Category: Economy and Markets
Sri Lankan shares becalmed; Lanka Cement up
May 02, 2008 (LBO) – Sri Lankan shares closed virtually flat Friday in thin trading with Lanka Cement, which has been moving on speculative trading, ending firmer, brokers said. The All Share Price Index was barely changed, up just 2.78 points (0.11 percent) to 2,635.74 while the more liquid Milanka index fell 1.98 points (0.06 […]
Sri Lanka signs up more money to broaden highway
May 01, 2008 (LBO) – Sri Lanka has signed up additional funds to augment a highway to the south of the island which is jointly financed by the Asian Development Bank and the Japan, the finance ministry said. The 90 million dollar supplementary loan will finance a 29.3 kilometre stretch on the Southern Highway starting […]
Sri Lanka gets Dutch aid to build big fisheries harbour
May 01, 2008 (LBO) – Sri Lanka has signed a deal with the Netherlands government to get eight billion rupees (44.9 million euro) in aid to build a fisheries harbour to accommodate deep sea trawlers and develop the island’s fishing industry. The port will be built in Dikowita on the western coast, fisheries minister Felix […]
Sri Lanka central bank says will maintain tight policy
April 30, 2008 (LBO) – Sri Lanka’s central bank will continue to maintain tight monetary policy to cope with the current economic turmoil, uncertainty and high prices, a senior official said. “Monetary policy will continue to be tight,” said Ranee Jayamaha, deputy governor of the Central Bank said Wednesday. “The exchange rate and the interest […]
Sri Lanka central bank tightens money targets
April 30, 2008 (LBO) – Sri Lanka’s central bank has tightened reserve money targets as 12-month inflation hit a new high of 25.0 percent in the capital Colombo on a new index while an older index showed an increase of 29.9 percent in April. The US has increasingly come under fire for firing a global […]
Sri Lankan shares flat; Dockyard, Lanka Cement draw interest
April 30, 2008 (LBO) – Sri Lankan shares closed virtually flat Wednesday with some interest in Colombo Dockyard and Lanka Cement, brokers said.The All Share Price Index was barely changed, up just 1.95 points (0.07 percent) to 2,632.96 while the more liquid Milanka index fell 2.35 points (0.07 percent) to 3,237.28. Turnover was 212 million […]
Federal Reserve under fire as commodity bubble wreaks chaos; WSJ says Bernanke addicted to printing
April 30, 2008 (LBO) – The Federal Reserve money printing that has fired a commodity bubble causing malnutrition and food riots in poor countries is increasingly coming under fire, with mainstream media adding their voice to a growing flood of critics. After the sub-prime bubble started to unravel last July the Fed has cut rates […]
Sri Lanka Sinhala news service, central bank talks economics online
April 28, 2008 (LBO) – Sri Lanka’s pioneer Unicode Sinhala news portal, Vimasuma.com and the Central Bank has teamed up to produce a series of educational discussions targeted at economics students and the public. The multimedia discussion series which can be viewed online at www.vimasuma.com is aimed at economics teachers, students of economics and others […]
‘s stocks close marginally lower
April 29, 2008 (LBO) – Sri Lankan stocks closed lower Tuesday with investor sentiment gloomy owing to war jitters and a fall in the price of heavyweight John Keells Holdings, brokers said. Market activity was lower with trade volume less than ten million shares. Total turnover was 239.8 million rupees. Colombo Stock Exchange All Share […]
Sri Lanka business looks to manage interest, exchange volatility
April 29, 2008 (LBO) – Sri Lanka’s top business chamber is hosting a forum to provide deeper understanding of exchange rate and interest rate hedging amidst high volatility seen in recent years.“Sri Lanka has been experiencing chronic high interest rates and frequent exchange rate fluctuations and this has become a hotly debated topic in both […]
Sri Lanka 3-month yields fall
April 29, 2008 (LBO) — Sri Lanka’s benchmark 3-month Treasury bills fell 16 basis points to 18.51 percent, with the government re-selling 9 billion out of 11 billion rupees of maturing bills, the public debt office said.The public debt office, which is a unit of the country’s central bank, said the remaining bills were retired. […]
Sri Lanka mangrove conservation scheme gathers pace
April 28, 2008 (LBO) – A program to conserve Sri Lanka’s mangrove eco-systems is gathering pace with the support of coastal communities, government and private sector organizations, officials said. The Mangroves for the Future (MFF) initiative launched with the International Union for Conservation of Nature (IUCN), the United Nations Development Program (UNDP) is also working […]