Category: Economy and Markets
IMF sells two tonnes of gold to Mauritius
WASHINGTON, November 17, 2009 (AFP) – The International Monetary Fund announced Monday it has sold two tonnes of gold to the central bank of the Indian Ocean island of Mauritius for nearly 72 million dollars.The sale came as gold prices surged Monday to an all-time high of 1,136.72 dollars per ounce. The sale to Mauritius […]
Sri Lanka rupee opens stronger
Nov 17, 2009 (LBO) – Sri Lanka’s rupee opened stronger against the US dollar with a state bank that usually acts for the monetary authority buying at 114.25 Tuesday up from yesterdays 114.35 levels, dealers said. Sri Lanka’s rupee was pegged at 114.80 levels for most of the year following float in March that got […]
Sri Lankan stocks close flat; rupee up
Nov 16, 2009 (LBO) – Sri Lanka stocks closed flat Monday as investors on the back foot awaiting political developments, while the rupee strengthened against the greenback broker and dealers said.Conglomerate John Keells Holdings closed at 143.25 rupees, down 1.75, and Distilleries Company of Sri Lankan closed at 95.00 rupees, down 25 cents. Commercial Bank […]
Sri Lanka state revenues up in September, but may miss revised targets
Nov 16, 2009 (LBO) – Sri Lanka’s state revenues rebounded to 522.0 billion rupees in September 2009 up 12.1 percent from a year earlier, but year end targets may miss revised estimates, the Central Bank said.For the first nine months of the year fiscal deficit was 322.6 billion rupees or 6.5 percent of gross domestic […]
Sri Lanka First Capital profits soar on bond gains
Nov 16, 2009 (LBO) – Sri Lanka’s First Capital Holdings said profits in the September 2009 quarter soared over ten times to 168.1 million rupees from 16.1 million on bond gains from is primary dealer unit.Sri Lanka’s bond yields have plummeted over 2009 as the Central Bank cut interest rates and foreign capital flowed into […]
Sri Lanka lures central Indian investors
Nov 15, 2009 (LBO) – Firms from the central Indian state of Madhya Pradesh have showed interest in investing in Sri Lanka and called for direct flights between the state capital Bhopal and Colombo, officials said.Sri Lanka can benefit by having daily flights between Bhopal, Colombo and Bangkok to cater to Sri Lankan as well […]
‘s African families fade away
SIRAMBIADIYA, November 15, 2009 (AFP) – In a village deep in west Sri Lanka, one of the island’s few remaining communities of African descent breaks into song — a poignant elegy to a disappearing culture. The music starts with a slow, gentle rhythm played on a tambourine, spoons and coconut shells, before it builds to […]
” for Sri Lanka foreign reserves: CB Governor
Nov 14, 2009 (LBO) – Sri Lanka’s central bank, which maintains a soft peg with the US dollar, said gold would be an ‘important anchor’ for its foreign reserves, which have zoomed in 2009 with large foreign inflows.Gold has hit new highs in recent weeks, with the US dollar again weakening under extended loose monetary […]
Sri Lanka stocks end up 1.77-pct
Nov 13, 2009 (LBO) – Sri Lankan shares ended firmer Friday with investors encouraged by the latest crop of quarterly company earnings although trading volumes were low, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index closed at 2,979.41, up 1.77 […]
Sri Lanka expects 6.0-pct growth from 4Q: CB Governor
Nov 12, 2009 (LBO) – Sri Lanka’s economic growth is projected to touch 6.0 percent in the fourth quarter of 2009 allowing the country to return to a higher growth path from 2010, Central Bank Governor Nivard Cabraal said.Cabraal said government tax revenues, another direct indicator of economic activity, have also picked up. “Overall we […]
‘s top general quits: military source
November 12, 2009 (AFP) – Sri Lanka’s top general, Sarath Fonseka, the architect of the army’s victory over Tamil rebels who was switched to a more ceremonial position, quit Thursday, a military source said.Fonseka declared during a visit to the United States last month that he was willing to shed his uniform and take up […]
Sri Lanka Treasuries yields fall 950bp over past year: Central Bank
Nov 11, 2009 (LBO) – Sri Lanka’s Treasury bill yields have fallen 947 to 950 basis points at primary auctions over the past year, helped by easier monetary policy, foreign investment into Treasuries and lower inflation, the Central Bank said.At Wednesday’s auction 3-month yields fell to 7.73 percent, the 6-month yield fell 22 basis points […]