Category: Economy and Markets
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 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 […]
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 to continue relaxing exchange controls: CB governor
March 03, 2013 (LBO) – Sri Lanka will continue to liberalise foreign exchange controls to encourage the investments needed to maintain high economic growth, Central bank governor Nivard Cabraal said. “The thinking now is to try to have faster growth for which we need more savings and investment which, if not available in our own […]
”’ rating confirmed by S & P, amid warnings
Mar 01, 2013 (LBO) – Standard and Poor’s Ratings Services has confirmed a ‘B+’ sovereign rating for Sri Lanka with a ‘stable’ outlook but warned of a bloated state sector and institutions that lack transparency and independence. “We affirmed the ratings to reflect our view of Sri Lanka’s weak external liquidity, a moderately high and […]
Sri Lanka to double pay to graduate recruits: report
Feb 28, 2013 (LBO) – Sri Lanka will soon double the pay of around 50,000 unemployable graduates absorbed into state service to 23,000 rupees a month, a media report said.Sri Lanka’s ‘Yes FM’ a radio station, station broadcast economic development minister Basil Rajapaksa as saying in a speech that monthly allowances for the graduate trainees […]
‘s inflation 9.8-pct in February 2013
Feb 28, 2013 (LBO) – Sri Lanka’s consumer prices rose 9.8 percent in February 2013 from a year earlier, with the index rising 0.4 percent during the month, the state statistics office said. Inflation was also 9.8 percent in January. The state statistics office said food and non-alcoholic beverages rose 0.6 percent and non-food items […]
” rating confirmed: RAM Ratings
Feb 28, 2013 (LBO) – RAM Ratings Lanka said an ‘A+’ long term and ‘P1’ short term rating of Lanka Hospital Corporation Plc, has been confirmed with a stable outlook. The firm is 54 percent owned by the state through its control by state-run Sri Lanka Insurance Corporation Plc. RAM said state support was expected. […]
Sri Lanka Treasuries yields flat
Feb 27, 2013 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 3-months with 18.7 billion rupees in bids being accepted from the market after 15.0 billion rupees of maturing bills being offered, the state debt office said.The 3-month yield eased 01 basis point to 9.09 percent, the 6-month yield was […]
Sri Lanka should watch debt, contingent, liabilities: IMF
Feb 26, 2013 (LBO) – Sri Lanka should be careful about mounting external liabilities and reserve adequacy, with national debt already on the “high side” at over 80 percent of gross domestic product, the International Monetary Fund has said.Sri Lanka’s official debt to GDP ratio is expected to climb slightly to 81 percent in 2012 […]