Category: Economy and Markets
Sri Lanka sells US$239.4mn 3-year bonds
June 23, 2014 (LBO) – Sri Lanka has sold 239.5 million US dollars in 3-year bonds to at price of 375 basis points above the 6-monmth London interbank offered rate, the state debt office said. The bonds are sold to domestic banks and investors who are allowed have dollar assets. The market was offered 50 […]
‘s foreign reserves at US$8.9bn in April 2014
June 22, 2014 (LBO) – Sri Lanka’s foreign reserves rose to 8.9 billion US dollars in June 2014 from 8.05 billion in March, boosted by foreign borrowings and weak credit that reduced outflows, official data showed.The Central Bank said foreign reserves were now equal to 5.9 months of imports. The central bank has been buying […]
Sri Lanka warned it may suffer same fate as Vietnam
June 21, 2014 (LBO) – Sri Lanka’s Communist Party recognized Vietnam’s claims to islands which are at a centre of a dispute with China a top official said, amid warnings that Sri Lanka could suffer the same fate from aggressive large nations. “As far as we are concerned we recognize the right of the Vietnamese […]
Sri Lanka shares close down 0.2-pct
June 20, 2014 (LBO) – Sri Lanka’s shares closed 0.17 percent lower for the third straight session amid strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 10.75 points lower at 6,302.45, down 0.17 percent. The S&P SL20 closed 11.81 points lower at 3,478.86, down 0.34 percent. Turnover was 1.21 billion […]
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 stocks close down 0.1-pct
June 19, 2014 (LBO) – Sri Lanka’s stocks closed 0.07 percent lower with index heavy John Keells Holdings losing ground despite net foreign buying, brokers said. Ceylon Tobacco Company closed 5.00 rupees lower at 990.00 rupees and Nestle Lanka closed 52.00 rupees higher at 1,975.00 rupees. Hayleys closed 6.80 rupees lower at 292.20 rupees and […]
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 […]
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 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 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 […]
‘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 […]