Category: Economy and Markets
An investor to park USD1 bln in dollar deposits, says Finance Minister
Jan 12, 2016 (LBO) – An investor has promised to park 1 billion dollars in dollar deposits in Sri Lanka to help the island nation defend its currency, according to a media report quoting the finance minister. The investor was Belgian and was working with a Sri Lankan partner, Finance Minister Ravi Karunanayake told Reuters. […]
PTL Watch: Bond yields drop as volatility returns
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SEC advises TKS Securities over possible violation of rules
Jan 11, 2016 (LBO) – Sri Lanka’s securities watchdog has advised TKS Securities, a registered stockbroker, that their agent has made representations to the public as an investment advisor. The Securities and Exchange Commission said they are aware that an Agent of TKS Securities is carrying on business under a name of ‘Investor Eye’ or […]
Sri Lanka foreign reserves at USD7.3 bln end Dec
Jan 11, 2016 (LBO) – Sri Lanka’s official foreign reserves was slightly higher at 7.29 billion dollars at the end of December, up from 7.28 billion dollars at the end of November, figures released by the Central Bank shows. This figure is down from 8.21 billion dollars in foreign reserves at the end of 2014. […]
Sri Lanka’s Central Bank to sell USD 75mn worth development bonds
Jan 08, 2016 (LBO) – The Central Bank will issue 75 million US dollars of development bonds of one year, two years and three months, and four years and five months to local and foreign investors. The Debt Department said the subscription will be at a floating rate of US dollar six month LIBOR plus […]
Sri Lanka stocks close down 0.7-pct
Jan 07, 2016 (LBO) – Sri Lankan stocks closed down at 0.72 percent for a fifth consecutive day with continued losses in the banking and some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed lower at 48.99 points at 6,726.28 down 0.72 percent. S&P SL20 closed 32.04 points down at […]
Norway pledges support for recently resettled communities in Sri Lanka
Jan 08, 2016, (LBO) – The Government of Norway and UNDP Sri Lanka are partnering to improve access to justice and livelihood opportunities of the recently resettled communities in the Jaffna District, a statement said. Country Director of the United Nations Development Programme [UNDP] in Sri Lanka, Joern Soerensen and Ambassador of Norway to Sri […]
PTL Watch: Yields tick up, buying in the 2041 bond
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Sri Lanka can’t continue as low income country: PM
Jan 08, 2015 (LBO) – Sri Lanka should take note of global economic conditions and its own shortcomings which will enable the island to become a high income nation in the region, Prime Minister Ranil Wickramasinghe said. “Sri Lanka has a unique chance to go on a unique journey after the end of a decade’s […]
Stiglitz outlines carbon, inelastic, land, congestion taxes at economic forum
Jan 08, 2016 (LBO) – Renowned economist Joseph Stiglitz, speaking at the Sri Lanka Economic Forum, explained some of the ways the government could raise tax revenue by taxing environmental pollution, inelastic goods, land, consumption and road congestion. “What is the best way to increase tax revenue?” the nobel laureate asked a packed forum of […]
Emerging Asia leverage, capital outflows constrain policy space: Fitch
Jan 08, 2015 (LBO) – Emerging Asia’s private consumption has remained resilient in the face of weaker external demand but investment has slowed down more substantially, particularly in the private sector, Fitch ratings said. The full statement follows Fitch Ratings-Hong Kong-07 January 2016: Fitch Ratings says Emerging Asia’s (EM Asia) private consumption has remained resilient in the […]
Every single day is a lost day, PM declares
Jan 07, 2016 (LBO) – Speaking to a packed house of corporate leaders, government officials, ministers, civil society leaders, diplomats and visiting economists, Sri Lanka’s Prime Minister Ranil Wickremesinghe underscored the need for urgent action to move the nation forward, in response to a question posed by Harvard University’s Professor Ricardo Haussmann. Previously in his […]