Category: Economy and Markets
New IMF loan insufficient for Pakistan problems: economist
KARACHI, August 8, 2009 (AFP) – Pakistani economists on Saturday said an additional 3.2 billion dollar loan from the IMF would have little impact on the economic problems facing the cash-starved South Asian country.The International Monetary Fund on Friday said it had approved an additional 3.2 billion dollar loan to Pakistan after it asked for […]
Sri Lanka official says economic crisis generates debate on role of central banks
August 8, 2009 (LBO) – The current economic crisis has created a debate about the core role of a central bank, a senior Sri Lankan monetary official said, while the practice of central banking itself is under heavy fire in the United States. Some central banks in relatively stable economies now only have one core […]
Sri Lankan shares up 0.15-pct during week
Aug 07, 2009 (LBO) – Sri Lankan shares closed marginally down Friday as investors waited for foreign investors to enter the market and showed no reaction to the capture of a wanted Tamil Tiger leader, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed flat to end at 2,529.53, while the Milanka index […]
G20 agrees next steps on bonuses, post-crisis blueprint
LONDON, September 5, 2009 (AFP) – The G20 vowed Saturday to maintain emergency measures to fight the world economic crisis, warning it was not over yet, while tensions between Europe and the United States remained over bankers’ bonuses. After a meeting in London preparing for a leaders’ summit later this month, finance ministers said they […]
Sri Lanka to close central bank swap with China: CB Governor
Aug 06, 2009 (LBO) – Sri Lanka’s central bank is expecting to close a “token” swap contract with China though the monetary authority is no longer in urgent need of dollars after an International Monetary Fund loan came through, Governor Nivard Cabraal said. Under the 20-month program Sri Lanka’s government and the central bank can […]
Sri Lankan shares up 0.34-pct
Aug 06, 2009 (LBO) – Sri Lankan stocks closed up Thursday with investors apparently optimistic of foreign inflows, while selected counters saw some volatility on poor corporate earnings, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.34 percent (8.57 points) to end at 2,526.08 Thursday, while the Milanka index of liquid […]
Sri Lanka goes ahead with baby elephant separation
August 5, 2009 (AFP) – Sri Lanka’s president brushed aside protests from animal rights activists Wednesday when he formally gifted two baby elephants separated from their mothers to a Buddhist temple.President Mahinda Rajapakse presented the “guardianship” of the two calves to top Buddhist monks at a ceremony in the central town of Kandy, his office […]
Sri Lanka resettles 1,100 war displaced
VAVUNIYA, August 5, 2009 (AFP) – Sri Lanka on Wednesday allowed 1,100 people displaced during the recently-ended ethnic conflict with the Tamil Tigers to return home, in the first phase of an ambitious relocation plan. At a colourful ceremony, senior presidential advisor Basil Rajapakse presented gift packs of food to the group and pledged to […]
Sri Lankan shares up 0.21-pct, blue chips gain
Aug 04, 2009 (LBO) – Sri Lankan stocks regained some lost ground Tuesday as investors took careful bets on selected blue chips such as John Keells Holdings (JKH) and Distilleries Company of Sri Lanka, but overall sentiment still remained weak, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.21 percent (5.36 […]
Sri Lanka to conduct first nation-wide census after 30-years
August 4, 2009 (LBO) – Sri Lanka is getting ready to conduct its first nation-wide census, covering all 25 administrative districts for the first time in 30-years following the end of a decades long war, an official said.“The next census will be held in 2011, and we are now preparing for it, and we will […]
Sri Lanka outperforms IMF reserve targets: Central Bank
Aug 04, 2009 (LBO) – Sri Lanka’s gross reserves have risen 71 percent to 2.1 billion US dollars by end-July from 1,272 million US dollars in March, which is higher than expected under an International Monetary Fund program, the Central Bank said.The central bank said it expected foreign reserves to increase due to inflows from […]
Sri Lankan stocks close down
Aug 03, 2009 (LBO) – Sri Lankan shares closed down Monday as investors became defensive, hoping the market to pick-up in the medium term, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.54 percent (13.55 points) to end at 2,512.15 Monday, while the Milanka index of liquid stocks lost 0.61 percent […]