Category: Economy and Markets
Hong Kong gold hits record high
HONG KONG, September 17, 2010 (AFP) – The price of gold struck a record high above 1,280 US dollars an ounce in Hong Kong trade on Friday. Gold is seen as a safe haven investment and also a hedge against inflation. The precious metal rose to 1,280. 20 US dollars an ounce in afternoon trading, […]
‘s economic rise: IMF
JAKARTA, September 17, 2010 (AFP) – The International Monetary Fund warned Friday Indonesia must make fighting corruption a priority if it wants to build on its progress as one of the world’s best-performing economies. Southeast Asia’s biggest economy expanded 4.5 percent in 2009, the third fastest in the Group of 20, and is poised for […]
Sri Lankan stocks close up 1.69-pct
Sept 16, 2010 (LBO) – Sri Lankan stocks recovered to pass the 6,300 points mark Thursday, from price gains on index heavy and midcap stocks, while Hotel Reefcomber shares continued to be heavily traded, brokers said. Nations Trust Bank closed at 84. 00 rupees, up 7.60 with 2.88 million shares changing hands, brokers said. The […]
Sri Lanka to rebuild fishery harbours in war-torn north
Sept 16, 2010 (LBO) – Sri Lanka will rebuild two fishery harbours in the north of the island as part of a strategy to develop maritime resources in the region which is recovering from a war, a government minister said. “This is a clear indication of the governments vision in moving forward in the development […]
Sri Lanka economy grows 8.5-pct: statistics office
Sept 16, 2010 (LBO) – Sri Lanka’s economy is estimated to have grown by 8.5 percent during the second quarter of 2010 from a year earlier, which is the highest quarterly growth rate recorded since 2002, the government’s statistics office said. Higher costs had reduced chicken production by 5.2 percent and eggs by 0.9 percent. […]
Sri Lanka stocks close up 1.03-pct
Sept 15, 2010 (LBO) – Sri Lankan shares closed higher Wednesday with heavy trading in low value shares, brokers said. The All Share Price Index closed at 6,238.45, up 1.03 percent (63.39 points) while the more liquid Milanka index rose 0. 56 percent (36.45) to close at 6,488.71, according to stock exchange provisional figures. Turnover […]
Japan intervenes in forex markets for first time since 2004
TOKYO, September 15, 2010 (AFP) – Japan on Wednesday intervened in currency markets for the first time since 2004 in a bid to stem the yen’s appreciation against the dollar, Finance Minister Yoshihiko Noda said. The dollar had hit a fresh 15-year low of 82. 86 yen in Tokyo before gaining sharply following the intervention, […]
Sri Lanka securities watchdog halts broker credit
Sept 15, 2010 (LBO) – Sri Lanka’s Securities and Exchange Commission has ordered brokering firms to “absolutely refrain” from giving credit for clients to trade in stocks as rising prices reduced the immediate risk of delaying payment. In Sri Lanka purchases have to be settled in three days (T+3). However clients could continue to get […]
Sri Lankan stocks close up 0.72-pct
Sept 14, 2010 (LBO) – Sri Lankan stocks continued their rally to close at a new high Tuesday, on price gains on selected midcap stocks on low volume trading, while Distilleries Company, Richard Pieris and Aitken Spence boosted turnover, brokers said. Distilleries Company of Sri Lanka, another index heavy share closed at 184.00 rupees, up […]
Sri Lanka half-year budget deficit on track
Sept 14, 2010 (LBO) – Sri Lanka budget deficit up to June 2010 is on track with projected numbers though deficit monetization in subsequent weeks points to greater net cash deficits, official data show. Tax revenues picked up 16.0 percent to 309 billion rupees in the first six months of the year from a year […]
” to begin in October
Sept 14, 2010 (LBO) – Sri Lanka’s statistics office has completed most of the preliminary work to conduct its first island-wide population count in 30-years with a ‘pilot census’ to begin in October, an official said. The census office started piling work a new building in Battaramulla, near Sri Lanka’s parliament Tuesday. The 62 year […]
Cuba to axe one million state jobs
HAVANA, September 14, 2010 (AFP) – Cuba has announced plans to slash one million state jobs and encourage the growth of its emerging small business sector in a gamble it hopes can keep its communist system and floundering economy afloat. Workers laid off from government jobs will no longer be sent home with partial pay, […]