Category: Economy and Markets
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 […]
Sri Lankan shares close up 0.86-pct
Dec 30, 2009 (LBO) – Sri Lankan shares ended an eventful 2009 at a record high of 3,385.55 points, up 0.86 percent (28.96 points) Wednesday, and up 128 percent for the year, outperforming all other exchanges except Russia, brokers said.Hatton National Bank closed at 170.25 rupees, up 2.25, Sampath Bank closed at 204.25 rupees, up […]
Sri Lanka Treasuries yields move up
Dec 29, 2009 (LBO) – Sri Lanka’s Treasuries yields edged up marginally across maturities at Tuesday’s auction, while the rollover was oversubscribed two times, the government’s debt office said.The short term paper received bids worth 17,285 million rupees at the auction, it said. The 3-month yield rose 06 basis points to 7.73 percent, the 6-month […]
Sri Lankan shares close up 0.57-pct
Dec 29, 2009 (LBO) – Sri Lankan shares closed up Tuesday as investors bought further into high net worth counters before year end, while brokers said the current positive sentiment would generate further buying interest in 2010. The Colombo all share price index (ASPI) ended at 3,363.81, up 0.57 percent (18.92 points) while the more […]
Sri Lanka gets World Bank funds for rural village
Dec 28, 2009 (LBO) – The World Bank (WB) has approved 75 million dollars to fund the second stage of community development and livelihood improvement targeting 875 of the poorest villages in the country, a government minister said. The community development project would be implemented under the Ministry of Nation Building and Estate Infrastructure Development, […]
” to senior citizens as rates fall
Dec 28, 2009 (LBO) – Sri Lanka will give ’20 percent bonus’ interest for senior citizens as interest rates fell steeply over the past year on a scheme announced by the country’s president, a media report said.The Sunday Island newspaper said the Central Bank is preparing operating instructions for banks, which may be limit payments […]
Sri Lanka stocks re-rated upwards, up 122-pct
Dec 28, 2009 (LBO) – Sri Lankan retail stock buyers are focusing on mid capitalised firms while high net worth investors are chasing blue chips up in a fresh re-rating of the market, which is up 122-pct so far this year, analysts said. “The traders will be slowly shifting towards midcap stocks expecting prices to […]
‘s decade reoriented the world: analysts
HONG KONG, December 27, 2009 (AFP) – Explosive growth in economic and political power ensured that the past 10 years set the foundations for what many analysts predict will be the Asian Century as the world tilts firmly eastwards.Many dangers lie ahead, but observers say the world’s two most populous countries — China and India […]
Sri Lanka opposition presidential candidate defends economic prowess
Dec 26, 2009 (LBO) – Sri Lanka’s opposition presidential candidate, a former military general, defended his ability to manage the economy in a future administration saying he had the backing of the main opposition United National Party.The suffering of the people under a 1970s administration, where money printing led to price controls and shortages, largely […]
Sri Lanka labour force growth to lag region
Dec 26, 2009 (LBO) – Sri Lanka’s labour force has grown an average 1.0 percent from 1990 to 2008, and is projected to grow by only 0.3 percent a year till 2020 trailing other Asian nations, with low female participation, a government report has said. “This is driven by expected declines in the adult male […]
Sri Lanka gets Chinese funds to build international airport
Dec 25, 2009 (LBO) – Sri Lanka has signed up 410 million US dollars of funding from China including money to build an international airport in the south of the island, a foreign ministry statement said.Sri Lanka’s finance ministry secretary P B Jayasundera and China’s vice minister of commerce, Chen Jian had signed thee deals […]
Sri Lanka opposition state salary hike promise a big burden on people: minister
Dec 24, 2009 (LBO) – A steep state worker salary hike promised by opposition presidential candidate Sarath Fonseka would require 132 billion rupees to be extracted from the people through taxes each year, a government minister has warned.State revenue minister Ranjith Siyambalapitiya told reporters that the monthly salary bill of state workers was now 28 […]