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Sri Lanka to assess internet, IT use in post-war census
Jan 04, 2012 (LBO) – Sri Lanka will collect information about areas like internet access in the first nation-wide household and population census to be conducted in over 30 years, an official said. A 30-year war ended in 2009 allowing the statistics office to conduct a nation-wide census. The census which is to conducted from […]
Sri Lanka to target inflation explicitly in 2012: CB Governor
Jan 04, 2012 (LBO) – Sri Lanka is moving to a more explicit inflation targeting environment setting a level of 5 to 6 percent for 2012 and priority has been shifted to maintaining prices over growth, Central Bank Governor Nivard Cabraal said. “Over the last five years we actively worked on those measures,” Cabraal said. […]
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Jan 04, 2012 (LBO) – Sri Lanka is still vulnerable to external shocks given, lower than expected year-end foreign exchange reserves and needs lasting reforms to better its credit rating, Moody’s, a rating agency has said. The island must further reduce government debt and budget deficits while a rapid and lasting improvement in credit strength […]
Sri Lanka Treasuries yields flat
Jan 04, 2011 (LBO) – Sri Lanka’s Treasuries yields were flat across maturities at Wednesday’s auction the state debt office said, while bond yields fell in the secondary market, dealers said. On Tuesday, Sri Lanka’s central bank unveiled an annual monetary policy roadmap promising to keep inflation at between 5 and 6 percent in 2012. […]
Sri Lanka stocks close 1.04-pct lower
Jan 04, 2012 (LBO) – Sri Lanka’s stocks fell 1.04 percent Wednesday in thin trade with steep falls in some small cap speculative stocks as the market failed to maintain the momentum seen in the last week of December, brokers said. The benchmark Colombo All Share Index fell 62.90 points (1.04 percent) to 5,972.7 points […]
Bond Sale
Jan 04, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the island’s largest lender is looking to sell a 500 million dollar bond in the first half of this year chairman Gamini Wickramasinghe said. “It will be during the next three to four months,” he said. “The bond will be rated.” Bank of Ceylon […]
Reliance India regains top spot in stock value
MUMBAI, Jan 4 (AsiaPulse) – Starting new year on an upbeat note, Indian giant Reliance Industries (RIL, BSE:500325) on Monday regained its position of the country’s most-valued company and pushed Tata Group firm TCS to the second slot. Tata Consultancy Services (TCS) had dethroned RIL from the pole position in market-valuation charts on December 30, […]
Sri Lanka to negotiate US$500mn in central bank swaps
Jan 03, 2012 (LBO) – Sri Lanka is planning to negotiate up to 500 million dollars in swaps with other central banks to bolster the island’s external position, Central Bank Governor Nivard Cabraal said. From August the Central Bank started to sterilize forex sales as interbank markets ran out of liquidity. “All the swaps will […]
Sri Lanka stocks close 0.7-pct weaker
Jan 03, 2012 (LBO) – Sri Lankan stocks closed weaker Tuesday in very thin turnover with two newly listed hotels among the most actively traded shares, brokers said. Both companies are part of the Citrus Leisure group and raised funds to build 150 room luxury beach resorts. John Keells Holdings was also heavily traded, closing […]
Sri Lanka LOLC buys Dickwella Resort for a billion rupees
Jan 03, 2012 (LBO) – Sri Lanka’s LOLC group has acquired control of a beach resort catering to up-market European tourists at a cost of just over a billion rupees, a stock exchange filing said. “The hotel which is much sought after by an exclusive clientele of European tourists has potential for even further expansion,” […]
India urged to allow foreign investment in pensions sector
NEW DELHI, Jan 3 Asia Pulse – The Indian government should allow FDI in the pension sector as this will increase the volume of assets which can be used to develop the country’s infrastructure, an industry study has said. “FDI in pension funds will further increase the volume of assets that can be invested into […]
‘s Religare Finvest to sell 5-pct stake to PE firm
NEW DELHI, Jan 3 (AsiaPulse) – Private equity firm Jacob Ballas may acquire a five per cent stake in India-based Religare Finvest, a non-banking financial services arm of Religare Enterprises, for about Rs 200 crore (US$37 million). The deal would value the company, an NBFC focussed on the MSME segment, at close to Rs 4,000 […]