Category: Economy and Markets
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 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 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 […]
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 […]
‘s
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 […]
Sri Lanka stocks up 0.9-pct
July 15, 2011 (LBO) – Sri Lanka stocks continued the upward momentum for the second straight day with gains by index heavy John Keels Holdings and speculative buying pushing up recently listed financial stocks, brokers said. The main All Share Price Index closed at 6,777. 03, up 0.91 percent (61.36 points) while the more liquid […]
Sri Lanka central bank buys dollars in June
July 15, 2011 (LBO) – Sri Lanka’s central bank has bought 92.5 million US dollars from interbank forex markets in June, ending two months of net selling, official data shows, though newer data points to fresh selling. By June 12, excess liquidity had fallen to 36 billion rupees. Day to day excess liquidity is also […]
Sri Lanka to revive export show after end of war
July 13, 2011 (LBO) – Sri Lanka is to revive an international export exhibition after 15 years to promote the island’s exports and attract foreign investments after the end of its 30-year ethnic war. The event is being organised by the Export Development Board responsible for promoting exports during March 28 – 30, 2012 at […]