Colombo Bourse - positive trend continues
The Colombo Stock Exchange (CSE) completed
another successful week and the ASPI up by 430.05 points or 7.82
percent. The positive trend which started in August continued with
investor confidence building up after the replacement of the head of
the Securities and Exchange Commission (SEC) and dialogue with
stakeholders to eliminate irregularities.
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Budget deficit at reasonable level
The Government will be able to keep the budget
deficit at a reasonable level due to the reduction of imports and
exports caused by external factors, a top government official said.
“Government regulations on imports and the floating of the exchange
rate during the past few months have impacted on imports
considerably,
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Trade deficit declines
The tight policies adopted by the Government in
February this year continued to deliver the expected results
according to the latest external sector statistics issued by the
Central Bank (CB). There was a marked deceleration in expenditure on
imports by July 2012, and the trade deficit declined by 33.8
percent, year-on-year, to $ 535 m in July 2012, the lowest recorded
in 17 months. Devaluation of the rupee,
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Sri Lanka on path to rapid development
Sri Lanka can count on a period of economic
'catching up' in the years to come, states Asia Sentinel in an
article on Sri Lanka Rejoining the World. Asia Sentinel is a
web-based Asian regional publication focused on news, business, arts
and culture. According to the report Sri Lanka's Annual GDP growth
rate can be expected to go above seven percent for 2013,
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Code of ethics for registered finance companies
Just two years ago, Sri Lanka experienced a
calamity of finance company failures causing much damage to public
trust and confidence placed on finance companies as a whole. This
can be attributed to the lapses and failure in governance, lack of
transparency and unsustainable financial exposure in finance
companies, a media release from the Finance Houses Association
stated.
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