Category: Economy and Markets
Sri Lanka sells Rs32.3bn of 4, 6 and 8 year bonds
June 29, 2015 (LBO) – The issue of treasury bonds amounting to 30 billion rupees have been oversubscribed with 79.15 billion rupees of bids received from investors.The central bank has accepted 3.7 billion rupees of four year bonds maturing on 01 June 2020 at a weighted average yield rate of 8.16. The bond auction held […]
Sri Lanka to get USD165mn credit to up access to piped water servicers
June 29, 2015 (LBO) – The World Bank Board has approved a 165 million US dollars credit for Sri Lanka to increase access to piped water services and improved sanitation in the Mullaithivu, Kilinochchi, Nuwara Eliya, Badulla, Monoregala, Kegalle and Ratnapura Districts. The bank says around 450,000 people are expected to benefit under the project, […]
Sri Lanka keeps key policy rates steady, credit to private sector grows in April
June 29, 2015 (LBO) – Sri Lanka’s Central Bank has decided to maintain its standing deposit facility rate and the standing lending facility rate unchanged at 6.00 percent and 7.50 percent, respectively. The Central Bank’s monetary board at its meeting held on 26 June 2015 has also decided to keep statutory reserve ratio stable at 6.00 […]
Sri Lanka’s Bartleet Finance and Orient Finance to be merged
June 29, 2015 (LBO) – Sri Lanka’s Bartleet Finance Plc, and Orent Finance had been given approval by shareholders, to merge both companies, Orient Finance said in a stock exchange listing.“Existing shareholders would get a payment of 14.97 rupees per share for every one ordinary share of Orient finance or 01 ordinary voting share in […]
Nation Lanka finance to issue Rs502mn right issue
June 26, 2015 (LBO) – Sri Lanka’s Nation Lanka finance, a finance company to issue 502 million right issue to existing shareholders to strengthen the core capital of the company. The company will issue 502,326,522 shares in a proportion of two shares for every one share held, the company said in a stock filing. A […]
“Government job is not to defend its human rights record but to defend human rights”
June 26, 2015 (LBO) – Sri Lanka’s foreign policy should have preventive diplomacy approach addressing concerns with human rights and prevent those becoming foreign policy issues, Governor of Northern Province said. “Some of the foreign policy challenges including concerns with human rights issues also remain,” G S Palihakkara, Governor of Northern province said. “These could […]
Sri Lanka needs to look beyond developing infrastructure to uplift economy: New CCC Chief
June 26, 2015 (LBO) – Sri Lanka needs to look beyond developing infrastructure as a strategy to uplift the economy and minimize the gaps between urban and rural sector through regional inclusivity, strengthening small and medium enterprises and development of education and skill, a chamber official said. “Looking back we have achieved much but fresh […]
Sri Lanka gross official reserves at USD7.6bn this week: Central Bank
June 26, 2015 (LBO) – Sri Lanka’s gross official reserves are estimated to have increased to 7.6 billion US dollars as of 22 June 2015, and expected to stabilize at comfortable levels in the coming months, the Central Bank said.Proceeds of the latest international sovereign bond, Sri Lanka development bonds and the currency swap arrangement […]
Exports drop 7.4-Pct in April 2015 YOY; trade gap widens: Central Bank
June 25, 2015 (LBO) – Sri Lanka’s export earnings dropped 7.4 percent to 708 million US dollars in April 2015 from a year earlier mainly due to the reduction in tea and petroleum product exports, the Central bank said. The reductions recorded in exports earnings from tea, petroleum products, sea foods, rubber products, textiles and […]
Sri Lanka sells USD327mn of 1, 3 and 5 year development bonds
June 25, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 100 million US dollars have been oversubscribed with 357.00 million US dollars of bids received from investors.The central bank has accepted 255.00 million US dollars of one year bonds at a floating rate of weighted average margin over six month LIBOR […]
Stocks close down 0.3-pct ahead of possible polls call
June 25, 2015 (LBO) – Sri Lanka’s stocks closed lower with index heavy stocks losing ground ahead of possible dissolution of Parliament, brokers said. The Colombo benchmark All Share Price Index closed 22.50 points lower at 7,031.33 down 0.32 percent and the S&P SL20 closed 14.34 points lower at 3,913.06 down 0.37 percent. Turnover was […]
JKH waterfront properties finalise USD395mn loan
June 25, 2015 (LBO) – Sri Lanka’s Waterfront properties limited, a subsidiary of John Keells holding said it has finalized a syndicated project development facility amounting to 395 million US dollars with Standard Charted bank, concluding the required debt finance for the project. The financing will be utilize for developing the waterfront project in the […]