Category: Economy and Markets
Sri Lanka and Mongolia forex debt ratios high: Fitch Report
Dec 17, 2012 (LBO) – Foreign currency denominated debt is expected to fall as a ratio of current receipts in except for Sri Lanka and Mongolia, where it will remain high, Fitch Ratings said in a report which tracked 12 emerging Asian nations. If the central bank then sterilizes the forex interventions with fresh money […]
‘s growth is strong but inflation and debt has to fall: IMF Rep
Dec 14,2012 (LBO) – Sri Lanka’s recent growth has been strong and ahead some of the fastest growing economies in Eastern Europe, Latin America and Asia, but inflation and national debt has to fall, IMF’s resident representative Koshy Mathai said. Economic growth in the last two year has averaged around 8. 0 percent which was […]
Sri Lanka war refugees to get EU help for 4,000 houses
Dec 14, 2012 (LBO) – Sri Lanka’s war refugees will get 1. 9 billion rupees of financial help from the European Union to rebuild 4,000 houses with additional funding from Switzerland and Australia. House will be build on an ‘owner-driven’ model. UN-Habitat and SDC will give money and technical help and owners will contribute their […]
Sri Lanka stocks close down 0.2-pct
Dec 14, 2012 (LBO) – Sri Lanka’s stocks closed down 0.2 percent Friday taking a breather after two days of strong gains following a rate cut earlier in the week, brokers said. The benchmark Colombo All Share Index closed at 5,522.7 points down 24.6 points and the S&P SL20 Index closed up 1.5 points at […]
Sri Lanka firms to benefit from widening diversity
Dec 12, 2012 (LBO) – Sri Lankan firms can benefit from being more inclusive, and while comprehensive diversity policies were still rare, many were making a start by promoting equal opportunity and combating sexual harassment, top executives said. Kasturi Chellaraja Wilson, managing director, Transportation Sector, Hemas Holdings recalled an instance where a new person who […]
Sri Lanka will not sell sovereign bond this year: CB Governor
Dec 12, 2012 (LBO) – Sri Lanka has decided not to sell a sovereign bond in 2013, Central Bank Governor Nivard Cabraal said, urging commercial banks to tap the international capital market more. “Government will not be taking direct loans from abroad,” Cabraal told bank directors at a forum in Colombo. “Commercial borrowing from the […]
Sri Lanka cuts interest rates to boost credit
Dec 12, 2012 (LBO) – Sri Lanka has cut its main policy rate at which money injected to banks by 25 basis points to 9. 50 percent to boost loans and the Central Bank said a credit ceiling would expire by the end of this month. “The Central Bank has been carefully monitoring the developments […]
Sri Lanka Treasuries yields down after rate cut
Dec 12, 2012 (LBO) – Sri Lanka’s Treasuries yields tumbled across maturities at Wednesday’s auction with the 12-month yield falling as much as 41 basis points, data from the state debt office showed. The debt office said it sold a billion rupees of 3-month bills, 3. 9 billion rupees of 6-month bills and 8.5 billion […]
Sri Lanka stocks close up 1.8-pct
Dec 12, 2012 (LBO) – Sri Lanka stocks closed up 1.8 percent Wednesday after the Central Bank cut rates by 25 basis points, driven mostly by domestic buying, brokers said. Asian Alliance Insurance said it had been investing 177 million rupees in commercial paper of Softlogic Capital Ltd, a related party and earned interest of […]
Sri Lanka stock close up 0.2-pct
Dec 11, 2012 (LBO) – Sri Lanka’s stocks closed up 0.2 percent Tuesday, helped by gains in Nestle and CTC while forex markets saw import demand later in the day, brokers and dealers said. NDB Capital Holdings closed at 460.00 down 39.80 rupees, Hunters fell 44.90 to close at 294.50, Kelani Valley Plantations fell 7.80 […]
Sri Lanka credit ceilings served their purpose: Deputy Governor
Dec 11, 2012 (LBO) – Credit ceilings imposed on Sri Lanka’s commercial banks had served their purpose and were part of temporary measures to stabilize the economy, deputy Central Bank Governor Nandalal Weerasinghe said. In February 2012 Sri Lanka raised interest rates, imposed an 18 percent cap on commercial bank credit growth and partially floated […]
Sri Lanka forex reserves drop in October
Dec 07, 2012 (LBO) – Sri Lanka’s official foreign reserves dropped 7. 1 percent to 6,547 million US dollars in October 2012 from a month earlier following the repayment of a sovereign bond, official data showed. The Central Bank said tourism receipts were 790. 2 million US dollars in the first 10 months, worker remittances […]