Category: Economy and Markets
Sri Lanka Treasuries yields drop
Jan 09, 2012 (LBO) – Sri Lanka’s Treasuries yields dropped across maturities with the 6-month yield falling as much as 18 basis points to 10.81 percent at Wednesday’s auction, data from the state debt office showed.The 3-month yield dropped 03 basis points to 0.88 percent and the 12-month yield dropped 03 basis points to 11.35 […]
Sri Lanka rupee strengthens in early trade
Jan 09, 2013 (LBO) – Sri Lanka’s rupee gained about against the US dollar in mid morning trade Wednesday to 126.25/55 levels in the spot market on expectations of foreign purchases of rupee bonds, dealers said. Sri Lanka’s rupee has strengthened from lows of 134 to the US dollar in mid 2012 following a float […]
Sri Lanka gilt yields up in secondary trading
Jan 08, 2013 (LBO) – Sri Lanka government bond yields has picked up after falling steeply over two days ahead of a large bond auction, dealers said.A bond maturing on 15 July 2017 opened around 10.70/80 percent Monday and closed at around 11.00/11.10 percent, dealer said. A bond maturing on 15 August 2018 also opened […]
Sri Lanka Ceylease on upgrade track: Fitch
Jan 07, 2013 (LBO) – Sri Lanka’s Ceylease Ltd rated ‘BB+(lka)’ has been put on positive rating watch pending a merger with MCSL Financial Services Limited, which is rated a notch higher at ‘BBB(lka)’. “Fitch will upgrade CL’s rating to align with MFSL’s rating upon the conclusion of the merger,” the rating agency said in […]
Sri Lanka foreign holder ceiling on gilts to stay: CB Governor
Jan 07, 2013 (LBO) – Sri Lanka is keeping a ceiling on foreign holdings of Treasuries at 12.5 percent of outstanding for 2013, Central Bank Governor Nivard Cabraal said.Rupee bonds sold in the secondary market are cleared through the domestic monetary base, putting pressure on the domestic credit and through that on the exchange rate […]
Sri Lanka wants exports before steep currency appreciation: Treasury Secretary
Jan 07, 2013 (LBO) – Sri Lanka would like to see stronger exports, and less imports before an “un-necessarily” appreciation of the exchange rate, Treasury Secretary P B Jayasundera said.Sri Lanka’s rupee has depreciated ever since a money printing central bank capable to sterilizing foreign exchange sales and monetizing debt generally was built in 1951 […]
Sri Lanka entering 2013 with better prospects: Treasury Secretary
Jan 05, 2013 (LBO) – Sri Lanka is entering 2013 with an improving external environment, a stable exchange rate and favourable weather for agriculture, compared to last year, Treasury Secretary P B Jayasundera said.“Though there have been severe floods, the damage has been minimal as far as production activities are concerned,” Jayasundera told reporters. “All […]
Sri Lanka to get US$290mn soft loan from Korea
Jan 05, 2013 (LBO) – Sri Lanka will get up to 290 million US dollars from Korea for renewable energy and infrastructure under a framework agreement signed last week, the Korean embassy in Colombo said.The Government of Korea had recently given 70 million US dollars to the Sri Lankan Government as grants from KOICA assistance […]
Sri Lanka to charge retrospective taxes on converted vehicles
Jan 04, 2012 (LBO) – Sri Lanka is set to charge millions of rupees of taxes on a retrospective basis from owners of pick-up trucks and jeeps who have converted them under existing rules, according to a new cabinet decision.In free countries with strong constitutional guarantees of liberty to citizens, so called ex post facto […]
Sri Lanka personal income tax now very low: Treasury Secretary
Jan 04, 2012 (LBO) – Sri Lanka’s personal income tax rates are now very low and eligible persons should start paying taxes voluntarily, Treasury Secretary P B Jayasundera said. He said with Sri Lanka is becoming a service economy made up of self-employed and professionals working in legal, healthcare, education or information technology and income […]
Sri Lanka seeks budget support loan from IMF: Treasury Secretary
Jan 04, 2013, (LBO) – Sri Lanka is planning to discuss a loan of up to a billion US dollars if the International Monetary Fund is willing to provide budget support, Treasury Secretary P B Jayasundera said.“We are asking IMF to extend budget support,” Jayasundera told reporters in Colombo. “That money cannot go the central […]
Sri Lanka to issue coin series to depict districts
Jan 03, 2013 (LBO) – Sri Lanka will issue coins with a face of 10 rupees to depict each district in the country in 2013, the Central Bank has said in a road map for monetary policy. Sri Lanka has 25 administrative districts. Central Bank Governor Nivard Cabraal also said Wednesday a program will be […]