Category: Economy and Markets
Sri Lanka Treasuries yield down after SRR cut
June 26, 2013 (LBO) – Sri Lanka’s Treasuries yields fell at Wednesday’s auction with the 12-month yield falling as much as 19 basis points to 10.66 percent, after a reserve ratio cut by the Central Bank. The debt office, which is a unit of the Central Bank said the 6-month yield fell 10 basis points […]
Sri Lanka stocks close down 0.2-pct
June 21, 2013 (LBO) – Sri Lanka’s stocks closed down 0.22 percent on Wednesday, due to index heavy stocks extending losses, brokers said. The benchmark Colombo All Share Index closed 13.54 points lower at 6,072.68 and the S&P SL 20 Index closed 07.60 points lower at 3,422.83 down 0.22 percent. Turnover was 2.2 million rupees […]
Sri Lanka to mop up liquidity surge to temper forex effects
June 26, 2013 (LBO) – Sri Lanka will mop up a surge of liquidity from a 200 basis point reserve ratio cut to temper any pressure on the exchange rate, Central Bank Governor Nivard Cabraal said.The speed at which liquidity hits the forex markets depends on the degree of openness of the economy and the […]
Sri Lanka stocks close down 1-pct
June 25, 2013 (LBO) – Sri Lanka’s stocks closed down 1.03 percent Tuesday with the heavy index stocks continuing to slide while an equities research house forecasted the stock market to gain from mid 2012. In the banking sector, Sampath Bank closed at 202.70 rupees up 20 cents and Commercial Bank of Ceylon lost 2.00 […]
Sri Lanka rupee recent weakness will not hurt inflation: CB Governor
June 25, 2013 (LBO) – A recent weakness in Sri Lanka’s rupee is unlikely to worsen inflation as the currencies of key trading partners, especially India have fallen further, Central Bank Governor Nivard Cabraal said.Analysts say rupee has tended depreciated in recent weeks partly because sometimes it stayed out of from forex markets, when the […]
Sri Lanka sells US$254mn in 3, 5-year bonds
June 24, 2013 (LBO) – Sri Lanka had sold 90 million US dollars of 3-year bonds at premium of 400 basis points above the London Interbank offered Rate and 164 million US dollars of 5-year bonds at 415 basis points above Libor, the state debt office said.In March 2013 Sri Lanka also sold 3-year bonds […]
Sri Lanka Telecom bills to be collected from home
June 24, 2013 (LBO) – Sri Lanka Telecom said it had added doorstep bill collection service to their existing network of 3,000 payment points, made up of bank branches and supermarkets, making it easier to settle bills. Under a deal inked with HDFC Bank, a mortgage lender, SLT will use its 300-strong mobile collections team […]
Sri Lanka bond yields move higher, rupee steady
June 24, 2013 (LBO) – Sri Lanka’s bond yields spiked further Monday as some foreign investors sought to shorten the maturity of their positions, dealers said but there were no significant outflows, officials said.The yield on a popular 5-year bond maturing on 2018 spiked to as much as 11.70 percent, from Friday’s 11.48 levels, before […]
Sri Lanka foreign reserves up in April
June 24, 2013 (LBO) – Sri Lanka’s foreign reserves rose 168 million US dollars to 6,858 million US dollars in April 2013 from 6,689.50 million US dollars in March, Central Bank data showed. The central bank said gross official reserves were equal to 4.4 months of imports. In April a state-run bank raised money abroad […]
Sri Lanka stocks close down 0.10-pct
June 24, 2013 (LBO) – Sri Lanka’s stocks closed down at 0.10 percent on Monday continuing its downward trend from the previous week with investors taking profit and losses in the heavy index stocks, brokers said. Distilleries Company crossed closed at 192.80 rupees down 1.50 rupees and The Lions Brewery closed at 392.30 rupees up […]
Sri Lanka should guard against weather shocks: World Bank
June 23, 2013 (LBO) – Sri Lanka should take steps to guard against shocks from weather related events with projections of rising sea levels and higher temperatures from climate change, the World Bank, a multilateral lender has said.Meanwhile the World Bank said it there had been bad weather in Sri Lanka’s coast and it will […]
Sri Lanka domestic gold prices edge up after tax
Jun 22, 2013 (LBO) – Gold prices in Sri Lanka’s domestic market have started to rise after the state slapped a 10 percent on imports, industry players said.On Friday a gold sovereign (about 8.1 grams) the most popular benchmark price was quoted around 47,500 rupees for 22 carats up about a 1,000 rupees from a […]