Category: Economy and Markets
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 […]
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 […]
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 […]
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 […]
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 Lankan stocks close down 0.35-pct
July 09, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from Thursday’s gains, while low value shares continued to dominate market volumes, brokers said. The All Share Price Index closed at 4,505.69, down 15.71 points, while the Milanka index of more liquid shares dipped 0. 38 percent (19.22 points) to […]
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 […]
Sri Lanka T-bill yields steady
July 08, 2010 (LBO) – Sri Lanka’s Treasury bill yields were steady at this week’s auction with the 3-month yield flat at 8. 07 percent, the 06 month climbing 03 basis points to 8. 96 and the 12-month yield flat at 9.29 percent, the government’s debt office said. The debt office, which is a unit […]
Sri Lanka shares recover
July 08, 2010 (LBO) – Sri Lankan stocks closed higher Thursday, recovering after five consecutive trading days of losses with a private deal in shares of a commercial bank dominating the day’s turnover, brokers said. The All Share Price Index closed at 4,521.40, up 1.13 percent (50.62 points) while the more liquid Milanka index rose […]
Sri Lankan stocks plunge 1.68-pct
July 07, 2010 (LBO) – Sri Lankan stocks plunged 1.6 percent Wednesday as retail buyers sold out amid weak support institutional buyers and state funds stayed on the sidelines, brokers said. The All Share Price Index closed at 4,470.78, down 76.40 points, while the more liquid Milanka index dived 1.88 percent (96.62 points) to close […]
Sri Lanka developing concept plan for Colombo
July 07, 2010 (LBO) – Sri Lanka is drawing up a concept plan to develop Colombo city, clear under-utilized area, reclaim land from the sea and open them for development by the private sector, officials said. Treasury secretary P B Jayasundera said plans for a ‘new city’ reclaimed out of the sea would be announced […]
Sri Lanka to push up investment levels with stability, low deficits: Treasury secretary
July 07, 2010 (LBO) – Sri Lanka will maintain public investment at around 6 percent of gross domestic product and will attempt to kindle private investment five times that by creating an environment for people to invest, an official said. “Government will invest in areas not very attractive to the private sector,” Treasury secretary P […]