Economy and Markets – Page 583 – Lanka Business Online

Sri Lanka GDP grew 6.4-pct in 2012: census dept

Mar 15, 2013 (LBO) – Sri Lanka’s gross domestic product grew 6.4 percent in 2012, slowing from 8.2 percent in 2011, with industry growing 10.3 percent, agriculture 5.8 percent and services 4.6 percent, the state statistics office said.In the December quarter the economy was estimated to have grown 6.3 percent from a year earlier, against […]

Sri Lanka Treasuries yields up

Mar 13, 2013 (LBO) – Sri Lanka’s Treasuries yields edged up across maturities at Wednesday’s auction with the three month yield rising 05 basis points to 9.16 percent, data from the state debt office said.The 6-month yield rose 05 basis points to 10.15 percent and the 12-month yield rose 05 basis points to 11.19 percent. […]

‘s

Mar 13, 2013 (LBO) – Sri Lanka is facing higher external pressure due to lack on a program with the International Monetary Fund and also slower growth, Moody’s Investors Service, a rating agency said.“Although the government will likely continue to make gradual progress in reducing its deficit, the debt burden will remain high,” Moody’s said. […]

” rating confirmed: RAM

Mar 13, 2013 (LBO) – RAM Ratings Lanka said it had confirmed an ‘A-‘ rating on Lankem Ceylon Plc, with a ‘stable’ outlook.Its short-term ‘P2’ rating was also confirmed. “The ratings are supported by its diversity in business operations, dominant market positions in most of its business lines, the resilient demand for agrochemicals, and above […]

Sri Lanka cuts coining cost with Finish, Dutch and Slovak mints

Mar 12, 2013 (LBO) – Sri Lanka has cut coin issue costs from 2013 by allowing more international coin producers to bid for minting contracts, Central Bank Governor Nivard Cabraal said.“We widened the criteria for bidding, and we have made substantial savings,” Governor Cabraal said. “We got very good prices.” From 2013 to 2015, Mint […]

” label

Mar 12, 2013 (LBO) – Sri Lanka’s influential Ceylon Chamber of Commerce announced that the cost of halal certification was so “insignificant” that it was not even considered when calculating the cost of production of food sold locally. CCC chief Susantha Ratnayake, who is also the chairman of John Keells Holdings, said the widely used […]

Sri Lanka rupee strengthens above 126 to the US dollar

Mar 12, 2013 (LBO) – Sri Lanka rupee was quoted stronger at 125.95/126.00 to the US dollar in late afternoon trade Tuesday in the spot market, up from a closing price of 126.45/55 a day earlier, dealers said.Dealers say some banks were looking to sell dollars in the spot market.Market sources say unwinding of some […]

Sri Lanka Merchant Bank to sell Rs.2.0bn in debentures

Mar 11, 2013 (LBO) – Merchant Bank of Sri Lanka, a unit of state-run Bank of Ceylon is offering for sale up to 2.0 billion rupees of 4 and 5-year listed debentures paying between 16.5 to 17.5 percent a year. The Colombo Stock Exchange said it had approved the issue where the MBSL will offer […]

”’: Fitch

Mar 08, 2013 (LBO) – An upcoming debenture of Sri Lanka’s People’s Leasing and Finance has been rated ‘AA-(lka)(EXP)’ by Fitch. The proposed has been rated at the same level as PLC’s national long term rating as it will rank equal to senior unsecured creditors, Fitch said. The full statement is reproduced below: Fitch Rates […]

Sri Lanka Treasuries slightly up

Mar 06, 2013 (LBO) – Sri Lanka’s Treasuries yields edged up slightly across maturities and Wednesday’s auction with the twelve month yield rising 04 basis points to 11.14 percent, data from the state debt office showed. The 3-month yield rose 02 basis points to 9.11 percent and the 6-month yield rose 02 basis points to […]

Sri Lanka war refugees helped by Japan

Mar 06, 2013 (LBO) – More than 98,000 war refugees who have returned to former war zones in northern Sri Lanka will be helped though a 4 million US dollar program funded by Japan.The Japanese embassy in Colombo said the project implemented through the UN Human Settlements Program (UN-Habitat) will benefit 98,120 villagers in Mullaitivu […]

Sri Lanka NSB hires HSBC, Citi, Barclays to lead manage bond

Mar 06, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has hired HSBC, Citibank and Barclays to lead manage an international bond sale of up to a billion US dollars, sources familiar with the deal said.In 2012 Sri Lanka sold a billion dollar sovereign bond and state-run Bank of Ceylon raised another 500 million […]