Category: Economy and Markets
Sri Lanka inflation up 6.8-pct in June 2013
June 28, 2013 (LBO) – Sri Lanka consumer prices rose 6.8 percent in the 12-months to June 2013, slowing from 7.3 percent in May, but prices rose 1.3 percent during the month, data from the state statistics office showed. The annual rate fall came from a so-called statistical base effect as last June’s inflation also […]
‘s plans 10-year Rs3.0 deep discount debenture
June 28, 2013 (LBO) – Fitch Ratings has given an ‘AA-(lka)’ expected rating to a 3.0 billion rupee deep discount debenture to be sold by Sri Lanka’s Hatton National Bank. HNB expects to list the debentures subject to regulatory approvals.The final rating is contingent upon the receipt of final documentation conforming to information already received. […]
Sri Lanka stocks close up 0.1-pct, trading hit by technical glitch
June 28, 2013 (LBO) – Sri Lanka’s stocks closed up 0.16 percent on Friday, with diversified and consumer companies showing gains, brokers said in shortened trading day hit by technical glitches at the exchange. The benchmark Colombo All Share Index closed 09.65 points higher at 6,121.01 and the S&P SL 20 Index closed 05.26 points […]
Sri Lanka rupee reaches 130 to the dollar
June 27, 2013 (LBO) – Sri Lanka’s rupee was quoted as weak as 130.75/90 to the US dollar in the spot market Thursday, dealers said.In December the rupee traded at 130.55 levels, according to Bloomberg data. One week forwards were traded around 130.40/45 dealers said. The rupee steadily weakened amid excess liquidity in money markets […]
Sri Lanka rupee fall unnecessary, no cause for concern: CB Governor
June 27, 2013 (LBO) – A sharp weakening of the rupee against the US dollar was unnecessary and there was no cause for concern Central Bank Governor Nivard Cabraal said as the rupee fell to one year lows.“There is no need for concern,” Cabraal said.“Those who buy at high prices will get hurt.” The Sri […]
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 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 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 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 […]