Category: Economy and Markets
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 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 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 […]
‘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 […]
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, […]
”: Fitch
Apr 01, 2014 (LBO) – Sri Lanka’s Hemas Holdings will sell up to 1.0 billion rupees in senior debt which has been given a expected ‘A+(lka)’ investment grade rating, Fitch Ratings said. Low leverage and Moderate Liquidity: Fitch expects that the group is likely to maintain financial leverage (measured as gross adjusted debt / Operating […]
Sri Lanka inflation unchanged at 4.2-pct in March
Mar 31, 2014 (LBO) – Sri Lanka’s consumer prices rose 4.2 percent in the 12-months to March from a year earlier, with inflation unchanged from the 4.2 percent a month earlier, data from the state statistics office showed. Sri Lanka’s inflation has been muted amid weak credit growth following the end of a balance of […]
Sri Lanka stocks close flat
Mar 31, 2014 (LBO) – Sri Lanka’s stocks close flat Monday with thin foreign activity on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 3.86 points lower at 5,968.31 down 0.06 percent. The S&P SL20 closed 1.25 points higher at 3,279.92, up 0.04 percent. Turnover was 464.39 million rupees, down from […]
‘s NDB raises US$125mn with IFC backing
Mar 31, 2013 (LBO) – International Finance Corporation, a World Bank unit has helped syndicated a 125 million US dollar loan for Sri Lanka’s NDB Bank with a further 70 million US dollars to be provided by June 2014. HSBC was the ‘strategic advisor’ the syndication, the two firms said. About 75 percent of the […]