Category: Economy and Markets
Sri Lanka inflation spike could be one-off: IMF
July 19, 2012 (LBO) – Sri Lanka’s recent spike in inflation following a steep depreciation of the currency is mostly a structural change in prices, and not continuous monetary inflation, an International Monetary Fund official said. As foreign reserves are sold down by the Central Bank, the trade gap widens and the current account deficit […]
” rating confirmed: RAM
July 19, 2012 (LBO) – RAM Ratings has confirmed an ‘Aa+’ rating of Sri Lanka’s Commercial Bank of Ceylon with a stable outlook. “The ratings are premised on the Group’s strong market position as Sri Lanka’s largest privately owned licensed commercial bank and third-largest overall..,” the rating agency said in a statement. “The ratings also […]
Sri Lanka war-affected entrepreneurs to be recognised
July 19, 2012 (LBO) – Entrepreneurship awards by a Sri Lankan business chamber will include two new categories this year to recognise women running small enterprises in the former war zone and disabled entrepreneurs. Sri Lanka’s 30-year ethnic war which ended in 2009 left thousands of people disabled on both sides of the conflict and […]
Sri Lanka stocks up 1.4 -pct: rupee firmer
July 19, 2012 (LBO – Sri Lanka stocks ended a five day losing streak and close up1.42 percent Thursday in a broad based rally while the rupee firmed against the spot US dollar, brokers and dealers said. The Colombo All Share Price Index gained 68.47 points to 4,891.11 up 1.4 percent and the S&P 20 […]
‘s Leasing to sell US$150mn bond
July 18, 2012 (LBO) – People’s Leasing Company Plc, Sri Lanka’s largest lease financier and a unit of state-run People’s Bank said it is planning to raise 150 million US dollars from a Euro dollar bond. Standard & Poor’s rated the company ‘B+’ Wednesday with a ‘stable’ outlook. “In our view, the People’s Bank group […]
Sri Lanka sovereign bond 10 times oversubscribed: Central Bank
July 18, 2012 (LBO) – A billion dollar 10-year Sri Lanka sovereign bond s has attracted orders of 10.5 billion dollars from 425 investors, with US investors buying 44 percent of the issue, the Central Bank said. The bond was sold to yield 5.875 percent, lower than the 6.25 percent rate a year earlier. Sri […]
Sri Lanka Treasuries yields slightly up
July 18, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities with 12-month bills gaining the most rising 06 basis points to 13.16 percent at Wednesday’s auction, data from the state debt office showed. Three months bills rose 02 basis points to 11.36 percent and 6-month bills rose 05 basis points to 12.91 percent. […]
Sri Lanka bill yields fall after auction
July 18, 2012 (LBO) – Yields of Sri Lankan Treasuries eased slightly after a weekly auction with longer term bond rates also falling about 10 basis points in secondary market trading, while the rupee also gained, dealers said. In the secondary market 12-month bills traded at 13.00 percent sharp, lower than the auction average of […]
””
July 18, 2012 (LBO) – Sri Lanka’s People’s Leasing Company Plc, a unit of state-run People’s Bank, has been rated at ‘B+’ with a ‘stable’ outlook, by Fitch Ratings on the expected support from the parent. The full statement is reproduced below Fitch Rates Sri Lanka’s People’s Leasing ‘B+’; Outlook Stable Fitch Ratings-Mumbai/Colombo-18 July 2012: […]
Sri Lanka stocks down 0.6-pct
July 18,2012 (LBO) – Sri Lanka’s stocks fell 0.6 percent Wednesday, with large cap stocks losing ground, brokers said. The Colombo All Share Price Index fell 30 points to 4,822 and the S&P 20 Index of large cap stocks fell 0.4 percent (13.02 points) to 2742.75 Turnover was 383 million rupees. Sampath Bank was the […]
Sri Lanka sells billion dollar bond to yield 5.875-pct
July 18, 2012 (LBO) – Sri Lanka has sold a 10-year bond to yield 5.875 percent sharply lower than the 6.25 percent paid last year for a bond of similar size and tenor, though risk premiums had widened. Vietnam – which like Sri Lanka – has a so-called soft-pegged central bank ran into trouble because […]
Sri Lanka stocks down 0.5-pct, rupee weaker
July 17, 2012 (LBO) – Sri Lanka’s stocks fell 0.5 percent Tuesday, with large cap stocks including banks losing ground, in a day which a billion US dollar bond was launched in international capital markets, brokers said. Analysts say if the bond proceeds are bought by the Central Bank and large volumes of rupees dumped […]