Category: Economy and Markets
PTL Watch: Yields tick higher, T-bill yields up
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People’s Insurance IPO oversubscribed
Dec 16, 2015 (LBO) – An initial public offering of 50 million ordinary shares by People’s Insurance Limited, a subsidiary of People’s Leasing and Finance, to raise 750 million rupees was oversubscribed within hours on the opening day, a statement said.SSP Corporate Services, registrars to the issue, said in a stock exchange filing that the […]
‘s proposed debenture issue A-(lka)(EXP)
Dec 16, 2015 (LBO) – Fitch Ratings has assigned Singer Sri Lanka’s proposed unsecured senior debenture issue of up to 3 billion rupees, a National Long-Term Rating of ‘A-(lka)(EXP)’. The full rating statement is reproduced below. Fitch Ratings has assigned Singer Sri Lanka PLC’s (Singer; A-(lka)/Stable) proposed unsecured senior debenture issue of up to LKR3bn […]
Sri Lanka GDP grows 4.8-pct in 2015 third quarter: Census Dept.
Dec 15, 2015 (LBO) – Sri Lanka’s gross domestic product expanded 4.82 percent in the third quarter of 2015 from a year earlier, the state statistics office said. The statistics office said agriculture grew 6.9 percent, industries by 6.2 percent and services by 3.4 percent. The economic growth rate of the country for the first […]
PTL Watch: Bond yields climb after auction
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USD 1.6 bn worth FDI expected from 66 projects, 45 expansions: BOI
Dec 15, 2015 (LBO) – Sri Lanka’s Board of Investment says they are expecting 1.6 billion US dollars worth foreign direct investments through 66 new projects and 45 expansions of existing projects. “As a result of the introduction of new procedures aimed at improving facilitation, the BOI succeeded in attracting a number of important projects […]
Fed liftoff largely priced in by emerging markets: ABN AMRO
Dec 15, 2015 (LBO) – A first rate hike by the U.S. Fed in nearly a decade expected this week is largely priced-in and emerging markets may have already seen most of the adjustment to Fed hikes, ABN AMRO said in a research report. "Fed message is likely to be relatively soothing, as we expect […]
PTL Watch: Low activity in secondary bond market
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Special economic zones, a driving force for increased trade in Asia: ADB
Dec 14, 2015 (LBO) – Special economic zones (SEZs) can be a driving force for increased trade, investment, and economic reform in Asia as it experiences a slowdown in trade, provided the right business environments and policies are put in place, a new Asian Development Bank (ADB) report said. “The expansion in the number of […]
Sri Lanka stocks close up 0.1-pct, high institutional activity
Dec 11, 2015 (LBO) – Sri Lankan stocks closed up at 0.12 percent after five consecutive days of losses on Friday with gains in Nestle Lanka and high institutional activity, brokers said. The Colombo benchmark All Share Price Index closed up 8.44 points at 6,832.35 up 0.12 percent. S&P SL20 closed 5.26 points up at […]
PTL Watch: Bond yields up 100 bp for the week
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“I Paid A Bribe” anti-corruption website launched in Sri Lanka
Dec 11, 2015 (LBO) – Sri Lanka’s government and I Paid A Bribe Sri Lanka has launched a “first of its kind” anti-corruption website www.ipaidabribe.lk to crowd source reports on corruption. President Maithripala Sirisena and Chairman of the Commission to Investiate Allegations of Bribery or Corruption (CIABOC), Dilrukshi Dias Wickramasinghe, were present at the launch […]