Category: Economy and Markets
Sri Lanka pays back money printed in April
May 01, 2012 (LBO) – Sri Lanka’s Treasury has repaid most of the money borrowed from the banking system including printed money from the Central Bank to meet seasonal salary needs of state workers, a top official said. “Instead of Treasury bonds and long term securities there has been a preference for to less than […]
Sri Lanka to roll-over US500mn bond, extend maturity: Treasury secy
Apr 30, 2012 (LBO) – Sri Lanka will roll-over a maturing 500 million US dollar bond which is maturing in October 2012 and extend its tenor to 10-years, Treasury secretary P B Jayasundera said. In 2007, Sri Lanka sold its maiden 500 million dollar sovereign bond. Jayasundera said whether another 500 million US dollars would […]
Sri Lanka, emerging countries should be watchful about Europe: IMF official
Apr 30, 2012 – (LBO) – Though the global economy is showing signs of improving, a slowing Europe and debt troubles which Sri Lanka and emerging Asia should watch, an International Monetary Fund official said. European fallouts could hurt emerging Asia through trade and financial channels, IMF’s resident representative Koshy Mathai said, at an economic […]
Sri Lanka and India ratings could be hurt by oil subsidies: S&P
Apr 30, 2012 (LBO) – Sri Lanka and India could face credit downgrade if oil prices rise further and energy subsidies are not reduced, Standard and Poor’s said in an Asia-Pacific report. “In India and Sri Lanka, we expect fuel and related subsidies to markedly worsen fiscal and external deficits unless subsidy levels fall,” Standard […]
‘s April inflation accelerates to 6.1 percent
Apr 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6. 1 percent from a year earlier, accelerating from 5.1 percent in March, the state statistics office said. The index rose 0.6 percent in the month to 159.8. The food and non-alcoholic beverages component rose 1. 0 percent and non-food items rose […]
Sri Lanka Central Finance to raise sell unlisted debt
Apr 29, 2012 (LBO) – Sri Lanka’s Central Finance Company Plc, said it was planning to raise 700 million from a sale of unlisted debt. NDB Investment Bank will structure and place the deal. Central Finance plans to sell 700,000 unlisted, unsecured, redeemable debentures of 1,000 rupees each. .
Sri Lanka LOLC says placed Rs3bn in debt
Apr 29, 2012 (LBO) – Sri Lanka’s Lanka Orix Finance Company Ltd Plc, said it had placed three billion rupees of 7-year debt in February 2011. The firm said in a stock exchange filing that two billion rupees of debt was placed with Saakya Capital (Pvt) Ltd and one billion with Satya Capital (Pvt) Ltd, […]
Sri Lanka credit ceilings not proposed by IMF
Apr 28, 2012 (LBO) – Administrative controls imposed on Sri Lankan banks as part of a package of measures to combat a balance of payments crisis, were not among the preferred measures advocated by the International Monetary Fund, an official said. “Most economists would say a price mechanism is a good way of matching demand,” […]
Sri Lanka forex markets quiet
Apr 27, 2012 (LBO) – Sri Lanka’s rupee was tentatively quoted around 130.80/131.50 against the US dollar as markets opened Friday but with little firm quotes due to moral suasion from the monetary authority, dealers said. On Thursday the rupee closed around 131.50 to the US dollar with almost no trading earlier in the day. […]
Sri Lanka policy flexibility to bring longer term stability: IMF
Apr 27, 2012 (LBO) – On going policy tightening in Sri Lanka and commitment of policy flexibility, will slow growth and may push up inflation but will bring stability to sustain long term growth, an International Monetary Fund official said. “Yes, growth will slow, inflation will rise, cost of living will rise, but the balance […]
Sri Lanka forex market subdued
Apr 26, 2012 (LBO) – Sri Lanka’s forex markets were subdued with isolated quotes after the conclusion of a meeting of bank treasurers with Central Bank officials, market participants said. Dealers said there were tentative offers and 129. 50 levels to the US dollar but no active trading in late afternoon trade dealers said. The […]
”s Jubilant
April 26, 2012 (LBO) – India’s Jubilant FoodWorks Limited, regional franchise holder for Domino’s Pizza, is investing 300 million rupees in Sri Lanka in 2012, and would spend up to two billion rupees over the next five years to support growth, an official said. “We are extremely bullish on Sri Lanka, the economy has shown […]