Category: Economy and Markets
Dunamis Capital to raise Rs1bn from listed debenture
Nov 09, 2015 (LBO) – Sri Lanka’s diversified investment holding company, Dunamis Capital is to raise 1.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing.The company has decided to issue 10 million debentures at 100 rupees each, subject to the necessary regulatory approvals.The subscription list will be open […]
PTL Watch: Spreads widen with weaker LKR
[pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/11/Copy-of-09th-November-2015.pdf%22]
Infrastructure: Negotiating position crucial in structuring deals, say experts
Nov 09, 2015 (LBO) – Sri Lanka’s government must pay attention to increasing its negotiating strength when seeking commercial borrowing and entering into partnerships with the private sector, financing experts said. This process involves announcing long-term plans, with properly structured projects in the pipeline, and building institutional capacity to structure deals, they said. “As a […]
CCC welcomes PM’s new economic policy statement
Nov 09, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) has welcomed Prime Minister Ranil Wickremesinghe’s statement in Parliament recently which provided important economic policy direction, a statement said. “The private sector was seeking clarity on the government’s economic policy agenda, and this statement has provided that.” Large and persistent budget deficits have […]
Tea Board to purchase auction tea until price stabilized
Nov 06, 2015 (LBO) – Sri Lanka’s Tea Board will purchase quality tea from the tea auction for the price of 430 rupees per kilogram until the price reaches the limit of 450 rupees. “We are putting one billion rupees to the tea market,” Rajitha Senaratne, Cabinet Spokesman said. “Tea prices are controlled by the […]
Govt to introduce liquor labels to control illegal liquor
Nov 06, 2015 (LBO) – Sri Lanka’s government plans to introduce liquor labels to control illegal liquor entering the market.As the government has imposed a larger tax, illegal bottled liquor seem to be entering the market, Cabinet Spokesman Rajitha Senaratne told reporters. “Under these circumstance many customers tend to drink unhealthy liquor,” he said.The proposal […]
Sri Lanka to get USD25.7mn for smallholder tea, rubber revival
Nov 06, 2015 (LBO) – Sri Lanka plans to get 25.7 million dollars of financial assistant from the International Fund for Agricultural Development (IFAD) for the implementation of the smallholder tea and rubber revitalization programme, Cabinet Spokesman Rajith Senaratne said.The programme intends to assist in improving the tea yields in 5,500 hectares in Matara, Galle, […]
PTL Watch: Minimal activity, buying in 15 and 20-year bonds
[pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/11/06th-November-2015-PDF.pdf%22]
Sri Lankan born economist predicts global recession next year
Nov 06, 2015 (LBO) – Sri Lankan-born economist Howard Nicholas on Thursday warned that the world will have to face a recession by next year. Speaking at the 36th National Conference of Chartered Accountants in Colombo Nicholas, who is a senior lecturer of Rotterdam Erasmus University, argued the world is now near the bottom of […]
Sri Lanka need not maintain super gain tax: PM
Nov 06, 2015 (LBO) – Sri Lanka’s much talked about super gain tax imposed by the new administration in its interim budget 2015 need not be maintained, Prime Minister Ranil Wickremesinghe told Parliament on Thursday.“With the intermediate budget guidelines, we imposed a Super Gain Tax. This was based on the fact that the demand for […]
Full text of Economic Policy Statement made by PM in Parliament
Economic Policy Statement made by Prime Minister, Ranil Wickremesinghe in Parliament on 5th November 2015 Hon. Speaker, On the 08th of January, the people of Sri Lanka elected Maithripala Sirisena as the President in pursuit of much needed change. This was confirmed at the Parliamentary Election held in August. Our final goal is to improve […]
PM outlines economic reforms in parliament
Nov 05, 2015 (LBO) – Sri Lanka’s Prime Minister in parliament outlined several measures to be taken by the government. Key points: – Generating of one million job opportunities under third generation of reforms – budget deficit to be reduced to 3.5 percent by 2020 – world economic environment will be tough next year – […]