Category: Economy and Markets
Derivative Drive
The top level Financial Reforms Committee is looking at ways to promote derivative instruments in Sri Lanka.The committee has appointed debt market specialist Mangala Boyagoda, CEO of Standard Chartered Bank, to look at the legal gaps holding firms back from using derivative instruments.rn rnA derivative is a contract between two parties to buy or sell […]
Legal Hunt
The top level Financial Reforms committee is looking at ways to support derivative laws in Sri Lanka.The committee has appointed top debt market specialist Mangala Boyagoda, Chief Executive of Standard Chartered Bank, to look at the gaps that quote s holding firms back from using derivative instruments.rn rnA derivative is a contract between two parties […]
Donors For Rehab
Government is seeking donor assistance to resettle displaced people in the war-affected regions to establish normalcy and help the peace process.rn rnDespite the risks, bilateral and multilateral donors are also lining up to lend for reconstruction in the North and East provinces.rn rnSome institutions like the World Bank are taking a fresh approach to identify […]
Fund Raising
Lead managers for the governments dollar raising exercise plan to tap the American and Europe markets in about ten days time. Deutsche Bank and UBS Warburg on Tuesday, won the mandate to raise US$ 100 mn through a five-year floating rate note.rn rnThe investment banks have the option of raising a further US$ 100 mn […]
Reaching Out
The World Bank is focusing on community development projects in the north and south to bring immediate benefits of peace at grassroots level, overcoming structural and man made problems.rn rnldblquote It is important for the benefits of peace to start flowing to the north fast, dblquote World Bank Country Director Peter Harrold told Lanka Business […]
Green Debt
UBS Warburg and Deutsche Bank have been picked as joint managers to raise the balance dollar funds for the government.The investment bankers have been asked to raise US$ 100 mn through a floating rate note, with an option to borrow a further US$ 50 mn, Treasury sources said.rn rnTuesdays decision comes after the Treasury earlier […]
Green Parade
The government plans to go on an international roadshow to raise dollar funds for long-term infrastructure projects.rn rnThe lquote Sri Lanka Fund quote , the Board of Investments says will source its initial capital from North America and Europe as well as local insurance and pension funds.rn rnPremier Ranil Wickramasinghe is due to kick off […]
Green Money
Solomon Smith Barney, the investment-banking arm of the Citigroup has secured the mandate to raise US$ 150 mn for the government.The mandate is part of the governments fund raising exercise to raise US$ 350 mn in long-term funds for 2002.rn rnThe five-year syndicated loan will be backed by Nippon Export Investment Insurance Company of Japan, […]
’85
The government is tipped to give the mandate to raise long-term dollar funds within days.Prospective investment bankers have said they could raise the funds within a month of the mandate being given.rn rnThe Central Bank has evaluated some 40 proposals and submitted three names endash Deutsche Bank, UBS Warburg and Solomon Smith Barney with Citibank […]
Are You Spending More?
The Stock market valuation for most companies has doubled.Even the property market has picked up. rn rnIn effect your net worth could have almost doubled over the last year. rn rnNone of this money though has made it in to your bank account.rn rnBut are you spending more than you usually do? Economists call this […]
Green Deals
The government is tipped to give the mandate to raise long-term dollar funds by as early as October 15, senior Central Bank officials said.Prospective investment bankers have said they could raise the funds within a month if the mandate is given by mid-next week.rn rnThe government plans to raise up to US$ 350 mn in […]
Going Bananas
A tissue cultivation project to grow and sell banana chips became the first recipient of a government funded rural revival fund.rn rnSet up under the aegis of the Rural Economy Ministry, the Rural Economy Resuscitation Fund kicked off Thursday with a pledge to empower rural producers.rn rnThe Treasury has infused Rs. 100 mn as seed […]