Author: LBO
Fitch Rating upgrades Hatton National Bank’s rating
Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. A (sri) rating denotes a low expectation of credit […]
Treasury Secretary takes pot shots at Monetary Board’s use of market based instruments
A member of the Monetary Board of Sri Lanka, representing the Treasury has criticized the use of market based monetary policy instruments.Treasury Secretary Dr P B Jayasundera said he had no faith in the efficiency of Sri Lanka’s financial system and said the country was blindly following market based monetary policy instruments. “Despite many financial […]
Sri Lanka’s Central Bank leaves its interest rates steady
Sri Lanka’s Central Bank left its key interest at current levels after hiking it for two consecutive months, as it looks for signs that inflation may ease up. Sri Lanka’s Central Bank left its key interest at current levels after hiking it for two consecutive months, as it looks for signs that inflation may ease […]
Sri Lanka’s Central Bank rejects high bond auction bids
Sri Lanka’s Central Bank rejected bids for eight-year bonds on Tuesday, as the market put in high yields on speculations that interest rates would rise. Sri Lanka’s Central Bank rejected bids for eight-year bonds on Tuesday, as the market put in high yields on speculations that interest rates would rise. Monetary Board member Deva Rodrigo […]
People’s Leasing picks up a new funding line
Sampath Bank bought up Rs. 400 million worth of securitised paper on Wednesday locking up returns up to four years. Sampath Bank bought up Rs. 400 million worth of securitised paper on Wednesday locking up returns up to four years. People’s Leasing Co. (PLC) which issued the lease-backed securities, also picked up a Rs.150 million […]
It’s A Steal
More voices are being raised against the stealthy appropriation of provident funds by the Sri Lanka government, through the use of negative real rates.More voices are being raised against the stealthy appropriation of provident funds by the Sri Lanka government, through the use of negative real rates. “Today we have inflation running at a certain […]
Sri Lanka’s main opposition party launches drive for early elections
DONDRA – Sri Lanka’s main opposition party launched a 10-day march with thousands of supporters to pressure President Chandrika Kumaratunga to call nationwide elections by year-end and revive a Norway-led peace process. DONDRA – Sri Lanka’s main opposition party launched a 10-day march with thousands of supporters to pressure President Chandrika Kumaratunga to call nationwide […]
Sri Lanka’s Tigers demand stepped up security, warn truce at risk
Tamil Tigers Thursday gave the Sri Lankan authorities two weeks to step up security for rebels travelling through government-held areas, warning a Norwegian-brokered truce was at risk.Tamil Tigers Thursday gave the Sri Lankan authorities two weeks to step up security for rebels travelling through government-held areas, warning a Norwegian-brokered truce was at risk. The rebel […]
Oil prices and political stability could crimp Sri Lanka’s economic growth
Soaring oil prices and political instability could put the breaks on Sri Lanka’s economic performance this year, the country’s Central Bank said Thursday.Soaring oil prices and political instability could put the breaks on Sri Lanka’s economic performance this year, the country’s Central Bank said Thursday. “Macro stability as well as political stability would be crucial […]
Don’t politicise tsunami aid, warns Sri Lanka Tamil leader
KILINOCHCHI, Sri Lanka, (AFP) – Tamil Tiger rebels asked Sri Lanka Sunday not to “politicise” tsunami relief, but said working with Colombo to distribute foreign aid could help build confidence among the warring parties.KILINOCHCHI, Sri Lanka, (AFP) – Tamil Tiger rebels asked Sri Lanka Sunday not to “politicise” tsunami relief, but said working with Colombo […]
US asks Sri Lanka’s warring parties to strengthen truce after aid deal
The United States asked Sri Lanka’s government and Tamil Tiger rebels Monday to strengthen a fragile truce between them after they entered into a controversial deal to share aid pledged after the tsunami.The United States asked Sri Lanka’s government and Tamil Tiger rebels Monday to strengthen a fragile truce between them after they entered into […]
UN’s Annan ‘pleased’ with Sri Lanka tsunami deal with rebels
UNITED NATIONS (AFP) – UN Secretary General Kofi Annan has welcomed a tsunami aid-sharing deal between Sri Lanka’s government and Tamil rebels as an “important day” for the island. UNITED NATIONS (AFP) – UN Secretary General Kofi Annan has welcomed a tsunami aid-sharing deal between Sri Lanka’s government and Tamil rebels as an “important day” […]