Category: Economy and Markets
‘s finance and economic ministry on trade
Jan 22, 2013 (LBO) – India will begin talks with Sri Lanka’s finance and economic ministry to develop “a framework for a special economic partnership” a joint statement released after a meeting between delegations headed by foreign ministers of the two countries said.“[T]he two sides decided to take several steps to further deepen trade, tourism […]
Sri Lanka Treasuries yields fall
Jan 22, 2013 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 6-month yield falling as much as 17 basis points to 10.41 percent, data from the state debt office showed.The 3-month yield fell 12-basis points to 9.63 percent and the 12-month yield fell 01 basis point to 11.25 percent. […]
Sri Lanka Commercial Credit to sell 20-pct debentures
Jan 21, 2013 (LBO) – Commercial Credit and Finance Plc, is selling 250 million rupees of 5-year debentures paying of 20 percent a year with an option to sell further 250 million rupees worth if there is strong demand, managers to the issue said.Merchant Bank of Sri Lanka, which is managing the sale said, interest […]
Sri Lanka bond auction yields flat
Jan 21, 2013 (LBO) – Sri Lanka’s 08 and 15-year bond yields were flat at Monday’s auction, unchanged from January 10, data from the state debt office showed, while three year bonds were sold at near secondary market rates, dealers said.Bond maturing on May 01, 2021 (8 years and 4 months) were sold to yield […]
Sri Lanka LOLC Rs1.25bn debentures rated [SL)A- by ICRA
Jan 18, 2013 (LBO) – ICRA Lanka, an associate of Moody’s Investors Service has given a [SL]A- rating with a stable outlook for a 1.25 billion rupee usecured debenture sale by Lanka Orix Leasing Company Plc. The rating took into account LOLC track record of profitable operations, its market position, experienced management team, adequate risk […]
Liquidity spikes in Sri Lanka money markets
Jan 18, 2013 (LBO) – Liquidity in Sri Lanka’s money markets has climbed to around 40 billion rupees amid dollar inflows bought by the monetary authority, but two terms auctions were announced Friday to mop up liquidity.Sri Lanka’s central bank creates money through dollar purchases to maintain a de facto peg to the US dollar […]
‘s central bank holds rates, warns against SOE credit
Jan 17, 2013 (LBO) – Sri Lanka’s policy rate at which liquidity is injected to the market will remain at 9.5 percent following a 25 basis point rate cut last month, the Central Bank said, but warned against rising credit to state enterprises. The Central Bank said the exchange rate has appreciated 5.3 percent against […]
Sri Lanka growth to pick up to 6.8-pct in 2013: World Bank
Jan 16, 2013 (LBO) – Sri Lanka’s economic growth will pick up to 6.8 percent in 2013 helped renewed external demand, better agriculture output, the World Bank said in a report on global economic prospects. Energy subsidies were also high in India. India’s rupee weakened over the past year amid central bank intervention. Large volumes […]
Sri Lanka Treasuries yields fall
Jan 16, 2013 (LBO) – Sri Lanka’s Treasuries yield fell across maturities at Wednesday’s auction with the 6-month yield falling as much as 23 basis points to 10.58 percent, data from the state debt office showed. The 3-months yield fell 13 basis points to 9.75 percent and the 12-month yield fell 09 basis points to […]
Sri Lanka stocks close up 01-pct
Jan 16, 2013 (LBO) – Sri Lanka’s stocks closed one percent Monday helped by gains in some large cap stocks amid falling gilt yields ahead of a Central Bank rate decision, brokers said. The Colombo All Share Price Index rose 62.3 points to 5,812.47. The S&P SL 20 Index rose 28.86 points to 3,163.18 points […]
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Jan 15, 2013 (LBO) – Sri Lanka’s DSI Holdings, which has market leadership in footwear helped by import protection has been downgraded one level to ‘BBB+(lka)’ with a negative outlook by Fitch. The rating agency said the company’s leverage had remained at levels more in line with ‘BBB+(lka)’ rated firms. The negative outlook indicated that […]
Sri Lanka stocks flat, rupee weaker
Jan 15, 2013 (LBO) – Sri Lanka stocks closed flat Tuesday and the rupee weakened on importer demand in late trading, brokers and dealers said. The Colombo All Share Index closed at 5,750.24 points 0.07 percent higher and the S&P SL20 Index closed at 3,134.32 up barely 0.01 percent. Turnover was 727 million rupees. Ceylon […]