Category: Economy and Markets
Sri Lanka promotes investment with Thailand after war
Aug 30, 2009 (LBO) – Sri Lanka is promoting new joint ventures with Thailand after the end of a 30-year war in the island, organizers of an investment conference in Colombo that is opening Monday said. More than a 100 top Sri Lankan enterprises from private and public sectors will participate in the conference, Wickramanayaka […]
Sri Lankans ask whether the US is a socialist state
Aug 28, 2009 (LBO) – Sweeping ‘nationalization’ of collapsing banks, state mandated mortgage lending and centrally planned interest rates has made the USA a socialist state, Sri Lankan viewers of a film on the US economic collapse said.Paulson, the multitude of bankers and financial journalists repeatedly said in the film, had made ‘mistakes,’ in being […]
Sri Lankan stocks up 0.52-pct
Aug 28, 2009 (LBO) – Sri Lankan shares closed up 0.5 percent Friday with banks and hotel sector shares driving gains, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.52 percent (13.46 points) to close at 2,601.50 while the Milanka index of liquid stocks gained 1.0 percent (29.34 points) to close […]
Sri Lanka columnist shortlisted for Bastiat online journalism prize
Aug 28, 2009 (LBO) – Rohan Samarajiva, who writes Lanka Business Online’s ‘Choices’ column has been shortlisted for the 2009 Bastiat Prize for online journalism along with two others who write for Britain’s Telegraph and US based Forbes. Samarajiva, who heads LirneAsia, a policy research body, has been writing LBO’s widely read ‘Choices’ column from […]
Sri Lanka forex reserves at US$3.9bn with new IMF allocation
Aug 28, 2009 (LBO) – Sri Lanka’s gross official reserves rose to 3.9 billion US dollars after receiving the equivalent of 475 million US dollar under a new allocation International Monetary Fund reserves, the Central Bank said. Sri Lanka’s reserves have now topped a 3.5 billion dollar peak reached in September 2008. In August 07, […]
Sri Lanka war, BOP crisis no longer hurt rating; budgets a problem: Fitch official
Aug 27, 2009 (LBO) – Sri Lanka’s internal conflict and a balance of payments crisis that led to a rating downgrade and a negative outlook have now been wiped off the slate, but weak state revenues and high national debt are hurting Sri Lanka’s rating, a senior Fitch official said. In April 2008, Fitch downgraded […]
Sri Lankan shares up 1.37-pct
Aug 27, 2009 (LBO) – Sri Lankan shares closed up on Thursday led by hotel stocks and index-heavy John Keells Holdings which close up despite foreign selling, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.37 percent (35.01 points) to close at 2,588.04 while the Milanka index of liquid stocks gained […]
Sri Lanka draws Japanese investor interest
Aug 26, 2009 (LBO) – A 40-member Japanese trade and investment mission is due to visit Sri Lanka in November 2009 following the end of the island’s 30-year ethnic war, the Ceylon Chamber of Commerce said.Members of the mission during their visit will take part in the Japan – Sri Lanka Business Co-operation Committee meeting […]
Sri Lanka T-bill yeilds frozen for third week
Aug 26, 2009 (LBO) – Sri Lanka’s Treasury bill yields were frozen at the weekly auction for the third week running, in auction where 10.1 billion rupees out of a maturing 12.0 billion was sold to the market, the government’s debt office said.The 3-month yield stayed at 10.57 percent, the 6-month yield at 11.43 percent […]
Sri Lanka pro-poor effort hit by political interference: ADB
Aug 26, 2009 (LBO) – Political interference and overlapping functions of government agencies have seriously weakened Sri Lanka’s efforts to help the poor and might even perpetuate poverty, a new Asian Development Bank report says. The public sector is too big, confused and lacks accountability, the report on ‘Poverty and human development in Sri Lanka’ […]
Sri Lankan stocks up 0.22-pct
Aug 26, 2009 (LBO) – Sri Lankan shares closed up on Wednesday as investors eyed selected blue chip and hotel counters looking to profit from a possible resurgence in the medium term, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.22 percent (5.59 points) to end at 2,553.03 while the Milanka […]
Sri Lanka foreign reserves US$3.2bn: CB governor
Aug 25, 2009 (LBO) – Sri Lanka’s foreign reserves have topped 3.2 billion dollars after a large inflow into the country’s government securities market, Central Bank Governor Nivard Cabraal said. “You will see enormous opportunities,” Cabraal told a forum on Islamic financial instruments organized by Rating Agency Malaysia in Colombo. “There will be extraordinary positions […]