Economy & Markets

Sri Lanka treasuries yields edge up with high spending

Oct 04, 2007 (LBO) - Sri Lanka treasuries edged up again this week as a high budget deficit drained funds from the domestic markets and the central bank fought …

Sri Lanka flirts with flour price controls as inflation rages

Oct 03, 2007 (LBO) – Sri Lanka consumer affairs ministry said it was amending laws to bring a Singapore-owned flour mill under its control as rising …

Zimbabwe hikes rates by 15,000bp as Sri Lanka holds rates steady

Oct 02, 2007 (LBO) – Zimbabwe has hiked overnight discount rate by 15,000 basis points to 800 percent while the rate at the unsecured last resort window …

Sri Lanka breaks ‘radio silence’ over sovereign bond

Sept 29, 2007 (LBO) - The controversy over a sovereign bond took a new turn with Sri Lanka's finance ministry saying the country's president could approve any …

Sri Lanka’s average inflation hits 17 year high, policy rates frozen

Sept 28, 2007 (LBO) – Sri Lanka held policy rates steady in September and pointed fingers at commodity prices as average inflation hit a 17-year high in …

Sri Lankan stocks tumble after opening higher, markets await rate decision

Sept 28, 2007 (LBO) - Sri Lankan stocks tumbled soon after opening with brokers saying investors were largely inactive, as markets awaited a money policy …

Sri Lanka inflation jumps in September

Sept 28, 2007 (LBO) – Consumer prices in Sri Lanka's capital jumped 1.1 percent in September keeping the 12-month increase in consumer prices at 17.3 …

Sri Lanka rejects bond auction again, stocks down

Sept 27, 2007 (LBO) - Sri Lanka rejected all bids for an auction of 2, 3 and 5 year Treasury bonds Thursday following a pattern established in recent months …

Sri Lanka to issue non-tradeable loans again

Sept 27, 2007 (LBO) - Sri Lanka's government has announced the resumption of a loan program that was previously scrapped as the country developed its debt …

Sri Lanka says human rights criticism is neo colonialism

Sept 26, 2007 (LBO) – Sri Lanka has rejected criticism of its human rights record by Western countries saying it was being unfairly targeted in a …

Sri Lanka claims killing 13 Tamil Tigers

COLOMBO, Sept 26, 2007 (AFP) - Sri Lankan troops shot dead 13 suspected Tamil Tiger rebels in clashes across northern defensive lines, the defence ministry …

Sri Lanka treasury yields up again

Sept 25, 2007 (LBO) - Sri Lanka's benchmark 3- month treasury yields went up 15 basis points to 18.20 with the cut-off pushing 18. buy hydroxychloroquine …

Sri Lanka opposition renews warning on sovereign bond

Sept 24, 2007 (LBO) - Sri Lanka's opposition has renewed its warning that a planned sovereign bond has no parliamentary sanction and a future government made …

Sri Lanka needs sensible monetary and fiscal policies: IMF report

Sept 22, 2007 (LBO) – Sri Lanka needs sensible fiscal and monetary policies and less fiscal dominance of the economy, a new report by the International …

Sri Lanka downgrades official growth forecast

Sept 21, 2007 (LBO) – Sri Lanka has downgraded its economic growth forecast to between six and seven percent for 2007 as a fast growing public sector and …

Sri Lanka tax office clearing tarnished reputation, says official

Sept 21, 2007 (LBO) – Sri Lanka's tax department is slowly regaining its reputation which had been tarnished by a tax scam and complaints of bullying tax …

Sri Lanka minister block queries over pension fund losses; new questions emerge

Sept 20, 2007 (LBO) – A government minister blocked reporters from questioning officials about real losses made by a pension fund of private sector …

Sri Lanka opposition accuses govt of misusing public funds

Sept 19, 2007 (LBO) - Sri Lankan opposition leader Ranil Wickremesinghe Wednesday accused the government of illegally channeling state funds to a new budget …

Sri Lanka central bank says narrow trade gap is good for rupee

Sept 19, 2007 (LBO) - Sri Lanka's central bank says a recent fall of the rupee is not in line with a narrowing of the trade gap, as the rupee dipped to a new …

Sri Lanka trade deficit narrows in July, import growth slows

Sept 18, 2007 (LBO) – Sri Lanka's trade deficit has narrowed in July with oil imports slowing and exports growing by 33.9 percent, the Central Bank said …