Category: Economy and Markets
India starts kicks off second stage of housing project
Oct 03, 2012 (LBO) – India has started the second phase of building and repairing 43,000 houses in Sri Lanka’s war ravaged Northern and Eastern provinces under a 270 million US dollar grant aid project targeting 50,000 homes. Each beneficiary would be given 550,000 rupees (230,000 Indian rupees) for a new house in installments and […]
Sri Lanka Treasuries yield plunge at auction
Oct 03, 2012 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 12-month yield falling the most by 54 basis points to 12. 48 percent, data released by the state debt office showed. The state offered 10 billion rupees in maturing debt and accepted 13.0 billion rupees from the market. […]
Sri Lanka mid-year fiscal report not responsive to law: legislator
Oct 02, 2012 (LBO) – An interim report on state finances presented to parliament is not responsive to Sri Lanka’s fiscal management responsibility law and lacks key information, a legislator has said. Harsha de Silva, an opposition legislator who is an economist, has told parliament that in Sri Lanka’s mid-year fiscal report covering fiscal operations […]
‘s state debt expands amid currency fall, forex loans
Oct 02, 2012 (LBO) – Sri Lanka’s state debt has expanded by more than a trillion rupees to 6,161 billion rupees up to July 2012 from 5,133.3 billion rupees in December 2012, as the currency depreciated and foreign borrowings increased. Domestic borrowing had fallen to 53.02 percent from 59.6 percent over the same period. In […]
Sri Lanka stocks closed down 0.60 pct
October 02, 2012 (LBO) – Sri Lanka stocks closed down 0.60 percent Tuesday with some of the blue chip stocks losing ground. Index heavy John Keells Holdings PLC slipped 2.40 rupees to close at 225.10 rupees down 1.05 percent. Dialog Axiata dropped 0.10 cents to close at 9.00 rupees down 1.10 percent. The Colombo All […]
Sri Lanka rupee extends gains amid tight liquidity
Oct 01, 2012 (LBO) – Sri Lanka’s rupee strengthened to a near four month high Monday with money markets continuing to be tight with the rupee quoted as low as 128.90/129.00 to the US dollar in the spot market, dealers said. Market participants said cash deals were seen at 128. 80 to the US dollar. […]
Sri Lanka sees budget slippage in July: data
Oct 01, 2012 (LBO) – Sri Lanka has seen a sharp fiscal slippage in July 2012 after two months of improving state finances, as the state ratcheted up current expenditure ahead of the ability of citizens to pay up taxes, official data show. State revenues rose 12.6 percent to 556 billion rupees in the seven […]
‘s Sampath Bank to sell 16.5-pct bonds
Oct 01, 2012 (LBO) – Sri Lanka’s Sampath Bank is selling 16. 5 percent 5-year public listed bonds to boost its regulatory capital with a floating rate and monthly interest paying alternatives also available. The bond will be subordinated to deposits, meaning they will rank lower in repayments in case of liquidation. According to a […]
‘s war zone school kids
Sept 28, 2012 (LBO) – Japan will provide 120 million yen (180 million rupees) through the World Food program to provide meal at school to children in the former war zones in the north of Sri Lanka. “There is much concern about the nutritional needs of the resettled Internally Displaced Persons (IDPs) especially children in […]
Sri Lanka rupee strengthens
Sept 27, 2012 (LBO) – Sri Lanka’s rupee strengthened above 130 to the US dollar in the spot market Thursday with banks being short of cash for six straight days while longer term market interest rates continued to ease. A sterilized purchase of foreign exchange (where domestic money is withdrawn by the central bank) results […]
Sri Lanka 2012 GDP growth lowered to 6.8 pct: CB Governor
September 27, 2012 (LBO) – Sri Lanka’s economic growth forecast for 2012 has been lowered to 6. 8 percent from an earlier7.2 percent, Central Bank governor Ajith Nivard Cabral said He said expected growth in some sectors has been revised up and some down. Sri Lanka is facing an external slowdown which has slowed exports […]
Sri Lanka Treasuries yields plunge at auction
Sept 27, 2012 (LBO) – Sri Lanka’s Treasuries yields plunged across maturities with the 6-month yield falling as much as 34 basis points at Wednesday’s auction a week after longer term bonds fell in the secondary market. The 3-month yield fell 11 basis points to 11. 30 percent, the 6-month yield fell 34 basis points […]