Category: Economy and Markets
PTL Watch: Sri Lanka bond yields tick up on profit taking
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Seylan Bank to sell Rs5bn in listed debt
Apr 20, 2016 (LBO) – Seylan Bank will sell up to five billion rupees in listed debt, the bank said in a statement.buy “The Bank’s board has approved to issue three billion rupees of debt with a further option to sell another two 2 billion rupees,” a stock exchange filing said. The debentures will be issued […]
‘s President opposes planned VAT hike
Apr 19, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena, in a public address on Monday, said he would not support tax increases that burden the people. The Value Added Tax (VAT) rate is scheduled to be increased to 15 percent from May 2nd, according to the Finance Ministry, and will include the telecommunications sector. […]
PTL Watch: Foreign investors on buy side for bonds
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‘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 […]