Author: lbostgadmin
Sri Lanka tourist arrivals reach 2013 target after data revision
Jan 08, 2014 (LBO) – Sri Lanka said it had received 1.27 million tourists, topping a 1.2 million target for 2013 after changing the method of calculation, as concern grows over the credibility of state data.The latest tourism statistical reports come amid a call by business chambers to probe allegations of manipulating gross domestic product […]
Sixer
Jan 08, 2014 (LBO) – HSBC said it had helped sell the sixth Sri Lanka sovereign bond with the latest one billion US dollar 5-year bond.“Counting over 120 years in Sri Lanka, we are the only bank to have consecutively partnered the Government of Sri Lanka on all of its sovereign bond issuances since 2007,” […]
Sri Lanka stocks surge 1.2-pct
Jan 08, 2014 (LBO) – Sri Lanka stocks surged 1.2 percent higher Wednesday as interest rates continued to fall, extending gains from a day earlier, brokers said. The Colombo benchmark All Share Price Index closed 77.40 points higher at 6,054.47, up 1.29 percent. The S&P SL20 closed 49.86 points higher at 3,350.31, up 1.51 percent. […]
Sri Lanka gilt-backed yields drop ahead of auction
Jan 08, 2014 (LBO) – Sri Lanka’s secondary market gilt-backed yields have dropped sharply ahead of a Treasuries auction Wednesday and the arrival of proceeds of a sovereign bond next week, dealers said.There has been direct state borrowing from banks, especially to fund roads, instead of relying only on Treasury bills, which analysts say may […]
Sri Lanka Treasuries yields drop
Jan 08, 2014 (LBO) – Sri Lanka’s Treasuries yields dropped across maturities at Wednesday’s auction with the 12-month yield falling 53 basis points to 7.42 percent, data from the state debt office showed.The 3-month yield fell 42 basis points to 7.00 percent and the 6-month yield dropped 33 basis points to 7.20 percent. The state […]
Sri Lanka chambers ask for probe on official statistics
Jan 07, 2014 (LBO) – Sri Lanka’s key business chambers have called for a probe on official statistics following reports on how an official was allegedly asked to boost gross domestic numbers in a court filing. “If such doubts were to persist, it would lead to a lack of credibility on a range of published […]
Sri Lanka stocks close up 0.5-pct
Jan 07, 2014 (LBO) – Sri Lanka stocks end 0.54 percent higher Tuesday with banking and tobacco stocks gaining, brokers said. The Colombo benchmark All Share Price Index closed 32.08 points higher at 5,977.07, up 0.54 percent. The S&P SL20 closed 19.21 points higher at 3,300.45, up 0.59 percent. Turnover was 716.25 million rupees, up […]
Sri Lanka sells one billion US dollar bond at 6.0-pct
Jan 07, 2014 (LBO) – Sri Lanka has raised a billion US dollars from a 5-year sovereign bond at 6.0 percent. The bond proceeds are expected to ease government borrowing requirements and help keep interest rates in check.A source close to the deal said the offer had generated over 3.0 billion US dollars in orders […]
‘BB-(EXP) by Fitch
Jan 06, 2014 (LBO) – A one billion US dollar sovereign bond by Sri Lanka has been rated ‘BB-(EXP)’ by Fitch.– No sustained rise in commodity prices, particularly in crude oil, in line with Fitch’s Global Economic Outlook. Fitch said though debt levels were high, a budget for 2014 signalled a commitment to reduce debt […]
” by S&P
Jan 06, 2014 (LBO) – Standard and Poor’s has given a ‘B+’ rating for Sri Lanka’s sovereign bond marketed. Sri Lanka’s growth was helped by reconstruction, improving finances of state enterprises and low inflation. Bu the country had high debt, growing external borrowing and weak institutions. Sri Lanka’s Global Bond Issue Due 2019 Rated ‘B+’ […]
‘s
Jan 07, 2014 (LBO) – A sovereign bond by Sri Lanka has been rated a proposed (P)B1 by Moody’s.The agency said inflation has improved in the recent past and may remain low but the fiscal picture had to improve. “Over the longer term, the government’s credit profile would improve from more progress in fiscal consolidation […]
US investors buy 62-pct of Sri Lanka sovereign bonds: report
Jan 07, 2014 (LBO) – US based investors have bought 62 percent of a billion US dollar sovereign bond sold by Sri Lanka, a media report said.About 89 percent were bought by fund managers, 8 percent banks and 2 percent private banks. Sources close to the deal said 3.2 billion worth of bids had come […]