Category: Economy and Markets
Sri Lanka aiming for low inflation, 7.5-pct growth in 2013: CB Governor
Apr 09, 2013 (LBO) – Sri Lanka’s interest rates and inflation would fall in the coming months in a virtuous cycle, helped also by market pricing energy which will lower credit pressure, Central Bank Governor Nivard Cabraal said.Sri Lanka’s inflation rose 7.5 percent in the 12 months to March 2013 but eased from 9.2 percent […]
Bank of Ceylon, Sri Lanka sells US$500mn bond at 5.3-pct
Apr 09, 2013 (LBO) – State-run Bank of Ceylon, Sri Lanka’s largest lender, said it had sold a 500 million US dollar 5-year bond at 5.325 percent attracting two billion dollars in orders from 140 European and Asian based investors.The bond was rated ‘BB-‘ by Fitch. Bank of Ceylon said the sale was done with […]
Bank of Ceylon international bond sale begins
Apr 08, 2013 (LBO) – An international bond of sale of Sri Lanka’s state-run Bank of Ceylon has got underway with an initial price guidance issued to investors by lead managers, a media report said. Bloomberg newswires, citing an un-named source said an initial guidance of 5.5 percent had been set. The price guidance may […]
Sri Lanka rupee strong, bonds flat
Apr 08, 2013 (LBO) – Sri Lanka’s rupee strengthened to one year highs of as much as 125.20/30 in early trade Monday before weakening to 125.50/60 level amid seasonal conversions and weak demand, dealers said.A 5-year bond maturing on 01 April 2018 was quoted at 11.37/42 percent, dealers said. In April exporters covert dollars to […]
”BB-(EXP) by Fitch
Apr 08, 2013 (LBO) – A dollar denominated 5-year bond being issued by state-run Bank of Ceylon has been rated ‘BB-(EXP) by Fitch.“The notes will have a maturity of five years and coupon payments will be at a fixed rate on a semi-annual basis,” Fitch said. “The issue proceeds will be used for BOC’s refinancing […]
Sri Lanka stocks close up 0.2-pct
Apr 08, 2013 (LBO) – Sri Lanka’s stock closed up 0.2 percent with interest shown in banking stocks amid thin trade, brokers said. Aitken Spence closed flat at 119.50 rupees after spiking to 120.90 rupees. Colombo Land & Development which last week got tax breaks for a 600 million rupee expansion closed up 4.30 rupees […]
Sri Lanka Treasury bill yields frozen, bids rejected
Apr 03, 2013 (LBO) – Sri Lanka’s three and six months Treasury bill yields were frozen Wednesday with market bids rejected, data from the state debt office showed.The 3-month yield was kept at 9.26 percent, 6-month bids rejected and the 12-month yield was also flat at 11.35 percent. The debt office which is a unit […]
Sri Lanka foreign reserves at US$6.8bn in January 2013
Apr 03, 2013 (LBO) – Sri Lanka’s foreign reserves had edged marginally lower by 22 million US dollar in January 2013 to 6,855 million US dollars from a month earlier, official data showed.The Central Bank said reserves were equal to 4.4 months of imports. Sri Lanka’s imports fell 21.3 percent in January 2013 from a […]
Sri Lanka stocks close up 0.4-pct
Apr 03, 2013 (LBO) – Sri Lanka’s stock closed up 0.4 percent Wednesday helped by investor interest in banks brokers said. Aitken Spence Hotel Holdings PLC gained 3.60 rupees to close at 76.60 rupees. The benchmark Colombo All Share Index closed up 23.85 points at 5,728.47 up 0.42 percent and the S & P SL […]
”’ rating confirmed, outlook cut: RAM
Apr 02, 2013 (LBO) – RAM Ratings Lanka has confirmed a ‘BB+’ rating of Bartleet Religare Securities (Pvt) Ltd, a stock broking joint venture between Sri Lanka’s Bartleet group and India’s Religare Capital Markets Limited, but cut its outlook to stable. RAM said the outlook was raised to positive in 2010 following the Indian tie […]
Dialog Axiata Sukuk program gets Malaysia regulator nod
Apr 01, 2013 (LBO) – Sri Lanka’s Dialog Axiata has been given the nod to issue Shariah compliant Sukuk securities by Malaysia’s regulators, a filing in the Malaysian Stock Exchange on behalf of its parent said. Approval had been received from Sri Lanka’s central bank and SEC and also Malaysia’s central bank. Malaysia’s Securities Commission […]
Sri Lanka heath sector to be modernized with US$200mn from World Bank
Apr 02, 2013 (LBO) – A 200 million US dollar credit has been approved to develop Sri Lanka’s health sector to meet the challenges of emerging new diseases, the World Bank said. Injuries affect mainly the young male population and account for 15 percent of all registered deaths and for approximately 18 percent of all […]