Author: lbostgadmin
Sri Lanka stocks flat, rupee stronger
July 17, 2012 (LBO) – Sri Lanka’s stocks closed flat Friday, losing some of the gains made a day earlier while the rupee gained sharply against the US dollar, brokers and dealers said. Representatives of Sri Lanka’s stock market met President Mahinda Rajapaksa Friday. The presidential secretariat said market representatives made proposals for an upcoming […]
Sri Lanka rupee makes steep gains
July 20, 2012 (LBO) – Sri Lanka’s rupee made steep gains against the US dollar rising as much as 131. 50/80 in late morning trade, after opening around 132. 70/133.00 levels ahead of approval of proceeds from a bond sale. The International Monetary Fund’s executive board is expected to complete the last review of a […]
Sri Lanka rupee responding to policy measures: CB Governor
July 20, 2012 (LBO) – Sri Lanka’s exchange rate is responding to policy measures taken earlier in the year, Central Bank governor Nivard Cabraal said, as the rupee rose sharply against the US dollar Friday. The central bank injected 3.1 billion rupees to partially sterilize the forex sale at 9. 56 percent, below the reverse […]
Sri Lanka inflation spike could be one-off: IMF
July 19, 2012 (LBO) – Sri Lanka’s recent spike in inflation following a steep depreciation of the currency is mostly a structural change in prices, and not continuous monetary inflation, an International Monetary Fund official said. As foreign reserves are sold down by the Central Bank, the trade gap widens and the current account deficit […]
Sri Lanka war-affected entrepreneurs to be recognised
July 19, 2012 (LBO) – Entrepreneurship awards by a Sri Lankan business chamber will include two new categories this year to recognise women running small enterprises in the former war zone and disabled entrepreneurs. Sri Lanka’s 30-year ethnic war which ended in 2009 left thousands of people disabled on both sides of the conflict and […]
Express Project
July 19, 2012 (LBO) – Sri Lanka will engage SMEC International (Pty) Ltd, an Australia based consultancy develop an expressway project from the capital Colombo to the central part of the island, to bring in private investment, a minister said. The rest of the Northern Expressway involves connects to Jaffna. A connection is also expected […]
Sri Lanka stocks up 1.4 -pct: rupee firmer
July 19, 2012 (LBO – Sri Lanka stocks ended a five day losing streak and close up1.42 percent Thursday in a broad based rally while the rupee firmed against the spot US dollar, brokers and dealers said. The Colombo All Share Price Index gained 68.47 points to 4,891.11 up 1.4 percent and the S&P 20 […]
” rating confirmed: RAM
July 19, 2012 (LBO) – RAM Ratings has confirmed an ‘Aa+’ rating of Sri Lanka’s Commercial Bank of Ceylon with a stable outlook. “The ratings are premised on the Group’s strong market position as Sri Lanka’s largest privately owned licensed commercial bank and third-largest overall..,” the rating agency said in a statement. “The ratings also […]
Indians may get freer access to Sri Lanka pepper soon
July 18, 2012 (LBO) – Indian citizens may get freer access to buy Sri Lankan pepper with the prospects of a volume ceiling on trade between the countries being relaxed soon according to a statement made by India’s envoy to Colombo. Rent-seeking Sri Lankan producers were allowed by authorities to have a large negative list […]
Sri Lanka stocks down 0.6-pct
July 18,2012 (LBO) – Sri Lanka’s stocks fell 0.6 percent Wednesday, with large cap stocks losing ground, brokers said. The Colombo All Share Price Index fell 30 points to 4,822 and the S&P 20 Index of large cap stocks fell 0.4 percent (13.02 points) to 2742.75 Turnover was 383 million rupees. Sampath Bank was the […]
Sri Lanka sells billion dollar bond to yield 5.875-pct
July 18, 2012 (LBO) – Sri Lanka has sold a 10-year bond to yield 5.875 percent sharply lower than the 6.25 percent paid last year for a bond of similar size and tenor, though risk premiums had widened. Vietnam – which like Sri Lanka – has a so-called soft-pegged central bank ran into trouble because […]
‘s Leasing to sell US$150mn bond
July 18, 2012 (LBO) – People’s Leasing Company Plc, Sri Lanka’s largest lease financier and a unit of state-run People’s Bank said it is planning to raise 150 million US dollars from a Euro dollar bond. Standard & Poor’s rated the company ‘B+’ Wednesday with a ‘stable’ outlook. “In our view, the People’s Bank group […]