Category: Economy and Markets
Sri Lanka raises US$500mn for 7.4-pct
Oct 16, 2009 (LBO) – Sri Lanka has raised 500 million US dollars through a 5-year sovereign bond at a coupon interest rate of 7.4 percent, lower than an offering made two years ago, a media report said. There has been strong interest for the Sri Lanka bond running into billions of dollars, an international […]
Sri Lanka leader takes aim at international lenders
October 15, 2009 (AFP) – Sri Lanka’s president on Thursday accused international financial institutions of placing too heavy a burden on developing nations by demanding they slash subsidies in exchange for help. President Mahinda Rajapakse told a meeting of the 31-member Asian Cooperation Dialogue in Colombo that elimination of poverty in developing nations “should not […]
””: S&P
Oct 15, 2009 (LBO) – Standard & Poor’s has lifted the outlook on Sri Lanka’s ‘B’ sovereign rating to ‘positive’ from ‘stable’ expecting that a program with the International Monetary Fund would be completed, the rating agency said. “The swift recovery in Sri Lanka’s foreign currency reserves is propelled by both fundamental and market factors,” […]
Sri Lanka sovereign bond may yield 7.75-pct: report
Oct 15, 2009 (LBO) – A 500 million US dollar denominated bond maturing in 2015 now being sold by Sri Lanka may yield about 7.75 percent a year, lower than Sri Lanka’s first sovereign bond issued in 2007, a media report said. Foreign reserves have topped 4.4 billion US dollars from a low of around […]
Dollar weakens, gold, oil, Euro soars
NEW YORK, October 13, 2009 (AFP) – The dollar faced more headwinds Tuesday and the euro leapt to a new 2009 high on the greenback, as rising economic confidence whetted investors’ appetite for the riskier assets. The euro earlier in the day fell as low as 1.4762 dollars after publication of Germany’s ZEW survey which […]
Sri Lankan shares becalmed, retailers take profits
Oct 14, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as retail investors took profits from an overheating market, while banking stocks made further gains, brokers said. “With the activity improving the market depth has improved giving rise to higher liquidity levels which is an additional catalyst to foreign investors,” Samarasinghe said. Touchwood Investments […]
” by Fitch
Oct 14, 2009 (LBO) – An upcoming US dollar denominated sovereign bond issue by Sri Lanka which is due to mature in 2015 has been rated ‘B+’, in line with the country’s long term foreign currency rating, Fitch Ratings said. “A more robust revenue performance would provide greater fiscal flexibility in addressing post-war spending needs, […]
” by S&P
Oct 14, 2009 (LBO) – Standard and Poor’s has give a ‘B’ rating to an upcoming 500 million US dollar sovereign bond by Sri Lanka maturing in 2015, with a ‘stable’ outlook citing a deal with the International Monetary Fund that has improved foreign reserves. “The sovereign credit ratings on Sri Lanka take into account […]
Sri Lanka 6-month Treasuries fall to single digits
Oct 14, 2009 (LBO) – Sri Lanka’s 6-month Treasury bill yield moved to single digits falling 29 basis points to 9.81 percent at Wednesday’s auction, and the 3-month yield fell 11 basis points to 9.15 percent, the government’s debt office said. Sri Lanka’s longer term bill yields have also been falling steadily.The central bank has […]
Sri Lanka asks expats help rebuild war-hit regions
October 12, 2009 (AFP) – Sri Lanka on Monday announced plans to tap its expatriate community to help rebuild the island’s war-ravaged areas and encourage much-needed foreign investments.President Mahinda Rajapakse has invited leading Sri Lankans abroad for a meeting to discuss investment opportunities following the crushing of Tamil separatists in May after nearly four-decades of […]
Sri Lanka central bank holds rates amid low inflation
Oct 13, 2009 (LBO) – Sri Lanka’s Central Bank is holding its main policy rate steady at 10.50 percent amid low inflation, expecting the effect of previous cuts to spread wider into the banking system. Weak Credit In the year to August private sector credit was down 4.6 percent according to Central Bank data, while […]
Sri Lanka post-war prospects scouted by US firms
Oct 13, 2009 (LBO) – American firms are scouting for business opportunities in post-war Sri Lanka in anticipation of accelerated economic growth, officials said.Senior executives, mainly from top US companies in India, are in Colombo for talks with Sri Lankan firms and government agencies. US investments could help rebuild the war-ravaged economy and contribute to […]