Category: Economy and Markets
Sri Lanka central bank intervening for stability: Governor
Oct 10, 2008 (LBO) – Sri Lanka’s central bank is intervening in forex markets to maintain stability and the monetary authority has bought more dollars than it sold this year, Governor Nivard Cabraal said amidst concerns that the rupee is under pressure. “Our intervention is still on the positive side,” Cabraal said.“We have intervened to […]
Sri Lanka shares plunge in widespread sell-off
Oct 10, 2008 (LBO) – Sri Lankan share prices fell sharply Friday as investors appeared unnerved by the global stock market rout, with the benchmark index slumping below the psychologically important 2,000 point mark, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
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PARIS, October 8, 2008 (AFP) – European Central Bank Chief Jean-Claude Trichet urged financial markets to “collect” themselves Wednesday after Wall Street and European stock exchanges tumbled again despite coordinated central bank cut rates. “Collect yourselves,” Trichet said on France 3 television. “Excessive pessimism is ill advised.” “We all together call upon the market participants […]
Sri Lanka shares slump, JKH, Distilleries down sharply
Oct 09, 2008 (LBO) – Sharp falls in blue chips dragged down Sri Lanka’s share market Thursday with the main index at one point plunging below the 2,000 point mark as investor sentiment weakened amid global financial turmoil, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Sri Lanka agriculture hampered by skewed subsidies, land policies: World Bank
Oct 09, 2008 (LBO) – The World Bank has said Sri Lanka’s agriculture sector is being held back by wrong policies that place a heavy reliance on subsidies and restrictive land ownership rules. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The bank’s new country assistance strategy […]
Zimbabwe inflation soars to 231 million percent
HARARE, October 9, 2008 (AFP) – Zimbabwe’s annual inflation rate soared to 231 million percent in July, a state newspaper said Thursday, confirming the daily hardships of a nation driven into poverty and trapped in a political impasse.Staggering increases in the price of bread and cereals were the main reason for the jump from the […]
Major central banks cut rates to head off deflationary collapse
Oct 08, 2008 (LBO) – Major reserve currency central bank led by the Federal Reserve, European Central Bank, Bank of England joined by Swiss and Swedish authorities cut rates by 50 basis points in a bid to head off a deflationary collapse of the global economic system. With interest rates already low the Bank of […]
Sri Lanka shares extend losses
Oct 08, 2008 (LBO) – Sri Lankan share prices ended 3.0 percent lower Wendesday a day after stock fell 2.0 percent amidst unprecedented unraveling of the global financial system, in a day where Asian and Middle Eastern markets plunged. The All Share Price Index fell 64 points to 2,042.13 while the more liquid Milanka plunged […]
Sri Lanka stocks tumble, Maskeliya loses gains
Oct 07, 2008 (LBO) – Sri Lankan shares ended sharply lower dragged down by falls in large cap stocks with Maskeliya Plantations, which had risen on speculation of a takeover, plunging Tuesday, brokers said. Secretaries to Maskeliya Plantations said in a stock exchange filing that the RPC group was holding talks on the possible sale […]
Sri Lanka core inflation continues embarrassing climb
Oct 07, 2008 (LBO) – Sri Lanka’s controversial ‘core’ inflation index, which is claimed to be more responsive to monetary action, continued its relentless upward climb even as headline inflation moderated amid tight policy. In an earlier era, in France, paper money ‘central bankers’ who pushed food commodity prices up, created high inflation and economic […]
Sri Lanka shares end flat as speculators chase Maskeliya
Oct 06, 2008 (LBO) – Sri Lankan shares ended flat Monday, with small investors chasing Maskeliya Plantations on speculation of a takeover, brokers said. He said the market is likely to remain “sluggish” in the near term in the absence of any market moving news or rumours that could affect the prices of individual stocks. […]
Sri Lanka shares flat; speculators chase Maskeliya
Oct 06, 2008 (LBO) – Sri Lankan shares ended almost flat Monday, with small investors chasing Maskeliya Plantations on speculation of a takeover, brokers said. The indices ended mixed with Sri Lanka Telecom going up 25 cents being the main reason for the Milanka to go up while other key shares remaining flat. To receive […]