Category: Economy and Markets
Sri Lanka should continue investments, improve skills, rule of law: ADB chief
June 18, 2014 (LBO) – Sri Lanka should look at private partnerships to expand infrastructure, reform state enterprises and strengthen the investment climate by improving rule of law and governance, Asian Development Bank chief Takehiko Nakao said. Sri Lanka’s government is investing about 6 percent of gross domestic product in physical infrastructure which was higher […]
Sri Lanka Treasuries yields steady
June 18, 2014 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday auction with the 12-month yield unchanged at 7.00 percent, the state debt office said.The 3-month yield eased 01 basis point to 6.53 percent and the 6-month yield eased 01 basis point to 6.71 percent. The debt office offered 10 billion rupees in […]
Sri Lanka stocks close down 0.4-pct
June 18, 2014 (LBO) – Sri Lanka’s stocks closed 0.42 percent lower with index heavy John Keells Holdings losing ground ahead of the U.S. Federal Reserve’s policy statement, brokers said. Dialog Axiata closed 10 cents lower at 10.20 rupees and Sri Lanka Telecom also closed 10 cents lower at 47.90 rupees. Sampath Bank closed 3.00 […]
Sri Lanka policy rates unchanged, banks urged to narrow spreads
June 18, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent but urged banks to narrow spreads by cutting lending rates, as credit growth continued to be slow.Deputy Governor Nandalal Weerasinghe said Tuesday such market developments would help bring down interest rates to levels in line with deposit […]
‘BB-(EXP) by Fitch
June 17, 2014 (LBO) – Fitch Ratings has given a ‘BB- (EXP) rating for a proposed government guaranteed dollar bond by SriLankan Airlines. The full statement is reproduced below:- Fitch Rates SriLankan Airlines’s Guaranteed USD Bonds ‘BB-(EXP)’ Fitch Ratings-Singapore/Colombo-17 June 2014: Fitch Ratings has assigned SriLankan Airlines Limited’s (SLA) proposed issue of US dollar denominated […]
Sri Lanka shares close flat
June 17, 2014 (LBO) – Sri Lanka’s shares closed flat Tuesday despite net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 0.31 points higher at 6,344.41. The S&P SL20 closed 0.40 points higher at 3,521.07, up 0.01 percent. Turnover was 1.08 billion rupees, up from 957.31 million rupees a day earlier […]
Sri Lanka credit will grow faster if long-term rates fall: Deputy Central Bank Governor
June 17, 2014 (LBO) – Sri Lanka credit growth will accelerate if longer term lending rates fall further, Deputy Governor Nandalal Weerasinghe said.Sri Lanka’s inflation in the past 12-months have been in the lower single digits, though inflation spiked to near 10 percent in 2012, amid steep currency depreciation. Central Bank Governor Nivard Cabraal told […]
Sri Lanka economic growth at 7.6-pct in 1Q 2014
June 16, 2014 (LBO) – Sri Lanka’s economy grew 7.6 percent in the first quarter of 2014 from a year earlier despite the agriculture shrinking, estimates by the state statistics office showed. Agriculture, Livestock and forestry shrank 1.2 percent but helped by a 13.3 percent from fishing, the sector showed a 0.2 percent growth. Industry […]
Sri Lanka shares close up 0.1-pct
June 16, 2014 (LBO) – Sri Lanka’s shares closed 0.11 percent higher on Monday starting the week on a positive territory, brokers said. The Colombo benchmark All Share Price Index closed 6.88 points higher at 6,344.10 up 0.11 percent. The S&P SL20 closed 15.64 points higher at 3,520.67, up 0.45 percent. Turnover was 957.31 million […]
‘s Central Bank responds to concerns over foreign debt measurements
June 14, 2014 (LBO) – Sri Lanka’s Central Bank has responded to recent warnings over rising foreign debt by the government and other entities. The Central Bank said its analysis was based on central government debt. It points out that excluding inflows such as remittances also does not present a correct picture. Even more than […]
Sri Lanka shares close up 0.7-pct
June 13, 2014 (LBO) – Sri Lanka’s shares closed 0.70 percent higher on Friday ending the week on a strong note, brokers said. Nestle Lanka closed 47.10 rupees higher at 1,997.00 rupees and Sri Lanka Telecom closed 1.10 rupees higher at 48.00 rupees, contributing most to the index gain. Lanka Orix Leasing Company closed 3.50 […]
Sri Lanka to get US$1.4bn from ADB over four years
June 12, 2014 (LBO) – Sri Lanka will get 1.4 billion US dollars from the Asian Development Bank over the next four years to finance health, sanitation education and energy, officials said.In 2014 ADB is expected to disburse 406 million US dollars for ongoing projects. “ADB remains active in Sri Lanka and we want to […]