Author: lbostgadmin
Sri Lanka stocks close up 0.4-pct
Apr 03, 2013 (LBO) – Sri Lanka’s stock closed up 0.4 percent Wednesday helped by investor interest in banks brokers said. Aitken Spence Hotel Holdings PLC gained 3.60 rupees to close at 76.60 rupees. The benchmark Colombo All Share Index closed up 23.85 points at 5,728.47 up 0.42 percent and the S & P SL […]
Sri Lanka Treasury bill yields frozen, bids rejected
Apr 03, 2013 (LBO) – Sri Lanka’s three and six months Treasury bill yields were frozen Wednesday with market bids rejected, data from the state debt office showed.The 3-month yield was kept at 9.26 percent, 6-month bids rejected and the 12-month yield was also flat at 11.35 percent. The debt office which is a unit […]
Sri Lanka foreign reserves at US$6.8bn in January 2013
Apr 03, 2013 (LBO) – Sri Lanka’s foreign reserves had edged marginally lower by 22 million US dollar in January 2013 to 6,855 million US dollars from a month earlier, official data showed.The Central Bank said reserves were equal to 4.4 months of imports. Sri Lanka’s imports fell 21.3 percent in January 2013 from a […]
Sri Lanka exports slump 18.2-pct in Jan, trade deficit narrows
Apr 02, 2013 (LBO) – Sri Lanka’s exports fell 18.2 percent to 726.7 million US dollars in January 2013 from a year earlier, with apparel exports falling 8.9 percent to 333.9 million US dollars, Central Bank data showed.Sri Lanka has a trade deficit because domestic economic players get money abroad through means other than merchandise […]
Sri Lanka industries to get biggest subsidy after tariff hike
Apr 02, 2013 (LBO) – Industries will get an annual subsidy of nearly 15 billion rupees even after a tariff hike proposed from April, hotels will be marginally subsidized and customers classified as general purpose pay in excess of costs, an analysis by the regulator shows. A document prepared ahead of a public consultation scheduled […]
Sri Lanka hydro power output up, demand weak
Apr 02, 2013 (LBO) – Hydro power generation has picked up sharply in Sri Lanka allowing state-run Ceylon Electricity Board to cut thermal power, while demand was barely growing in January 2013, official data shows.Total power generation in the month rose just 0.6 percent to 987 GigaWatt hours (millions of units of electricity) from a […]
4G
Apr 02, 2013 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata said it had launched commercial fourth generation mobile services in Colombo, making it the first in South Asia. Dialog’s service is based on frequency division – long term evolution standard (FD-LTE) technology requiring paired bandwidth for separate uplink and downlink channels. […]
”’ rating confirmed, outlook cut: RAM
Apr 02, 2013 (LBO) – RAM Ratings Lanka has confirmed a ‘BB+’ rating of Bartleet Religare Securities (Pvt) Ltd, a stock broking joint venture between Sri Lanka’s Bartleet group and India’s Religare Capital Markets Limited, but cut its outlook to stable. RAM said the outlook was raised to positive in 2010 following the Indian tie […]
Sri Lanka heath sector to be modernized with US$200mn from World Bank
Apr 02, 2013 (LBO) – A 200 million US dollar credit has been approved to develop Sri Lanka’s health sector to meet the challenges of emerging new diseases, the World Bank said. Injuries affect mainly the young male population and account for 15 percent of all registered deaths and for approximately 18 percent of all […]
Foreign Cash
April 01, 2013 (LBO) – Sri Lanka’s DFCC Bank has raised 45 million US dollars in a loan syndicated among Middle Eastern and Asian banks, lead arranger HSBC said. “DFCC’s success in this debut international loan syndication…demonstrates the strong level of confidence placed in the Bank and on the positive growth outlook for the country […]
Credit Trend
Apr 01, 2013 (LBO) – Heavy state borrowings from banks crowded out credit to private business to a 44-month low in January 2013, despite the monetary authority cutting policy rates, official data show.Commercial banks loaned 9.7 billion rupees to private borrowers in the month, the lowest since May 2010, when 7.2 billion rupees was loaned […]
Dialog Axiata Sukuk program gets Malaysia regulator nod
Apr 01, 2013 (LBO) – Sri Lanka’s Dialog Axiata has been given the nod to issue Shariah compliant Sukuk securities by Malaysia’s regulators, a filing in the Malaysian Stock Exchange on behalf of its parent said. Approval had been received from Sri Lanka’s central bank and SEC and also Malaysia’s central bank. Malaysia’s Securities Commission […]