Category: Economy and Markets
‘s Commercial Bank to sell listed debt
Mar 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said it is planning to raise at least a billion rupees through sale of listed debt, but may sell more debt if the demand is higher. Commercial Bank said in a stock exchange filing that wanted to sell at least 500,000 redeemable debentures of […]
Sri Lanka stocks close flat, rupee weaker
Mar 14, 2012 (LBO) – Sri Lanka’s stocks closed flat Wednesday, with foreign investors being net buyers and the rupee fell to a new low in forex markets, brokers and dealers said. The benchmark Colombo All Share Index closed down 5. 19 points at 5,418.07 points and the Milanka Index of liquid stocks gained 0. […]
Sri Lanka rupee falls to new low
Mar 13, 2012 (LBO) – Sri Lanka’s rupee was quoted at a new historic low of 123.45/60 against the spot US dollar in late trading Tuesday dealers said. The rupee opened around 121.80 to the US dollars. Analysts had warned that continued liquidity injections in to money markets to sterilize off-market forex interventions will result […]
Sri Lanka overnight rates high amid liquidity shortages
Mar 12, 2012 (LBO) – Sri Lanka overnight cash rates topped 10 percent Monday for the third day running amid liquidity shortages pointing to heavy off-market forex interventions, dealers and analysts said. Sri Lanka’s foreign reserves fell to 5,957.7 US dollars in December 2011 from a peak of over 8.0 billion US dollars in July. […]
Sri Lanka to sell US$45mn in bonds
March 12, 2012 (LBO) – Sri Lanka is offering 45 million US dollars worth three and four year government bonds for sale to foreign investors and permitted domestic investors, ahead of a maturity of the same volume. The state debt office, which is a unit of the Central Bank said it is offering 35 million […]
Sri Lanka stocks close 0.6-pct lower
Mar 12, 2012 (LBO) – Sri Lanka’s stocks closed 0. 58 percent lower Monday with illiquid stocks falling in thin trade, though foreign investors were net buyers and some large caps stocks gained, dealers said. The benchmark Colombo All Share Index closed down 31. 8 points at 5,424.4 points and the Milanka Index of liquid […]
Sri Lanka to slap price controls on drugs amid warnings
Mar 11, 2012 (LBO) – Sri Lanka will soon bring a law to control prices of drugs, a media report said amid protests from the pharmaceuticals trade which had warned that price controls may create shortages of essential drugs from time to time. Sri Lanka’s post-independence rulers, who printed money to run deficit budgets, depreciated […]
Three Sri Lanka soldiers found shot dead in Jaffna: Update
Mar 09, 2012 (LBO) – Three soldiers assigned to provide security to a Hindu temple were found shot dead in Jaffna in Sri Lanka’s north Friday morning, military spokesman brigadier Nihal Hapuarachchi said. He said initial investigations had indicated that the incident was due to a personal dispute. “There were no third parties involved,” he […]
‘s Tata on US$50mn project
Mar 08, 2012 (LBO) Sri Lanka’s Urban Development Authority is in talks with India’s TATA Housing Development Company, to develop an underserved area in Colombo an official said. The Urban Development Authority says slum dwellers are living in appalling conditions without proper ventilation and basic infrastructure. “They can’t even open their windows because it touches […]
Sri Lanka rupee weaker
Mar 08, 2012 (LBO) – Sri Lanka’s rupee was quoted around 121.55/70 against the spot US dollar in mid-morning trade after opening around 121.30/70 rupees, dealers said. On Tuesday the rupee closed around 121.30/60 against the greenback. In money markets overnight gilt-backed repos were quoted at 8.80/90 percent levels and call money was at 9.75/85 […]
Sri Lanka Treasuries yields up
Mar 06, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Tuesday’s auction with the three month yield going up the most at 31 basis points to 10. 11 percent, the state debt office said. The 6-month yield rose 24 basis points to 10.18 percent and the 12-month yield rose 15 basis points […]
Sri Lanka rupee gains after opening, overnight rates tighter
Mar 06, 2012 (LBO) – Sri Lanka’s rupee was quoted wide on opening at 121.70/122.10 against the greenback and gained slightly in late morning trade to 121.80/90 amid foreign bank selling while overnight rates were tighter, dealers said. The rupee closed around 121.95/122.05 Monday. Gilt backed repos were quoted around 8. 80/8.90 percent up about […]