ECONOMYNEXT - Sri Lanka has injected 75 billion rupees through a overnight and 7-day term reverse repo auction to sterilize a liquidity shortage that has cropped up amid pressure on a rupee soft-peg with the US dollar.The central bank injected 30 billion rupees for 7-days through an open market auction, at a weighted average yield of up to 8.17 percent.The central bank has an … [Read more...] about Sri Lanka injects Rs75bn to sterilize cash short
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Evaluating India’s New Neighbourhood Policy
by Duryodhan Nahak Over the last four years, in a host of writings India’s new neighbourhood policy or neighbours first appears to be the dominant theme. Mean-while, India’s neighbourhood policy is essentially a continuity and change since the first Prime Minister, Jawaharlal Nehru, who laid the edifice of Indian foreign policy in the initial years of India’s independence. … [Read more...] about Evaluating India’s New Neighbourhood Policy
Unit of LTL Holdings secures Rs.3bn loan from NDB to build 2 wind power plants in North – Daily Mirror
The agreement was signed by Ceylex Engineering CEO Nisal Perera and NDB CEO Dimantha Seneviratne Ceylex Engineering (Pvt.) Ltd, an associate company of LTL Holdings, has secured a Rs.3 billion loan from National Development Bank PLC (NDB) to develop two 10 MW wind power plants in Chavakachcheri. According to the Ceylex officials, the project, which would conform to the … [Read more...] about Unit of LTL Holdings secures Rs.3bn loan from NDB to build 2 wind power plants in North – Daily Mirror
Ranil resolute to ride over global economic crisis impact on SL
Says currency crisis due to inheritance of debt economy from past regime Urges need to shift towards export economy Explains currency depreciation not unique to Sri Lanka, but happening world over Says Govt. already in discussion on strategies to address the situation Reiterates Govt. will overcome latest crisis like it had resolved past issues Says no cutbacks in Health … [Read more...] about Ranil resolute to ride over global economic crisis impact on SL
Sri Lanka approves Rs50bn in subsidized credit
ECONOMYNEXT - Sri Lanka's state and private banks have approved 49.17 billion rupees of subsidieze credit to 22,957 persons under an Enterprise Sri Lanka branded program where tax payers pay part of the interest, the finance ministry said.There were 16 programs including three financed from foreign lenders. The Asian Development Bank is financing an 8 billion rupee program for … [Read more...] about Sri Lanka approves Rs50bn in subsidized credit
President’s UN plea and misplaced obsession with war crimes – Daily Mirror
President Maithripala Sirisena who will address the UN General Assembly today, had earlier confided to the media bosses that he would, in his UN speech, seek a reprieve of war crimes against the government forces. “I will also make a written request to the Human Rights Council to settle the allegations against our troops…I want to tell them to remove these charges. We … [Read more...] about President’s UN plea and misplaced obsession with war crimes – Daily Mirror
India-South Asia trade has potential to triple to $62 billion, says World Bank
Deeper regional trade and connectivity has the potential to more than triple India’s trade with its South Asian neighbors, World Bank said in a report on Monday. In a report titled ‘A Glass Half Full: The Promise of Regional Trade in South Asia’, the bank estimates India’s potential trade in goods with South Asia at $62 billion against its actual trade of $19 billion, which is … [Read more...] about India-South Asia trade has potential to triple to $62 billion, says World Bank
Financial Times expresses concerns over Sri Lanka taking Chinese loans
Financial Times expresses concerns over Sri Lanka taking Chinese loans By Naveen Dewage 24 September 2018The London-based Financial Times (FT) recently published an article entitled “Sri Lanka sinks deeper into China’s grasp as debt woes spiral.” It is yet another expression of the concerns of US, European and major … [Read more...] about Financial Times expresses concerns over Sri Lanka taking Chinese loans
Mahathir Mohamad explains how to choose FDIs
COLOMBO (News 1st) – In a period of time, when the influence of China has given rise to serious concerns, the recently elected Prime Minister of Malaysia Dr. Mahathir Mohommad had clearly specified as to why he does not prefer the Chinese investment method. The Malaysian PM stated that FDI from anywhere, even from China should be accepted, but that when it comes to giving over … [Read more...] about Mahathir Mohamad explains how to choose FDIs
Sri Lanka to charge ‘debt recovery levy’ on banks from Oct 01
ECONOMYNEXT - Sri Lanka's banks will be charged a ' debt recovery levy' on banks October 01, 2018 and not September 01, 2018 according to changes proposed to the island's finance act.The current administration came to power promising to lower the total number of taxes, making it easier to do business, but a so-called 'robin hood' budget in 2015 went against the policy.The debt … [Read more...] about Sri Lanka to charge ‘debt recovery levy’ on banks from Oct 01