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Sri Lanka chambers ask for probe on official statistics
Jan 07, 2014 (LBO) – Sri Lanka’s key business chambers have called for a probe on official statistics following reports on how an official was allegedly asked to boost gross domestic numbers in a court filing. “If such doubts were to persist, it would lead to a lack of credibility on a range of published […]
Sri Lanka 5-year sovereign bond sale opens: report
Jan 06, 2014 (LBO) – Sri Lanka has started selling a 5-year sovereign bond with price guidance set around 6.25 percent, a media report said. Bloomberg newswires said Citigroup, HSBC Standard Chartered and UBS were managing the sale. Sri Lanka is rated B1 by Moody’s B+ by S&P) and BB- by Fitch.
Sri Lanka stocks end 0.4-pct lower
Jan 06, 2014 (LBO) – Sri Lanka stocks close down 0.48 percent Monday with diversified stocks losing ground amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 28.81 points lower at 5,944.99, down 0.48 percent. The S&P SL20 closed 12.45 points lower at 3,282.37, down 0.38 percent. Turnover was 462.20 […]
US sends envoy to Sri Lanka to discuss war crimes claims
COLOMBO, January 5, 2014 (AFP) – A top US envoy will travel to Sri Lanka on Monday to discuss allegations of war crimes ahead of a UN review of Colombo’s human rights record, officials said.US Ambassador for Global Criminal Justice Stephen Rapp will spend five days in Sri Lanka discussing rights and reconciliation following the […]
Sri Lanka inflation 4.8-pct by citizen index
Jan 05, 2014 (LBO) – Sri Lanka’s inflation measured by a private consumer price index rose 4.8 percent in the 12 months of 2013 in line with the 4.7 percent measured by the state statistics office. In Feb 2012, the rupee was floated, allowing the peg to fall to around 118 to the US dollar […]
Ton-up Mathews helps Sri Lanka foil Pakistan
ABU DHABI, January 3, 2014 (AFP) – Sri Lankan captain Angelo Mathews hit a pugnacious hundred to pull Sri Lanka out of trouble on the fourth day of the first Test against Pakistan in Abu Dhabi on Friday.Mathews notched up 116 not out under pressure for his second Test hundred and put on invaluable 138-run […]
Sri Lanka expects 7.8-pct growth and 5.0-pct inflation in 2014
Jan 03, 2014 (LBO) – Sri Lanka is expected to grow 7.8 percent in 2014 as business activities pick up with inflation targeted at 5.0-pct, Central Bank Governor Nivard Cabraal said.Sri Lanka has a pegged exchange rate, loosely anchored to the US dollar and money printed by the Central Bank through domestic asset acquisitions tends […]
Sri Lanka stocks close up 0.9-pct
Jan 02, 2014 (LBO) – Sri Lanka stocks end on a strong note Thursday with index heavy and diversified firms gaining despite net foreign selling, brokers said. DFCC closed 4.20 rupees higher at 133.20 rupees and Ceylinco Insurance closed 5.00 rupees higher at 1,345.00 rupees. HNB closed 1.00 rupee higher at 148.00 rupees. The Colombo […]
Financial Consolidation
Jan 02, 2014 (LBO) – Sri Lanka’s finance companies will be encouraged to merge with each other and banks and outside investors will be invited in a bid to strengthen capital deficient ones, Central Bank Governor Nivard Cabraal said. The regulator would like to see 58 non-bank financial institutions consolidated into 20 larger ones, he […]
Mergers
Jan 02, 2014 (LBO) – Sri Lanka’s Central Bank is expecting two development banks and smaller state banks to be merged, Governor Nivard Cabraal said.National Savings Bank, another state bank will have to broaden their services, he said. New foreign banks setting up in Sri Lanka will also have to be locally incorporated. At the […]
Liberty
Jan 02, 2014 (LBO) – Sri Lanka has lifted a 100 percent cash margin requirement to import cars with immediate effect, as the exchange rate came under appreciating pressure, and the monetary authority held it down.The Central Bank said the restriction imposed on August 30, 2013 has been removed. The monetary authority has been buying […]
Ton-up Younis, Misbah give Pakistan control
ABU DHABI, January 1, 2014 (AFP) – Exepreienced batsmen Younis Khan and Misbah-ul Haq hit sparkling hundreds as Pakistan took command of the first Test in Abu Dhabi on Wednesday.Shehzad also miscued a hook shot and was caught at forward square-leg by Dimuth Karunaratne after hitting three boundaries. But after those two wickets, Misbah and […]