Category: Economy and Markets
Sri Lanka 15-year bond yield falls at auction
July 30, 2013 (LBO) – Sri Lanka’s 15-year bond yield fall at auction by 11 basis points to 12.10 percent from the last auction while the a 30-year bond was unchanged at 12.50 percent, data from the state debt office showed. A large volume of 79 billion rupees in bonds matures on August 01. Sri […]
Sri Lanka tax revenues picking up: Treasury Secretary
July 30, 2013 (LBO) – Sri Lanka’s tax revenues are picking up helped by stronger customs collections, Treasury Secretary P B Jayasundera said.Sri Lanka’s state revenues were 51 billion rupees below target in the first four months Jayasundera said revenues were better in June and July with a pick in vehicle imports also contributing. Sri […]
Sri Lanka hopes to move to budget deficit of 4.0-pct of GDP
July 29, 2013 (LBO) – Sri Lanka is hoping to cut the budget deficit to 4.0 percent of gross domestic product and generate a 2.0 percent revenue surplus, Treasury Secretary P B Jayasundera said.Sri Lanka ran a 6.4 percent of gross domestic product overall deficit in the budget in 2012 and a 1.4 percent revenue […]
‘s Nanda Investment on positive rating watch: RAM
July 29, 2013 (LBO) – Nanda Finance Investment Plc, a small finance company that was recently acquired by Bangladesh-based BRAC micro finance group and Sri Lanka’s LOLC group has been placed on positive rating watch on a possible upgrade by RAM Ratings.RAM said the firm was small, lacked of a clear strategic direction. “However, given […]
Sri Lanka FDI flows reach $430mn in first half 2013
July 29, 2013 (LBO) – Foreign direct investment flows to Sri Lanka in the first half of 2013 reached 430 million US dollars and the full year was expected to bring 2.0 billion US dollars, investment promotion minister Lakshman Abeywardena said. The money had come mainly from Chinese and Hong Kong based companies with top […]
Sri Lanka stocks close flat
July 29, 2013 (LBO) – Sri Lanka’s stocks closed flat Monday with activity seen in the large cap stocks and some banking stocks, brokers said. Distilleries Company closed at 190.50 rupees up 30 cents while Aitken Spence closed at 124.00 down 90 cents. John Kells Holdings closed at 267.50 rupees down 0.50 rupees. The benchmark […]
Sri Lanka stocks close up 0.2-pct
July 26, 2013 (LBO) – Sri Lanka’s stocks closed up 0.23 percent on Friday with large cap stocks and some banking stocks showing gains, brokers said. C T Holdings contributed most to the index closing at 144.90 rupees up 8.70 rupees. John Keells Holdings closed at 268.00 up 1.00 rupee and Nestle Lanka closed at […]
Many Sri Lanka state agency accounts disclaimed by auditors: COPE report
July 26, 2013 (LBO) – Accounts of 18 state enterprises and agencies had been disclaimed by auditors, while another 04 had adverse opinions, some for two years running, while some others had not even submitted annual reports, a parliamentary report said. An adverse audit opinion refers to an occasion when an auditor finds enough information […]
‘s Asia Pacific chief Anoop Singh to retire
July 26, 2013 (LBO) – Anoop Singh, director of the International Monetary Fund’s Asia Pacific Department and one-time country representative of Sri Lanka is to retire. “Anoop’s departure will deprive the Fund of one its most distinguished staff members, and his friends of a hugely admired colleague,” IMF managing director Christine Lagarde said in a […]
Loans to eurozone businesses drop sharply: ECB
FRANKFURT, July 25, 2013 (AFP) – Loans to businesses in the debt-mired eurozone tumbled in June, the European Central Bank said Thursday, weakening a key component of any economic recovery. Private sector loans dropped 1.6 percent last month in a year-on-year comparison, the ECB said, after a 1.1 percent decline in May. Loans to households […]
Sri Lanka stocks close down 0.7-pct
July 25, 2013 (LBO) – Sri Lanka’s stocks closed down 0.67 percent on Thursday with large cap stocks and banking sector making losses, brokers said. Distilleries Company closed at 190.10 rupees up 10 cents The benchmark Colombo All Share Index closed 40.98 points lower at 6,038.16 and the S&P SL 20 Index closed 24.63 points […]
Sri Lanka Treasuries short tenure bids rejected
July 24, 2013 (LBO) – Sri Lanka’s state debt office has rejected offers for three and 6 month bills at Wednesday’s auction accepting only tenders only for 12 month bills.Sri Lanka’s rupee has fallen around four rupees in recent weeks under pressure from excess rupee liquidity and a policy of the monetary authority not to […]