Category: Economy and Markets
Sri Lanka moves to free prime property in capital
Apr 16, 2010 (LBO) – Prime property in Sri Lanka’s capital Colombo could be made available to private developers when the government goes ahead with a planned shift of state institutions, including defence, to the suburbs, officials said. “We’re waiting for the green light,” said an official of the Urban Development Authority, which is in […]
Sri Lankan stocks end 0.28-pct up, Keells Hotels heavily traded
Apr 16, 2010 (LBO) – Sri Lankan stocks closed up Friday on price gains on mid- and small-cap stocks despite price drops in selected high value shares, while high institutional interest on John Keells Hotels pushed turnover past a billion rupees, brokers said. The All Share Price Index closed at 3,966.87, up 11.04 points, while […]
Sri Lanka gets ADB help to get more taxes, spend better
Apr 16, 2010 (LBO) – The Asian Development Bank said it will give Sri Lanka a 50 million US dollar loan to improve government revenue management, including tax collection, and state spending on infrastructure and the poor. It said in a statement that the ADB and Japan will support Sri Lanka with fiscal reforms to […]
”’ economic recovery
WASHINGTON, April 15, 2010 (AFP) – Federal Reserve chief Ben Bernanke warned on Wednesday the US economy will recover at a “moderate” pace and that significant time will be needed to claw back jobs lost in the recession. In cautious remarks that belied Wall Street’s gathering optimism, Bernanke cautioned that the US economy continued to […]
Sri Lanka gets $150mn ADB emergency loan
Apr 15, 2010 (LBO) – The Asian Development Bank (ADB) said it is providing 150 million US dollars in an emergency loan to Sri Lanka for projects to help people in the war-ravaged north and east. The loan will have a 32-year repayment term, including a grace period of eight years and an annual interest […]
Sri Lanka shares end down 0.07-pct
Apr 15, 2010 (LBO) – Sri Lankan stocks closed weaker Thursday, easing off record highs on thin volumes as investors took a break for the traditional New Year celebrations in a short trading week, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
” petroleum price formula: Central Bank
April 14, 2010 (LBO) – Sri Lanka needs a price formula to match import costs to retail prices as a part of a reform of the energy sector, the Central Bank said as the state petroleum utility lost 12. 3 billion rupees in 2009. “A realistic pricing formula needs to be developed to price petroleum […]
Sri Lanka shares end up 0.49-pct
Apr 12, 2010 (LBO) – Sri Lankan stocks closed firmer Monday with some large deals done while activity petered off towards the end of trading ahead of a long holiday this week although sentiment remained positive, brokers said. “Investors are placing buy orders but at lower levels compared to prevailing prices.” There were several large […]
Sri Lanka Treasuries flat ahead of traditional New Year
Apr 12, 2010 (LBO) – Sri Lanka’s Treasury bills yields were flat at Monday’s auction, held early ahead of a two-day holiday for a traditional New Year, following a fully rejected auction a week earlier. The government’s debt office said 3-month bills were sold at 8. 52 percent, 6-month bills at 9.24 percent and 12-month […]
Sri Lanka poverty subsidy helping not only the poor: CBSL
Apr 12, 2010 (LBO) – A Sri Lankan poverty alleviation subsidy programme provides benefits to well over a quarter of the people, an unrealistically high number, and not only the poor, the Central Bank has said. “The potential for linking some of these food programmes with community-driven development programmes needs to be explored as malnutrition […]
IMF chief says no to higher inflation to reduce debt
Apr 11, 2010 (LBO) – The head of the International Monetary Fund played down suggestions that inflation should be raised to slash the real value of state debt, but said future growth should be used cut the burden. Strauss-Khan said public debt in advanced economies were forecast to rise about 35 percentage points to about […]
Sri Lanka lose 39,000 industrial jobs
Apr 09, 2010 (LBO) – Sri Lanka has lost 39,700 industrial jobs and 136,000 agricultural jobs in the fourth quarter of 2009 from a year earlier but gained 56,200 service jobs, a government survey showed. There was a 16,600 nnet gain in non-farm jobs in the last quarter from a year earlier, a quarterly labour […]