BRIEF-Houlihan Lokey expands into intellectual property advisory services with acquisition of Black Stone IP
* Houlihan Lokey expands into intellectual property advisory services with acquisition of Black Stone IP
COLOMBO, Sept 30 The Sri Lankan rupee ended slightly firmer on Friday, after four straight sessions of losses, as tight rupee liquidity triggered dollar sales by some banks, dealers said.
The spot rupee closed at 146.85/95 per dollar, compared with Thursday's close of 146.90/147.00. The rupee fell 0.65 percent this week.
"A few banks sold dollars due to tight rupee liquidity following yesterday's bond auction," a currency dealer said asking not to be named.
Sri Lanka's central bank said it accepted 55 billion rupees ($374.58 million) at 8.50 percent at its reverse repo auction held on Friday, through which it absorbs liquidity from the banking system.
The central bank's decision on Wednesday to hold key monetary policy rates steady suggested that policy makers were keen to support a slowing economy even as they kept a tight leash on rampant credit growth, analysts said.
After the rate decision, treasury bill yields dipped between 16 and 33 basis points.
The central bank is under pressure from the International Monetary Fund (IMF) to continue rebuilding international reserves and maintain exchange rate flexibility to develop the foreign exchange market further. (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Amrutha Gayathri)
(The following statement was released by the rating agency) NEW YORK, January 18 (Fitch) Fitch Ratings launches its Ratings Navigator for Non-Bank Financial Institutions (NBFIs) - a visual overview of all the factors affecting an NBFI's standalone rating, their relative importance and likely direction of movement. "Ratings Navigator is a transparent look at our analytical approach for NBFIs that presents the relative importance of each rating factor in determining the final NBFI ratings an
NAIROBI, Jan 18 Privately-owned Nakumatt, Kenya's biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said on Wednesday.