Category: Economy and Markets
Sri Lanka stocks down 0.7-pct
July 04, 2013 (LBO) – Sri Lanka’s stocks closed down 0.73 percent on Thursday with losses in diversified companies and banking stocks, brokers said. Distilleries Company closed flat at 192.50 rupees and Ceylon Tobacco Company closed at 995.70 rupees down 3.80 rupees. Trading Thursday Sri Lanka stocks down 0.7-pct July 04, 2013 (LBO) – Sri […]
Sri Lanka income taxes collections up following lower rates
July 03, 2013 (LBO) – Sri Lanka’s income tax collection have risen sharply in the first few months of the year, despite a slowing economy after rates were brought down as part of tax reforms in 2011, according to a finance ministry report.The finance ministry said it reflected “a favourable consolidation of the impact of […]
Sri Lanka Treasuries yields flat
July 03, 2013 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with only the 3-month yield easing one basis point to 8.65 percent, data from the state debt office showed.The 6-month yield was flat at 9.70 percent and the 12-month yield was also flat at 10.66 percent. The debt office said 579 […]
‘s outlook downgrade
July 03, 2013 (LBO) – Sri Lanka’s central bank has disputed a cut in the outlook to stable from positive on the island’s ‘B1’ sovereign rating saying it is “backward looking” and not a proper reflection of the external position and recent improvements in the economy. Moody’s cut the outlook saying external bank borrowings had […]
Sri Lanka stocks down 0.4-pct
July 03, 2013 (LBO) – Sri Lanka’s stocks closed down 0.37 percent on Wednesday following gains of three straight days with losses in the diversified and consumer companies and some banking stocks, brokers said. The benchmark Colombo All Share Index closed 22.82 points higher at 6,117.97 and the S&P SL 20 Index closed 29.51 points […]
Sri Lanka interim budget data revealed according to law: opposition
July 03, 2013 (LBO) – Sri Lanka’s finance ministry has revealed budget data conforming to a fiscal responsibility law for the first time in years, opposition legislator Harsha de Silva has said. De Silva had also charged that changes to the fiscal responsibility law to allow the central government to increase the limit on guarantees […]
China top Sri Lanka top lender up to April 2013, Japan follows
July 03, 2013 (LBO) – China has given 165.28 million US dollars for projects financed in Sri Lanka in the first four month of 2013, though Japan has committed more new funding in the period, official data show. The World Bank has disbursed 95.7 million US dollars (0.84 million in grants) in the period, coming […]
Sri Lanka stocks close up 0.1-pct
July 02, 2013 (LBO) – Sri Lanka’s stocks closed up 0.13 percent on Tuesday making gains for the third straight day helped by diversified and consumer companies, brokers said. The benchmark Colombo All Share Index closed 08.04 points higher at 6,140.79 and the S&P SL 20 Index closed 14.77 points higher at 3,462.51 up 0.43 […]
Sri Lanka money market fund by Asset Trust
July 02, 2013 (LBO) – Sri Lanka’s Asset Trust Management (Pvt) Ltd, a fund management company said it has launched a money market mutual fund, which will invest in government and private fixed income securities.Among the people behind the firm is Wickrema Weerasooria, Mangala Boyagoda and Eastman Narangoda. Asset Trust Management is already managing a […]
‘s Hayleys debenture subscribed
July 02, 2013 (LBO) – A debenture offer by Sri Lanka’s Hayleys Plc, a diversified group has been oversubscribed with more than 2.0 billion rupees in applications, the registrars said.Hayleys offered 1.5 billion rupees of debentures and a further 500 million rupees if the first tranche was oversubscribed. The sale is managed by NDB Investment […]
Sri Lanka budget deficit 3.9-pct of GDP up to April 2013
July 02, 2013 (LBO) – Sri Lanka has posted a budget deficit of 3.9 percent of gross domestic product for the first four months of 2013, against a full year target of 5.8 percent of GDP, finance ministry data showed. State revenues for the first four months was 326.6 billion rupees, up from 313.9 billion […]
”’s
July 02, 2013 (LBO) – Moody’s Investors Service has cut the outlook on Sri Lanka’s ‘B1’ credit rating to ‘stable’ from ‘positive’ on rising bank foreign debt and continuing budget deficits and high state debt.Related to the debt level was slowing economic growth. After growing 8.1 percent in 2010 and 2011, economic growth had since […]