All Blogs
Sri Lanka can stop inflation with currency board: Steve Hanke
Feb 02, 2008 (LBO) – Sri Lanka could end inflation by adopting a working exchange rate system and a credible external anchor in the form of a currency board, a top international monetary economist has said. Related Links Go to article on Cato Institute website Go to Globe Asia column Go to Steve Hanke’s columns […]
Sri Lanka says Japan is not about to cut aid
Feb 02, 2008 (LBO) – Sri Lanka’s foreign ministry says it has received assurances from Japan that aid will not be cut, after reports that Japan would review its aid policy to the island. Japan’s special envoy to Sri Lanka’s peace process Yasushi Akashi visited the island just as the government pulled out of a […]
Sri Lanka doubles bond coupons to 15.50-pct
Feb 01, 2008 (LBO) – Sri Lanka has more than doubled the coupons on its two year bonds, the government’s debt office said, in a move that will give the government more immediate cash. The debt office offered 750 million rupees of 2-year bonds maturing on January 15, 2010 Friday, with a coupon of 15.50 […]
Sri Lanka rupee at one year highs, forward premiums narrow
Feb 01, 2008 (LBO) – The Sri Lanka rupee hit 13-month highs of 107.65/70 against the US dollar as foreign bond buying and tighter monetary policy strengthened the rupee, dealers said. On January 01, 2007 the rupee had closed at 107.60/70 against the US dollar and on Jan 02 at 107.67/77, dealer said. The rupee […]
Sri Lankan investors on look out for earnings surprises
Feb 01, 2008 (LBO) – Sri Lanka’s share market closed marginally higher Friday with investors selectively buying stocks expected to report higher quarterly earnings this month, brokers said. The market is now more of an ‘event driven’ entity, visible from the choppy trading during January this year in comparison to that of last year, because […]
Paper Issue
Feb 01, 2008 (LBO) – Lanka Orix Leasing Company (LOLC) is planning to raise 500 million rupees from a rated commercial paper, Fitch Sri Lanka said, assigning the issue a short term rating of ‘F1 (lka)’. . “The assigned rating reflects the absence of an adverse shift in the maturities of the company’s interest bearing […]
Durable Finance
Feb 01, 2008 (LBO) – Fitch Sri Lanka has confirmed the ‘BBB (lka)’ national long-term rating of Singer Finance (Lanka) Limited (SF) with a ‘stable’ outlook. SF was established as a RFC in April 2004, and currently operates through five branches. “The principal factor taken into consideration in SF’s rating is the implied support assumed […]
‘s Assurance
Feb 01, 2008 (LBO) – Janashakthi Insurance has tied up with India’s ICICI Bank to launch bancassurance services in Sri Lanka but says high capital requirements and regulations in India constrain access to the competitive market on the sub-continent. Janashakthi Insurance Company Thursday signed a bancassurance agreement with ICICI Bank to promote insurance to banking […]
Electronic Crime
Feb 01, 2008 (LBO) – Canadian police are probing links with Sri Lanka’s Tamil Tigers in a bank payment card fraud involving suspects of Sri Lankan origin, a media report said. Canadian police had stopped a car that ran a stop sign and arrested two Canadian and two British residents of Sri Lankan origin with […]
Sri Lanka and India in talks over Weerawila airport
Feb 01, 2008 (LBO) – India’s Cochin airport said a delegation had met Sri Lanka’s president Mahinda Rajapakse and visited a site in the island’s south where it is interested in developing a new airport. Cochin International Airport Limited (CIAL) said it had met aviation minister Chamal Rajapakse who is the president’s brother, central bank […]