Category:
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. […]
Magazine Block
July 2, 2013 (AFP) – Sri Lanka has banned the July 1 issue of Time magazine because its cover story on Myanmar’s Buddhist-Muslim clashes could hurt religious sentiment on the island, an official said Tuesday.Customs department spokesman Leslie Gamini said the issue carrying a photo of a prominent Myanmar monk under the headline: “The Face […]
India, Sri Lanka enter tri-nations fray
KINGSTON, July 1, 2013 (AFP) – India and Sri Lanka go in search of their first points of the Tri-Nation Series when they meet on Tuesday at Sabina Park as the preliminary phase of the competition reaches the halfway point.With the West Indies completing contrasting victories over the other two teams and already on their […]
”’s
July 02, 2013 (LBO) – Moody’s Investors Service has cut the outlook on Sri Lanka’s ‘B1’ credit rating to ‘stable’ from ‘positive’ on rising bank foreign debt and continuing budget deficits and high state debt.Related to the debt level was slowing economic growth. After growing 8.1 percent in 2010 and 2011, economic growth had since […]
Sri Lanka budget deficit 3.9-pct of GDP up to April 2013
July 02, 2013 (LBO) – Sri Lanka has posted a budget deficit of 3.9 percent of gross domestic product for the first four months of 2013, against a full year target of 5.8 percent of GDP, finance ministry data showed. State revenues for the first four months was 326.6 billion rupees, up from 313.9 billion […]
Sri Lanka kills some liquidity ahead of cash flood
July 01, 2013 (LBO) – Sri Lanka’s central bank has killed billions of rupees in excess liquidity ahead of a flood of new cash into the interbank money markets from a reserve ratio cut on July 01. Dollar sales by a central bank fails to strengthen an exchange rate and further weakens a currency peg […]
Sri Lanka stocks close up 0.2-pct
July 01, 2013 (LBO) – Sri Lanka’s stocks closed up 0.19 percent on Monday continuing its upward trend with diversified and consumer companies showing gains, brokers said. The benchmark Colombo All Share Index closed 11.74 points higher at 6,132.75 and the S&P SL 20 Index closed 16.00 points higher at 3,447.74 up 0.47 percent. Turnover […]
Cargo Service
July 01, 2013 (LBO) – Sri Lanka’s Hemas group, which has interests in consumer goods, leisure power and logistics said it has started building a container yard and warehouse in Welisara, north of the capital Colombo.It will handle and store empty and laden containers. The firm will also provide warehousing facilities to exporters, mainly aimed […]
White Knight
July 01, 2013 (LBO) – Sri Lanka’s Central Bank said People’s Leasing and Finance Plc, the island’s largest non-bank lender has been appointed managing agent for Central Investments and Finance Plc, which had seen liquidity issues.. “The Managing Agent will be expected to improve the financial status of CIFL within a reasonable period of time, […]
Settlement
July 1, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation had settled a claim over an oil derivative for 60 million US dollars, a media report said.State-run CPC refused to pay on a complex options position which went against it after oil prices collapsed in later 2008 as the US monetary system de-leveraged, amid […]
Sri Lanka to farm Asian sea bass
July 01, 2013 (LBO) – Sri Lanka has approved a 2.5 million US dollar project to farm Barramundi or Asian Sea Bass off the coast of Trincomalee in North Eastern Sri Lanka, the state investment promotion agency said. Oceanpick, a Sri Lankan firm will partner with a Scottish firm to farm the fish in cages, […]
Sri Lanka to count sloth bears
July 01, 2013 (LBO) – Sri Lanka’s wild life conservation authorities and a biodiversity organization, with funding from private business will count and estimate a sloth bear population in a national park in the North West of the island.The chamber said in a statement that the sloth bear sighting have declined in recent years and […]