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Sri Lanka’s Central Bank to sell USD250mn development bonds
June 17, 2016 (LBO) – The Central Bank will issue 250 million US dollars development bonds with a tenor of 1 year and 7 months, 2 years and 7 months and 4 years to local and foreign investors. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for […]
Sri Lankan rupee 1-wk forwards trade steady amid cbank moral suasion
June 17 (Reuters) – Sri Lankan rupee one-week forwards traded steady on Friday, but dealers said the local currency was under pressure due to lack of exporter dollar conversions and moral suasion by the central bank, which is holding the currency at current levels. One-week dollar/rupee forwards, which have been acting as a proxy for […]
EU lifts fishing ban, unofficial talks to finalize GSP+ application: PM
June 17, 2016 (LBO) – Sri Lanka has been removed from the list of third countries (countries outside the EU) not cooperating in the fight against illegal, unreported and unregulated fishing. The Council of the European Union adopted amendments to implementing decision 2014/170/EU establishing a list of non EU countries not cooperating in the fight […]
Sri Lanka port city becomes financial city, new deal by August: PM
June 17, 2016 (LBO) – Sri Lanka’s port city construction will be converted to a financial city with a new agreement which is expected to be signed by August with the China Harbour Engineering Company, the Premier said. Officially announcing the lifting of EU fishing ban, Prime Minister Ranil Wickremesinghe said the port city land […]
PTL Watch: Bond yields mixed, net foreign buying
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BOE keeps benchmark rates, warns over Brexit
June 17, 2016 (LBO) – The Bank of England (BOE) left its benchmark bank rate unchanged at 0.50 percent and warned about the risks to growth and inflation from a decision to leave the European Union. The Bank has set the monetary policy to meet the 2 percent inflation target that helps to sustain growth […]
Meeting IMF criteria key to improve ratings: Fitch Ratings
June 17, 2016 (LBO) – Sri Lanka still needs to refinance close to 3 billion US dollars for the rest of 2016 and remains vulnerable to shifts in investor sentiment, Fitch Ratings said. Delivering a presentation at a forum, Associate Director of Fitch APAC Sovereigns Sagarika Chandra emphasized that progress on IMF program criteria will […]
Shooting of British MP halts Brexit debate
June 17, 2016 (LBO) – The fatal shooting on Thursday of a British Member of Parliament, Jo Cox, an advocate for the U.K. to remain in the European Union, has temporarily silenced the debate over membership in the EU. All campaigning in the referendum was suspended after the first killing of a British member of […]
UNDP and Min of National Dialogue Partner to Promote Social Inclusion and Integration
Second Language Laboratory Declared Open in Agalawatte A new language laboratory was ceremonially opened by the Hon. Minister of National Co-Existence, Dialogue and Official Languages, Hon. Mano Ganesan together with United Nations Development Programme (UNDP) at the National Institute of Language Education and Training (NILET) in Agalawatte yesterday. The opening of this second laboratory is […]
Sri Lanka’s listed Shalimar and Indo Malay to sell two estates
June 16, 2016 (LBO) – Sri Lanka’s listed Shalimar and Indo Malay have entered into a deal to sell two estates to a Malaysian company subject to certain conditions. Following the shareholder approval obtained at the EGM held last month, the directors have executed a sale and purchase agreement with Euro-Asia Brand Holding Company, a […]