Category: Economy and Markets
Sri Lanka to add Yuan bonds to forex reserve assets
Jan 02, 2013 (LBO) – Sri Lanka will diversify its foreign reserve assets to reflect government debt and Yuan denominated bonds are a candidate, Central Bank Governor Nivard Cabraal said. Sri Lanka has borrowings mainly in US dollars, Japanese Yen, Special Drawing Rights and Euro but China has become a large lender over the past […]
Sri Lanka relaxes forward forex curbs, bank open positions
Jan 02, 2013 (LBO) – Sri Lanka has relaxed curbs on foreign exchange forward deals introduced last year and widened the net open positions for banks with effect from today, Central Bank Governor Nivard Cabraal said.Cabraal said Sri Lanka was estimated to have posted a 100 million dollar surplus in the balance of payments in […]
Sri Lanka economy in fast adjustment for renewed growth: CB Governor
Jan 01, 2013 (LBO) – Sri Lanka’s economy has responded quickly to corrective measures and is looking for stronger growth this year with the budget gap for 2012 on track and the exchange rate strengthening again, Central Bank Governor Nivard Cabraal said. “This is the fastest adjustment period in our history,” Central Bank governor Nivard […]
”’ rating confirmed: RAM
Jan 01, 2012 (LBO) – RAM Ratings said it had confirmed an ‘AA-‘ rating of Sri Lanka’s Hayleys group, a diversified group with interests in export manufacturing, agriculture and power, with a stable outlook. “The ratings are upheld by the Group’s diversified business portfolio, strong market positions in several key businesses coupled with the Group’s […]
‘s central bank slashes Treasuries holding with profit transfer: Governor
Dec 31, 2012 (LBO) – Sri Lanka’s central bank has cut its Treasury bill holding with a year-end transfer of profits Governor Nivard Cabraal said, in a move that will help avoid any negative effect on inflation, the exchange rate and foreign reserves. “We knocked off Treasury bills with it (profit transfer),” Cabraal said. A […]
Sri Lanka inflation rises 9.2-pct in 2012
Dec 31, 2012 (LBO) – Sri Lanka’s inflation rose 9. 2 percent to in the 12-months to December 2012 from a year earlier, with the Colombo Consumer Price Index rising 0. 9 percent during the month, the state statistics office said. The statistics office said the food sub group in the index from which heavily […]
Sri Lanka foreign reserves at US$6.54bn in Nov
Dec 29, 2012 (LBO) – Sri Lanka’s official reserves fell 56. 9 million US dollars to 6,490 million US dollars in November 2012 from a month earlier, but is still up 968 million US dollars from a February low of 5.52 billion US dollars. Sri Lanka floated the currency in February 2012 ending contradictory monetary […]
Sri Lanka prosperity index shows gains: Central Bank
Dec 25, 2012 (LBO) – Sri Lanka’s prosperity has increased 4. 1 percent in 2011 improving on two earlier years, according to an index which tracks well-being, economic infrastructure and the business climate, the Central Bank said. The Sri Lanka Prosperity Index has risen 4. 1 percent to 60.6 point in 2011 showing a steady […]
Sri Lanka Treasuries yields fall further
Dec 24, 2012 (LBO) – Sri Lanka Treasuries yields fell further at Monday’s auction held two days earlier due to Christmas holidays, with the 12-month yield falling as much as 49 basis points to 11. 69 percent. Since November 30, 3-month yields have fallen 79 basis points, the 6-month yield has fallen 77 basis points […]
Sri Lanka Abans commercial paper rated F2(lka): Fitch
Dec 22, 2012 (LBO) – Commercial paper of 250 million rupees to be issued by Sri Lanka’s Abans (Pvt) Ltd, a consumer durables maker has been rated ‘F2(lka)’ with a stable outlook by Fitch. The money will be used to fund working capital of the company. The full statement is reproduced below: Fitch Rates Abans’s […]
Sri Lanka rupee extends gains in early trade
Dec 21, 2012 (LBO) – Sri Lanka’s rupee rose sharply against the US dollar in early trade Friday to 125. 60/125.80 up from Thursday’s closing of 127. 60/70 rupees amid thin year end trading dealers said. After that the rupee fell rapidly to much as 134 to the US dollar as the Central Bank sterilized […]
Sri Lanka Commercial Credit to sell Rs500mn in bonds
Dec 21, 2012 (LBO) – Sri Lanka’s Commercial Credit and Finance Plc will sell debentures to raise 500 million rupees, which will be listed in the Colombo Stock Exchange. The CSE said the firm has been given the nod to sell 2.5 million unsecured, subordinated debentures and upsize the issue by another 2.5 million if […]