Category: Economy and Markets
IFC looks to fund Sri Lanka infrastructure, tourism and energy
Jun 13, 2016 (LBO) – The International Finance Corporation, a part of the World Bank group, said they are focusing on financing financially viable projects in Sri Lanka, and highlighted potential areas such as infrastructure, tourism, agribusiness, energy and also finance. “The project IFC gets involved should be viable and also should have a development […]
‘t favor risk assets: Gross
Jun 13, 2016 (LBO) – Bill Gross, who runs the 1.4 billion dollar Janus Global Unconstrained Bond Fund, says the possibility of Brexit is another element that does not favor risk assets. “Risk assets are dependent upon growth, they’re dependent upon — even in the high-yield market — on relative stability and to the extent […]
Asian shares and sterling skid, yen firms
June 13 (Reuters) – Asian shares and sterling skidded in early Asian trade on Monday and the perceived safe-haven yen rose, as investors fretted ahead of this week’s central bank meetings as well as Britain’s June 23 referendum on whether to remain in the European Union. Also adding to the grim U.S. mood, an man […]
Sri Lankan rupee up as exporters, foreign investors convert dollars
June 10 (Reuters) – Sri Lankan rupee forwards edged up on Friday as dollar conversions by foreign investors and exporters surpassed importer demand for the U.S. currency, dealers said. The spot rupee, which was traded actively for a third straight day, also rose, dealers said. Dollar/rupee forwards, known as spot next, were at 145.02/12 per […]
PTL Watch: Volatility returns, some foreign buying
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IMF confirms Sri Lanka has additional Rs1.3 trillion liabilities
June 09, 2016 (LBO) – Sri Lanka’s government has been informed by the International Monetary Fund (IMF) that they have identified 1.3 trillion rupees (8.9 billion dollars) of additional liabilities as at the end of 2015. Prime Minister told Parliament that the fiscal affairs department of the IMF, with the help of treasury officials, recently […]
Sri Lanka to introduce capital gains tax & remove exchange control: PM
June 09, 2016 (LBO) – Sri Lanka’s government will remove exchange control regulations before the end of this year with improved inflows coming into the country, Prime Minister Ranil Wickremesinghe said. Speaking at the debate of the no-confidence motion against Finance Minister, the Premier said the proposal will be implemented with the 2017 budget proposals. […]
PTL Watch: Yields drop after treasury bond auction
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Sri Lanka approves funds for reservoirs and Southern roads
Jun 08, 2016 (LBO) – Sri Lanka’s cabinet has approved several reservoir and road development projects including the lower MalwathuOya reservoir and roads under the Southern transport projects. “The proposed lower MalwathuOya reservoir project will directly benefit people in Anuradhapura, Vavuniya, and Mannar districts and will facilitate 12,425 hectares of land under the Yoda Wewa and […]
Australian miner to drill for mineral samples in Puttalam, Sri Lanka
June 08, 2016 (LBO) – Australian miner Iluka Resources Ltd is expected to drill for mineral samples soon as it negotiates with the government for a mining license for ilmenite in Puttalam, Sri Lanka. “Iluka is currently assessing the development of a mineral sands deposit known as the Puttalam Quarry deposit. The Puttalam Quarry deposit […]
PTL Watch: Sri Lanka bond yields steady, low volumes
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Asian shares at near six week high on oil, Fed expectations
June 8 (Reuters) – Asian shares held near six-week highs on Wednesday, on a brightening outlook in the energy sector and hopes that the U.S. Federal Reserve will not raise interest rates in the coming months after a disappointingly weak U.S. jobs report. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat after hitting […]