Category: Economy and Markets
Sri Lanka Treasuries plunge across tenors
May 21, 2008 (LBO) – Sri Lanka Treasuries yields plunged for the third week running with the benchmark 3-month yield falling 41 basis points to 17.14 percent, the government’s debt office said. Corrected 6-month yield The government sold 4.0 billion out of 10.5 billion rupees of maturing bills, the debt office, which is a unit […]
Sri Lankan stocks fall on profit taking, earnings fears
May 16, 2008 (LBO) – Sri Lankan stocks ended lower Friday with investors taking profits, ahead of a four day holiday, amid continuing worries about future corporate earnings, brokers said, as a suicide blast occurred a block away from the stock exchange. A Tamil Tiger suicide bomber rammed a police bus killing nine people and […]
Sri Lanka to re-issue forex bonds in US dollars and euros
May 15, 2008 (LBO) – Sri Lanka has started the process of re-selling a maturing 250 million dollar bond issue targeted at resident investors by calling for agents to market and sell the bond. Sri Lanka is expected to wrap up a 150 million dollar 3-year loan arranged by Standard Chartered Bank this month, with […]
Sri Lanka treasury yields fall across tenors
May 14, 2008 (LBO) – Sri Lanka’s Treasury bill yields tumbled across tenors with the benchmark 3-month yield falling 54 basis points to 17.55 percent, the government’s debt office said. The debt office which is a unit of the country’s central bank said the government sold 6.0 billion rupees worth of bills out of a […]
Sri Lankan stocks fall in thin trading on earnings fears
May 13, 2008 (LBO) – Most Sri Lankan shares lost value Tuesday in thin trading with investors apparently worried that corporate earnings could be hit by high inflation and interest rates, brokers said.The Colombo Stock Exchange All Share Index fell 1.04 percent (27.35 points) to 2,613.89 and the more liquid Milanka Index was down 1.39 […]
Sri Lanka stocks fall in thin trading
May 12, 2008 (LBO) – Sri Lankan shares ended lower Monday in thin trading with Ceylon Theatres and its subsidiary Cargills (Ceylon) accounting for the highest turnover.The Colombo Stock Exchange All Share Index fell 0.36 percent (9.51 points) to 2,631.73 and the more liquid Milanka Index was down 0.66 percent (21.29 points) at 3,203.38 points. […]
Sri Lanka coastal town scores with garbage recycling
May 12, 2008 (LBO) – A town in Sri Lanka’s southern coastal belt has improved its environment and the finances of its local government body through a garbage recycling project, officials said. The cash saved on garbage disposal and money earned through recycling is being used for road improvement by the Weligama urban council. In […]
‘s displaced
May 8, 2008 (AFP) – A United Nations agency Thursday appealed for 36 million dollars to feed thousands of Sri Lankans displaced by fighting between troops and rebels amidst galloping global commodity prices. The World Food Programme (WFP) now feeds more than a million Sri Lankans, of whom 400,000 have been internally displaced. “The World […]
Sri Lanka Treasury bill yields plummet
May 08, 2008 (LBO) – Sri Lanka’s benchmark 3-month Treasury bill yields fell sharply by 42 basis points as the government sold 8.6 billion rupees out of 11.0 billion in maturing bills. At Wednesday’s auction 3-month yields fell to 18.09 percent, 6-month yields fell 35 basis points to 18.61 percent while 12-month bills fell 21 […]
Sri Lanka warned off short-term debt as T-bills opened to foreigners
May 07, 2008 (LBO) – Standard & Poor’s (S&P) has warned of the narrowing maturity of Sri Lanka’s commercial debt just as the country opened its Treasury bill market to foreign investors. “The rising share of external debt, estimated at about 49 percent of total, and within that, the proportion of more expensive and shorter-maturity […]
Sri Lanka highways authority funds drained by overstaffing: official
May 06, 2008 (LBO) – Sri Lanka’s road development bureaucracy is hugely overstaffed and a drain on public funds and unable to effectively maintain the island’s road network, a senior government official says. Sirisena Amarasekera, secretary, ministry of highways and road development, says there are around 10,000 people, including maintenance workers, in highway and road […]
Sri Lanka opens T-bills to foreigners
May 06, 2008 (LBO) – Sri Lanka has allowed foreign investors to buy short term treasury bills from Tuesday, the government’s debt office said, as global credit conditions made buyers wary of long term instruments. Sri Lanka had permitted foreign investors to buy Treasury bonds which have a maturity of one year or more in […]