Category: Economy and Markets
Securities watchdog drafts laws to regulate unquote debt issues
The securities watchdog is drafting new guidelines to regulate unquoted debt paper issued by listed companies, its Director General said Tuesday. The securities watchdog is drafting new guidelines to regulate unquoted debt paper issued by listed companies, its Director General said Tuesday. The move comes after the Securities & Exchange Commission recently mandated quoted companies […]
Sri Lanka July annualized inflation 12.7%
Sri Lanka’s consumer price index rose 12.7 percent in the 12 months to the end of July, accelerating from 11.1 percent rise in June, due to a hike in fuel prices, the Census and Statistics Board said Friday.Sri Lanka’s consumer price index rose 12.7 percent in the 12 months to the end of July, accelerating […]
The race for Presidency in Sri Lanka has begun
The Sri Lanka Freedom Party(SLFP) officially announced Prime Minister Mahinda Rajapaksa as the party’s presidential candidate on Thursday.The Sri Lanka Freedom Party(SLFP) officially announced Prime Minister Mahinda Rajapaksa as the party’s presidential candidate on Thursday. The SLFP also announced that Minister of Tourism and Investment Promotions, Anura Bandaranaike, would be Prime Minister in the case […]
Sri Lanka PM wins party nomination for presidency
Sri Lanka’s ruling party has chosen Prime Minister Mahinda Rajapakse as its candidate for the presidency amid a deepening controversy over when the poll should be held, party sources said Wednesday.Sri Lanka’s ruling party has chosen Prime Minister Mahinda Rajapakse as its candidate for the presidency amid a deepening controversy over when the poll should […]
Chinese currency adjustment hits Sri Lankan consumers
China’s currency adjustment last week will trickle down to Sri Lankan consumers as another unwelcome price increase, say local businesses. China’s currency adjustment last week will trickle down to Sri Lankan consumers as another unwelcome price increase, say local businesses. “After the re-valuation of the yuan, the prices of Chinese exports increased by 12 percent,” […]
IMF raps Sri Lanka on fiscal transparency
The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday.The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday. While there has been some progress, […]
‘s balance of payments a boost
The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s balance of payments into the black for the first six months of this year, the Central Bank said Monday. The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s […]
‘s Rs. 1 bn debenture gets BBB+ (sri) rating
Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. The bank is issuing unsecured subordinated debt to meet beef up its capital. […]
Tsunami aid gives Sri Lanka’s balance of payments a boost
The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s balance of payments into the black for the first six months of this year, the Central Bank said Monday. The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s […]
‘s rating
Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. A (sri) rating denotes a low expectation of credit […]
‘s use of market based instruments
A member of the Monetary Board of Sri Lanka, representing the Treasury has criticized the use of market based monetary policy instruments.Treasury Secretary Dr P B Jayasundera said he had no faith in the efficiency of Sri Lanka’s financial system and said the country was blindly following market based monetary policy instruments. “Despite many financial […]
China revalues yuan; repegs to basket of currencies
China Thursday revalued its currency for the first time in about a decade, scrapping the peg to the dollar in favour of a basket of currencies.China Thursday revalued its currency for the first time in about a decade, scrapping the peg to the dollar in favour of a basket of currencies. The currency is now […]