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Sri Lanka stocks down 0.4-pct
July 03, 2013 (LBO) – Sri Lanka’s stocks closed down 0.37 percent on Wednesday following gains of three straight days with losses in the diversified and consumer companies and some banking stocks, brokers said. The benchmark Colombo All Share Index closed 22.82 points higher at 6,117.97 and the S&P SL 20 Index closed 29.51 points […]
Tank Test
July 03, 2013 (LBO) – Sri Lanka’s state-run ports agency said it had begun testing a bunkering tank farm in at its newly built Hambantota port with a cargo of marine gas oil being unloaded.The tank farm has 08 tanks for marine fuel ranging from 3,000 cubic metres (two), 5,000 cubic metres (three) and 10,000 […]
Cricket: Tharanga on Caribbean ODI high for Sri Lanka
KINGSTON, July 2, 2013 (AFP) – Upul Tharanga plundered the highest individual score in a One-Day International in the Caribbean as Sri Lanka amassed 348 for one batting first against India in the third match of the Tri-Nation Series at Sabina Park on Tuesday.India did not help their cause in the field.Jayawardene was missed at […]
Sri Lanka income taxes collections up following lower rates
July 03, 2013 (LBO) – Sri Lanka’s income tax collection have risen sharply in the first few months of the year, despite a slowing economy after rates were brought down as part of tax reforms in 2011, according to a finance ministry report.The finance ministry said it reflected “a favourable consolidation of the impact of […]
China top Sri Lanka top lender up to April 2013, Japan follows
July 03, 2013 (LBO) – China has given 165.28 million US dollars for projects financed in Sri Lanka in the first four month of 2013, though Japan has committed more new funding in the period, official data show. The World Bank has disbursed 95.7 million US dollars (0.84 million in grants) in the period, coming […]
Sri Lanka interim budget data revealed according to law: opposition
July 03, 2013 (LBO) – Sri Lanka’s finance ministry has revealed budget data conforming to a fiscal responsibility law for the first time in years, opposition legislator Harsha de Silva has said. De Silva had also charged that changes to the fiscal responsibility law to allow the central government to increase the limit on guarantees […]
‘s outlook downgrade
July 03, 2013 (LBO) – Sri Lanka’s central bank has disputed a cut in the outlook to stable from positive on the island’s ‘B1’ sovereign rating saying it is “backward looking” and not a proper reflection of the external position and recent improvements in the economy. Moody’s cut the outlook saying external bank borrowings had […]
‘s Hayleys debenture subscribed
July 02, 2013 (LBO) – A debenture offer by Sri Lanka’s Hayleys Plc, a diversified group has been oversubscribed with more than 2.0 billion rupees in applications, the registrars said.Hayleys offered 1.5 billion rupees of debentures and a further 500 million rupees if the first tranche was oversubscribed. The sale is managed by NDB Investment […]
Sri Lanka money market fund by Asset Trust
July 02, 2013 (LBO) – Sri Lanka’s Asset Trust Management (Pvt) Ltd, a fund management company said it has launched a money market mutual fund, which will invest in government and private fixed income securities.Among the people behind the firm is Wickrema Weerasooria, Mangala Boyagoda and Eastman Narangoda. Asset Trust Management is already managing a […]
Sri Lanka stocks close up 0.1-pct
July 02, 2013 (LBO) – Sri Lanka’s stocks closed up 0.13 percent on Tuesday making gains for the third straight day helped by diversified and consumer companies, brokers said. The benchmark Colombo All Share Index closed 08.04 points higher at 6,140.79 and the S&P SL 20 Index closed 14.77 points higher at 3,462.51 up 0.43 […]
Credit Rating
July 02, 2013 (LBO) – Fitch Ratings said it had given Sri Lanka’s National Development Bank a ‘B+’ international rating with a stable outlook. The SR and SRF are sensitive to the sovereign’s ability and propensity to provide timely support, particularly if the sovereign rating were to change. The SRF could be upgraded if NDB’s […]
Cash Levels
July 02, 2013 (LBO) – Sri Lanka’s money markets were flooded with 35 billion rupees in excess cash after a cut in the statutory reserve ratio despite pre-emptive moves by the Central Bank to kill some liquidity.“But often liquidity is generated when the Central Bank buys dollar especially capital inflows to the government,” says fuss-budget. […]