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Sri Lanka credit expands faster than expected, policy rates steady
Aug 19, 2011 (LBO) – Sri Lanka’s policy interests rates are held steady at 7. 00 percent to deposit excess money and 8.50 percent to inject fresh money, though credit growth was higher than expected at 34. 4 percent in July, the central bank said. Credit disbursed to the private sector increased by 34.4 per […]
Sri Lanka first half foreign direct investment US$413mn: Central Bank
Aug 19, 2011 (LBO) – Sri Lanka’s foreign direct investment for the first half of 2011 reached 413 million US dollars putting the country on track for a full year goal of a billion dollars, the Central Bank said. Foreign reserves had reached an all time high of 8,158 million US dollars by August 16. […]
Sri Lanka targets deficit of 6.2-pct in 2012
Aug 19, 2011 (LBO) – Sri Lanka will budget for a deficit of 6. 2 percent of gross domestic product in 2011 down from a planned gap of 6.8 percent in 2010, information minister Keheliya Rambukwelle said. The government will keep state investments at 6. 0 percent of GDP. The state is planning to bring […]
” rating
Aug 18, 2011 (LBO) – Sri Lanka’s John Keells Holding’s ‘AAA(lka)’ rating with a stable outlook was confirmed by Fitch Ratings which said the its gearing at holding company was low and dividends from operating units were strong. JKH’s record in funding acquisitions and expansion with a combination of pre-issued equity and retained profits helped […]
Sri Lanka stocks up 0.2-pct, speculative trading rise
Aug 18, 2011 (LBO) – Sri Lanka stocks closed flat Thursday with an active retail and high net worth investor participation and more speculative trading, brokers and analysts said. Colombo’s benchmark All Share Price Index closed up 16.74 points or 0.24 percent at 7,030.85 while the Milanka Index of liquid stocks closed down 0.42 percent […]
Sri Lanka tourism body to have industry participation
Aug 18, 2011 (LBO) – Sri Lanka will set up a single tourism authority with industry participation as the apex body to set policy and regulate the sector, minister Keheliya Rambukwelle said. The minister may also appoint two others who are experts in marketing, law, finance or related profession. “The idea is have the government […]
Sri Lanka ASP surfing meet to raise sport tourism profile
Aug 17, 2011 (LBO) – A combined men and women’s’ professional surfing event in Sri Lanka’s Arugam Bay sponsored by national carrier SriLankan Airlines will strengthen the island’s image as a sporting destination, officials said. “The motto of the Association of Surfing Professionals is to put the world’s best surfers with the world’s best waves. […]
Indian government struggles with mass protests
NEW DELHI, August 17, 2011 (AFP) – India’s graft-tainted government faced a growing crisis on Thursday, with the country rocked by mass anti-corruption protests that have pitted the prime minister against a popular hunger striker. Rallies continued late into the night across India on Wednesday in support of veteran campaigner Anna Hazare, 74, who remained […]
India and China to lead gold demand: WGC
MUMBAI, August 18, 2011 (AFP) – Gold, at record-breaking levels as global economic worries mount, will see sustained demand from key markets India and China this year despite high prices, the World Gold Council said on Thursday. Global demand for the second quarter to June was 919. 8 tonnes, down 17 percent year-on-year, from 1,107 […]
World population will reach 7 billion this year: study
PARIS, August 17, 2011 (AFP) – The world population will reach seven billion later this year, with increases in the number of people in Africa off-setting birth rate drops elsewhere, according to a new French study published Thursday. “It has increased seven-fold over the last two hundred years, topping seven billion in 2011, and is […]
Sri Lanka Pan Asia banks to sell 5-year bonds
Aug 17, 2011 (LBO) – Sri Lanka’s PABC Bank will sell 5-year bonds to raise two billion rupees to boost regulatory capital amid strong loan growth, Fitch Ratings Lanka which rated the securities ‘BBB-(lka)’ said. Pan Asia Bank itself is rated one level higher. Both are investment grade ratings. The subordinated bonds, which will be […]
Sri Lanka Treasuries yields flat
Aug 17, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with 3-month bills yields 7.11 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield was flat at 7.19 percent and 12-month yield was 7.25 percent. The government said it had sold 3.5 billion rupees in 3-month bills, […]