Category: Economy and Markets
Sri Lanka forum to help politicians help people
Dec 15, 2009 (LBO) – A public seminar is to be held to educate politicians and their economic advisors on how best to meet the needs of people, ahead of scheduled elections in January. The seminar – ‘Unleashing the people’s potential: what should be done?’- will present the findings of a study and policy recommendations […]
Sri Lanka north to put on business expo
Dec 14, 2009 (LBO) – Sri Lanka is to host its first ever business expo in the North of the island, following the end of the country’s over three decade war. The expo is to be held from April 18 to April, 20 2010 at the Jaffna Central College. The trade fair is expected to […]
Sri Lanka holds policy rates, despite inflation pick up
Dec 14, 2009 (LBO)- Sri Lanka’s central bank said it was holding its key policy rate at which money is injected to the economy at 9.75 percent, and the rate at which money is drained at 7.50 percent, to support credit growth, despite a pick up in inflation. “Prospects for domestic economic activity have improved […]
Sri Lanka current account in surplus amid economic slump
Dec 14, 2009 (LBO) – Sri Lanka’s external current account is expected to swing into a surplus in 2009, for the first time since 1977, the central bank said, as the island was gripped by a severe trade contraction and economic slump. The central bank has locked up over five billion US dollars in reserves […]
Sri Lankan stocks close 0.55-pct down
Dec 14, 2009 (LBO) – Sri Lankan shares closed down Monday as retail investors stayed away owing to political uncertainty, while a large tranche of Asiri Hospital and John Keells Holdings (JKH) shares boosted market volumes, brokers said. The All Share Price Index closed at 3,039.78 down 0.55 percent (16.86 points) while the Milanka Price […]
Sri Lanka business says worker training key in former war zone
Dec 11, 2009 (LBO) – Sri Lanka’s former war zones in the north and east need vocational training to raise worker productivity, corporate leaders have told a visiting American diplomat.Better water supply and cold storage facilities to bring fresh produce to markets were also critical requirements, they told US Assistant Secretary of State Robert Blake […]
Sri Lankan shares dip 0.11-pct on retail profit taking
Dec 11, 2009 (LBO) – Sri Lankan stocks closed down Friday as retail investors took profits from gains made during the week, while volumes dropped owing to lack of foreign participation, brokers said. The All Share Price Index closed at 3,056.64 down 0.11 percent (3.37 points) while the Milanka Price Index of more liquid stocks […]
Sri Lankan stocks 0.24-pct up
Dec 10, 2009 (LBO) – Sri Lankan shares closed up Thursday while high volume trading on Commercial Bank of Ceylon shares boosted turnover levels, brokers said.Sri Lanka’s largest celco Dialog Telekom, a unit of Telekom Malaysia closed flat at 7.00 rupee, and the largest fixed line operator Sri Lanka Telecom closed at 43.50 rupees, up […]
Lack of evidence based policy making can be disastrous: Sri Lanka policy forum
Dec 10, 2009 (LBO) – Ad hoc public policy formulation can be disastrous and both China and India are evolving evidence based processes to back effective government action, academics and researchers said at a policy forum in Colombo.“The strategic direction is set by the Party and State Council and the People’s Congress makes legislation,” Xue […]
Sri Lanka Treasuries move up
Dec 09, 2009 (LBO) – Sri Lanka’s three and six month Treasury bill yields moved up for the second week running, the government’s debt office said, as fiscal policy loosened ahead of elections and private sector credit started to expand. The 3-month yield moved up 11 basis points to 7.51 percent and the 6-month bills […]
Sri Lanka shares close flat
Dec 09, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as investors took profits from recent gains, while high volume trading on John Keells Holdings (JKH) and Nations Trust Bank helped to pushed turnover up, brokers said.The banking sector has been one of the best performers in the last few weeks, so profit taking […]
Sri Lanka central bank in 5-year investment horizon for gold
Dec 07, 2009 (LBO) – Sri Lanka is looking at a 5-year horizon for its reserve investments in gold, Central Bank governor Nivard Cabraal said as gold hit historic highs against the dollar amid unprecedented US money printing.Gold hit 1,200 against the Federal Reserve unit amid unprecedented loose monetary policy pursued by the Fed. There […]