Category: Economy and Markets
‘s Sampath Bank to sell Rs5.0bn in debt
Oct 17, 2013 (LBO) – Sri Lanka’s Sampath Bank said it planned to sell 5.0 billion rupees of debt listed on the Colombo Stock Exchange. The bank will offer 25 million debentures of 100 rupees each, and another 25 million if the first tranche is oversubscribed. Interest earned on listed debentures is tax free. .
‘s Bank of Ceylon says strong demand for debt offer
Oct 17, 2013 (LBO) – A planned 8.0 billion rupee debt offer by state-run Bank of Ceylon is seeing strong demand with preliminary orders and interest assessed at about 15 billion rupees, officials said. Tier II capital instruments are normally not intended for retailers, but only to institutions who are expected to keep an eye […]
Allianz Lanka supports Paralympic movement in Sri Lanka
Oct 17, 2013 (LBO) – Allianz Lanka, a unit of Germany’s Allianz insurance group said it was supporting the Paralympic movement in Sri Lanka. Allianz has a partnership with the International Paralympic Committee since 20006 has tied up with Sri Lanka’s National Federation of Sports for the Disabled (NFSD). Surekha Alles, Allianz Lanka chief executive […]
Sri Lanka values state fixed assets
Oct 15, 2013 (LBO) – Sri Lanka is valuing fixed state assets as part of efforts to move into accrual accounting and about 75 percent of land and buildings have been valued so far, an official said.State agencies do not have proper documentation such as survey plans, which makes valuation difficult, he said. The Valuations […]
Sri Lanka opposition says will reverse casino tax holidays
Oct 15, 2013 (LBO) – Sri Lanka stands to lose about 120 billion rupees a year from gaming revenues from planned casinos and taxes will be imposed if the opposition comes to power, a legislator said.John Keells Holdings has not asked for a tax holiday for gaming revenues, he said. De Silva said even if […]
Sri Lanka stocks close 0.16-pct higher, rupee weaker
Oct 15, 2013 (LBO) – Sri Lanka stocks closed 0.16 percent with foreign buying surging, mainly into the rights issue of John Keells Holdings and the rupee weakened, brokers and dealers said. John Keells Hotels closed 30 cents lower at 11.00 rupees. The rupee weakened slightly to 131.05/15 against the US dollar in late trading […]
Sri Lanka think tank releases policy report
Oct 15, 2013 (LBO) – Sri Lanka’s Institute of Policy Studies has released its annual ‘State of the Economy’ policy report. This year’s report ‘Sri Lanka’s Transition to a Middle Income Economy.’ The report covers areas of international trade, exports, state investments and spending and other policy issues. A full statement on the report released […]
US trio win Nobel Economics Prize for asset price work
STOCKHOLM, October 14, 2013 (AFP) – US trio Robert Shiller, Eugene Fama and Lars Peter Hansen won the Nobel Economics Prize on Monday for groundbreaking work on spotting trends in markets, the jury said. It was established in 1968 by the Swedish central bank to celebrate its tricentenary, and first awarded in 1969.The other prizes […]
‘s Bank of Ceylon offers up to 10-year bonds
Oct 14, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon is offering listed debentures of up to 10 years paying tax free interest up to 13.75 percent, its offer document said. The bank is offering 4.0 billion rupees in bond with an option of a further 4.0 billion rupees. The subscription opens on October […]
Sri Lanka Treasuries yield ease
Oct 14, 2013 (LBO) – Sri Lanka’s Treasuries yields eased across maturities at an auction Monday, data from the state debt office showed. The 3-month yield fell 02 basis points to 8.56 percent, the 6-months yield fell 01 basis point to 9.60 percent and the 12-month yield fell 01 basis point to 10.49 percent. The […]
Sri Lanka stocks take breather, rupee steady
Oct 11, 2013 (LBO) – Sri Lanka stocks ended a seven-day rally to close 0.17 percent lower Friday and the rupee gained slightly against the US dollar, brokers and dealers said. The rupee gained slightly against the US dollar trading at 131.07/10 in late trading in the spot market after opening at 131.12/13. Dealers said […]
” rating confirmed: Fitch
Oct 08, 2013 (LBO) – Fitch Ratings has confirmed a ‘AAA(lka)’ rating of Sri Lanka’s Ceylon Gilt-Edged Fund managed by Ceylon Asset Management Limited. “The ‘AAA(lka)’ National Fund Credit Rating is driven by the fund’s investment in government securities and repurchase agreements backed by government securities only,” Fitch Ratings said. It was also given a […]