Category: Economy and Markets
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 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 […]
Sri Lanka stocks remain unchanged, Monday
Sept 08, 2008 (LBO) – Sri Lanka stocks closed flat Monday with power and energy sector dominating trade, provisional data from the Colombo Stock Exchange showed. Heavyweight Dialog Telekom closed flat at 11.00 while state operator Sri Lanka Telecom closed flat at 45.00. The John Keells Holdings share lost 2.25 to close lower at 95.00. […]
‘s inflation tops 27-pct
TEHRAN, September 7, 2008 (AFP) – Iran’s inflation hit 27.6 percent in the calendar month of Mordad that ended August 21, the central bank said Sunday, as Iranians were again battered by rising prices of basic foodstuffs and goods. The consumer price index (CPI) in urban areas increased by 27.6 percent compared to the same […]
”’ inflation in new trouble, as Thailand dumps core
Sept 06, 2008 (LBO) – Sri Lanka’s ‘core’ inflation index, which is claimed to be responsive to central bank action, continued to edge up in August, even as ‘headline’ inflation fell amidst tight policy, and Thailand got ready to scrap core inflation targeting.A statement from the statistics unit of Sri Lanka’s central bank said a […]
Sri Lanka shares barely changed, heavy trading in Indian Oil unit
Sept 05, 2008 (LBO) – Sri Lankan share indices closed barely changed with heavy trading seen in LIOC, the local unit of Indian Oil Corp., as its earnings outlook improves on falling oil prices, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lanka to collect decades old taxes with new law
Sept 04, 2008 (LBO) – Sri Lanka would bring in a new law to collect taxes going back more than half a century from individuals, companies and corporations, a government official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The new law which has already been […]
‘s conflict-hit and the poor under World Bank focus
Sept 04, 2008 (LBO) – The World Bank will help Sri Lanka build infrastructure and boost economic services to communities marginalized by an internal conflict and the poor, a top official has said at the conclusion of a visit to the island. “Sri Lanka clearly has so much potential which is being held back by […]