Category: Economy and Markets
Sri Lanka stocks up 0.31 pct
August 02, 2012 (LBO) – Sri Lankan stocks closed flat Thursday after about an hour of spike triggered by investor confidence that credit rules would be reconsidered by treasury secretary P.B Jayasundara. The Colombo Stock Brokers Association has met treasury secretary P.B. Jayasundara and discussed ways to revive the bourse and better manage risks, and […]
Sri Lanka 6-month treasuries up
July 31, 2012 (LBO) – Sri Lanka’s treasury yields edged-up for six-months notes by two basis points at Tuesday’s auction, while three-month and one-year yields remained flat, central bank figures showed. Three-month notes were steady at 11.35 percent, the 6-month yields rose two-basis points to 12.87 percent and the 12-month yield was flat at 13.15 […]
‘s inflation accelerates to 9.8-pct in July
July 31, 2012 (LBO) – Sri Lanka’s consumer prices accelerated to a 15-month high of 9.8 percent in July from a year earlier, as prevailing dry weather hurt food crops, official statistics data showed. Inflation as measured by the Colombo Consumer Price Index rose 0.9 percent during the month of July to 166.7 points, the […]
Sri Lanka stocks up 0.19%; Odel dominates trading
July 31, 2012 (LBO) – Sri Lankan stocks was flat on Tuesday, with a turnover of over a billion rupees driven by strategic deals in conglomerate John Keells Holdings PLC and clothing retailer Odel PLC, brokers said. The broader All Share Price Index closed up 9.35 points to 4,944.86, while the liquid Milanka Price Index […]
Sri Lanka central bank calls bids to sell bills outright
July 30, 2012 (LBO) – Sri Lanka’s Central Bank has called bids to sell up to 15.5 billion rupees of Treasuries in its holdings to the public to drain liquidity that came from the proceeds of a sovereign bond sale. On Monday an auction was called to sell 7.5 billion rupees of 3 week bills […]
‘s central bank sells down Rs1.2bn from its bill stock
July 30, 2012 (LBO) – Sri Lanka’s Central Bank has sold outright 1.2 billion rupees from its 220 billion rupee Treasury bill stock to kill some of the liquidity that came from the purchase of dollars from a sovereign bond. The Central Bank said it had got bids for 850 million rupees for an offer […]
Sri Lanka energy SOE losses projected at 1.0-pct of GDP
July 28, 2012 (LBO) – Sri Lanka’s state energy enterprises will make losses of about one percent of gross domestic product, a lower than 1.75 percent GDP loss made in 2011, an International Monetary Fund report has said. Though the IMF program had a requirement to make energy enterprises break-even it was not a performance […]
Sri Lanka stocks up 1.17 pct
July 27, 2012 (LBO) – Sri Lanka’s stocks closed 1.17 percent Friday, Aviva NDB Insurance gaining on take-over speculation, while the rupee weakened in intra-day trading brokers and dealers said. The spot US dollar topped 132.0 rupees after the proceeds of a billion US dollar bond by passed the market and rupee liquidity was created […]
Sri Lanka rupee weakens, liquidity high
July 27, 2012 (LBO) – Sri Lanka’s rupee weakened to 132. 20/30 levels Friday after opening around 131.20/50 as excess liquidity remained at record after tens of billions of rupees were dumped on money markets a day earlier. On Thursday excess liquidity rose to 58 billion rupees as part proceeds of a dollar bond was […]
Sri Lanka could borrow more abroad; has to manage risk: Fitch
July 27, 2012 (LBO) – Sri Lanka could borrow abroad more on the back of strong interest for sovereign bonds and active encouragement by authorities but the government and companies have to manage risks, Fitch, a rating agency has said. “There is a cost benefit in sourcing external debt for most issuers, but risks need […]
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July 27, 2012 (LBO) – Sri Lanka’s Seylan Bank has rated given a ‘BBB+(lka)’ rating for a proposed 2.0 billion rupee subordinated bond rated one notch below the bank’s ‘A-(lka)’ national rating. “Seylan’s National Long-Term Rating is driven by implied extraordinary support from the State of Sri Lanka during financial distress, given the bank’s systemic […]
Sri Lanka citizen activist calls for more budget transparency
July 27, 2012 (LBO) – A Sri Lankan citizen and former top business executive, has called for greater transparency in disclosing budget numbers including present values of future liabilities and an overall public deficit figure. Chandra Jayaratne, a former head of Sri Lanka’s Ceylon Chamber of Commerce said better disclosures should be made by the […]