Category: Economy and Markets
‘s Jan-June trade deficit widens sharply on oil
August 4, 2006 (LBO) – Sri Lanka’s trade deficit expanded 48.0 percent to 1,793 million dollars for the six months to June, compared with the same period 2005, the central bank said Friday, as the island spent more to import fuel. From January-June, the island imported 4,955 million dollars worth of goods, up 20.3 percent […]
Singer (Sri Lanka) Ltd takes up an extra Rs. 200 mn in debt
August 4, 2006 (LBO) – Singer (Sri Lanka) Ltd has opted to accept up to 800 million rupees in debt after its initial 600 million rupee debenture issue was oversubscribed. Fitch Ratings Lanka, which gave the initial four-year issue a A+(lka) rating said Friday that they were extending the same scale to the extra 200 […]
Sri Lanka’s Jan-June trade deficit widens sharply on oil
August 4, 2006 (LBO) – Sri Lanka’s trade deficit expanded 48.0 percent to 1,793 million dollars for the six months to June, compared with the same period 2005, the central bank said Friday, as the island spent more to import fuel. From January-June, the island imported 4,955 million dollars worth of goods, up 20.3 percent […]
Merchant Bank of Sri Lanka picks up AA3 rating
August 2, 2006 (LBO) – Merchant Bank of Sri Lanka Wednesday picked up an AA3 rating from Lanka Rating Agency for their long-term senior debt, the agency said.MBSLs liquidity position had also improved significantly during the year whilst its gearing ratio had been maintained at 1.25 times its shareholders’ funds. The agency, which gave the […]
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August 01, 2006 (LBO) – Fitch Ratings Lanka Tuesday assigned a ‘BBB (lka)’ to Merchant Credit of Sri Lanka for their long-term debt and said the company should pump in more money to beef up their capital base.With 2.2 billion rupees in assets as at December ’05, Merchant Credit’s ownership is split between Bank of […]
‘s consumer prices ease in July to 14.7%
July 31, 2006 (LBO) – Sri Lanka’s consumer prices for July eased marginally to 14.7 percent, the Census & Statistics Department said Monday, as a drop in vegetable prices helped offset hikes in rice, bread and jam. Prices of sugar, garlic, tamarind, red onions, eggs, coconuts and most varieties of vegetables, helped inflation ease up […]
Sri Lanka’s consumer prices ease in July to 14.7%
July 31, 2006 (LBO) – Sri Lanka’s consumer prices for July eased marginally to 14.7 percent, the Census & Statistics Department said Monday, as a drop in vegetable prices helped offset hikes in rice, bread and jam. Prices of sugar, garlic, tamarind, red onions, eggs, coconuts and most varieties of vegetables, helped inflation ease up […]
Sri Lanka to hold aid parley in Dec; asks donors to fund mega projects
July 28, 2006 (LBO) – Sri Lanka is asking donors to concentrate on helping to build mega infrastructure projects, when the annual aid parley meets in December, treasury secretary P B Jayasundara said. The government wants lenders to channel more money to build roads instead of issuing warning signals about a faltering peace process and […]
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July 26, 2006 (LBO) – Fitch Ratings said Wednesday it has upgraded Sri Lanka’s Nations Trust Bank’s long-term debt to A(lka) with its outlook on the rating to “stable”. The ratings agency said the revision mainly reflects NTBs stronger financial profile, equity infusion post merger with Mercantile Leasing Ltd (MLL) and an expanded asset base. […]
‘s Leasing securitsed notes to A+(lka)
July 26, 2006 (LBO) – Fitch Ratings Lanka Wednesday has upgraded the Lease Backed Trust Certificates issued by People’s Leasing Trust Nine to ‘A+(lka)’ from ‘A(lka)’. People’s Leasing trust nine, is a special purpose vehicle created by People’s Leasing Company of Sri Lanka (PLC) for the sole purpose of this transaction. The rating action says […]
Sri Lanka urges nationals in Lebanon to stay put
July 25, 2006 (AFP) – Sri Lanka, which has the largest contingent of expatriate workers in Lebanon, wants those trapped in the conflict to stay put and those who have fled the bombings to return, a minister said Tuesday. “We are not encouraging them to come back. In fact, we want them to go back […]
Sri Lanka Central Bank ups rates; more hikes likely
July 24, 2006 (Dow Jones)–The Central Bank of Sri Lanka raised the repurchase rate and the reverse repo rate by 12.5 points each over the weekend, the second consecutive hike this year, pushing both rates up to a three-year high in a bid to fight inflationary pressures and support the rupee. But analysts say the […]