Category: Economy and Markets
Sri Lanka treasuries yields up
Jan 06, 2010 (LBO) – Sri Lanka’s Treasury bill yields edged up marginally across maturities at Wednesday’s auction, the government’s debt office said. The 3-month yield moved up 04 basis points to 7. 77 percent, the 6-month yield also moved up 04 basis points to 8.77 percent and the 12-month yield moved up 02 basis […]
Sri Lankan farmers link up with private companies for better prices
Jan 06, 2009 (LBO) – Sri Lankan farmers in Anuradhapura have linked up with supermarket chains Keells and Plenty Foods, giving them better prices and steady markets for their produce. The renovated centre will also benefit 3000 members of the Kebithigollawa Integrated Rural Development Organization through increased revenues as a result of this program and […]
Sri Lanka shares close down 0.30-pct, Rajaratnam sells JKH stake
Jan 06, 2010 (LBO) – Sri Lankan stocks closed lower Wednesday, with US fund manager Raj Rajaratnam selling part of his stake in John Keells Holdings (JKH) and retailers buying into hotels stocks on increasing tourist arrivals, brokers said. Aitken Spence Hotel Holdings closed at 299.75, up five rupees, Asian Hotels & Properties ended at […]
Sri Lanka central bank warns against reckless spending
Jan 05, 2010 (LBO) – Sri Lanka may be forced to print money and send inflation up again unless the state avoids reckless spending, which also takes away resources available for productive activities by the people, Central Bank Governor Nivard Cabraal has warned. “We have to be conscious that any money printing that can take […]
Sri Lanka stocks close up 1.10-pct on blue chips gains
Jan 05, 2010 (LBO) – Sri Lanka’s benchmark All Share Price Index (ASPI) passed the 3,500 point mark for the first time Tuesday, on strong retail buying with blue chip stocks continuing to make gains, brokers said. Aitken Spence Hotels closed at 294.75 rupees, up 6.25, Galadari Hotels closed at 16.50 rupees, up 1.00, Hotel […]
Sri Lanka to relax foreign exchange controls: CB Governor
Jan 04, 2010 (LBO) – Sri Lankans would be allowed to open bank accounts abroad and buy shares and debt of foreign companies as part of a relaxation of foreign exchange controls, Central Bank governor Nivard Cabraal said. Foreign exchange ‘shortages’ crop up when a central bank ‘prints money’ (generates local money by purchasing domestic […]
Sri Lanka economy to grow 3.5-pct in 2009: CB Governor
Jan 04, 2010 (LBO) – Sri Lanka’s economy is expected to grow by 3.5 percent in 2009 after it slowed down owing to global recession, with revenue picking up and exports seen recovering, Central Bank governor Nivard Cabraal said. Cabraal said the full integration of the north and east which had been affected by war […]
Sri Lanka targets 5 to 6-pct inflation in 2010
Jan 04, 2010 (LBO) – Sri Lanka is targeting 5 to 6 percent average inflation by end-2010 allowing the country’s base money to grow by 14.5 percent, building on low single digit inflation achieved in 2009, Central Bank governor Nivard Cabraal said. Sri Lanka ended 2009 with seasonally adjusted annual average inflation of 3.4 percent, […]
Sri Lanka stocks up 2.84-pct
Jan 04, 2010 (LBO) – Sri Lankan stock closed the first day of trading for the year up 2.84 percent Monday with retail investors chasing diversified, manufacturing and banking sector stocks, brokers said. Ceylon Tobacco Company closed at 200. 00 rupees, up 15.00, Distilleries Company of Sri Lanka closed at 109. 00 rupees, up 3.75 […]
Sri Lanka govt deceiving people on taxes: TI
Jan 01, 2010 (LBO) – Sri Lanka’s government should ensure greater public awareness of taxes it imposes on the people and not deceive them through lack of transparency, the local arm of an international watchdog has said. Provisions which create the deception that a government can raise money to spend without taxing the people should […]
Sri Lanka central bank defends controversial note
Dec 31, 2009 (LBO) – Sri Lanka’s central bank has defended a controversial 1,000 rupee note bearing the image of president Mahinda Rajapaksa, ahead of presidential polls, which had come under fire from the opposition and other critics. Critics had slammed the note as an ‘election handbill’, and that a group of soldiers at the […]
Sri Lanka inflation accelerates in December
Dec 30, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 4.8 percent in December from a year ago, against 2.8 percent in November, indicating inflation is picking up, the government’s statistics office and analysts said.In the month of December the revised Colombo Consumer Price Index (CCPI) rose 1.2 percent, higher than the […]