Author: lbostgadmin
Sri Lanka says response to latest bond sale shows investor confidence
Jan 07, 2014 (LBO) – A billion US dollar 5-year sovereign bond sale at 6.0 percent, below yields seen in similar issues earlier is a sign of investor confidence amid turbulent markets, the state debt office said. Fund Managers were the largest investors in the transaction, representing 89 per cent, with Banks and Private Banks […]
US sends envoy to Sri Lanka to discuss war crimes claims
COLOMBO, January 5, 2014 (AFP) – A top US envoy will travel to Sri Lanka on Monday to discuss allegations of war crimes ahead of a UN review of Colombo’s human rights record, officials said.US Ambassador for Global Criminal Justice Stephen Rapp will spend five days in Sri Lanka discussing rights and reconciliation following the […]
Sri Lanka stocks end 0.4-pct lower
Jan 06, 2014 (LBO) – Sri Lanka stocks close down 0.48 percent Monday with diversified stocks losing ground amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 28.81 points lower at 5,944.99, down 0.48 percent. The S&P SL20 closed 12.45 points lower at 3,282.37, down 0.38 percent. Turnover was 462.20 […]
Sri Lanka 5-year sovereign bond sale opens: report
Jan 06, 2014 (LBO) – Sri Lanka has started selling a 5-year sovereign bond with price guidance set around 6.25 percent, a media report said. Bloomberg newswires said Citigroup, HSBC Standard Chartered and UBS were managing the sale. Sri Lanka is rated B1 by Moody’s B+ by S&P) and BB- by Fitch.
Sri Lanka inflation 4.8-pct by citizen index
Jan 05, 2014 (LBO) – Sri Lanka’s inflation measured by a private consumer price index rose 4.8 percent in the 12 months of 2013 in line with the 4.7 percent measured by the state statistics office. In Feb 2012, the rupee was floated, allowing the peg to fall to around 118 to the US dollar […]
Ton-up Mathews helps Sri Lanka foil Pakistan
ABU DHABI, January 3, 2014 (AFP) – Sri Lankan captain Angelo Mathews hit a pugnacious hundred to pull Sri Lanka out of trouble on the fourth day of the first Test against Pakistan in Abu Dhabi on Friday.Mathews notched up 116 not out under pressure for his second Test hundred and put on invaluable 138-run […]
Sri Lanka expects 7.8-pct growth and 5.0-pct inflation in 2014
Jan 03, 2014 (LBO) – Sri Lanka is expected to grow 7.8 percent in 2014 as business activities pick up with inflation targeted at 5.0-pct, Central Bank Governor Nivard Cabraal said.Sri Lanka has a pegged exchange rate, loosely anchored to the US dollar and money printed by the Central Bank through domestic asset acquisitions tends […]
Sri Lanka expects 7.2-pct growth in 2013, US$7.1bn in forex reserves
Jan 02, 2014 (LBO) – Sri Lanka’s economy is expected to grow 7.2 percent in 2013 with inflation recorded at 4.7 percent and foreign reserves at 7.1 billion US dollars, the Central Bank said.Net credit to government also declined 3.5 billion rupees in November. Sri Lanka originally expected 7.5 percent growth for 2013. “Available leading […]
Sri Lanka narrows policy rate corridor
Jan 02, 2014 (LBO) – Sri Lanka’s central bank has narrowed a policy rate corridor cutting its policy rate window for injecting cash into the banking system by 50 basis points to 8.00 percent but left its rate to withdraw cash unchanged at 6.50 percent. The central bank said it would no longer give securities […]
Ton-up Younis, Misbah give Pakistan control
ABU DHABI, January 1, 2014 (AFP) – Exepreienced batsmen Younis Khan and Misbah-ul Haq hit sparkling hundreds as Pakistan took command of the first Test in Abu Dhabi on Wednesday.Shehzad also miscued a hook shot and was caught at forward square-leg by Dimuth Karunaratne after hitting three boundaries. But after those two wickets, Misbah and […]
Liberty
Jan 02, 2014 (LBO) – Sri Lanka has lifted a 100 percent cash margin requirement to import cars with immediate effect, as the exchange rate came under appreciating pressure, and the monetary authority held it down.The Central Bank said the restriction imposed on August 30, 2013 has been removed. The monetary authority has been buying […]
Mergers
Jan 02, 2014 (LBO) – Sri Lanka’s Central Bank is expecting two development banks and smaller state banks to be merged, Governor Nivard Cabraal said.National Savings Bank, another state bank will have to broaden their services, he said. New foreign banks setting up in Sri Lanka will also have to be locally incorporated. At the […]