Category: Economy and Markets
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 […]
””: 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 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 […]
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 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 […]
” 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 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 […]
Sri Lanka stock close up 0.2 percent
Oct 13, 2009 (LBO) – Sri Lankan shares closed up 0.2 percent Tuesday, supported by banks extending gains, while NAMAL Acuity Venture Fund, a mutual fund, ended lower after yesterday’s debut, brokers said.Touchwood Investments closed at 92.75 rupees, up 75 cents, and Lanka Cement closed at 32.25 rupees, down 25 cents. Dialog Telekom, a unit […]
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 Lankan shares close 0.5-pct up
Oct 12, 2009 (LBO) – Sri Lankan shares closed up Monday due to heavy price gains on index heavy counters Distilleries Company and Commercial Bank pushed market up, while first ever close-ended fund makes positive debut, brokers said. The All Share Price Index closed up 0.5 percent (15.95 points) to end at 3,131.29, while the […]