Category: Economy and Markets
‘s top 10 FDI hotspots: US think tank
Apr 18, 2016 (LBO) – IHS Global Insight, a United States-based think tank, has listed Sri Lanka as one of the top 10 foreign direct investment (FDI) destinations in Asia. The other Southeast Asian countries projected to be the FDI hot spots in the region, are China, India, Bangladesh, Indonesia, Vietnam, Myanmar, Malaysia, The Philippines and […]
Central Bank sees monetary policy stance as appropriate
Apr 18, 2016 (LBO) – Sri Lanka’s Central Bank, in response to an opinion column, states that its monetary policy stance holding interest rates unchanged on March 29 was appropriate. WA Wijewardena, a former deputy governor, in an article in the Daily FT alleged that the Monetary Board should have tightened monetary policy “based on […]
Sri Lanka to re-impose share transaction levy from 15 April
Apr 12, 2016 (LBO) – Sri Lanka will re-impose the share transaction levy at the rate of 0.3 percent from 15 April, 2016, the Colombo Stock Exchange said. The levy would be charged from every buyer and seller on the turnover of every share trading transaction done on the CSE. The share transaction levy was […]
Sri Lanka economy adjusting, may receive USD1-1.25 bln from IMF: CB
Highlights from press conference: * GDP grew 4.8 pct in 2015, vs 4.9 pct 2014 * Sri Lanka may receive around USD 1-1.25 billion IMF support: Governor * USD500 mln renminbi bonds may be issued in coming months: Governor * Worker remittances fell 0.5 pct to USD6.9 bln in 2015 * Official reserves at USD6.2 […]
PTL Watch: Bond yields tick up on some profit taking
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‘s Hilton gets new board
Apr 12, 2016 (LBO) – Krishantha Cooray has been appointed Chairman and Non Executive Director of Hotel Developers Lanka (Hilton Hotel), a statement said. Following Non-Executive Directors too have been appointed: Athula Senanayake, Tehani S. Mathew, Dinouk Colombage, Sonali Liyanamana, Dhanushka R. Samarasinghe and M.Shezmin Manzoor, according to a filing to the Stock Exchange.
Three member committee to streamline Chinese projects in Sri Lanka
Apr 12, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe has pledged to China to appoint a three-member high powered committee to streamline and expedite Chinese projects and investments in Sri Lanka. Special Assignments Minister Dr. Sarath Amunugama, Development Strategies and International Trade Minister Malik Samarawickrama and Economic Affairs Ministry Consultant R.Paskaralingam will be […]
Sri Lanka makes progress towards IMF facility: IMF mission
Apr 11, 2016 (LBO) – Sri Lanka has made significant progress toward reaching an International Monetary Fund (IMF) support facility, which could get approval within the next two weeks, an IMF review mission said concluding its visit. A staff team led by Todd Schneider visited Colombo during March 31-April 11 to hold 2016 Article IV […]
PTL Watch: Sri Lanka yields volatile, 9-year at 12.10 pct
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Land for Sri Lanka Volkswagen assembly plant secured: BOI
Apr 11, 2016 (LBO) – Sri Lanka’s Board of Investment has helped to secure land for the setting up of a Volkswagen assembly plant, the investment promotion agency said. “Through the successful facilitation by Upul Jayasuriya, chairman of the Board of Investment of Sri Lanka and his officials, working closely with the Ministry of Lands, […]
IMF supports negative policy rates to spur economies
Apr 11, 2016 (LBO) – IMF supports negative policy rates by some central banks given the significant risks to the outlook for growth and inflation, a blog by IMF staffers states. Six central banks, including the European Central Bank and the Bank of Japan, have taken the unprecedented step to spur their economies. “Although the […]
Sri Lanka PM wants equity swap for USD8 bln debt to China
Apr 11, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe has asked China to swap part of the 8 billion dollars it owes the nation into equity in infrastructure projects, and has offered to sell stakes in Sri Lankan companies. Wickremesinghe spoke to reporters in Beijing, China on Saturday, media report said. “We’ve been […]