Category: Economy and Markets
Sri Lanka stocks close lower
May 23, 2014 (LBO) – Sri Lanka’s stocks closed 0.16 percent lower with tobacco stocks losing ground despite foreign buying, brokers said. Indo-Malay closed 150.00 rupees lower at 1,700.00 rupees and Shalimar (Malay) closed 98.00 rupees lower at 1,600.00 rupees. Asian Hotels and Properties closed 2.30 rupees lower at 70.00 rupees and Trans Asia Hotels […]
Kotagala Plantations raise one billion rupees from Sri Lanka listed debt
May 23, 2014 (LBO) – Sri Lanka’s Kotagala Plantations Plc said it had received orders of over a billion rupees for a stock exchange listed debenture offer. The firm planned to use 250 million rupees to repay an 18 percent term loan, 400 million rupees to settle an overdraft at 15.5 percent and 50 million […]
Sri Lanka stocks close higher
May 22, 2014 (LBO) – Sri Lanka’s stocks closed higher Thursday with low activity on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 0.85 points higher at 6,290.17 up 0.01 percent. The S&P SL20 closed 0.79 points lower at 3,465.05, down 0.02 percent. Turnover was 612.40 million rupees, down from 944.28 […]
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May 22, 2014 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Singer Finance Lanka Plc’s (SFL) rating by one level to ‘BBB(lka)’ with a ‘stable’ outlook following a cut in the rating of its parent, Singer Sri Lanka Plc. RATING SENSITIVITIES- NATIONAL RATINGS AND SENIOR DEBT A weakening in SFL’s intrinsic strength would only trigger […]
Sri Lanka Treasuries yields flat
May 21, 2014 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 12-month yield unchanged at 7.02 percent, data from the state debt office showed.The 3-month yield was unchanged at 6.57 percent. The 6-month yield eased 01 basis point to 6.75 percent. The state debt office offered 11 billion rupees of […]
‘s third coal plant to start test runs
May 21, 2014 (LBO) – Sri Lanka’s third 300 MegaWatt coal plant is to begin testing in two months and the second plant has just been handed over to state-run Ceylon Electricity Board by its Chinese contractor after initial test runs.The third plant is expected to begin its reliability test runs from June adding another […]
Sri Lanka holds rates, state guarantee for gold-backed loans: Central Bank
May 20, 2014 (LBO) – Sri Lanka’s Central Bank held policy rates at 6.5 and 8.0 percent with private credit showing positive growth in March, and said a government credit guarantee would be available for gold backed loans.The Central Bank was holding its policy repo rate at which the excess liquidity is withdrawn from the […]
Sri Lanka shares close higher
May 20, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent higher Tuesday with index heavy stocks gaining despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 2.37 points higher at 6,321.61 up 0.04 percent. The S&P SL20 closed 7.31 points higher at 3,480.10, up 0.21 percent. Turnover was 416.61 […]
Sri Lanka stocks close higher
May 19, 2014 (LBO) – Sri Lanka’s stocks closed 0.06 percent higher Monday with banking and telco stocks gaining amid net foreign buying, brokers said. NDB Capital Holdings closed 29.20 rupees higher at 499.80 rupees and NDB closed 5.60 rupees higher at 198.60 rupees. Distilleries closed 2.90 rupees higher at 208.00 rupees and Ceylon Tobacco […]
” nations by UN measure: Central Bank
May 19, 2014 (LBO) – Sri Lanka was a ‘less indebted’ nation on five out of six measures used by the United Nation’s Economic and Social Commission for Asia and the Pacific to measure foreign indebtedness, the Central Bank said.In ‘Disbursed External Debt Outstanding/Gross National Income’ Sri Lanka was placed moderately indebted (between 30 to […]
Sri Lanka gilt dealers invited to trade in listed debt, REPOs in the offing
May 19, 2014 (LBO) – Colombo Stock Exchange has invited Sri Lanka’s primary dealers in government debt and specialists in debt to register at the bourse to trade in listed corporate debt, with a repurchase mechanism on the trading system also planned.CSE chief operating officer Renuke Wijayawardhane said three primary dealers in government securities have […]
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May 19, 2014 (LBO) – Senior debt of Singer Sri Lanka Plc, a consumer durables maker has been downgraded one level to ‘A-(lka)’ by Fitch Ratings on falling profits and margins. Fitch said following value added tax hikes amid stressed economic conditions margins were declining. Singer however was managing its consumer loans portfolio well, and […]