Category: Economy and Markets
Sri Lanka expects BOP surplus of US$380mn in 2012
Dec 05, 2012 (LBO) – Sri Lanka is expecting a ‘balance of payments’ surplus of 380 million US dollars in 2012 the latest Central Bank projection said, down from a 1.25 billion US dollar projection in May. For 2013 the Central Bank is projecting a BOP surplus of 780 million US dollars, according to a […]
‘s NDB, CRISIL develop bond indices
Dec 04, 2012 (LBO) – Sri Lanka’s NDB Investment Bank and CRISIL Limited, India has developed a family of gilt indices which will help investors to benchmark investments and come up with index based funds and derivatives, officials said. NDBIB-CRISIL 91 day, T-bill index, NDBIB-CRISIL 364 day T-bill Index, NDBIB-CRISIL 3-T-Bond Index and NDBIB-CRISIL 5-year […]
Sri Lanka stocks barely changed, rupee extends gains
Dec 04, 2012 (LBO) – Sri Lanka’s stocks closed marginally lower Tuesday and the rupee extended gains to close at 128.35/45 levels against the spot US dollar, brokers and dealers said. The Central Bank’s Treasury bill stock rose to 217 billion rupees on Monday, pointing either to state loan settlements outside the domestic monetary system […]
” prices plunge in secondary market
Dec 04, 2012 (LBO) – Prices of ‘permits’ issued to state workers to buy tax slashed cars have plunged in the secondary market, following the effective legalization of a re-sale process, sources familiar with the market said. The price of a tax slashed permit for an standard family sized car had fallen from about 1.5 […]
Sri Lanka stocks close 0.2-pct lower, rupee stronger
Dec 03, 2012 (LBO) – Sri Lanka stocks closed 0.2 percent lower Monday amid thin trading, with some large cap stocks losing ground, while the rupee gained against the dollar, brokers and dealers said. The rupee opened at around 129.80/130.00 against the US dollar in the spot market and closed around 129.30/40 levels, after trading […]
‘s import based taxes slow in second half
Dec 03, 2012 (LBO) – Import based taxes have slowed in the second half partly due to a sharp reduction in vehicles, though building material imports were still up, a top customs official said. Neville Goonewardene, who headed Sri Lanka’s customs department, told a forum of importers that the agency was given a target of […]
‘s inflation accelerates to 9.5-pct in November
Nov 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9.5 percent in November 2012 from a year earlier, accelerating from 8.9 percent a month earlier, data from the state statistics office showed. The Colombo Consumer Price Index rose 1. 3 percent to 167.1 points during the month, with the food component […]
‘s Seylan Bank to list up to Rs2.0bn in debt
Nov 30, 2012 (LBO) – Sri Lanka’s Seylan Bank will to sell up to 2. 0 billion rupees of public listed debentures maturing in five years, abandoning an earlier plan to privately place the securities. Seylan Bank said in a stock exchange filing that it will offer to sell one billion rupees of debentures and […]
”’: Fitch
Nov 29, 2012 (LBO) – Fitch Ratings has downgraded Sri Lanka’s HDFC Bank, a mortgage lender by one level to ‘BBB(lka)’ as its profits came under pressure from rising interest rates. “The downgrade reflects the bank’s inability to swiftly re-price its existing housing loan portfolio to avert deterioration in profits as market interest rates started […]
‘s Treasuries yields edge up at auction
Nov 28, 2012 (LBO) – Sri Lanka’s Treasuries yields edged up across maturities with the three month rate moving up 05 basis points to 10. 79 percent at Wednesday’s auction, data from the state debt office showed. The 6-month yield rose 02 basis points to 12. 09 percent and the 12-month yield rose 04 basis […]
”s Leasing rating unchanged: S&P
Nov 27, 2012 (LBO) – The conversion of Sri Lanka’s People’s Leasing and Finance into a licensed finance company would imposed a higher regulatory capital charge but its ‘B+’ stable rating would remain unchanged, Standard and Poor’s said. People’s Leasing and Finance is expected to become a licensed finance company (LFC) in mid 2013 and […]
‘s Leasing to sell Rs2bn worth CP
Nov 27, 2012 (LBO) – Sri Lanka’s Peoples Leasing and Finance will sell 2.0 billion rupees of commercial paper with a tenor of up to an year, which has been given an ‘F1+(lka)’ short term rating, Fitch Ratings said. People’s Leasing has a ‘B+’ international rating and ‘AA-(lka)’ domestic long term rating. The firm is […]