Category: Economy and Markets
The Millennium Challenge Corporation announces the latest criteria to apply for assistance
The Millennium Challenge Corporation (MCC) announces the latest criteria on how developing countries can apply for assistance from its US bn fund in 2005.The Millennium Challenge Corporation (MCC) announces the latest criteria on how developing countries can apply for assistance from its US bn fund in 2005.In May this year a first batch of 16 […]
Sri Lanka’s traded deficit touched US$ 1.12 billion by June
Sri Lanka’s traded deficit touched US$ 1.12 billion by June, up from US$ 700 a year ago on higher imports of industrial goods and a hot fuel bill.Sri Lanka’s traded deficit touched US$ 1.12 billion by June, up from US$ 700 a year ago on higher imports of industrial goods and a hot fuel bill. […]
Government to borrow over Rs. 52 bn from local market next month
The Central Bank is issuing US$ 55.25 mn development bonds, Rs. 9 bn worth of treasury bonds and rolling over Rs.37,589 mn worth of treasury bills in September.The Central Bank is issuing US$ 55.25 mn development bonds, Rs. 9 bn worth of treasury bonds and rolling over Rs. 37,589 mn worth of treasury bills in […]
Low Fuel
Treasury Secretary Dr. P B Jayasundara appealed to the public and business community to curb fuel consumption, and brace themselves for further oil-led shocks. Treasury Secretary Dr. P B Jayasundara appealed to the public and business community to curb fuel consumption, and brace themselves for further oil-led shocks. Sri Lankan economy is under twin attacks […]
India and Sri Lanka decide to tighten the knot for a closer fit under free trade pact
The latest round of talks on the Indo-Lanka FTA ended in Colombo this week with a promise to come closer together under the textile sector umbrella.The latest round of talks on the Indo-Lanka FTA ended in Colombo this week with a promise to come closer together under the textile sector umbrella. Delegations will meet in […]
Sri Lanka Telecom hires Fitch and Standards &’s for an international rating
Triple A rated Sri Lanka Telecom has signed up for a rating with two top international agencies, Fitch Ratings of USA and Standards & Poor’s as it embarks on an overseas roadshow for its upcoming debt issue next month. Triple A rated Sri Lanka Telecom has signed up for a rating with two top international […]
Treasury Secretary dismisses speculations of exchange control limits, says rupee to stabilise at 102 to the US dollar
Treasury Secretary Dr. P B Jayasundara dismissed market talk of exchange control limits, saying that foreign inflows are on target to stabilise rupee at 102 to the US dollar. Treasury Secretary Dr. P B Jayasundara dismissed market talk of exchange control limits, saying that foreign inflows are on target to stabilise rupee at 102 to […]
Contrary to speculations, the government says foreign aid flows are on track with Sri Lanka receiving around US$ 165 mn so far this year.
Contrary to speculations, the government says foreign aid flows are on track with Sri Lanka receiving around US$ 165 mn so far this year.Contrary to speculations, the government says foreign aid flows are on track with Sri Lanka receiving around US$ 165 mn so far this year. The bulk of the funds have come from […]
Central Bank warns price adjustments are inevitable to keep budget on track
The Central Bank opted not to tinker with its short-term rates, but warned that holding back fuel price adjustments makes it difficult to balance the budget on an even keel. The Central Bank opted not to tinker with its short-term rates, but warned that holding back fuel price adjustments makes it difficult to balance the […]
The US embassy in Sri Lanka reopens next Monday, after a hoax anthrax scare.
The US embassy in Sri Lanka reopens next Monday, after a hoax anthrax scare.The US embassy in Sri Lanka reopens next Monday, after a hoax anthrax scare. The embassy was shut on Tuesday after receiving a letter which contained some unidentified “powder”. Fearing an anthrax-type attack, the embassy shut its air conditioning system, switched off […]
The UNP says that millions of World Bank dollars may be lost if the government doesn’t present its own poverty reduction strategy soon.
The main opposition United National Party says that World Bank funds running into millions of dollars may be lost if the government doesn’t come up with its own poverty reduction strategy soon.The main opposition United National Party says that World Bank funds running into millions of dollars may be lost if the government doesn’t come […]
The Govt. asked the private sector to cough up Rs. 400 mn to rehabilitate 1,000 reservoirs
The United People’s Freedom Alliance wants the private sector to cough up Rs.400 mn to rehabilitate 1,000 reservoirs as part of a programme for rural development.The United People’s Freedom Alliance wants the private sector to cough up Rs. 400 mn to rehabilitate 1,000 reservoirs as part of a programme for rural development. Speaking to a […]