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Spinning Dollars
The Treasury of Sri Lankas largest state bank on Monday, snapped up the entire issue of the countrys first dollar denominated two-index linked commercial paper.Hayleys MGT Knitting Mills Ltd., the textile arm of the Hayleys Group, became the first local company to come out with a US$ 700,000 three month commercial paper.rn rnThe risk averse […]
Key Treasuries
Twenty-year government treasuries will hit the market on the 20th of this month, but debt market experts say the extended yield curve has failed to stimulate the corporate bond market.The yield curve that barely extended to two years has been extended to fifteen years by the issue of long-term treasuries.rn rnPublic debt department officials say […]
Dollar Collar
Most of Sri Lanka quote s international trade is done in dollars (US) and significant movement in the US$-Rs rate, affects the pricing of both imports and exports.The rupee appreciated against the dollar over the last two months in line with the US currency quote s weakness against major currencies over the last eighteen months […]
Gloom Over Glitter
Jewelry Industry is banding together in an effort to add value to products while capitalizing on the image of the Ceylon Sapphire.rnWhile the country has a reputation for top quality sapphires very few of them get set into jewelry here. Even fewer go out with local branding.rn rnDiamonds are a girls best friend-add a bit […]
Shh’85its floating. Really!
The rupees recent rally against the US dollar is the strongest evidence since April 2002 that Sri Lankas currency is really floating, though reassuring noises are coming from Central Bank that the rupee is not likely to appreciate further.rnrnrnrnrnrnrnFrom January 2002 the Euro rose nearly 35rn rnrnrnrnrn From January 2002 the Euro rose nearly rn35% […]
Longer Horizon
The Central Bank will launch its maiden 20-year treasury bond this month with an issue of Rs. 1 bn due on October 20.Superintendent Public Debt Dept, Dharma Dheerasinghe said the bank was hoping to raise Rs. 7.7 bn through Octobers borrowing programme.rn rnldblquote We have now revised it to include the 20 year issue, which […]
Banyan Shoot
Banyan Tree on Friday picked up its third Sri Lankan leisure venture, taking up a majority holding in John Keells Holdings Beruwala Walk Inn, the parent company of Hotel Swanee. The global leisure industry giants paid Rs.47.75 per share for the 69.9% stake and will now work with JKH to refurbish and reposition the seaside […]
Paradise Calling
Cathay Pacific could add a fifth flight to Sri Lanka, with cargo and passenger numbers picking up. Airline officials here to celebrate 10 years of operations out of Sri Lanka, say demand in and out of the country is moving up with the peace process taking root. rn rnA bulk of Cathays business out of […]
’85its floating. Really!
The rupees recent rally against the US dollar is the strongest evidence since April 2002 that Sri Lankas currency is really floating, though reassuring noises are coming from Central Bank that the rupee is not likely to appreciate further.rnrnrnrnrnrnrnFrom January 2002 the Euro rose nearly 35rn rnrnrnrnrn From January 2002 the Euro rose nearly rn35% […]
Indian Ringtone
Sri Lanka Telecom (SLT) signed up with Indias teleco operator Bharat Sanchar Nigam Limited (BSNL) to route its international call traffic through Sri Lanka.BSNL has a countrywide network services over 43 million fixed line customers plus its recently rolled out mobile venture has so far attracted over four million users.rn rnA partnership with SLT will […]