Category: Economy and Markets
Next IMF tranche by June, reserves comfortable by year end: Ravi
Apr 27, 2017 (LBO) – Sri Lanka’s Finance Minister said he was optimistic about talks on reaching a staff level agreement with the International Monetary Fund for the next phase, and that the next tranche would be released by June. “I think the tranche that was due April will come by June, there were some technical difficulties like […]
Higher growth for Sri Lanka will depend on addressing structural issues: CB
Apr 27, 2017 (LBO) – Sri Lanka’s economic performance in 2016 reconfirmed the necessity of addressing deep rooted structural issues, in order to enable the country to progress towards a higher growth trajectory, the Central Bank said. “Along with strengthening macroeconomic fundamentals through improved fiscal performance and the conduct of monetary policy in a forward […]
Sri Lanka to double Development Bond limit to raise liquidity
Apr 26, 2017 (LBO) – Sri Lanka’s Finance Ministry is to increase the limit of issuing Sri Lanka Development Bonds (SLDBs) from 1,500 million US dollars to 3,000 million dollars including development bonds due to expire this year. Cabinet approval has also been granted to this proposal considering the low liquidity situation and interest rates […]
Petroleum union negotiations successful, strike called off
Apr 25, 2017 (LBO) – The Ceylon Petroleum Corporation (CPC) unions called off their strike late on Monday following successful discussions with Sri Lanka’s Prime Minister and Petroleum Minister Chandima Weerakkody. Employees of the Ceylon Petroleum Cooperation launched a strike from midnight Sunday opposing an agreement to be signed with India regarding developing the Trincomalee […]
WB and IMF to send team for solid waste management
Apr 24, 2017 (LBO) – World Bank and the International Monetary Fund have agreed to send a special team to the island to inspect solid waste management, the finance ministry said in a statement. The comments were made to Finance Minister Ravi Karunanayake during the G24 Finance Ministers’ meeting where the current economic performance of […]
Sri Lanka stocks get Rs14.3 bln foreign inflow, ASPI +4.9 pct in 2017
Apr 24, 2017 (LBO) – The Colombo Stock Exchange (CSE) in recent weeks has seen interest among foreign institutional investors, with the ASPI rallying 4.9 percent so far this year on foreign inflows of 14.3 billion rupees. The Benchmark ASPI recorded consistent gains in April crossing the 6,500 mark on Thursday. The S&P SL 20 […]
Fairway Waste Management says processing facility on schedule
Apr 24, 2017 (LBO) – Fairway Waste Management said its solid waste processing facility, being built in Colombo, was an important step taken recently to tackle Colombo’s solid waste problem. “In the aftermath of the recent unfortunate incident in Meethotamulla, the ‘Waste Free-Clean City’ project in Karadiyana, which has been awarded to Fairway Waste Management […]
Shangri-La opens luxury paradise apartments for viewing
(PRESS RELEASE) – Colombo’s once static skyline is now in the midst of a vast transformational process and at the forefront of this immense development is Shangri-La, Asia Pacific’s leading luxury hotel, resort and residential group, with its very first mixed development project, One Galle Face. A rendition of the luxury apartment, the ‘New Show […]
COPE should inquire transactions of Templeton fund in Sri Lanka: Harsha
Mar 09, 2017 (LBO) – Sri Lanka’s Committee On Public Enterprises (COPE) should investigate the transactions carried out between the US-based Franklin Templeton Fund and Central Bank in the past, Deputy Foreign Minister Harsha de Silva said. De Silva confirmed to reporters Wednesday that close to 500 million US dollars have been taken out from […]
Indonesia, Sri Lanka to strengthen trade and economic ties
Mar 09, 2017 (LBO) Sri lanka’s President Maithripala Sirisena, who is on a state visit to Indonesia, met with President Joko Widodo Wednesday with a proposal for a free trade agreement between the two countries among the topics discussed. The meeting between the two leaders commenced following a cordial discussion, a statement from the Sri […]
PTL Watch: Sri Lanka T-bill yields higher at auction
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S&” rating on Sri Lanka
Mar 08, 2017 (LBO) – Standard and Poor global ratings affirmed its ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka while keeping a ‘negative’ outlook unchanged, a statement said. “High external debt, and low reserves continue to make Sri Lanka vulnerable to external shocks. Other rating constraints on Sri Lanka include the […]