All Blogs
Sri Lanka National Insurance Trust retains AAA rating
Dec 01, 2011 (LBO) – RAM Ratings Lanka has confirmed National Insurance Trust Fund’s (NITF) long- and short- term claims-paying ability ratings at AAA and P1, with the long-term rating having a stable outlook. “NITF’s ratings reflect its status as a statutory body of the government of Sri Lanka and the Fund’s systemic importance as […]
Sri Lanka child care project gets Japanese support
Dec 01, 2011 (LBO) – The Japanese government has provided almost 60 million rupees worth of aid for an early childhood care and development project in the eastern Trincomalee district, part of the former war zone. “It is expected that more than 1,000 families and their community members will benefit from the project,” the statement […]
Sri Lanka Treasuries yields up
Nov 30, 2011 (LBO) – Sri Lanka’s Treasuries yields rose across maturities with 12-month yields rising 49 basis points to 8.99 percent at Wednesday’s auction, data from the state debt office showed. The peg came under pressure as interest rates did not keep pace with credit growth earlier in the year. The 3-month yield rose […]
Sri Lanka overnight rates lower
Nov 30, 2011 (LBO) – Sri Lanka’s average overnight rates have eased over the past two days after the Central Bank stopped its repo auctions to withdraw excess liquidity but some banks who are short of cash are still borrowing at high rates, dealers said. A 2013 bond was quoted at 8.85/9.00 percent. In forex […]
Sri Lanka stocks up 1.0-pct on credit speculation
Nov 30, 2011 (LBO) – Sri Lanka’s stocks closed 1.1 percent up on speculation that the regulator may relax credit rule following a meeting with brokers with President Mahinda Rajapaksa earlier in the week. Brokers had also been warned that excessive credit can fire asset price bubbles. The regulator slapped credit curbs and the height […]
Rock Row
Nov 30, 2011 (LBO) – Chinese contractors building a new port in southern Sri Lanka have finished blasting and clearing a rock blocking the entrance channel whose discovery after construction began had sent the project cost up sharply. The additional blasting and dredging required to clear the rock at the Hambantota port, which was officially […]
Sri Lanka urged by Japan envoy to probe war crimes charges
Nov 30, 2011 (LBO) – A Japanese ‘peace envoy’ to Sri Lanka has pressed the island to probe allegations of human rights abuses that led to the loss of duty free market access to Europe. Yasushi Akashi, who served as a special envoy of the Japanese government during the island’s ethnic war, said a national […]
Sri Lanka inflation eases to 4.7 percent
Nov 30, 2011 (LBO) – Sri Lanka’s inflation rose to 4. 7 percent in November 2011 from a year earlier decelerating from 5. 1 percent in October, but prices rose 0.7 percent during the month, the state statistics office said. Central Bank Governor Nivard Cabraal has said that policy rates will be kept steady in […]
Sri Lanka firms can diversify with foreign talent
Nov 30, 2011 (LBO) – Sri Lankan firms can diversify into new areas by acquiring international talent when local resources are in short supply, the head of an emerging diversified group said. “If you don’t have a particular expertise are you buy that expertise,” LOLC group managing director Kapila Jayawardena told a business forum in […]
Sri Lanka stocks rally loses steam
Nov 29, 2011 (LBO) – Sri Lanka’s main share index closed slightly weaker Tuesday after a morning rally on the back of Monday’s surge in prices lost steam on profit-taking, brokers said. The main All Share Price Index fell 0.04 percent (2.16 points) to 6,020.08, while the more liquid Milanka index rose 0.26 percent (13.39 […]