Category: Economy and Markets
” by Fitch
Apr 07, 2014 (LBO) – Fitch Ratings has given a ‘BB-‘ ‘Expected’ rating for Sri Lanka’s 500 million US dollar sovereign bond. Fitch said a fiscal deficit of 5.9 percent of gross domestic product in 2013 and a debt burned of 78.3 percent of GDP was at “relatively high levels’ but the 2014 budget signaled […]
Sri Lanka launches sovereign bond; price guidance 5.5-pct
April 7, 2014 (LBO) – Sri Lanka has begun selling a 500 million US dollar sovereign bond in international markets, a media report said. Bloomberg newswires said price guidance for the 5-year bond has been set at around 5.5 percent. Sri Lanka sold a 5-year one billion dollar bond at 6.0 percent in January but […]
Sri Lanka sovereign bond pricing narrowed
Apr 07, 2014 (LBO) – Price guidance on a 500 million US dollar 5-year bond being sold by Sri Lanka has narrowed to around 5.25 percent, a report said. The bond is expected to close later today, after US markets open. The sale is managed by Citigroup, HSBC and Standard Chartered. The bond was launched […]
Sri Lanka shares close up 0.6-pct
Apr 04, 2014 (LBO) – Sri Lanka’s shares close up 0.60 percent higher Friday with tobacco and telco stocks gaining amid strong foreign selling on diversified stocks, brokers said. The Colombo benchmark All Share Price Index closed 36.08 points higher at 6,054.55 up 0.60 percent. The S&P SL20 closed 27.60 points higher at 3,323.10, up […]
Sri Lanka shares end up 0.2-pct
Apr 03, 2014 (LBO) – Sri Lanka’s shares end up 0.23 percent higher Thursday with banking and telco stocks gaining amid strong foreign activity, brokers said. The Colombo benchmark All Share Price Index closed 13.69 points higher at 6,018.47 up 0.23 percent. The S&P SL20 closed 13.56 points higher at 3,295.50, up 0.41 percent. Turnover […]
Sri Lanka to raise US$500mn from sovereign bond
Apr 03, 2014 (LBO) – Sri Lanka is planning to sell a 5-year, 500 million US dollar sovereign bond amid more stable international conditions, market sources said.Citi, HSBC and Standard Chartered, who arranged a billion US dollar bond in January 2014, have been retained to sell the bond. The January bond due in 2019, which […]
Sri Lanka courts Thai investors
Apr 03, 2014 (LBO) – Sri Lanka is seeking more investors from Thailand, the state investment promotion office said following an investor meeting in Bangkok where there was interest in cosmetics, fisheries, agri business and retailing.The firms make, lace, synthetic sapphires and two hotels and a harvest management company is also expected to start operations, […]
Sri Lanka stocks close flat
Apr 02, 2014 (LBO) – Sri Lanka’s stocks close flat Wednesday with strong foreign buying on the board, brokers said. JKH’s W0022 warrants closed 50 cents lower at 69.00 rupees and its W0023 warrants closed 20 cents lower at 72.80 rupees. Sri Lanka Telecom closed 80 cents higher at 46.20 rupees. Ceylon Tea Services closed […]
Sri Lanka technical education, female participation to be boosted: ADB
Apr 02, 2014 (LBO) – The Asian Development Bank said it is giving a 100 million dollars loan to Sri Lanka to boost technical education and female participation in technology related courses.“This program will help reduce the significant mismatch that exists between the competencies of graduates and labor market demand, which has left youth unemployment […]
‘s Guangdong province visit Sri Lanka
Apr 02, 2014 (LBO) – A high powered delegation from China’s Guangdong provincial government had visited Sri Lanka and had expressed interest in fish processing, the state investment promotion office said. A Chinese firm is to reclaim the sea near Colombo port to build a new business district and many firms from the country are […]
Sri Lanka stocks close up 0.5-pct
Apr 01, 2014 (LBO) – Sri Lanka’s stocks close up crossing the 6,000 mark Tuesday with diversified and tobacco stocks gaining amid net foreign buying on the board, brokers said. The Colombo benchmark All Share Price Index closed 33.52 points higher at 6,001.83 up 0.56 percent. The S&P SL20 closed 19.98 points higher at 3,299.90, […]
‘s lower inflation, narrowing budget deficit to boost growth: ADB
Apr 01, 2014 (LBO) – Sri Lanka’s current relatively low inflation and a narrowing budget deficit will boost investment and growth helped by recovering exports and domestic demand, the Asian Development Bank said.Last year Sri Lanka gross domestic product was estimated to have grown by 7.3 percent in the middle of recovering from a balance […]