Category: Economy and Markets
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 and India have talks on Thorium-based nuclear energy: report
Oct 06, 2008 (LBO) – Sri Lanka’s science and technology ministry have sounded out India about using the island’s Thorium deposits in nuclear energy, and an Indian team is expected to visit the country to study the idea, a media report said. The Daily Mirror newspaper quoted science and technology minister Tissa Vitharana as saying […]
Sri Lanka to get $900mn in World Bank aid
Oct 06, 2008 (LBO) – The World Bank will give Sri Lanka 900 million dollars in aid under its new four-year country assistance strategy aimed at achieving more balanced and equitable growth. The World Bank wants to make sure its work is not undermined by corruption and will support efforts to strengthen core governance institutions […]
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 […]
Sri Lanka inflation battle threatened by cash injections
Oct 04, 2008 (LBO) – Sri Lanka’s central bank said inflation would come down to below 20 percent by year end, but its monetary program is now threatened by liquidity injections in the midst of a sudden foreign reserve outflow. “Point-to-point inflation would come down to below 20 percent,” central bank governor Nivard Cabraal told […]
” state policies
OTTAWA, October 3, 2008 (AFP) – Canada’s Prime Minister Stephen Harper on Thursday blamed current US financial woes and its worldwide fallout on “irresponsible” policies. “The economic and financial mess in the US is disastrous and the policies have been irresponsible,” Harper said during a televised political debate ahead of an October 14 vote. His […]
” say crisis warnings unheeded
WASHINGTON, October 3, 2008 (AFP) – The so-called “doomsday” economists long derided by the mainstream say the current financial maelstrom was inevitable, but debate is still raging on how the US economy will emerge from the crisis. The analysts who had sounded warnings about economic imbalances for at least the past two years argue that […]
Sri Lanka fiscal management critical for managing inflation: think tank
Oct 03, 2008 (LBO) – Sri Lanka’s government spending policies, and foreign borrowings are key to keeping inflation down though tight monetary policy can bring short term results, a think tank has said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “Whilst a sharp drop in credit […]
Sri Lanka shares stay firm, speculators chase Maskeliya
Oct 03, 2008 (LBO) – Sri Lankan shares ended a shade firmer for the second day running after a long bear run, with heavy trading in Maskeliya Plantations, which was pushed up by speculators on takeover talk, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Sri Lanka forex market steady with intervention
Oct 03, 2008 (LBO) – Sri Lanka’s forex markets entered a second day of intervention with a state bank that usually acts for the monetary authority selling dollars at 108.00 rupees, dealers said. Central Bank governor Nivard Cabraal told LBO that the state bank “could continue to sell” if required. On Thursday the forex market […]
Sri Lanka shares hold their ground
Oct 02, 2008 (LBO) – Sri Lankan shares ended several days of falls to close marginally firmer Thursday but on very small volumes with investors still cautious owing to uncertainty in the global and local economy, brokers said. Lanka Cement closed up 25 cents at 11.25 with 124,100 shares traded. The company’s stock has been […]