Category: Economy and Markets
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 […]
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 […]
Sri Lanka bond pricing guidance tightened
July 20, 2011 (LBO) – Pricing guidance to fund managers on a billion dollar sovereign bond for Sri Lanka has been tightened from an initial 6.5 percent to around 6.3 percent amid strong demand, financial market sources said. Sri Lanka has reported lower inflation and high growth of around 8.0 percent and the government’s budget […]
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 stocks slump one-pct
July 19, 2011 (LBO) – Sri Lanka share prices slumped Tuesday for the second day after last week’s brief rally, with losses in index-heavy stocks and newly listed ones, brokers said. The main All Share Price Index closed at 6,675. 70, down 1.02 percent (68.49 points) while the more liquid Milanka index fell 0. 82 […]
Sri Lanka ratings lifted amid global turmoil
July 19, 2011 (LBO) – Sri Lanka’s central bank, which manages the government’s debt welcomed an underlying sovereign rating and an outlook upgrade from two international agencies, at a time when bond markets in the US and Europe are in turmoil. Sri Lanka has already started a series of meetings or ‘investor updates’ with bond […]
Sri Lanka may not take last IMF loan tranche: Fitch analyst
July 19, 2011 (LBO) – There is a “strong possibility” that Sri Lanka may not take the final tranche from the International Monetary Fund under a 2. 6 billion US dollar bailout program Fitch Ratings Asian Pacific director Art Woo said. IMF’s last review team decided to end quarterly reviews and move to 6-monthly reviews […]
Sri Lanka sovereign rating outlook raised by S&’s
July 19, 2011 (LBO) – Standard & Poor’s Ratings Services has raised its outlook on Sri Lanka’s long-term foreign currency sovereign credit rating to positive from stable. “The outlook on the long-term local currency rating is stable. The transfer and convertibility (T&C) assessment is unchanged at ‘B+’,” a statement said. “We revised our outlook on […]
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July 18, 2011 (LBO) – Moody’s Investors Service, a rating agency has lifted the outlook on Sri Lanka’s below-investment-grade ‘B1’ credit, to ‘positive’ ahead of a billion dollars sovereign bond sale. Road shows for the bond have already started. The rating agency said the end of a long drawn out war which reduced political risk, […]
”: Fitch
July 18, 2011 (LBO) – Fitch Ratings has upgraded Sri Lanka’s long-term foreign and local sovereign ratings to ‘BB-‘ from ‘B+’ with stable outlooks for both. “In contrast, continued double-digit inflation or deterioration in political stability would put downward pressure on Sri Lanka’s ratings.” Fitch said Sri Lanka has also made some “important headway” in […]
Sri Lanka stocks down 0.5-pct
July 18, 2011 (LBO) – Sri Lanka share prices weakened Monday after a slight two-day rally last week, with several recently listed stocks among the losers, brokers said The main All Share Price Index closed at 6,744.19, down 0.48 percent (32.84 points) while the more liquid Milanka index fell 0.98 percent (61.81 points) to close […]