Author: lbostgadmin
” by S & P
July 17, 2012 (LBO) – A sovereign bond launched by Sri Lanka Tuesday has been rated ‘B+’ with a stable outlook, by Standard and Poor’s on post-war growth prospects and planned fiscal reforms. However the rating was affected by weak external liquidity, increasing external debt, fundamental fiscal weaknesses, and political institutions that lack transparency and […]
Sri Lanka sovereign bond price guidance tightened
July 17, 2012 (LBO) – The price guidance on a 10-year billion US dollar bond by Sri Lanka has been narrowed to around 5.875 to 6.0 percent from an initial rate of 6.125 percent, in the wake of a strong order book, sources said. Sri Lanka raised a billion dollars last year at 6.25 percent […]
Sri Lanka and India economic ties: time running out: envoy
July 16, 2012 (LBO) – While Sri Lanka was delaying the signing of an economic partnership deal, despite India being prepared to offer concessions, similar deals were being rapidly wrapped up with other countries and regions, India’s envoy to Colombo said. Sri Lanka and India worked out a draft agreement for a Comprehensive Economic Partnership […]
Sri Lankans baptise new fish genus for atheist Dawkins
July 16, 2012 (AFP) – Sri Lankan scientists have identified a new genus of fresh water fish and named it after the evolutionary biologist and renowned atheist Richard Dawkins. Lead researcher Rohan Pethiyagoda said the new genus, named Dawkinsia, comprises nine species that are found only in South Asia and are characterised by long filaments […]
Rubber futures falls to 4-month low: report
May 16, 2012 (LBO) – October rubber futures in Tokyo fell to a 4-month low of 265 yen a kilogram (3,317 dollars a tonne) before settling at 270. 1 yen on the Tokyo Commodity Exchange, a media report said. Bloomberg newswires said rubber was still up 2. 5 percent in 2012. September futures on the […]
Maritime Map
July 15, 2012 (LBO) – Sri Lanka is at the centre of the “next great shift” in the shipping and ship building industry that is underway, the head of the world’s largest classification society said. The island’s location, big port construction projects and plans to expand its hub role, makes it well-placed to emerge as […]
Sri Lanka money markets tight, rupee steady
July 16, 2012 (LBO) – Sri Lanka’s cash markets were tight Monday with overnight gilt backed money quoted at 9. 55/65 percent very close to the Central Bank’s policy rate despite some excess liquidity, and the rupee was steady against the US dollar, dealers said. The rupee opened somewhat wide at 133.70/90 to the US […]
Debate brewing over Sri Lanka tea blending plans
COLOMBO, July 15, 2012 (AFP) – Sri Lanka’s tea industry is deeply divided over plans to boost earnings by importing cheaper leaves for blending and re-export, over fears the changes could water down the “Pure Ceylon” brand Pure Ceylon — using the country’s colonial-era name — is to tea what single malt is to whisky, […]
Sri Lanka tourist arrivals up 21-pct in June
July 15, 2012 (LBO) – Tourist arrivals to Sri Lanka rose 21.6 percent to 65,245 in June 2012 from a year earlier, with arrivals up to June rising 18.7 percent to 452,867, data from the state tourism promotion office showed. In the first half of 2012, the top generating market was India, with 85,426 up […]
Sri Lanka lowers food taxes, gas price allowed to fall
July 14, 2012 (LBO) – Sri Lanka has cut excessively high taxes on several imported foods improving the food freedoms of the poorest sections of the population and has also allowed cooking gas prices to fall. Sri Lanka was pushed into a balance of payments crisis in 2011 by credit taken to manipulate oil prices […]
Sri Lanka suggests single clearance document for regional trade
July 14, 2012 (LBO) – A single document that harmonises different regulations of South Asian countries for clearing cargo would help boost regional trade, Sri Lanka’s external affairs minister Gamini Lakshman Peiris said. Trade among countries of the South Asian region was far below its potential and simplified procedures were needed to increase volumes, he […]
Sri Lanka Army role in Jaffna minimal: Army chief
July 13, 2012 (LBO) –Sri Lanka Army’s involvement in civilian affairs in the former war zone has become ‘very minimal’ three years after it crushed the separatist Tamil Tigers and helped restore normalcy in the region, a top military officer said. Army chief Lieutenant General Jagath Jayasuriya told reporters that the Army is confined to […]