Category: Economy and Markets
PTL Watch: Sri Lanka bond yields dip further 5-10 bp
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Dialog Axiata names Supun Weerasinghe in CEO succession plan
July 13, 2016 (LBO) – Telecommunications blue chip Dialog Axiata PLC, in a release to the Colombo Stock Exchange, said company has commenced preparation for the succession of its Group Chief Executive at year end 2016. “The announcement of succession follows Dr Hans Wijayasuriya, the Group Chief Executive of Dialog, taking on additional regional responsibilities […]
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 […]
PTL Watch: Sri Lanka bond yields dip after sovereign issue
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S&”’
July 12, 2016 (LBO) – S&P Global Ratings has assigned its ‘B+’ long-term issue rating to the global bond issued by Sri Lanka (B+/Negative/B). The senior unsecured bond constitutes direct, unconditional, unsubordinated, and unsecured general obligations of the issuer, and payments will be backed by the full faith and credit of Sri Lanka. The dual tranche […]
‘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 […]
PTL Watch: Yields ease ahead of sovereign bond issue
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VAT increase will apply after Parliament approval: Prime Minister
July 11, 2016 (LBO) – The Supreme Court’s interim order issued today suspending VAT increase is not expected to have any adverse impact on the government’s revenue collection, Prime Minister said. Releasing a statement Prime Minister Ranil Wickramasinghe said the VAT (Amendment) Bill has already been presented to the Parliament for the first reading on […]
”s global bond offering
July 11, 2016 (LBO) – Moody’s Investors Service has assigned a provisional rating of (P)B1 to Sri Lanka’s announced US-dollar denominated bond offering. The Government of Sri Lanka’s issuer rating is B1, with a negative outlook. Moody’s said it expects to remove the provisional status of the rating upon the closing of the proposed issuance and a […]
‘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 […]
Supreme Court issues interim order suspending VAT increase
July 11, 2016 (LBO) – Sri Lanka’s Supreme Court has issued an interim order to suspend the Value Added Tax (VAT) increase. The order was issued after considering a petition to revoke the decision filed by an attorney representing three persons including National Freedom Front leader Wimal Weerawansa, media reports said. The petition also argued […]