Category: Economy and Markets
Trio of labour market specialists wins 2010 Economics prize
STOCKHOLM, October 12, 2010 (AFP) – Three labour market experts, including one blocked for a top post at the US Federal Reserve, won the 2010 Nobel Economics Prize Monday for research that has had an impact on employment reforms worldwide. The Nobel jury said the work of Peter Diamond and Dale Mortensen of the United […]
Sri Lanka stocks fall 4.4-pct
Oct 12, 2010 (LBO) – Sri Lanka’s benchmark share index plunged 4.4 percent Tuesday wiping out 95 billion rupees off stock values in a steep correction amid some margin calls on retail investors brokers said. The index is now down 8.5 percent from an October 01 peak of 7,147 points. Sri Lanka is still the […]
Sri Lanka fund manager sells capital protected plan
Oct 12, 2010 (LBO) – Sri Lanka’s largest fund management firm is selling an investment plan which allows cautious savers participate in a stock market upside but be protected from a steep fall by putting the bulk of the money in debt. “If you are an investor who wants higher returns (because interest rates are […]
Sri Lanka to shift away from quantity targets: CB Governor
Oct 11, 2010 (LBO) – Sri Lanka is “unlikely” to announce direct targeting of reserve money next year and will rely more on “traditional instruments” as the country moves gradually to target inflation directly with rates, central bank Governor Nivard Cabraal said. But under such a framework interest rates can be volatile, because the quantity […]
Sri Lankan stocks close flat
Oct 11, 2010 (LBO) – Sri Lankan stocks closed flat after early morning gains were lost brokers said, while a large deal on Aitken Spence pushed turnover to almost seven billion rupees. The All Share Price Index closed at 6,834.61, up 0.01 percent (1.00 points), while the more liquid Milanka index fell 0. 11 percent […]
Sri Lanka state sell-down proposals spell new direction
Oct 09, 2010 (LBO) – Planned sell-downs of two state enterprises charts a new direction in Sri Lanka’s post-war economic strategy that can make state firms more transparent and also boost capital markets, analysts said. During the year the firm had given back 4,000 billion rupees to the parent in a share-buy back, which earned […]
Sri Lankan stocks close up 0.93-pct
Oct 08, 2010 (LBO) – Sri Lankan stocks recovered from a four day fall Friday on buying interest in midcap stocks, while index heavy weight John Keells Holdings (JKH) continued to slide, brokers said. The All Share Price Index closed at 6,833.61, up 0.93 percent (62.87 points), while the more liquid Milanka index rose 0.72 […]
Sri Lanka official forex reserves exceed US$7bn: central bank
Oct 07, 2010 (LBO) – Sri Lanka’s gross official reserves surpassed the seven billion US dollars level on October 04, the central bank said in a statement. The level of reserves is equivalent to over 6. 8 months of imports and is the highest ever reserves level of Sri Lanka, it said. On October 05 […]
Sri Lanka economic parley to mull growth strategies
Oct 07, 2010 (LBO) – Growth strategies needed to improve Sri Lanka’s economic climate and raise living standards by reducing income inequality will be discussed at a conference of economists later this month, a senior economist said The annual sessions of the Sri Lanka Economic Association will cover development of physical and social infrastructure, enhancing […]
Sri Lanka stocks close down 1.34-pct
Oct 07, 2010 (LBO) – Sri Lankan shares closed lower Thursday, down for the fourth straight day, after a roller-coaster ride that saw the market plunge steeply on opening, bounce back and then fall on profit-taking, brokers said. The All Share Price Index closed at 6,770.74, down 1.34 percent (91.93 points) while the more liquid […]
Sri Lanka made right decision on gold: Central Bank Governor
Oct 06, 2010 (LBO) – Sri Lanka made the right decision in increasing the gold component of reserve assets, Central Bank Governor Nivard Cabraal said as gold prices hit fresh highs on loose US monetary policy that is driving the dollar down as well as higher real demand. About 11 percent of the central bank’s […]
Sri Lanka says met IMF targets, mission in November
Oct 06, 2010 (LBO) – Sri Lanka has met key quantity targets in September for foreign reserves, local borrowing and money creation limits, under a deal with the International Monetary Fund, the Central Bank said. Sri Lanka has not yet released the IMF staff review of the economy was given to the board of the […]