Category: Economy and Markets
Sri Lanka top court rules parts of budget bill unconstitutional
Nov 07, 2012 (LBO) – Sri Lanka’s Supreme Court has ruled that sections of an appropriation bill for 2013 which lays the basic outline for a budget for next year is unconstitutional. The ruling was read out as the administration launched an impeachment process against Sri Lanka’s chief justice. The Supreme Court also ruled against […]
Sri Lanka Treasuries yields up, rupee weaker
Nov 08, 2012 (LBO) – Sri Lanka’s Treasuries rose on longer maturities at Wednesday’s auction with the 12 month yield rising 09 basis points to 12.65 percent from a week earlier, data from the state debt office showed, while the rupee weakened. The 6-month yield rose 05 basis points to 12.02 percent. The 3-month yield […]
Sri Lanka stocks close 0.26 pct higher
November 07, 2012 (LBO) – Sri Lanka stocks closed 0.26 percent higher Wednesday on gains made in banking counters, brokers said. AVIVA NDB Insurance PLC slipped 4.50 rupees to close at 365.50 rupees down 1.22 percent. Colombo Dockyard PLC gained 1.40 rupees to close at 217.50 rupees up 0.65 percent. Dialog Axiata PLC closed flat […]
Sri Lanka honours war-time investors
Nov 07, 2012 (LBO) – Sri Lanka is to recognize foreign companies which invested in the island during the height of two rebellions by leftwing youth and Tamil Tiger separatists that almost wrecked the economy. The ‘Global Commerce Excellence Awards 2012’ will recognize 150 international companies for their contribution to the national economy during the […]
‘ group raises budget issues, calls for better debate
Nov 06, 2012 (LBO) – Friday Forum, a Sri Lankan citizens group has asked for informed debate on the budget by parliamentarians instead of a slanging match, and has asked the administration to prioritize expenses and pay attention to a growing debt burden. The full statement is reproduced below: A PLEA FOR A BIPARTISAN BUDGET […]
Sri Lanka Bank of Ceylon to sell 16-pct 5-year bonds
Nov 06, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon is offering 5-year bonds with a fixed rate of up to 16.0 percent a year and a floating rate based on a premium to the six month Treasury bill yield, an offer document said. The securities have been rated AA(lka) by Fitch, a notch […]
Sri Lanka stocks close 0.31 pct higher
November 06, 2012 (LBO) – Sri Lanka stocks closed 0.31 percent higher Tuesday on the back of gains by John Keells Holdings. The Colombo All Share Index closed 17.28 points higher at 5,556.59 up 0.31 percent and the S & P SL 20 Index closed 7.23 points higher at 3012.98 up 0.24 percent. The day’s […]
Sri Lanka stocks close 0.13 pct higher
November 05, 2012 (LBO) – Sri Lanka stocks closed up 0.13 percent Monday posting a low turnover. AVIVA NDB Insurance PLC gained 5.00 rupees to close at 370.00 rupees up 1.37 percent. Colombo Dockyard PLC gained 0.10 cents to close at 217.70 rupees up 0.05 percent. Dialog Axiata PLC gained 0.20 cents to close at […]
Sri Lanka DFCC Bank net up 54-pct in Sept
Nov 05, 2012 (LBO) – Sri Lanka’s DFCC Bank said group profits rose 55 percent to 819 million rupees in the September 2012 quarter from a year earlier, and its commercial banking unit hit regulatory ceiling on credit growth. DFCC group performing loans grew 7.5 percent to 90.9 billion rupees from March, but chief executive […]
Sri Lanka stocks close 0.69 pct higher
November 02, 2012 (LBO) – Sri Lanka stocks closed up 0.69 percent Friday with several blue chips and banks gaining ground. The Colombo All Share Index closed at 5,532.32 up 37.78 points and the S & P SL 20 Index closed 23.80 points higher at 2997.95 up 0.80 percent. Turnover was a relative high at […]
Sri Lanka stocks close -0.3 pct lower
Nov 01, 2012 (LBO) – Sri Lanka’s stocks fell 0.35 percent Thursday dragged down by financial sector stocks despite gains by index heavy Dialog Axiata, brokers said while the ruling coalition moved to impeach the country’s chief justice. Hatton National Bank fell 7.20 to close at 140.80 rupees, Commercial Bank closed at 102.90 down 2.0 […]
‘s Leasing plans billion rupee CP sale
Nov 01, 2012 (LBO) – Sri Lanka’s People’s Leasing Company, the country’s largest leasing firm is planning a billion rupees commercial paper sale, which has been given a short term ‘F1+(lka) rating, Fitch Ratings said. People’s Leasing has a long term rating of ‘AA-(lka)’ from Fitch. The leasing firm is a unit of state-run People’s […]