks closed down, dragged down by index heavy stocks like John Keells Holdings and Aitken Spence, brokers said. JKH closed at 295.90 rupees, down 6.10 (2.02 percent) while Aitken Spence closed at 182.20 rupees, down 0.50 (0.27 percent). Corrected – Sampath Bank share price There were 33 gainers […]
Sri Lanka lifts price controls on rice
Oct 26, 2010 (LBO) – Sri Lanka has lifted price controls on rice originally imposed to prevent a sharp price spike caused by low harvests and state controls that prevented imports from coming in to stabilize prices. The government’s information office said the consumer affairs authority has lifted a 70 rupee per kilogram price cap […]
Sri Lanka stocks close down 0.79-pct
Oct 25, 2010 (LBO) – Sri Lanka stocks closed down Monday, dragged down by index heavy stocks like John Keells Holdings (JKH) and Aitken Spence, brokers said. Sampth bank closed at 295.10 rupees, up 21.50 (7.86 percent) while HNB, closed at 407.00 rupees, up 6.70 (1.67 percent). There were 53 gainers and 148 losers. The […]
Singapore, Australian bourses to form new trading powerhouse
SINGAPORE, October 25, 2010 (AFP) – The Singapore and Australian stock exchanges on Monday announced a multi-billion dollar merger that will create one of the world’s largest and most diversified financial trading hubs. Singapore’s SGX offered 8.2 billion US dollars to take over Australia’s ASX to form ASX-SGX Ltd, which will be the world’s fifth […]
Sri Lanka stocks close up 0.33-pct
Oct 21, 2010 (LBO) – Sri Lanka stocks closed up 0.3 percent Thursday, with buying interest coming for banking sector stocks, brokers said. The benchmark Colombo All Share Index closed up 0.33 percent (21.77 points) at 6,685.99 points, while the Milanka Index of more liquid stocks rose 0. 59 percent (42.43 points) to 7,270.80 according […]
US disruption of China currency will be disastrous: Steve Hanke
Oct 21, 2010 (LBO) – A sudden appreciation of the Chinese currency, which is sought by the US, could disrupt China’s economy and the world, rather than increasing the demand for American exports, a top monetary economist has warned. “Using the authority granted by the Thomas Amendment of 1933 and the Silver Purchase Act of […]
” to fiscal prudence hailed
Oct 21, 2010 (LBO) – Sri Lanka has made a ‘re-commitment’ to fiscal prudence and a promotion of public private partnerships is a pragmatic recognition of private sector strengths that will help improve finances, a top economist and retired public servant had said. Former central bank governor A S Jayewardene said a recent speech by […]