Category: Economy and Markets
SriLankan flight diverted over bomb claim
Sept 22, 2013 (LBO) – State-run SriLankan Airlines said its flight to London’s Heathrow airport was diverted to Stansted after a passenger claimed that he had a parcel bomb.The passengers had been transferred by Heathrow by coach. A British national had claimed that he had a bomb on board just as SriLankan’s UK503 was beginning […]
”’ rating ahead of bond sale
Sept 20, 2013 (LBO) – Sri Lanka’s DFCC Bank has been given a ‘B’ international rating by Standard and Poor’s ahead of a bond sale. “DFCC’s business position reflects our view of the bank’s satisfactory business stability, diversification, management, and strategy compared with that of peers in emerging markets,” said Standard & Poor’s credit analyst […]
‘s first online investment application from UK oil services firm
Sept 19, 2013 (LBO) – Sri Lanka’s foreign investment agency said a UK based oil services firm had been the first to use its online investment application portal on September 18, within a day of its launch.Sri Lanka’s Board of Investment launched the web portal for investment applications on September 17, promising to make the […]
Four Sri Lankans on global economics blog
Sep 19, 2013 (LBO) – Future Development: Economics to End Poverty, a blog to create a discussion on global development issues has been launched, led by World Bank economist Shanta Devaranjan in which four Sri Lankans are included.Basic tools of mobility that helped improve living standards and productivity in ‘developed countries’ such as cars and […]
”’ international rating confirmed: Fitch
Sept 18, 2013 (LBO) – Fitch Ratings said a ‘B+’ international rating of Sri Lanka’s People’s Leasing and Finance has been confirmed with a stable outlook. The company’s domestic ‘AA(lka)’ rating has also been confirmed. People Leasing is a unit of Sri Lanka’s state-run People’s Bank. The full statement is reproduced below: Fitch Affirms People’s […]
Sri Lanka stocks close down 0.08-pct
Sept 18, 2013 (LBO) – Sri Lanka stocks extended losses Wednesday closing 0.08 percent lower despite foreign buying, brokers said. Sept 19, 2013 (LBO) – Sri Lanka stocks extended losses Wednesday closing 0.08 percent lower despite foreign buying, brokers said. The market fell 0.33 percent on Monday and 0.58 percent on Tuesday. The Sri Lanka […]
Sri Lanka Treasuries yields flat
Sept 19, 2013 (LBO) – Sri Lanka’s Treasuries yields were flat across maturities at Tuesday’s auction though less than half the volume offered was sold to bidders in the market, data from the state debt office showed.The 3-month yield was 8.61 percent, the six month yield was 9.64 percent and the 12-month 10.57 percent. The […]
Sri Lanka holds policy rates, says lending rates easing
Sept 17, 2013 (LBO) – Sri Lanka’s central bank kept its policy rate band at 7.0 and 9.0 percent saying lower pressure from the state budget deficit is expected to bring down lending rates further.“Continued fiscal consolidation efforts by the government and greater financial discipline of public corporations are expected to reduce the public sector’s […]
Sri Lanka stocks close down 0.4-pct
Sept 17, 2013 (LBO) – Sri Lanka stocks closed 0.43 percent lower on dull investor sentiments with losses in groups such as Carsons, Cargills and Ceylon Tobacco, brokers said. The benchmark Colombo ASPI closed 24.86 points lower at 5,705.26, down 0.43 percent, and the S&P SL20 closed 18.34 percent lower at 3,161.90 down 0.58 percent. […]
‘s BOI launches online investment portal
Sept 19, 2013 (LBO) – Sri Lanka has launched Board of Investment launched an online portal for investors to submit applications making it even easier, investment promotions minister Lakshman Abeywardene said. “This makes it very easy for investors to submit applications,” he told reporters. “They can also pay the relevant fees.” An investor can create […]
Sri Lanka gets US$540mn in FDI in 2013 first half
Sept 17, 2013 (LBO) – Sri Lanka has received 540 million US dollars in foreign direct investments up to June 2013 up 20 percent from a year earlier, investment promotions minister Lakshman Abeywardene said.The top investor in the period was Colombo International Container Terminal, from China and Hong Kong with 116.7 million US dollars, followed […]
Sri Lanka stocks close lower, rupee steady
Sept 16, 2013 (LBO) – Sri Lanka’s stocks closed 0.3 percent down in a broad sell-off led by a a tobacco monopoly, and the rupee was steady, brokers and dealers said. LBO’s economic analyst fuss-budget says the rupee can come under renewed pressure if the Central Bank buys the dollars from the loan, generates tens […]