Category:
Sri Lanka forex interventions to ease, inflows expected: CB Governor
Sept 16, 2011 (LBO) – Sri Lanka’s recent interventions in forex markets which were partly triggered by payments for oil will ease in the future, helped by higher expected inflows, Central Bank Governor Nivard Cabraal said. “Now the interventions are much less,” Cabraal said. “Even going forward, our estimates are that it will be limited. […]
Sri Lanka stocks end up 0.29-pct
Sep 16, 2011 (LBO) – Sri Lankan stocks recovered Friday ending a week-long fall with continued trading in shares that had drawn the interest of speculators, brokers said. The main All Share Price Index rose 0.29 percent (19.99 points) to 6,870.92, while the more liquid Milanka index rose 0.50 percent (30.75 points) to close at […]
India hikes interest rates by 25 basis points
MUMBAI, September 16, 2011 (AFP) – India’s central bank on Friday raised interest rates for the 12th time in 18 months to combat near double-digit inflation, despite signs of slowing economic growth. The Reserve Bank of India (RBI) raised its repo rate, at which it lends to commercial banks, by a quarter percentage point to […]
Sri Lanka policy rates steady, credit expected to slow: Central Bank
Sept 16, 2011 (LBO) – Sri Lanka has kept policy rates steady at 7. 00 percent to deposit excess reserves and 8. 50 percent to inject cash as rupee liquidity in monetary markets declined, expecting credit growth and forex interventions to ease in the future. The Central Bank said broad money grew 20. 7 percent […]
Sri Lanka to resume cash auctions in money markets: CB Governor
Sept 15, 2011 (LBO) – Sri Lanka’s central bank is ready to start daily cash auctions in money markets Governor Nivard Cabraal said, as dollar sales to maintain a currency peg rapidly sucked rupees out of the banking system. “If liquidity is low and we do not have excess liquidity, we will resume daily auctions,” […]
Sri Lanka stocks end down 0.7-pct
Sep 15, 2011 (LBO) – Sri Lankan stocks slumped again Thursday with turnover falling further amid continued trading in shares that had drawn speculative, brokers said. The main All Share Price Index fell 0.65 percent (44.68 points) to 6,850.93, while the more liquid Milanka index fell 0. 79 percent (49.16 points) to close at 6,178.49, […]
Fun Investment
Sept 15, 2011 (LBO) – Sri Lanka’s Cargills (Ceylon) Plc, which owns the island’s largest retail chain and is part of a group with cinema businesses, plans to build a shopping and entertainment complex in the former northern war zone. “The company is set to invest 500 million rupees in the development of a new […]
Delhi tells bureaucrats to work fast or pay up
NEW DELHI, September 15, 2011 (AFP) – Bureaucrats in the Indian capital New Delhi will have to pay money out of their own pockets from Thursday if applications for driving licences, birth certificates and other paperwork are delayed. City authorities have set up a website to allow people to check the status of their applications, […]
Indian rupee slides to near two-year low
MUMBAI, September 14, 2011 (AFP) – India’s rupee slid to a near two-year low against the US dollar on Wednesday on worries about the deepening European debt crisis and as global markets tumble. The partially convertible Indian unit weakened to 48.02 rupees to the dollar on growing demand for the US currency from banks and […]
‘s GDP expands 8.2-pct in June quarter: statistics office
Sept 15, 2011 (LBO) – Sri Lanka’s economy expanded by an estimated 8. 2 percent in the second quarter of 2011 from a year earlier, led by industry and services, the state statistics office said. In the second quarter of 2010, gross domestic product grew by 8.5 percent. The statistics office said industry, which has […]
Sri Lanka, Vietnam mull tractor plant, garment ventures
Sept 15, 2011 (LBO) – Vietnam is considering setting up a tractor plant in Sri Lanka and also joint ventures in garment manufacture, the island’s ministry of industry and commerce said in a statement. “Vietnam is keen to import more coconuts from Sri Lanka, collaborate in garment manufacturing and also to set up a manufacturing […]
Swazi king wants bailout from IMF, World Bank
MANZINI, September 14, 2011 (AFP) – Swazi King Mswati III said Wednesday that the International Monetary Fund and the World Bank should come to his country’s rescue, as they have for troubled nations like Greece and Portugal. “When they come to visit us, they do not come in the same spirit and that is a […]