Category: Economy and Markets
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 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 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 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 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 […]
Sri Lanka stock close up 0.6 pct
Dec 06, 2012 (LBO) – Sri Lanka’s stocks closed 1.2 percent higher Thursday with foreign investors dominating trading, while the rupee closed higher after weakening in intra-day trade, brokers and dealers said. NDB Bank which exited a stake in Aviva insurance at a profit was actively traded with one million shares changing hands. The stock […]
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 […]
Sri Lanka rejects bids for 3-month at auction
Dec 06, 2012 (LBO) – Sri Lanka has rejected all bids for 3-month Treasury bills at an auction on Wednesday while 6 and 12 month bill yields rose by one basis point, data released by the state debt office showed. The Central Bank also owns 217 billion rupee portfolio of stocks and rolling them over […]
” 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 […]
‘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 […]
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 […]