Author: lbostgadmin
Rail Move
July 20, 2011 (LBO) – Sri Lanka has revived cargo transport into Colombo port by rail after a lapse of four decades with a shipment of export containers by SG Logistics, part of the newly listed Expolanka Holdings group. Niroza Gazzali, chief executive of SG Logistics, said they were working closely with Sri Lanka Railway […]
Sri Lanka stocks up 0.1-pct
July 20, 2011 (LBO) – Sri Lanka share prices closed mixed with the main index up just 0.10 percent after a roller-coaster ride that saw it briefly in negative territory and some interest in the hotel sector, brokers said The main All Share Price Index closed at 6,682.46, up 0.10 percent (6.76 points) while the […]
Sri Lanka launches billion dollar sovereign bond
July 20, 2011 (LBO) – Sri Lanka has launched a sovereign bond to raise a billion dollars from global capital markets, with a ‘book building’ process starting with Asian fund managers, financial sources said. The process of ‘book building’ or taking orders from fund managers starts as Asian markets open and moves to Europe as […]
Sri Lanka Treasuries yields flat
July 20, 2011 (LBO) – Yields on Sri Lankan Treasury bills stayed steady at this week’s auction, the government debt office, which is a unit of the central bank, said. The three-month yield was 7.11 percent, six-months 7.19 percent and the 12-month yield 7. 25 percent, all unchanged from the previous week. The debt office […]
” by Fitch
July 20, 2011 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar-denominated global bonds due 2021 an expected ‘BB-(exp)’ rating. “The final rating is contingent on the receipt of final documentation conforming to information already received,” it said in a statement. As the currency of settlement is specified as US dollars, the rating […]
Sri Lanka bond pricing guidance tightened
July 20, 2011 (LBO) – Pricing guidance to fund managers on a billion dollar sovereign bond for Sri Lanka has been tightened from an initial 6.5 percent to around 6.3 percent amid strong demand, financial market sources said. Sri Lanka has reported lower inflation and high growth of around 8.0 percent and the government’s budget […]
Sri Lanka may not take last IMF loan tranche: Fitch analyst
July 19, 2011 (LBO) – There is a “strong possibility” that Sri Lanka may not take the final tranche from the International Monetary Fund under a 2. 6 billion US dollar bailout program Fitch Ratings Asian Pacific director Art Woo said. IMF’s last review team decided to end quarterly reviews and move to 6-monthly reviews […]
Sri Lanka sovereign rating outlook raised by S&’s
July 19, 2011 (LBO) – Standard & Poor’s Ratings Services has raised its outlook on Sri Lanka’s long-term foreign currency sovereign credit rating to positive from stable. “The outlook on the long-term local currency rating is stable. The transfer and convertibility (T&C) assessment is unchanged at ‘B+’,” a statement said. “We revised our outlook on […]
India reveals massive uranium discovery
NEW DELHI, July 19, 2011 (AFP) – A new mine in south India could contain the largest reserves of uranium in the world, a government official said in remarks reported Tuesday, signalling a major boost for the energy-hungry nation. The government has been seeking new supplies of uranium, which is refined into nuclear fuel, but […]
Digital Network
July 19, 2011 (LBO) – Sri Lanka Telecom, a firm in which Malaysia’s UT group is a key shareholder, will invest 6. 0 billion rupees over the next two years to migrate fully into a digital network, chief executive Greg Young said. Earlier in the week, SLT’s mobile unit Mobitel said it was investing 5. […]
Sri Lanka stocks slump one-pct
July 19, 2011 (LBO) – Sri Lanka share prices slumped Tuesday for the second day after last week’s brief rally, with losses in index-heavy stocks and newly listed ones, brokers said. The main All Share Price Index closed at 6,675. 70, down 1.02 percent (68.49 points) while the more liquid Milanka index fell 0. 82 […]
Sri Lanka ratings lifted amid global turmoil
July 19, 2011 (LBO) – Sri Lanka’s central bank, which manages the government’s debt welcomed an underlying sovereign rating and an outlook upgrade from two international agencies, at a time when bond markets in the US and Europe are in turmoil. Sri Lanka has already started a series of meetings or ‘investor updates’ with bond […]