Category: Economy and Markets
‘s foreign owned bond holdings increase
Mar 05, 2012 (LBO) – Foreign investor holdings in Sri Lanka government bonds rose to 225 billion rupees in the week ending February 29, up from 212 billion rupees a week earlier, official data showed. Treasury bill holdings rose to 91 billion rupees from 84 billion rupees a year earlier, Central Bank data showed. The […]
Sri Lanka shares end down 0.2-pct
Mar 02, 2012 (LBO) – Sri Lankan shares closed weaker Friday in somewhat choppy trade with turnover falling to low levels, brokers said. Environmental Resources Investments was the most actively traded stock, closing at 19.30 rupees, down 60 cents as was HVA Foods, which ended at 17.60 rupees, down a rupee. Acme Printing & Packaging […]
Sri Lanka trims bank forex trading positions
Mar 02, 2012 (LBO) – Sri Lanka has trimmed the level of foreign exchange banks can keep overnight for trading to around a third of an earlier level, a day after curbs was placed in the forward market, dealers said. The rupee gained to 119.00/120.00 against the greenback in the spot dollar market from around […]
Sri Lanka hoping to resume IMF program: Central Bank
Mar 01, 2012 (LBO) – Sri Lanka is planning to resume a deal with the International Monetary Fund which can boost the island’s forex reserves which had fallen to 5. 7 billion US dollars and there is no capital flight, the Central Bank said. Analysts say that in the absence of a clean float and […]
Sri Lanka think tank World Bank starts online debate on better jobs
Mar 01, 2012 (LBO) – An online discussion based on a report by Sri Lanka’s Institute of Policy Studies (IPS) and the World Bank on creating better jobs has been started using ‘Google Moderator’, to invite more public discussion. “Sri Lanka is in a new phase of growth, but the development challenges are many. Unemployment […]
Sri Lanka shares end up 0.2-pct
Mar 01, 2012 (LBO) – Sri Lankan shares closed firmer Thursday with big deals in Hayleys and LB Finance pushing up turnover, brokers said. The main All Share Price Index closed up 0.21 percent (11.59 points) at 5,469.68, while the more liquid Milanka index rose 0. 26 percent (12.13 points) to close at 4,763.19. Turnover […]
Sri Lanka caps forex forward deals to 90-days
March 01, 2012 (LBO) – Sri Lanka’s central bank has capped forward foreign exchange deals with the rupee to 90 days to reduce speculation Governor Nivard Cabraal said. “It will reduce speculation overall,” Cabraal said. Sri Lanka reduced interventions in forex markets on February 09, allowing the exchange rate to be market determined and said […]
Sri Lanka sovereign rating outlook lowered by S&P
Feb 29, 2012 (LBO) – Standard & Poor’s Ratings Services has lowered its outlook on Sri Lanka’s ‘B+’ long-term foreign currency sovereign credit rating to stable from positive because of falling foreign reserves and fiscal problems. The rating agency at the same time downgraded Sri Lanka’s long-term local currency rating to ‘B+’ from ‘BB-‘, while […]
‘s inflation eases to 2.7-pct in Feb
Feb 29, 2012 (LBO) – Sri Lanka’s consumer prices rose 2.7 percent in the 12-months to February 2012, easing from 3. 8 percent in January, though the index gained 0.4 percent in the month, the state statistics office said. Interest rates have since risen. Sri Lanka’s inflation remained low by historic standards despite a steep […]
”
Feb 29, 2012 (LBO) – Fitch Ratings Lanka has lowered Lanka Orix Leasing Company’s rating from ‘A-(lka)’ to ‘BBB+(lka)’ with a negative outlook with a similar cut in outstanding senior unsecured debentures. The rating is still in the investment grade. Fitch said the downgrade came from a “higher appetite for market risks” at the holding […]
Sri Lanka stocks close up 0.4-pct
Feb 29, 2012 (LBO) – Sri Lanka’s stock closed up 0.49 percent Wednesday, with turnover boosted by the change of control of motor dealers, though market participants are still getting used to a new trading system, brokers said. The Colombo All Share Index rose 0. 49 percent to 5,458.09 points up 26.42 points while the […]
Sri Lanka Commercial Leasing and Finance outlook cut
Feb 29, 2012 (LBO) – Sri Lanka’s Fitch Ratings has cut the outlook on Sri Lanka’s Commercial Leasing and Finance (CLC) to ‘negative’ from ‘stable’ but confirmed its underlying rating at ‘A-(lka)’. Fitch said CLC could be relied upon for support from its parent Lanka Orix Leasing Company if required which had a rating one […]