Category: Economy and Markets
‘s sovereign rating: S&P
Aug 17, 2013 (LBO) – A low inflation level maintained by Sri Lanka’s central bank is likely to support its credit rating in the future, a senior sovereign credit analyst at Standard & Poor’s said. Sri Lanka’s inflation eased to 6.1 percent in the 12 months to July from after spiking to 9.8 percent in […]
Sri Lanka policy rates kept flat, external sector to be watched
Aug 16, 2013 (LBO)- Sri Lanka has kept policy rates steady in August with inflation moderate but the external sector will be watched closely amid currency turmoil in trading partners, the Central Bank said. “Such inflows display that the foreign investor confidence on Sri Lanka has remained unchanged despite the volatility caused by global markets […]
Sri Lanka to target mid-single digit inflation next year: CB Governor
Aug 16, 2013 (LBO) – Sri Lanka will target mid-single digit inflation from next year from the current single digit, Central Bank Governor Nivard Cabraal said. Inflation spiked to near 10 percent earlier in 2013 following high credit growth and balance of payments trouble which sent the rupee reeling to 130 to the US dollar […]
Sri Lanka hopes for current account surplus in BOP after 2016: CB Governor
Aug 16, 2013 (LBO) – Sri Lanka hopes to have a current account surplus in the balance of payments after 2016 Central Bank Governor Nivard Cabraal said. A capital account deficit country, or a country that builds up foreign reserves could have a current account surplus. “Sri Lanka will have inflows to the country,” Cabraal […]
Sri Lanka stocks close up 1.07-pct
Aug 14, 2013 (LBO) – Sri Lanka’s stocks closed up 1.07 percent Wednesday with foreign interest driving up stocks such as Ceylon Tobacco, brokers said. The benchmark Colombo All Share Index closed 1.07 points higher at 6,208.67 and the S&P SL 20 Index closed 30.87 points higher at 3,484.10 up 0.89 percent. Turnover was 1.9 […]
Sri Lanka Treasuries yields flat
Aug 14, 201 3 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesdays auction with the 12-month bills easing one basis point to 10.56 percent, data from the state debt office showed. . Three and six month bills were offered at this auction, following a gap. Three month bills were sold to yield 8.61 […]
Sri Lanka stocks close up 0.2-pct
Aug 13, 2013 (LBO) – Sri Lanka’s stocks closed up 0.21 percent Tuesday following with losses in the last few days with gains seen in the large cap stocks, brokers said. Sri Lanka’s President Mahinda Rajapaksa has directed that the factory belonging to Dipped Products Plc, a unit of Sri Lanka’s Hayleys group be relocated […]
New Zealand dismisses Sri Lanka Fonterra milk scare
WELLINGTON, August 12, 2013 (AFP) – New Zealand on Monday rejected allegations from Sri Lanka that its dairy products were contaminated with a farm chemical, accusing industry rivals of exploiting fears stirred by a recent botulism scare.While no infants fell ill after consuming tainted product, the scandal hurt Fonterra’s brand in the massive China baby […]
‘s Nawaloka Hospitals to sell Rs1.5bn in debt
Aug 12, 2013 (LBO) – Sri Lanka’s Nawaloka Hospitals Plc will sell 1.5 billion rupees in unsecured listed debt RAM Ratings Lanka said, giving them an ‘A’ rating.RAM Ratings Lanka assigns A rating to Nawaloka Hospital PLC’s proposed Listed, Rated, Unsecured and Redeemable debentures (2013/2023) RAM Ratings Lanka has assigned a long-term issue rating of […]
Sri Lanka stocks close down 0.3-pct
Aug 12, 2013 (LBO) – Sri Lanka’s stocks closed down 0.35 percent Monday following long week-end with losses in the large cap stocks, brokers said. Ceylon Tobacco Company closed at 1,201.00 down 1.00 rupee and Distilleries Sri Lanka closed at 194.00 down 0.90 rupees. The benchmark Colombo All Share Index closed 21.68 points lower at […]
‘s HNB deep discount bond sale to open Aug 23
Aug 11, 2013 (LBO) – The sale of up to three billion rupees in deep discount bonds by Sri Lanka’s Hatton National Bank will open on Aug 23.Fitch Ratings had give the proposed bond an expected rating of ‘AA-‘ same as HNB’s long term rating. The bank is offering 20 million debentures at 100 rupees […]
Sri Lanka Fonterra says milk powder safe, but recalling some product
Aug 09, 2013 (LBO) – Sri Lanka’s Fonterra unit said it was recalling some product from the market on a health ministry directive but the chemical alleged to be in milk powder was not toxic and its use had been stopped last year. Fonterra Lanka chief Leon Clement said two batches of Anchor and Anchor […]