Author: lbostgadmin
Sri Lanka forex market subdued
Apr 26, 2012 (LBO) – Sri Lanka’s forex markets were subdued with isolated quotes after the conclusion of a meeting of bank treasurers with Central Bank officials, market participants said. Dealers said there were tentative offers and 129. 50 levels to the US dollar but no active trading in late afternoon trade dealers said. The […]
‘s Bank of Ceylon US$500mn bond sale opens – Update
Apr 26, 2012 (LBO) – Subscriptions for a 500 million dollar bond by Sri Lanka’s state-run Bank of Ceylon in international markets has opened and is attracting orders, sources familiar with the matter said. . The lender hired Bank of America, Citigroup Inc. and HSBC Holdings to sell the bond after a series of investor […]
Sri Lanka to get weather based agri-insurance: IFC
Apr 25, 2012 (LBO) – International Finance Corporation (IFC), a World Bank arm that finances private firms said it was developing weather-based agricultural insurance for Sri Lanka with a micro-insurer. IFC said it was helping Sri Lanka’s SANASA Insurance to develop ‘weather index insurance’ to reduce losses to farmers from floods or droughts. “These insurance […]
Growth Spurt
April 25, 2012 (LBO) – Demand for office space in the Sri Lanka’s capital Colombo is tipped to more than double over five years, led by information technology related firms and the financial sector, a property services specialist has said. The newly opened Sri Lanka unit of Jones Lang LaSalle, an international property services company […]
Sri Lanka lures another cruise line
Apr 25, 2012 (LBO) – Sri Lanka is getting more cruise ship calls after the end of its 30-year war with the latest being the vessel MV L’Austral operated by the French cruise line Compagnie du Ponant, a statement said. The cruise vessel, owned by CMA CGM, the third largest container shipping line, made her […]
Sri Lanka rupee edges lower
Apr 25, 2012 (LBO) – Sri Lanka’s rupee was quoted at a new low of 132.80/133.20 against the US dollar edging down to a new low in mid morning trade Wednesday amid some buying pressure, dealers said. Dealers said trades were seen around 132.80/85 levels, down from 132.20 a day earlier as some exporters held […]
Sri Lanka getting strong inflows, space to support oil bills if needed: CB Governor
Apr 25, 2012 (LBO) – Sri Lanka’s rupee will be supported by inflows which are expected to be sold in the market ending current speculation and the Central Bank has space to provide dollars for oil if needed, Governor Nivard Cabraal said. Governor Cabraal said the Central Bank was ready to supply dollar for oil […]
Sri Lanka central bank probes forex dealers
Apr 25, 2012 (LBO) – The central bank will take action against dealers who are engaging speculative deals in forex markets without underlying transactions, Central Bank Governor Nivard Cabraal said. “We are now investigating into some speculative deals,” Cabraal said. He said banks are not expected to buy dollars without underlying transactions to back them. […]
Sri Lanka Treasuries yields edge up
Apr 25, 2012 (LBO) – Sri Lanka’s Treasuries yields rose 20 basis points across maturities at Wednesday’s auction with the 12 month yield reaching 12. 16 percent, the state debt office said. The 6-month yield also topped 12. 0 percent to reach 12.05 percent and the 3-month yield reached 11. 93 basis points. The debt […]
Sri Lanka state water board makes operational profit
April 24, 2012 (LBO) – State-run National Water Supply and Drainage Board has made a 1.9 billion rupees operational profit with higher revenues and a slight decline in non-revenue distribution. The Central Bank’s annual report said Water Board has given 95,728 new connections in 2011 growing total connections 7. 1 percent to 1.4 million. Revenues […]
Offshore Potential
April 24, 2012 (LBO) – Cairn India which struck gas in two offshore wells in Sri Lankan waters last year has indicated that at least one may have commercial potential so far. The company found natural gas in two of three test wells drilled in the Mannar Basin, off the island’s north-west coast, called the […]
‘s EAP group enters insurance broking with Omani firm
Apr 24, 2012 (LBO) – Sri Lanka’s EAP Group and Oman-based Risk Management Services LLC is teaming up to form an insurance broking firm amid prospects for strong growth in the island, officials said. “With the war over there is a lot of opportunities for growth,” RMS assistant general manager K Krisha Murthi said. “There […]