Category: Economy and Markets
Sri Lanka stocks slump 1.5-pct to a 7-month low
July 25, 2011 (LBO) – Sri Lanka stocks slumped 1.5 percent to a seven month low, reaching with the benchmark index falling to levels last seen last on December 23, as the market corrected downwards, brokers said. The benchmark All Share Price Index closed at 6434.34, down 1.57 percent (102.91 points) while the Milanka Index […]
US panel votes to bar aid to Sri Lanka
WASHINGTON, July 22, 2011 (AFP) – A US congressional committee voted Thursday to ban aid to Sri Lanka unless the nation shows “accountability” over the bloodshed in the final stages of its civil war in 2009. In a voice vote, the House Foreign Affairs Committee approved a measure that would ban all US government funding […]
Sri Lanka braces for rupee flood from dollar bond
July 22, 2011 (LBO ) – Sri Lanka’s banking system is braced for a flood of rupees following the sale of a billion dollar bond but Central Bank Governor Nivard Cabraal says the groundwork to temper a shock, has already been laid. Inter-bank call money rates have also edged up above 8.0 percent in recent […]
Sri Lanka stocks slump almost one-pct
July 22, 2011 (LBO) – Sri Lanka share prices closed weaker Friday, falling steeply on thin turnover after rising slightly at the opening, and recovering slightly towards the end of trading, brokers said. The main All Share Price Index closed at 6,537.25, down 0.94 percent (61.72 points) while the more liquid Milanka index fell 1. […]
Sri Lanka raises one billion dollars at 6.25 percent
July 21, 2011 (LBO) – Sri Lanka raises has sold a 10-year sovereign bond at 6. 25 percent to raise one billion dollars from international markets, a source close to the deal said. Sri Lanka recently got a rating upgrade, but it is also balanced against turmoil in international bond markets, analysts said. The deal […]
Sri Lanka stocks slump 1.3-pct
July 21, 2011 (LBO) – Sri Lankan stocks slumped Thursday with the main index reaching the lowest level this year and brokers saying many shares were overvalued and foreigners were getting out of the market. Recently listed Nanda Investment was the top percentage gainer and closed at 27.90 rupees, up 9.30 rupees or 50 percent. […]
Sri Lanka bond navigates market uncertainty: CB Governor
July 21, 2011 (LBO) – Strong demand for Sri Lanka’s billion dollar sovereign bond among international fund managers indicated that the country’s credit has matured in international market, Central Bank Governor Nivard Cabraal said. “It’s really a reflection of Sri Lanka’s maturity in the international markets,” Central Bank Governor Nivard Cabraal said. “In a sea […]
Sri Lanka stocks up 0.1-pct
July 20, 2011 (LBO) – Sri Lanka share prices closed mixed with the main index up just 0.10 percent after a roller-coaster ride that saw it briefly in negative territory and some interest in the hotel sector, brokers said The main All Share Price Index closed at 6,682.46, up 0.10 percent (6.76 points) while the […]
” by Fitch
July 20, 2011 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar-denominated global bonds due 2021 an expected ‘BB-(exp)’ rating. “The final rating is contingent on the receipt of final documentation conforming to information already received,” it said in a statement. As the currency of settlement is specified as US dollars, the rating […]
Sri Lanka peace dividend in low rates, higher capex: Treasury Secy
July 20, 2011 (LBO) – Sri Lanka is seeing a peace dividend in the form of lower interest rates, taxes, inflation and higher capital expenditure after a 30-year war ended, Treasury secretary P B Jayasundera said. He said defence expenditure which was about 5.0 percent of gross domestic product during the war years, has now […]
Sri Lanka launches billion dollar sovereign bond
July 20, 2011 (LBO) – Sri Lanka has launched a sovereign bond to raise a billion dollars from global capital markets, with a ‘book building’ process starting with Asian fund managers, financial sources said. The process of ‘book building’ or taking orders from fund managers starts as Asian markets open and moves to Europe as […]
Sri Lanka Treasuries yields flat
July 20, 2011 (LBO) – Yields on Sri Lankan Treasury bills stayed steady at this week’s auction, the government debt office, which is a unit of the central bank, said. The three-month yield was 7.11 percent, six-months 7.19 percent and the 12-month yield 7. 25 percent, all unchanged from the previous week. The debt office […]