Category: Economy and Markets
Sri Lanka mobile users up 30-pct in first quarter
July 15, 2010 (LBO) – Sri Lanka’s mobile phone subscribers grew 30 percent to 15. 0 million in the first quarter of 2010, while fixed wireless users grew 4.7 percent and wireline users were flat, official data show. Fixed wireless subscribers grew to 2. 58 million users in the first quarter from 2. 47 users […]
Sri Lankan stocks close up 0.84-pct
July 15, 2010 (LBO) – Sri Lankan stocks closed higher Thursday from price gains on manufacturing, hotel, hospital and banking shares, while retail investors continued to trade on speculative ‘penny’ stocks, brokers said. The All Share Price Index closed at 4,638.71, up 38.49 points, while the Milanka index of more liquid shares rose 0.99 percent […]
Sri Lanka bond prices to be made transparent
July 14, 2010 (LBO) – Sri Lanka’s bond prices will be made more transparent and a sovereign yield curve for the country is being developed with the country’s central bank Bloomberg, an international financial news and information provider said. The yield curve has become more market driven of late though some state-centric incestuous practices such […]
Sri Lanka Treasuries fall after rate cut
July 14, 2010 (LBO ) – Sri Lanka’s Treasuries yields fell Wednesday in the wake of a 25 basis point rate cut the previous Friday, according to auction results released by the government’s debt office. The 3-month yield fell 9 basis points to 7.98 percent, the 6-month yield fell 21 basis points to 8. 75 […]
Sri Lankan shares close up 0.97-pct
July 14, 2010 (LBO) – Sri Lanka stocks closed up Wednesday as investors re-entered the market looking for bargains, while ‘penny’ stocks continued to be actively traded despite wide price fluctuations, brokers said. Seylan Merchant Bank closed at 1.70 rupees, down 10 cents with over 11 million shares traded, while Piramal Glass of Ceylon closed […]
IMF to hire more Asians
Daejeon, KOREA July 14, 2010 (LBO) – The International Monetary Fund (IMF) plans to hire more Asians as it undergoes reforms and seeks to improve relations with Asia which is increasing its economic clout, a senior official said. Strauss-Kahn said that now 40 percent of his management team is from Asia. “So among the management […]
Sri Lankan stocks close up 0.48-pct
July 13, 2010 (LBO) – Sri Lankan shares closed up Tuesday as investor interest on midcap stocks pushed the market up, while high volume trading on John Keells Holdings (JKH) boosted turnover, brokers said. The All Share Price Index closed at 4,555.83, up 21.88 points, while the Milanka index of more liquid shares rose 0.63 […]
IMF facilities seen as alternative for forex reserves
Daejeon, KOREA July 13, 2010 (LBO) – The International Monetary Fund (IMF) is considering creating new lending facilities to help countries cope with economic shocks and avoid the need to build costly foreign exchange reserves, officials said. Senior official from the IMF and South Korea, which is pushing the idea, said such a ‘global safety […]
South Korea presses for IMF reforms
Daejeon, KOREA July 12, 2010 (LBO) – The finance minister of South Korea, which is hosting an International Monetary Fund conference on Asia, pressed for reforms of the multi-lateral institution and its support to prevent destabilizing capital flows. “Up until now, it seems the IMF has not fully assumed its role of ensuring macro-economic stability […]
Sri Lankan stocks recover
July 12, 2010 (LBO) – Sri Lankan stocks closed up Monday as midcap and index heavy stocks made gains, while keen investor interest on Lanka Hospitals pushed its share price by over 50 percent, brokers said. Conglomerates, Aitken Spence closed at 1,563.00 rupees, up 62.75 on thin trading volumes, Hayleys closed flat at 300. 00 […]
Asia must brace for choppy capital flows: IMF warns at Korea forum
Daejeon, KOREA July 12, 2010 (LBO) – Asian economies must prepare to face huge and highly volatile capital flows and possibly more economic shocks given recent problems in Europe, the International Monetary Fund has warned. The sharp rebound in capital inflows, and related risks of overheating and credit and asset bubbles, remain key challenges for […]
Sri Lanka relaxes monetary policy
July 09, 2010 (LBO) – Sri Lanka has relaxed monetary policy cutting rates by 25 basis points and raising its target from reserve money, the narrowest money supply through which final transaction in the economy are cleared. The central bank cut its reverse repo rate to 9.50 percent and the repo rate to 7. 25 […]