Author: lbostgadmin
Sri Lanka Treasuries yields plunge
Jan 02, 2013 (LBO) – Sri Lanka’s Treasuries yield fells across the board at Wednesday’s auction with the six month yield plunging as much as 33 basis points, data from the state debt office showed.The debt office offered 20 billion rupees of bills at the auction and sold a total of 30.2 billion rupees of […]
Sri Lanka G-Sec short selling to be allowed, counter party risks cut
Jan 02, 2013 (LBO) – Sri Lanka will allow covered short selling of Treasuries, issues will be underwritten, and central clearing will be set up to cut counterparty risk as part of efforts to boost market efficiency, Central Bank Governor Nivard Cabraal said.Sri Lanka’s central bank issues government securities on behalf of the Treasury and […]
Sri Lanka to add Yuan bonds to forex reserve assets
Jan 02, 2013 (LBO) – Sri Lanka will diversify its foreign reserve assets to reflect government debt and Yuan denominated bonds are a candidate, Central Bank Governor Nivard Cabraal said. Sri Lanka has borrowings mainly in US dollars, Japanese Yen, Special Drawing Rights and Euro but China has become a large lender over the past […]
Sri Lanka economy in fast adjustment for renewed growth: CB Governor
Jan 01, 2013 (LBO) – Sri Lanka’s economy has responded quickly to corrective measures and is looking for stronger growth this year with the budget gap for 2012 on track and the exchange rate strengthening again, Central Bank Governor Nivard Cabraal said. “This is the fastest adjustment period in our history,” Central Bank governor Nivard […]
Stepping Down
Jan 01, 2013 (LBO) – Gamini Wickramasinghe, who is stepping down as chairman of Sri Lanka’s Bank of Ceylon said dealing with loan applicants who expected patronage was among the biggest challenges in managing a state entity. “A lot of people expect to get loans from a state bank and think it is easy if […]
More Connections
Jan 01, 2012 (LBO) – A road circling Sri Lanka’s capital Colombo which connects to a new expressway network will get an additional interchange to accommodate projected traffic from a fast developing area, a top official said.The outer circular highway will get an extra interchange near Athurugiriya town, Road Development Authority chairman R W Pemasiri […]
”’ rating confirmed: RAM
Jan 01, 2012 (LBO) – RAM Ratings said it had confirmed an ‘AA-‘ rating of Sri Lanka’s Hayleys group, a diversified group with interests in export manufacturing, agriculture and power, with a stable outlook. “The ratings are upheld by the Group’s diversified business portfolio, strong market positions in several key businesses coupled with the Group’s […]
‘s central bank slashes Treasuries holding with profit transfer: Governor
Dec 31, 2012 (LBO) – Sri Lanka’s central bank has cut its Treasury bill holding with a year-end transfer of profits Governor Nivard Cabraal said, in a move that will help avoid any negative effect on inflation, the exchange rate and foreign reserves. “We knocked off Treasury bills with it (profit transfer),” Cabraal said. A […]
Sri Lanka inflation rises 9.2-pct in 2012
Dec 31, 2012 (LBO) – Sri Lanka’s inflation rose 9. 2 percent to in the 12-months to December 2012 from a year earlier, with the Colombo Consumer Price Index rising 0. 9 percent during the month, the state statistics office said. The statistics office said the food sub group in the index from which heavily […]
Sri Lanka ICC, Nivasie in Rs3.6bn property venture
Dec 31, 2012 (LBO) – Sri Lanka’s International Construction Consortium (Pvt) Ltd, is promoting a 3. 6 billion rupee property development in Malabe in the outskirts of the capital Colombo, the state investment promotion agency said. The project will be financed with equity, debt financing facilities from banks and pre-sales. ICC will build 100 two-storied […]
Fourth Generation
Dec 31, 2012 (LBO) – Mobitel, a unit of Sri Lanka Telecom, the country’s largest fixed access provider, said it had launched fourth generation services (4G) using LTE (long term evolution) technology, Mobitel said it was the first company in South Asia to trial the services in May 2011 with downlink speeds exceeding 96Mbps. “Mobitel […]
Sri Lanka travel agency moves into hotels
Dec 31, 2012 (LBO) – Sri Lanka’s Worldlink Travels is building a chain of small luxury hotels with the first 12-roomed property opening in Kandy in the central hills, a media report said. “We see a huge opportunity in the hotel segment hence we are planning to open a chain of small hotels under the […]