Category: Economy and Markets
Sri Lanka stocks fall on blue chip losses
Sept 17, 2008 (LBO) – Share prices fell in Wednesday’s trading with the indices dragged down by falls in blue chips and confusion in the market over the pricing of Brown and Company after a share split and ‘bonus’ issue. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Sri Lanka economists to talk inflation at annual parley
Sept 17 2008 (LBO) – Sri Lanka’s economists are debating inflation, competitiveness and growth this Friday and Saturday at a time when inflation has hit a historic record in the island and subsequent tight monetary policy has strengthened the rupee. “The extent of such gap in aggregate supply will depend on whether the economy is […]
‘s Treasury chief leaves
Sept 17, 2008 (LBO) – Sri Lanka’s Treasury Secretary P B Jayasundera is leaving his position having completed preparatory work on the 2009 budget, a senior government official said.Jayasundera originally handed over his resignation shortly after a court order faulted him on a privatization deal, but it was not immediately accepted. An official said the […]
Sri Lanka to get more concessionary funds: ADB
Sept 16, 2008 (LBO) – Sri Lanka would get more than 200 million US dollars a year from the Asian Development Bank (ADB) over the next three years and the country would get more money from its concessionary window, an official said. The ADB’s country partnership strategy, which outlines its lending program for the island […]
Sri Lanka gets extra funds for roads, education, housing: World Bank
Sept 09, 2008 (LBO) – The World Bank has inked deals worth 151 million dollars to lend extra money for road, education and housing reconstruction in conflict-hit areas of Sri Lanka, the multilateral lender said.World Bank country chief Naoko Ishii said the additional financing will support the growth of infrastructure in lagging regions, the return […]
Sri Lanka raises US$60mn in 2-year bonds
Sept 15, 2008 (LBO) – Sri Lanka has raised 60 million US dollars in 2-year bonds at a premium of 2.895 percent above the London Interbank Offered Rate (LIBOR) to help repay a maturing 70 million US dollar bond issue, the government’s debt office said.The Central Bank said the money would go to settle a […]
Sri Lanka central bank says August money growth controlled
Sept 15, 2008 (LBO) – Sri Lanka’s central bank said it had maintained targets for reserve money, in the months of July and August, which is its main operational target instead of policy rates, causing inflation and credit growth to fall. The average reserve money in August was 280.9 billion rupees, indicating a growth of […]
Sri Lanka becomes top South Asian reformer in 2008: IFC study
Sept 10, 2008 (LBO) – Sri Lanka has been rated the top South Asian reformer in an annual business regulation study by the World Bank group, with a new company law and credit information improvements boosting its scores.Singapore led the global rankings on the overall regulatory ease of doing business for a third consecutive year.New […]
Sri Lanka treasuries rates edge lower
Sept 10, 2008 (LBO) – Sri Lanka’s 12-month treasury bill yield fell 16 basis points to an average of 18.34 percent and 6-month bills fell 30 basis points to 17.45 percent at Wednesday’s auction, the government’s debt office said. The debt office which is a unit of the central bank said 8,000 million rupees of […]
UN pulls out of Sri Lanka war zone
September 9, 2008 (AFP) – The United Nations said Tuesday it was withdrawing all its aid agency personnel from Sri Lanka’s embattled north, following a government order to quit ahead of a major military offensive. Only a few aid agencies, including the UN outfits, still operate inside the rebel-held Wanni district in northern Sri Lanka. […]
ICRC steps up aid efforts in Tiger-held areas of Sri Lanka
GENEVA, September 9, 2008 (AFP) – The international Red Cross said Tuesday it has stepped up its efforts to assist thousands of displaced people in the rebel-held Wanni area of northern Sri Lanka. Tens of thousands of people have died on both sides since the Liberation Tigers of Tamil Eelam launched a separatist campaign in […]
Sri Lanka prosperity index find wide divisions and gains
Sept 08, 2008 (LBO) – Sri Lanka’s most prosperous conditions are found in the Western province followed by the central and southern province, while the Northern province trails behind, an index devised by the Central Bank has found. Officials say the index goes beyond traditional measures like economic growth to find out what makes people […]