Author: lbostgadmin
Sri Lanka stocks close down 1-pct
June 25, 2013 (LBO) – Sri Lanka’s stocks closed down 1.03 percent Tuesday with the heavy index stocks continuing to slide while an equities research house forecasted the stock market to gain from mid 2012. In the banking sector, Sampath Bank closed at 202.70 rupees up 20 cents and Commercial Bank of Ceylon lost 2.00 […]
Cricket: India deny England in Champions Trophy thriller
BIRMINGHAM, June 23, 2013 (AFP) – India added the Champions Trophy title to the World Cup they won two years ago after seeing off England by five runs in a dramatic final at Edgbaston on Sunday. Tournament hosts England, still to win a major one-day international title, appeared to have done the hard work in […]
Sri Lanka exports down 6.8-pct in April
June 24, 2013 (LBO) – Sri Lanka’s exports fell 6.8 percent in April 2013 to 696.6 million US dollars with apparels falling 14.98 percent to 275 million US dollars from a year earlier, and exports in first four months down 7.8 percent, the Central Bank said. Industrial exports were down 7.5 percent to 518 million […]
Media Policy
June 23, 2013 (AFP) – Sri Lanka’s president has scrapped a contentious code of conduct for journalists after editors and rights groups condemned it as a further blow to press freedom, government and media sources said Sunday.President Mahinda Rajapakse ordered his information ministry not to proceed with the proposed code of conduct bill, but instead […]
Bond Deterrent
June 24, 2013 (LBO) – A pilot scheme to charge a 3,000 sterling immigration bond from visitors in five countries including Sri Lanka will only apply to the “highest risk applicants”, the British High Commission in Colombo said. The pilot will be evaluated to make it permanent, the statement said. Children under 18-year will be […]
Credit Level
June 24, 2013 (LBO) – Fitch Ratings said it had downgraded Sri Lanka’s National Development Bank by one level to ‘AA-(lka)’ amid greater retail lending. The agency also downgraded the bank’s outstanding subordinated redeemable debentures to ‘A+(lka)’. Both A+(lka) and AA-(lka) are in the investment grade. Project loans have reduced as a share of total […]
Sri Lanka stocks close down 0.10-pct
June 24, 2013 (LBO) – Sri Lanka’s stocks closed down at 0.10 percent on Monday continuing its downward trend from the previous week with investors taking profit and losses in the heavy index stocks, brokers said. Distilleries Company crossed closed at 192.80 rupees down 1.50 rupees and The Lions Brewery closed at 392.30 rupees up […]
Sri Lanka foreign reserves up in April
June 24, 2013 (LBO) – Sri Lanka’s foreign reserves rose 168 million US dollars to 6,858 million US dollars in April 2013 from 6,689.50 million US dollars in March, Central Bank data showed. The central bank said gross official reserves were equal to 4.4 months of imports. In April a state-run bank raised money abroad […]
Sri Lanka sells US$254mn in 3, 5-year bonds
June 24, 2013 (LBO) – Sri Lanka had sold 90 million US dollars of 3-year bonds at premium of 400 basis points above the London Interbank offered Rate and 164 million US dollars of 5-year bonds at 415 basis points above Libor, the state debt office said.In March 2013 Sri Lanka also sold 3-year bonds […]
Sri Lanka Telecom bills to be collected from home
June 24, 2013 (LBO) – Sri Lanka Telecom said it had added doorstep bill collection service to their existing network of 3,000 payment points, made up of bank branches and supermarkets, making it easier to settle bills. Under a deal inked with HDFC Bank, a mortgage lender, SLT will use its 300-strong mobile collections team […]
Sri Lanka bond yields move higher, rupee steady
June 24, 2013 (LBO) – Sri Lanka’s bond yields spiked further Monday as some foreign investors sought to shorten the maturity of their positions, dealers said but there were no significant outflows, officials said.The yield on a popular 5-year bond maturing on 2018 spiked to as much as 11.70 percent, from Friday’s 11.48 levels, before […]
Sri Lanka should guard against weather shocks: World Bank
June 23, 2013 (LBO) – Sri Lanka should take steps to guard against shocks from weather related events with projections of rising sea levels and higher temperatures from climate change, the World Bank, a multilateral lender has said.Meanwhile the World Bank said it there had been bad weather in Sri Lanka’s coast and it will […]