Category: Economy and Markets
Sri Lanka debt sales to expand 3-fold in five years
Aug 06, 2013 (LBO) – Sri Lanka domestic and foreign currency issues will expand three fold over the next five years, Fitch Ratings said in Colombo. “The excitement in the bond market is a step in the right direction for Sri Lanka to become a financial hub for South Asia,” Maninda Wickramasinghe, chief executive of […]
Sri Lanka Treasuries yields edge up
Aug 06, 2013 (LBO) – Sri Lanka’s 12-month Treasuries yield edged up 05 basis points to 10.57 percent at Wednesday’s auction, the state debt office said. There were no offers or sales of three and six month bills. The debt office offered 12.0 billion rupees in bills for rollover and sold 17.6 billion rupees in […]
Sri Lanka stocks close up 0.1-pct
Aug 06, 2013 (LBO) – Sri Lanka’s stocks closed up 0.12 percent Tuesday with gains seen in the large cap stocks, brokers said. The benchmark Colombo All Share Index closed 0.12 points higher at 6,121.45 and the S&P SL 20 Index closed 05.57 points higher at 3,477.04 up 0.16 percent. Turnover was 531 million rupees […]
Sri Lanka deficit to move down with lower rates, PPPs: CB Governor
Aug 06, 2013 (LBO) – Sri Lanka’s budget deficit will narrow and debt will slow with falling domestic interest rates and public private partnerships in infrastructure, Central Bank Governor Nivard Cabraal said. “We will see a huge reduction in interest costs,” Cabraal told a sovereign and banking forum organized by Fitch. In 2014 the budget […]
Sri Lanka stocks close down 0.7-pct
Aug 05, 2013 (LBO) – Sri Lanka’s stocks closed down 0.68 percent Monday with losses in the large cap stocks and banking stocks, brokers said. The benchmark Colombo All Share Index closed 0.68 points lower at 6,114.18 and the S&P SL 20 Index closed 19.10 points lower at 3,471.47 down 0.55 percent. Turnover was 288 […]
‘s faster growth bucking trend: Fitch
Aug 05, 2013 (LBO) – Sri Lanka’s economy is growing faster despite a slow global recovery, but the country needs more savings and foreign direct investments to reduce borrowings, senior rating analysts at Fitch said.Andrew Colquhoun, senior director and head of Asia Pacific sovereign ratings said a global recovery was still patchy, with the outlook […]
Sri Lanka calls auctions to mop up liquidity
Aug 02, 2013 (LBO) – Sri Lanka has called auctions to mop 20 billion rupees overnight and sell 9.5 billion rupees in Treasury bills outright after liquidity spiked due to a debt repayment from central bank credit a day earlier. To the extent that liquidity is left sloshing around in the banking system overnight, the […]
Sri Lanka stocks close flat
Aug 02, 2013 (LBO) – Sri Lanka’s stocks closed flat Friday with losses in the large cap stocks and banking stocks, brokers said. The benchmark Colombo All Share Index closed 0.78 points lower at 6,155.82 and the S&P SL 20 Index closed 13.00 points higher at 3,490.57 up 0.37 percent. Turnover was 399 million rupees. […]
Sri Lanka Softlogic appoints risk, retail chiefs
Aug 02, 2013 (LBO) – Sri Lanka ‘s Softlogic group said it had appointed two senior executives with domestic and international experience to head the group risk and audit function and its retail unit. After starting at KPMG Ford Rhodes Thornton & Company in 1981 he moved to Singer Industries (Ceylon) Ltd, and moved to […]
Sri Lanka stocks close up 2-pct
Aug 01, 2013 (LBO) – Sri Lanka’s stocks closed up 1.98 percent Thursday following a week of losses with heavy activity in a plantation stock, some gains in the large cap stocks and banking stocks, brokers said. In the banking sector, Hatton National Bank closed at 110.80 up 0.70 rupees, Pan Asia closed at 18.00 […]
”’ rating confirmed by S&P; warns on debt, institutions
Aug 01, 2013 (LBO) – Standard and Poor’s has confirmed Sri Lanka’s ‘B+’ sovereign rating with a stable outlook but warned on government debt and weak institutions. Sri Lanka’s external liquidity remains exposed to international liquidity conditions. Through 2015, we project that Sri Lanka’s gross external financing needs will exceed 120% of current account receipts […]
Sri Lanka 12-month Treasuries yield falls
July 31, 2013 (LBO) – Sri Lanka’s 12-month Treasuries yield fell 04 basis points to 10.52 percent at Wednesday’s auction, data from the state debt office said. In the secondary market 3-month bills were quoted at 8.65/85 percent levels and 6-month bills were quoted around 9.65/75 percent levels, dealers said. The 12-month bill was quoted […]