Category: Economy and Markets
‘s central bank kills liquidity in outright bill sales
July 13, 2012 (LBO) – Sri Lanka’s central bank has sold 2. 1 billion rupees of Treasury bills in its portfolio to yield 10.92 percent Friday, in the second such transaction for the week, dealers said. The rupee strengthened to around 133.83/85 levels in late trading, dealers said. Update/recast On July 11, the Central Bank […]
Sri Lanka bond investors can maintain portfolio: Standard Chartered
July 13, 2012 (LBO) – Sri Lankan bonds had a neutral position in a Standard Chartered credit model and investors looking to buy bonds should go for new issues, which were better priced, rather than buy in the secondary market, Standard Chartered Bank said. Sri Lanka’ balance of payments is expected to be in surplus […]
Sri Lanka LOLC given (SL) A- rating
July 12, 2012 (LBO) – Sri Lanka’s Lanka Orix Leasing Company Plc, has been rated ‘[SL] A-‘ with a stable outlook by ICRA Ltd, an associate of Moody’s Investors Service. “The rating factors the LOLC Group’s long track record of profitable operations, its position as the market leader in the Sri Lankan leasing business market, […]
Sri Lanka stocks steady, rupee weaker
July 12, 2012 (LBO) – Sri Lanka’s stocks closed marginally higher Thursday while the rupee closed weaker from opening, brokers and dealers said. The Colombo All Share Price Index closed up 0.08 percent at 4,872.06 points and the S&P SL20 index of large cap stocks closed 0.17 percent higher at 2,780.34. Turnover was 336 million […]
Sri Lanka allows transaction between forex accounts
July 11, 2012 (LBO) – Sri Lankan bank customers holding foreign currency accounts would be able to transfer money among each others’ account with greater freedom in the future the Central Bank said. Holders of non-resident foreign currency (NRFC) accounts would be allowed to transfer money to other NRFC account holders and to resident foreign […]
Sri Lanka Treasuries yields up
July 11, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction with three months yields gaining most by 14 basis points to 11. 34 percent, data from the state debt office showed. The 6-month yield increased 09 basis points to 12.86 percent and the 6-month yield rose 11 basis points to […]
Sri Lanka holds policy rates, credit slowing, IMF targets met: CB
July 11, 2012 (LBO) – Sri Lanka is holding its key interest rates at which money is injected into the economy at 9.75 percent amid rising inflation, though credit and money supply growth is starting to slow, the Central Bank said. In February energy prices were raised, the exchange partially floated to reduce the need […]
Sri Lankan stocks fall 0.39 percent
July 10, 2012 (LBO) – Sri Lankan stock prices remained in the red, despite large deals in Confifi Hotel, Hatton National Bank and Aitken Spence that helped swell Tuesday’s turnover, brokers said. Hatton National Bank’s non-voting stock gained 2.80 rupees to 92.80 rupees on 2.34 million shares. Brokers said a large block of 1.22 million […]
Sri Lankan stocks down 0.07 percent
July 09, 2012 (LBO) – Sri Lankan stocks closed down 0.07 percent on Monday, despite investor interest in selected stocks like Carsons Cumberbatch PLC, brokers said. LOLC Group, which has investments in leasing and financial services, saw 214,100 shares trade. But the stock closed down 10 cents to 37.10 rupees. Overseas Realty, the Singaporean owners […]
Sri Lanka losses on Greece bonds offset by other gains: Central Bank
July 07, 2012 (LBO) – Sri Lanka has lost money by buying Greece government bonds for its foreign reserve portfolio but returns on other assets have offset the losses, the Central Bank said. Sri Lanka has a de facto peg with the US dollar and aggressive investment strategies involving diversifying out of dollar assets can […]
Sri Lanka excess liquidity up, rates lower
July 06, 2012 (LBO) – Excess liquidity in Sri Lanka’s interbank markets have topped 20 billion rupee over the past three days easing tighter monetary conditions that prevailed a week earlier, official data show. If not the Central Bank will have to sell the collected dollars to prevent the exchange from being depreciated by the […]
Sri Lankan stocks up 0.08 percent
July 06, 2012 (LBO) – Sri Lankan share prices snapped a four-day loosing streak to rise marginally by 0.08 percent on Friday, with activity centred around Central Finance PLC and few small cap stocks, brokers said. PC House Holdings, a computer peripheral company, slipped 50 cents to 13.40 rupees on 3.7 million shares, largely on […]