Category: Economy and Markets
” rating confirmed on lower inflation, better SOE balances: S&P
July 8, 2014 (LBO) – Sri Lanka’s ‘B+’ rating was confirmed with a ‘stable’ outlook on lower inflation and better state enterprise performance despite weak institutions and high debt service, Standard and Poor’s, a rating agency said. S & P said there was a marked improvement in state-run Ceylon Electricity Board and Ceylon Petroleum Corporation […]
Sri Lanka stocks close up 0.3-pct
July 07, 2014 (LBO) – Sri Lanka’s stocks closed 0.33 percent higher starting the week with a positive note despite net foreign selling, brokers said. Ceylinco Insurance closed 74.70 rupees higher at 1,399.90 rupees and Commercial Leasing and Finance closed 10 cents lower at 4.00 rupees. Oil palm firms Bukit Darah closed 19.70 rupees lower […]
Sri Lanka to get US$800mn ADB loan for roads
July 04, 2014 (LBO) – Sri Lanka will upgrade and maintain roads connecting more than 1,000 villages to the highways and expressways in a 906 million US dollars project with 800 million US dollars coming from the Asian Development Bank, a minister said.Sri Lanka has strengthened its road network especially after the end of a […]
Sri Lanka stocks close up 0.2-pct
July 04, 2014 (LBO) – Sri Lanka’s stocks closed 0.16 percent higher ending a week on a positive note with telco and diversified stocks gaining despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 10.23 points higher at 6,477.51, up 0.16 percent. The S&P SL20 closed 2.26 points higher at […]
Sri Lanka stocks close up 0.5-pct
July 03, 2014 (LBO) – Sri Lanka’s shares closed 0.54 percent higher on Thursday amid strong domestic participation, brokers said. The Colombo benchmark All Share Price Index closed 34.76 points higher at 6,467.28, up 0.54 percent. The S&P SL20 closed 30.48 points higher at 3,608.42, up 0.85 percent. Turnover was 1.51 billion rupees, down from […]
Sri Lanka stocks close up 0.9-pct
July 02, 2014 (LBO) – Sri Lanka’s shares closed 0.89 percent higher on Wednesday amid strong foreign buying into Hemas Holdings, brokers said. The Colombo benchmark All Share Price Index closed 56.51 points higher at 6,432.52, up 0.89 percent. The S&P SL20 closed 34.38 points higher at 3,577.94, up 0.97 percent. Turnover was 2.43 billion […]
Sri Lanka budget deficit 3.5-pct of GDP up to April
July 02, 2014 (LBO) – Sri Lanka’s has recorded a budget deficit of 3.5 percent of gross domestic product up to April 2014, and the Treasury said it was expecting to meet a full-year target of 5.2 percent. Tax on interest fell 20 percent as interest rates fell in the economy. The tax revenues were […]
Japan leads loan commitments to Sri Lanka up to April 2014
July 02, 2014 (LBO) – Sri Lanka has signed up 678.2 million US dollars in foreign loans in the first four months of 2014 and Japan led the tables giving 342.8 million US dollars for a new bridge to the capital, official data showed. Outstanding foreign debt not counting rupee denominated Treasuries owned by foreigner […]
Sri Lanka Treasuries yields steady
July 02, 2014 (LBO) – Sri Lanka’s Treasuries yields were marginally down at Wednesday’s auction though the debt office did not accept market bids to roll over all the offered volume, data showed.The 3-month yield fell 01 basis point to 6.50 percent, the 6-month yield fell 01 basis point to 6.68 percent and the 12-month […]
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July 02, 2014 (LBO) – Fitch Ratings said it had given an ‘A-(lka)’ expected rating to a planned Singer (Sri Lanka) debenture issue of up to 1.5 billion rupees. The senior unsecured debentures are rated the same as Singer (Sri Lanka) Plc. Fitch said the 3-year fixed rate debenture proceeds will be used to refinance […]
Sri Lanka shares close lower
July 01, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent lower on Tuesday boosting turnover to an eight-week high amid strong foreign buying mainly into John Keells Holdings, brokers said. Foreign investors sold 1.01 billion rupees worth shares. Ceylon Tobacco Company closed 10.60 rupees lower at 1,053.30 rupees and oil palm firm Shalimar (Malay) […]
Sri Lanka inflation at 2.8-pct in June: Statistics office
June 30, 2014 (LBO) – Sri Lanka consumer prices rose 2.8 percent in the 12-months to June 2014 from a year earlier, slowing from 3.2 percent in May, the state statistics office said. Prices during the month rose sharply by 1.1 percent, the highest monthly gain in the Colombo Consumer Price Index seen since June […]