Rupee depreciates against the dollar »
Comparison of December data 2007 to 2008 By Devan Daniel * Exchange rate with other currencies determined by global rates against dollar The rupee has weakened against the dollar, the generally accepted base currency of Sri Lanka, shows a comparison of year-end average rupee/dollar exchange rates presented by the Central Bank for the period 2007-2009. [...]
Govt expects economy to grow by 7.2% in FY10 »
Shweta Rajpal Kohli and Haris Usman Monday, February 08, 2010 (New Delhi) The wheels of the economy seem to be moving in the right direction as the govenrment on Monday estimated the GDP to grow by 7.2 per cent for this financial year 2009-10. Given the economy on the growth track, top govt officials argue [...]
Budget deficit 17.6% of GDP up to Sept 09 »
Year-end revenue inflows expected to bring it down By Devan Daniel Available data shows the budget deficit for the first nine months of 2009 at 17.6 percent of GDP but with revenues generally coming in during the last few months of the year there is a possibility that the budget deficit could near the IMF [...]
Inflation up in December »
By Devan Daniel Inflation for December increased to 4.8 percent from 2.8 in November while the annual average rate of inflation settled at 3.4 percent, the lowest on record, according to available data since 2007 released by the Central Bank. The point-to-point change in Inflation peaked at 28.2 percent in June 2008, but gradually declined [...]
Gold sets new price record »
Gold has been breaking records over recent days and weeks amidst global financial fears [AP] The price of gold has struck a record high level in trading in British capital, London. Gold hit $1,215.85 on the London Bullion Market on Wednesday just after breaking through the $1,200 barrier for the first time on the previous [...]
Shares up from two week low »
COLOMBO (Reuters): Sri Lankan shares rose on Friday from an over two-week low, snapping a seventh straight fall as cautious investors bought battered shares in thin trade even as political uncertainty weighed on investor confidence. The All-Share Price Index of the Colombo Stock Exchange rose 1.01 percent or 28.73 points to 2878.96, from its lowest [...]
Market volatile as caution prevails »
Stocks at the Colombo Stock Exchange (CSE) had an eventful and volatile week due to events that took place in New York and Brussels. On the evening of October 16 (Friday), while the markets were closed in Colombo, Raj Rajaratnam and five others were arrested on charges of insider trading and other related activities. The [...]
What to look for in gold and diamond buy »
With gold prices touching an all-time high and diamonds losing its value in the past six months, customers find the latter affordable this festive season. The jewellery-buying spree, which commences during Navratri, reaches a crescendo on Dhanteras — the day traditionally considered auspicious for purchasing gold. Unlike past year, when buying activity was subdued, owing [...]
Asia’s Biggest Economies Promise Greater Cooperation »
By THE ASSOCIATED PRESS Published: October 11, 2009 BEIJING — Their economies enmeshed as never before, leaders from China, Japan and South Korea said over the weekend that they would explore the idea of a free-trade pact, inching toward deeper regional integration. Skip to next paragraph Enlarge This Image Pool photograph by Jason Lee President [...]
Gold price rises to all-time high »
Gold spot price graph The price of gold has hit a new all-time high of $1,043.77 an ounce after a decline in the dollar boosted the attractiveness of metals to investors. Copper prices also rose above $6,000 a tonne, as the weaker dollar made metals cheaper for non-US investors. The dollar fell after a newspaper [...]
