Category: Economy and Markets
Sri Lanka shares close up 0.4-pct
Apr 08, 2014 (LBO) – Sri Lanka’s shares close up 0.39 percent higher with diversified John Keells Holdings gaining amid favorable bond market conditions, brokers said. Asian Hotels and Properties closed 2.00 rupees higher at 65.00 rupees and HNB closed 2.80 rupees lower at 150.20 rupees. Carson Cumberbatch closed 4.00 rupees lower at 361.00 rupees […]
Sri Lanka expects 7.8-pct growth in 2014 despite drought
Apr 08, 2014 (LBO) – Sri Lanka is expecting 7.8 percent growth in 2014, officials said despite a drought that is hurting agriculture and requiring more credit for power subsidies, which has de-stablised the economy in the past.“The drought is worrying us to some extent,” Central Bank Governor Nivard Cabraal said. “In the agricultural side […]
Sri Lanka sells US$500mn bonds at 5.125-pct; oversubscribed 8.3 times
Apr 08, 2014 (LBO) – Sri Lanka has sold a 500 million dollar 5-year bond to yield 5.125 percent a year, lower than a 6.0 percent paid in January, with the offer oversubscribed 8.3 times. Fund managers took 81 percent of, banks 13 percent, private banks 3 percent and insurers 3 percent. Sri Lankan bonds […]
HSBC in seven Sri Lanka sovereign bond sales in a row
Apr 08, 2014 (LBO) – HSBC said it had helped lead manage all seven sovereign bond sales for Sri Lanka since 2007 following the latest sale Monday of 500 million US dollar 5-year bond for 5.125 percent. Public debt is managed for the Treasury by the Central Bank of Sri Lanka (CBSL). “We feel it’s […]
” 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 end down 0.1-pct
Apr 07, 2014 (LBO) – Sri Lanka’s shares end in the red Monday with finance and insurance sector losing ground, brokers said. The Colombo benchmark All Share Price Index closed 6.17 points lower at 6,048.38 down 0.10 percent. The S&P SL20 closed 1.67 points lower at 3,321.43, down 0.05 percent. Turnover was 537.61 million rupees, […]
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 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 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 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 […]