Category: Economy and Markets
Sri Lanka’s battered currency might see some respite: report
June 22, 2012 (LBO) – Sri Lanka’s currency is expected to firm up later this year, while treasury yields could creep up on fiscal slippages, a report said, as the central bank looks for ways to tighten monetary policy. The Sri Lankan rupee has fallen by some 17 percent against the US dollar since the […]
Sri Lanka stocks close down 0.7-pct
June 21, 2012 (LBO) – Sri Lanka stocks fell 0. 7 percent Thursday ending losing some of the gains made earlier in the week, while the rupee was steady against the US dollar, brokers said. The main All Share Price Index fell 0. 71 percent (35.99) to 5,042.07, while the more liquid Milanka index closed […]
Sri Lanka refugee boat capsizes off Australian island: report
June 21, 2012 (LBO) – A boat believed to have 200 people from Sri Lanka has capsized of Australia’s remote Christmas Island which reports day could become one of the worst refugee disasters in the country. Australia, a country of immigrants has tightened immigration barriers in recent years and followed a controversial policy of detaining […]
Sri Lanka selects Bank of America, Citi, HSBC, Barclays to sell sovereign bond
June 21, 2012 (LBO) – Sri Lanka has selected Bank of America, Citi, HSBC and Barclays Capital to sell sovereign bond of up to a billion US dollars this year, the Central Bank which raises debt for the Treasury said. In October, Sri Lanka’s maiden 500 million US dollar sovereign bond is maturing. State-run Peoples’ […]
‘s real estate growth slowed by interest rates, inflation: report
June 20, 2012 (LBO) – Growth in Sri Lanka’s real estate sector may slow in the coming months, as rising interest rates and higher construction costs begins to bite, a new report has forecasted. Sri Lanka is in the midst of a post-war property boom, with key real estate drivers centered around the leisure and […]
Sri Lanka stocks up 0.3-pct
June 20, 2012 (LBO) – Sri Lanka’s stocks extended gains closing up 0.3 percent Wednesday building up from a 1.2 percent recovery a day earlier, brokers said. The benchmark Colombo All Share Index rose 18 points to close at 5,078. 06 points. The Milanka Index of more liquid stocks rose 40 points to close at […]
Sri Lanka to sell $150 mn in debt
June 20, 2012 (LBO) – Sri Lanka’s public debt office is seeking bids to raise 150 million dollars via a bond issue, a public notice said. Those eligible to subscribe include Sri Lankan with dual citizens, foreign nationals and non-resident Sri Lankans, the Public Debt Department of the Central Bank of Sir Lanka said Wednesday. […]
Sri Lanka Treasuries yields up
June 20, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities with 6-month bill picking up the most at Wednesday’s auction, data released by the state debt office showed. The 3-month yield rose 09 basis points to 11. 04 percent, the 6-month yield rose 18 basis points to 12.47 percent and the 12-month yield […]
Sri Lankans are charitable, but within reason
June 19, 2012 (LBO) – Sri Lankans give generously to help the poor, the needy, the religious and their old schools, but fight shy on giving to civil society organisations, a preliminary study showed. However, the long-term potential of these practices – and where they may lead – remains an open question, the researchers noted. […]
Sri Lanka money markets reach policy rates
June 19, 2012 (LBO) – Sri Lanka’s money markets were tight Tuesday with gilt backed repos quoted at 9. 50/70 percent around the policy interest rate of 9.75 percent, for over a week, two months after the key rate was raised, official data showed. High short term rates discourage the holding of dollars by exporters […]
Sri Lanka stocks up 1.2-pct
June 19, 2012 (LBO) – Sri Lanka’s stocks closed up 1.2 percent Tuesday recovering lost ground with sharp gains in with hotel firms Citrus Leisure and Kalpitiya Beach showing the most gains, brokers said. The Colombo All Share Index rose 61 points to close at 5,059. 29 points with the Milanka Index of liquid stocks […]
” rating confirmed
June 18, 2012 (LBO) – Sri Lanka’s Fitch Ratings has confirmed state-run National Savings Bank’s ‘AAA(lka)’ rating with a stable outlook based on continued state support for the bank and keeping to its mandate. “The rating action follows the halting and subsequent reversal of, a transaction by NSB to acquire shares in The Finance Company […]