Category: Economy and Markets
Sri Lanka stocks end higher
Jan 10, 2014 (LBO) – Sri Lanka stocks close up 0.23 percent for the fourth consecutive day with banking and property stocks gaining, brokers said. Lanka Orix Leasing Company closed 50 cents lower at 71.50 rupees and Sri Lanka Telecom closed flat at 37.10 rupees. Aitken Spence closed 1.40 rupees higher at 106.20 rupees and […]
Sri Lanka targets US$2.5bn in FDI in 2014
Jan 10, 2014 (LBO) – Sri Lanka is targeting 2.5 billion US dollars in foreign direct investors in 2014 with 2013 estimated to have drawn about 1.3 billion US dollars, a minister said. Investment promotions minister Lakshman Abeywardene said FDI inflows had reached 870 million US dollars by September and full year data was still […]
Sri Lanka stocks close up 0.2-pct
Jan 09, 2014 (LBO) – Sri Lanka stocks end 0.25 percent higher Thursday with tobacco and diversified stocks gaining, brokers said. The Colombo benchmark All Share Price Index closed 14.87 points higher at 6,069.34, up 0.25 percent. The S&P SL20 closed 12.08 points higher at 3,362.39, up 0.36 percent. Turnover was 1.57 billion rupees, up […]
Sri Lanka new 5-year sovereign bond pricing will help private firms: Standard Chartered
Jan 08, 2014 (LBO) – A 6.0 percent benchmark yield on a billion US dollar sovereign bond will help corporates seeking foreign finance this year, Standard Chartered Bank said. The bond was lead managed latest sovereign bond was managed by Citi, HSBC, Standard Chartered and UBS. Sri Lanka sold the bond following some uncertainty in […]
Sri Lanka Treasuries yields drop
Jan 08, 2014 (LBO) – Sri Lanka’s Treasuries yields dropped across maturities at Wednesday’s auction with the 12-month yield falling 53 basis points to 7.42 percent, data from the state debt office showed.The 3-month yield fell 42 basis points to 7.00 percent and the 6-month yield dropped 33 basis points to 7.20 percent. The state […]
Sri Lanka gilt-backed yields drop ahead of auction
Jan 08, 2014 (LBO) – Sri Lanka’s secondary market gilt-backed yields have dropped sharply ahead of a Treasuries auction Wednesday and the arrival of proceeds of a sovereign bond next week, dealers said.There has been direct state borrowing from banks, especially to fund roads, instead of relying only on Treasury bills, which analysts say may […]
Sri Lanka stocks surge 1.2-pct
Jan 08, 2014 (LBO) – Sri Lanka stocks surged 1.2 percent higher Wednesday as interest rates continued to fall, extending gains from a day earlier, brokers said. The Colombo benchmark All Share Price Index closed 77.40 points higher at 6,054.47, up 1.29 percent. The S&P SL20 closed 49.86 points higher at 3,350.31, up 1.51 percent. […]
” by S&P
Jan 06, 2014 (LBO) – Standard and Poor’s has given a ‘B+’ rating for Sri Lanka’s sovereign bond marketed. Sri Lanka’s growth was helped by reconstruction, improving finances of state enterprises and low inflation. Bu the country had high debt, growing external borrowing and weak institutions. Sri Lanka’s Global Bond Issue Due 2019 Rated ‘B+’ […]
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Jan 07, 2014 (LBO) – A sovereign bond by Sri Lanka has been rated a proposed (P)B1 by Moody’s.The agency said inflation has improved in the recent past and may remain low but the fiscal picture had to improve. “Over the longer term, the government’s credit profile would improve from more progress in fiscal consolidation […]
US investors buy 62-pct of Sri Lanka sovereign bonds: report
Jan 07, 2014 (LBO) – US based investors have bought 62 percent of a billion US dollar sovereign bond sold by Sri Lanka, a media report said.About 89 percent were bought by fund managers, 8 percent banks and 2 percent private banks. Sources close to the deal said 3.2 billion worth of bids had come […]
Sri Lanka says response to latest bond sale shows investor confidence
Jan 07, 2014 (LBO) – A billion US dollar 5-year sovereign bond sale at 6.0 percent, below yields seen in similar issues earlier is a sign of investor confidence amid turbulent markets, the state debt office said. Fund Managers were the largest investors in the transaction, representing 89 per cent, with Banks and Private Banks […]
Sri Lanka chambers ask for probe on official statistics
Jan 07, 2014 (LBO) – Sri Lanka’s key business chambers have called for a probe on official statistics following reports on how an official was allegedly asked to boost gross domestic numbers in a court filing. “If such doubts were to persist, it would lead to a lack of credibility on a range of published […]