Economy & Markets

Sri Lanka shares rise again, but Q3 earnings seen crucial

Oct 15, 2008 (LBO) - Sri Lankan shares rose again Wednesday, regaining some ground lost in last week's plunge but brokers said the recovery's sustainability …

US slipping into recession: Federal Reserve

NEW YORK, October 15, 2008 (AFP) - The United States has slipped into recession, the head of the San Francisco branch of the Federal Reserve, the nation's …

Nobel winner Krugman on crisis: ‘I should have seen it coming’

WASHINGTON, October 14, 2008 (AFP) - Paul Krugman, winner of the 2008 Nobel Prize for economics, said Monday in an interview with National Public Radio (NPR) …

US financial system headed to intensive care: Volcker

SINGAPORE, October 14, 2008 (AFP) - The US financial system is already in the emergency ward and will move into intensive care, Paul Volcker, former chairman …

Britain calls for new world monetary order

LONDON, October 13, 2008 (AFP) - World leaders must meet to agree a new Bretton Woods system, Prime Minister Gordon Brown said on Monday, referring to the …

Sri Lanka relies on hard drinkers to raise tax revenue

Oct 13, 2008 (LBO) - Sri Lanka's government hopes to raise an additional two billion rupees a year in tax revenue through a recent increase in excise tax, a …

Sri Lanka shares rebound, trading thin

Oct 13, 2008 (LBO) - Sri Lankan shares rebounded Monday, lifted by blue chips, on a temporary recovery of confidence as global bailout plans saw overseas …

EU, IMF to help Hungary after forint slumps

BRUSSELS, October 13, 2008 (AFP) - The European Union and IMF stand read to help Hungary's government with financial support if needed after its currency, the …

Wall Street searches for bottom after worst weekly pounding

NEW YORK, October 11, 2008 (AFP) - Wall Street's worst meltdown in recent memory ended the week with a whimper, leaving panicked investors wondering whether …

Sri Lanka shares plunge in widespread sell-off

Oct 10, 2008 (LBO) - Sri Lankan share prices fell sharply Friday as investors appeared unnerved by the global stock market rout, with the benchmark index …

World stock markets dive in crisis of confidence

LONDON, October 10, 2008 (AFP) - Global stocks went into a tailspin on Friday, with double-digit losses in Frankfurt, London and Tokyo, on widespread fears …

Sri Lanka central bank intervening for stability: Governor

Oct 10, 2008 (LBO) - Sri Lanka's central bank is intervening in forex markets to maintain stability and the monetary authority has bought more dollars than it …

Sri Lanka shares slump, JKH, Distilleries down sharply

Oct 09, 2008 (LBO) - Sharp falls in blue chips dragged down Sri Lanka's share market Thursday with the main index at one point plunging below the 2,000 point …

European print chief tells financial markets: ‘collect yourselves’

PARIS, October 8, 2008 (AFP) - European Central Bank Chief Jean-Claude Trichet urged financial markets to "collect" themselves Wednesday after Wall Street and …

Sri Lanka agriculture hampered by skewed subsidies, land policies: World Bank

Oct 09, 2008 (LBO) - The World Bank has said Sri Lanka's agriculture sector is being held back by wrong policies that place a heavy reliance on subsidies and …

Zimbabwe inflation soars to 231 million percent

HARARE, October 9, 2008 (AFP) - Zimbabwe's annual inflation rate soared to 231 million percent in July, a state newspaper said Thursday, confirming the daily …

Sri Lanka shares extend losses

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Major central banks cut rates to head off deflationary collapse

Oct 08, 2008 (LBO) – Major reserve currency central bank led by the Federal Reserve, European Central Bank, Bank of England joined by Swiss and Swedish …

Sri Lanka shares extend losses

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Sri Lanka core inflation continues embarrassing climb

Oct 07, 2008 (LBO) – Sri Lanka's controversial 'core' inflation index, which is claimed to be more responsive to monetary action, continued its …