Category: Economy
World Bank pledges USD55mn loan to develop Jaffna
July 21, 2016 (LBO) – The World Bank on Wednesday pledged a 55 million US dollars loan to improve urban services, preserve cultural and environment assets, and improve livability in Jaffna. The credit agreement for the project was signed by Treasury Secretary, Dr. R.H.S. Samarathunga and World Bank Country Director Françoise Clottes. The credit will […]
Sri Lanka’s Port City to apply its own economic, commercial laws: PM
July 18, 2016 (LBO) – The proposed Financial City better known as the Port City will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations, Prime Minister said. Delivering the keynote address at the third South Asian Diaspora Convention, Prime Minister Ranil Wickremesinghe said […]
‘ Index shows manufacturing upswing in June
July 18, 2016 (LBO) – Sri Lanka’s manufacturing sector showed an upswing in June, after a slowdown in the previous two months, based on the Purchasing Managers’ Index (PMI) released by the Central Bank. “The Manufacturing PMI recovered to the positive territory in June 2016 registering 55.1 index points, from the contraction observed in the […]
‘s leadership at South Asia Convention
July 15, 2016 (LBO) – Prime Minister Ranil Wickremesinghe is scheduled to have bilateral discussions with Singapore’s president and premier during his three-day official visit to Singapore. Wickremesinghe will leave the country on Sunday principally to deliver the keynote address at the third South Asian Diaspora Convention which will be held in Singapore starting Monday. […]
Chinese business delegation to visit for B2B meetings
July 15, 2016 (LBO) – A 16-member business delegation from China will be visiting Sri Lanka on the 29th July, 2016, in a visit organised by the Beijing Lansing Century Exhibition Company in association with Lanka Exhibition & Conference Services. The visit coincides with the Construction Expo 2016 to be held in Colombo. The Ceylon […]
Korea pledges USD300mn development loans to Sri Lanka till 2018
July 14, 2016 (LBO) – A framework arrangement enabling Sri Lanka to obtain soft loans from the government of Korea up to 300 million dollars till 2018 was signed on July 13, 2016, a statement said. “This Framework Arrangement is based on the agreement between the two governments signed in December 1995 concerning Loans from […]
New incentive structure for investments in coming weeks: PM
July 13, 2016 (LBO) – Sri Lanka will unleash a new incentive structure for specific investment sectors coupled with a simplified tax system in the coming weeks, Prime Minister Ranil Wickremesinghe said. Wickremesinghe said the government has already identified specific sectors that generate high employment opportunities to offer new incentives. “I want to encourage both […]
PTL Watch: Sri Lanka bond yields dip further 5-10 bp
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Sri Lanka govt finances on track as per budget: Ravi K
July 13, 2016 (LBO) – Sri Lanka’s government finances this year are on target as estimated in the last budget, Finance Minister Ravi Karunanayake said. “Our revenues are on target as per the last budget. Excise collections are up 40 percent,” Karunanayake told reporters without giving details. Sri Lanka has revised down the 2016 budget […]
‘s sovereign bond orders hit USD5.5 bln, govt raises USD1.5 bln (Updated)
July 12, 2016 (LBO) – The Central Bank of Sri Lanka on behalf of the government successfully raised 500 million dollars through 5.5-year sovereign bonds and one billion dollars through 10-year sovereign bonds The Central Bank said the “successful issuance” was Sri Lanka’s 10th US Dollar bond issuance and the first dual-tranche offering. The Bonds […]
‘s sovereign bond orders top USD4.5 bln: source
HONG KONG/COLOMBO July 11 (Reuters) – Sri Lanka’s first dual-tranche sovereign bond orders exceeded $4.5 billion while the final guidance for both tranches fell at least 25 basis points from the initial guidance, a source close to the deal told Reuters. The source said the final guidance for the 5.5-year tranche was about 5.8 percent […]
‘s BOI signs 46 new Investment agreements in June
Jul 11, 2016 (LBO) – The Board of Investment of Sri Lanka has signed 46 new investment agreements totaling 982 million US dollars, a statement said. The projects cover manufacturing, construction, mixed development, hotel, mini hydro power, trading house, solar power, apparel, research and development and education. Around 8,000 new direct employment opportunities will be created, the […]