Category: Economy and Markets
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 […]
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 […]
”’ 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 […]
Sri Lanka consumer durables firm in rural push
Mar 31, 2013 (LBO) – Sri Lanka’s Dinapala group, a consumer durables distributor says electrification of rural areas is increasing the demand and the firm is also strengthening a network in former war torn areas. “This year we are going to expand in to another 10 branches, likewise we are targeting to open 10 branches […]
”’ by RAM
Mar 30, 2013 (LBO) – A ‘BBB’ long term rating of Sri Lanka’s Union Bank has been confirmed by RAM Ratings Lanka Plc, with a stable outlook. A ‘P3’ short term rating was also confirmed. “The ratings are supported by the Bank’s healthy capitalisation but tempered by its small stature, below average asset quality, performance […]
Cutting energy subsidies will slash carbon emissions: IMF
Mar 30, 2013 (LBO) – Cutting energy subsidies will slash carbon emissions while releasing resources for education and health, and helping boost the balance of payments of many countries, the International Monetary Fund has said. An IMF study Energy Subsidy Reform: Lessons and Implications has estimated that direct energy subsidies totaled about 480 billion US […]
”’ rating confirmed: Fitch
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon had high exposure to the state enterprise with Ceylon Petroleum Corporation making up 20 percent, though some of the loans were guaranteed, Fitch Ratings said. Bank of Ceylon’s capitalization has weakened with dividend payouts by dividend payouts, and high loan growth. “While slowing loan […]
‘s Bank of Ceylon to sell up to US$500mn in bonds
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon would sell plans to sell between 300 to 500 million US dollars of bonds in the international market, a media report said. Bloomberg newswires said UBS has been hired to manage the sale. Fitch Rating has given a BB- expected rating to the securities […]
‘s inflation eases to 7.5-pct in March
Mar 28, 2013 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.5 percent in March 2013 from a year earlier, down from 9.8 percent in February, data from the state statistics office said. The non-food sub-index rose 3.5 percent from a year earlier. The index grew 0.3 percent in the month. The price […]
‘s Softlogic to sell Rs750mn in bonds
Mar 27, 2013 (LBO) – Sri Lanka’s Softlogic group is to sell up to 750 million rupees in three year fixed rate debentures, which will be used to re-finance short term debt, Fitch Ratings said. Fitch has given the debentures an ‘A-l(ka)(EXP)’ rating pending final documentations. Softlogic itself has been given an ‘A-(lka)’ rating. Fitch […]