Category: Economy and Markets
DEX Next
The Colombo Stock Exchange is going ahead with the launch of its new Debt Trading Board in June with or without access to the primary market for government debt.The exchange, which has been doing mock runs on the new debt trading system the DEX, says a new proposal to sort out an impasse with the […]
Northern Frontier
The Urban Development Authority (UDA) is moving into Jaffna, rolling out plans to develop urban centres in key Northern towns.ldblquote We are giving priority to urban centres in the North, especially Jaffna, Batticaloa, Kalmunai, Valachennai, Chavakachcheri and Kilinochchi as well dblquote , says Director General of the UDA, K Dharmasiri.rn rnThe UDA has already had […]
Building Permit
Traditionally, most of Sri Lanka quote s mega construction projects have been awarded to foreign contractors. But local construction companies say its time the scales are balanced.Mega projects are often those that are foreign funded and value wise, is huge, with an average Rs. 20 bn worth of work in this sector each year.rn rnIt […]
String Sting
A top state official is calling the government to break away from being over dependant on aid agencies. BOI Chairman Arjunna Mahendran pointed out that governments are over dependant on aid and donor assistance from agencies such as the IMF and the World Bank that state agenda is rerouted to facilitate them.rn rnldblquote I feel […]
Disappearing Act
The Central Bank is planning to dematerialise all existing Government Bills and Bonds before a sophisticated system for trading them comes on line in September.The new system will eliminate Bills and Bonds in physical form, instead lodging the security ownership in a computerized Central Depository.rn rnMoves are already underway to dematerialize existing securities by passing […]
Small Bite
The Colombo Stock Exchange is talking to Central Bank to get access to 5 percent of the primary government securities market.If approved, the move would amount to CSE accessing the primary government securities market without being appointed a primary dealer.rn rnldblquote Its a model similar to what is happening in India, dblquote explains Hiran Mendis, […]
Quicksand
A pilot project to mine Sri Lanka’s seabed off the Western coast for offshore sand to sustain a flagging construction industry, has gone up for Treasury approval.Spearheaded by the Coast Conservation Department of the Fisheries Ministry, the initial project cost to the tune of US$ 5 mn, is to be funded by the Dutch Government.rn […]
Home Run
The Urban Development Authoritys (UDA) call to develop five of its properties in the Colombo District, received 140 proposals when the tender closed on Monday. The UDA however has put off the deadline to June 19 to accommodate more interested investors.rn rnUDA officials told Lanka Business Online that the 140 proposals came from 45 firms, […]
Building Schools
Promoting home ownership and job creation, the National Housing Development Authority (NHDA) is rolling out a campaign to disseminate construction skills to individuals.Initially to be tested on a plantation housing project, the campaign will then help construct 300,000 estate homes under the Plantation Housing Programme before being rolled out islandwide.rn rnThe ldblquote Homes For All […]
Losing Interest
The Central Bank on Friday cut key interest rates by 75 basis points on Friday.The bank lowered the Reverse Repurchase Rate to 10.25%, while the Repurchase Rate was cut to 8.25%. The bank last cut rates by 75 basis points on January 7.rn rnThe Reverse Repo-rate is the rate at which Primary Dealers in Treasury […]
Lower Lending
The Central Bank on Friday cut its key short-term discount rates by 75 basis points, in line with its policy of lowering rates.The bank lowered the reverse repurchase (reverse repo) rate to 10.25 percent, while the repurchase rate was cut to 8.25 percent.rn rnThe bank last cut rates by 75 basis points on January 7.rn […]
Heading Up
Treasury Bill yeilds moved up by 64 basis points at the close of this weeks auction.rnrnrnrnrnrnNew Page 1rnrnrnrnrn rn rn rn rn rn rn Amount rn Bids rn Bids rn rn rn Avg rn rn yeild rn rn rn rn offered rn recvd rn accept rn rn This wkrn rn rn Last wkrn […]