Category: Economy and Markets
‘s borrowing costs rise
June 21, 2006 (LBO) – Sri Lanka’s borrowing costs went up during Wednesday’s treasury bill auction, as the Central Bank bought a further 3-billion rupees worth of paper for its stock of government securities.The bank offered 7.799 billion rupees worth of bills which came up for maturity, but accepted only 2.375 billion rupees from the […]
Sri Lanka’s borrowing costs rise
June 21, 2006 (LBO) – Sri Lanka’s borrowing costs went up during Wednesday’s treasury bill auction, as the Central Bank bought a further 3-billion rupees worth of paper for its stock of government securities.The bank offered 7.799 billion rupees worth of bills which came up for maturity, but accepted only 2.375 billion rupees from the […]
‘s city development agency to issue a billion rupees in bonds
June 21, 2006 (LBO) – Sri Lanka’s Urban Development Authority (UDA) plans to raise a billion rupees in bonds to finance an office development project, top officials said Wednesday.The UDA will appoint a banking partner within the next two months, Jayaweera said, with an issue date to be fixed, perhaps for later this year.“We are […]
Sri Lanka policy turns more hawkish
June 20, 2006 (Dow Jones)–Sri Lanka’s central bank signaled a more hawkish stance when it increased its policy rates sooner than expected last week.Although a return to a tightening had been anticipated, Friday’s surprise 25-basis-point increase each in the repurchase and reverse repo rates highlighted the authorities’ growing concerns over rising inflation. “This month’s increase […]
Sri Lanka hikes interest rates by 25 basis points to curb inflation
June 16, 2006 (LBO) – Sri Lanka’s Central Bank unexpectedly raised key interest rates by 25 basis points after a five month lag Friday, in a bid to curb inflation amidst soaring global oil prices.The next regular statement on monetary policy is scheduled for Friday July 14. Please click here to read Central Bank’s monetary […]
Sri Lanka reports US$ 400 million lower foreign exchange reserves in May
June 16,2006 (LBO) Sri Lanka’s official reserves fell to 3.4 months of imports, as the central bank spent almost 100 million dollars defending the currency in May, the latest data released by the country’s Central Bank showed. In the June monetary policy statement released Friday, Central Bank said gross official reserves stood at 2.6 billion […]
Sri Lanka 1Q06 GDP over 7%
June 16, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy has expanded in excess of seven percent during the first quarter of this year, a senior government official said. “Economic growth has been very steady, growing at just over 7-percent for the first quarter of this year,” Secretary to the Policy Planning Ministry, Nivard Cabraal […]
‘s Central Bank likely to freeze main interest rates
June 12, 2006 (LBO) — Sri Lanka’s central bank is likely to keep its benchmark interest rates unchanged for the sixth month in a row, preferring a wait-and-see policy over the economy amid deteriorating security situation and a gradual rise in inflation. “There is at the present time no room for a Norwegian initiative in […]
Sri Lanka’s Central Bank likely to freeze main interest rates
June 12, 2006 (LBO) — Sri Lanka’s central bank is likely to keep its benchmark interest rates unchanged for the sixth month in a row, preferring a wait-and-see policy over the economy amid deteriorating security situation and a gradual rise in inflation. “There is at the present time no room for a Norwegian initiative in […]
‘s electronic bonds off to a flying start
June 8, 2006 (LBO) – Sri Lanka’s new electronic platform which trades government bonds has generated 7.1 billion rupees worth of trades since its soft launch on May 24, officials said Thursday.Bloomberg, a financial market specialist who developed the software says, the trading system ensures transparency and brings in price discovery when government securities are […]
”; asks to beef up capital
June 6, 2006 (LBO) – Sri Lanka’s Ceylease Financial Services – a unit of Bank of Ceylon – needs to pump up its capital to support their low income base and future provisional charges, Fitch Ratings Lanka warned Tuesday. Fitch, which assigned a ‘BBB-(lka)’ rating to Ceylease, says the credit rating reflects the firm’s parental […]
Sri Lankan rupee weakens, while stocks perk despite heavy foreign selling
June 2, 2006 (LBO) – Sri Lankan stocks closed the week on a high note, while the rupee dipped further against the dollar, as financial markets reacted sharply to news of the Central Bank governor’s sudden resignation.Colombo share prices rose 1.79 percent on a 12.9 percent rise in fuel retailer Lanka IOC, but heavy foreign […]