Category: Economy and Markets
Sri Lanka launches dollar mutual fund to draw foreign investors
July 30, 2014 (LBO) – Ceylon Asset Management (CAM) has launched a dollar denominated mutual fund that will invest in sovereign debt and securities issued by rated banks and firms in Sri Lanka.CAM Managing Director Dulindra Fernando said the fund expects to draw foreign investors with a target return of over 4 percent a year. […]
Sri Lanka shares close up 0.3-pct
July 30, 2014 (LBO) – Sri Lanka’s shares closed 0.26 percent higher on Wednesday with Ceylon Tobacco Company gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 17.57 points higher at 6,801.84, up 0.26 percent. The S&P SL20 closed 6.75 points higher at 3,768.18, up 0.18 percent. Turnover was […]
”’ by Fitch
July 30, 2014 (LBO) – Sri Lanka’s first dollar bond fund to be launched by Ceylon Asset Management has been rated ‘BB-‘ the same as the government based on its expected exposure to government securities. The fund will also invest in dollar denominated bonds by licensed banks and corporates. Fitch Rates Ceylon Dollar Bond Fund […]
Sri Lanka Treasuries yields plunge to four decade lows
July 30, 2014 (LBO) – Sri Lanka’s three and six month Treasuries yields have dropped below the overnight cash withdrawal policy rate, plunging to levels not seen since the mid 1970s, official data showed.But in 2014 weak credit has put upward pressure on the currency and the Central Bank is withdrawing liquidity instead of injecting […]
Lanka Rating agency in ties up with CRISIL India
July 28, 2014 (LBO) – Sri Lanka’s Lanka Rating Agency, formerly RAM Ratings Lanka.said it had entered struck deal get technical assistance and training from India’s CRISIL. The majority shareholder of CRISIL is Standard and Poor’s.Lanka Ratings Agency Chairman Preethi Jayawardena said CRISIL had provided technical assistance to other rating agencies including RAM in Malaysia […]
Sri Lanka shares close higher
July 28, 2014 (LBO) – Sri Lanka’s shares closed higher on Monday with oil palm firms gaining amid weak foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 0.63 points higher at 6,784.27, up 0.01 percent. The S&P SL20 closed 3.47 points lower at 3,761.43, down 0.09 percent. Turnover was 493.10 million […]
IMF cuts 2014 global growth forecast, sees rising risks
WASHINGTON, July 24, 2014 (AFP) – The International Monetary Fund warned Thursday that geopolitical risks in Ukraine and the Middle East are looming over a global economy already hit by slowdowns in the US and China. “In major advanced economies, there is a risk of stagnation in the medium term,” the IMF warned, recommending that […]
Sri Lanka shares close higher
July 25, 2014 (LBO) – Sri Lanka’s shares closed 0.03 percent higher Friday amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 2.24 points higher at 6,783.64, up 0.03 percent. The S&P SL20 closed 2.30 points lower at 3,764.90, down 0.06 percent. Turnover was 1.23 billion rupees, up from 950.21 […]
Sri Lanka, India in mutual forex reserve investment pact
July 24, 2014 (LBO) – Central Bank of Sri Lanka and the Reserve Bank of India has inked a deal to buy up to 500 million dollars worth of securities in each other’s governments, in a bid to diversify reserve assets.July 24, 2014 (LBO) – Central Bank of Sri Lanka and the Reserve Bank of […]
Sri Lanka shares close lower
July 24, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent lower on Thursday with index heavy stocks losing ground, brokers said. Carson Cumberbatch closed 9.60 rupees lower at 480.00 rupees and Good Hope closed 440.00 rupees lower at 1,500.00 rupees, contributing most to the index drop. Sri Lanka Telecom closed 80 cents lower at […]
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July 23, 2014 (LBO) – Sri Lanka has a strong record in debt repayment, but interest costs and debt levels are high compared to revenues and private external commercial borrowings are adding to state borrowings, a report by Moody’s a rating agency said. Some analysts have said that Sri Lanka’s key problem is a large […]
Cricket: Steyn strikes early in second Sri Lanka Test
COLOMBO, July 24, 2014 (AFP) – Dale Steyn took two wickets in two balls to give South Africa a flying start in the series-deciding second and final Test against Sri Lanka in Colombo on Thursday.Steyn, the star of South Africa’s big win in the first Test at Galle, sent back opener Upul Tharanga and big-hitter […]