Author: lbostgadmin
PTL Watch: Yield curve drops 17bp, buying in liquid bonds
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£6.6 mln, non-resident defence attaché to help Sri Lanka: David Cameron
The UK Prime Minister held bilateral talks with President Sirisena of Sri Lanka at the Commonwealth Summit in Malta Friday, and announced a significant increase in UK support for reconciliation and human rights, recognizing the considerable progress Sri Lanka has made since it hosted the last Commonwealth Meeting in 2013. The Government will provide £6.6 […]
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On 20 November, Sri Lanka Finance Minister Ravi Karunanayake proposed introducing limitations on pawning loans and consumer finance loans for the country’s commercial banks. The proposal is credit positive for Sri Lankan banks because it will limit their exposure to these higher-risk loans.Two of our rated entities, Bank of Ceylon (BOC, B2/B1 stable, b1) and Hatton National Bank […]
Sri Lanka’s continued high fiscal deficits are credit negative: Moody’s
Nov 30, 2015 (LBO) – Sri Lanka’s fiscal consolidation would further delay if the government increases spending on education, health and infrastructure and add to the government’s already high debt, a credit negative, Moody’s credit out look said. However, if the perception of greater openness to foreign direct investment translates into actual increases in investment, […]
‘s yuan as reserve currency
Nov 30, 2015 (LBO) – The International Monetary Fund may soon label China’s yuan as a reserve currency that could pressure China to reform currency management and improve communication with the rest of the world.The IMF is expected to say that next year it will add the yuan to the basket of currencies that comprise […]
President arrives for historic climate change conference
Nov 30, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena arrived in France on Sunday to attend a world leaders’ conference on climate change, COP 21, a potentially historic meeting that could set limits on greenhouse gas emissions.More than 25,000 official delegates from 190 countries will meet on Monday for the largest conference ever organized […]
“Serious concerns” in Sri Lanka budget 2016: Former President
Nov 30, 2015 (LBO) – Sri Lanka’s former President Mahinda Rajapakse in a recent speech said that the new government’s maiden budget seeks to make certain radical changes which raise serious concerns. Rajapakse said that the gross fiscal irresponsibility displayed in the mini-budget earlier this year has continued in this budget as well and went […]
Sri Lanka’s Megapolis Master plan unveiling in Jan 2016
Nov 30, 2015 (LBO) – Sri Lanka’s government will unveil the ‘Master Plan’ it has developed to build Sri Lanka’s proposed ‘Western Region Megapolis’ during early January 2016, Minister Champika Ranawaka says.“The government is planning to adopt a four pronged strategy to build the ‘Megapolis’ which will be built within three phases running between the […]
Sri Lanka enters into Commonwealth trade finance for small states
Nov 30, 2015 (LBO) – Sri Lanka together with India, Malta and Mauritius have signed a declaration of intent to create a Commonwealth trade finance facility to boost trade and investment flows.The agreement was signed by the foreign ministers of the countries in Malta on November 26th.The voluntary fund hopes to attract start-up capital of […]
Mobitel considers strategic acquisition of local operator
Nov 28, 2015 (LBO) – Mobitel, a fully-owned unit of listed Sri Lanka Telecom, said it is considering a strategic acquisition of a local operator and denies reports that the company intends to pay over and above the value of the target entity. “Mobitel denies the assumptions and opinions made on the subject that Mobitel is […]
Stocks: Three reasons Euro area stocks are compelling
By Steve Brice The volatility in recent months shattered the relative calm that had prevailed in global financial markets for nearly four years. Almost all major equity markets corrected more than 10 per cent during the summer and many emerging markets entered a bear market. October’s rebound came as welcome relief, helping make up most […]
China stocks fall 5.4 pct on brokerage probes
Nov 27, 2015 (LBO) – China equities closed down 5.4 percent on Friday on the back of investigations by China’s securities regulatory body into brokerages for breaking regulations.The Shanghai Composite closed 5.48 percent lower. Chinese brokerages plunged with Citic Securities, Founder Securities, and China Merchants closing 10.1, 10, and 9.98 percent lower on news of […]