CB plays safe, aims to raise bulk of funds needed for $5.9 b debt repayments by March In negotiations to raise $1b from RBI swap, $1b from Bank of China $500m from China Development Bank also likely Cabinet approval given this week to raise $2b more, CB prepares for ISB and Panda and Samurai bonds Says structural reforms essential to boost growth, defends 19% rupee … [Read more...] about CB to raise over $5b in 1Q
Finance and Mass Media Minister Mangala Samaraweera with IMF Managing Director Christine Lagarde The International Monetary Fund (IMF) has said it “remains ready to support” Sri Lanka in its efforts to boost the economy and would send a team to Colombo next month to resume discussions on the stalled loan programme.IMF Managing Director Christine Lagarde met with Finance … [Read more...] about IMF to send team here next month to resume loan talks – Daily Mirror
Megapolis and Western Development Minister Patali Champika Ranawaka all smiles with Chinese Ambassador Cheng Xueyuan Reclamation completed; Stage set for seeking investors, ongoing talks for $1b investment, overall target $15b Govt. may consider incentives for port city investment RDA conducting feasibility study for roads to link port city to Colombo and … [Read more...] about Port City is here for all!
From left: Minister of Tourism, Christian Affairs and Wildlife, John Amaratunga presenting the receipt of the first e-booking reservation to Lead Environmental Specialist and Former Director General of DWC, Sumith Pilapitiya in the presence of Secretary to the Ministry S.Hettiarachchi ( extreme left) and DWC Deputy Director, Ranjan Marasinghe (right)Pic by Pradeep … [Read more...] about Electronic pre-booking service launched to tackle over-visitation to national parks – Daily Mirror
Despite the challenging times ahead, the county’s capital market is optimistic that the progressive line-up measures will continue anticipating sizeable investments to take-off ground this year. Outlining the key elements of the Colombo Stock Exchange (CSE) wish-list for 2019, its Chairman Ray Abeywardena said reinstating political stability, currency and fast-tracking economic … [Read more...] about CSE expresses optimism amidst headwinds
Port City work in progressInvestor completes dredging work, commences infrastructure development Both soft and hard infrastructure now under Megapolis Ministry Legal framework for investments still under discussions with possibility of drawing tripartite agreements Colombo International Financial City legislation still under discussion despite passing … [Read more...] about Tripartite agreements for Port City investments
John Amaratunga Pic by Pradeep Dilrukshana Rs.3bn Global Promotion Campaign likely to be launched in Dubai this April Chinese tourist arrivals to increase to 0.5mn by 2020 By Nishel Fernando Sri Lanka Tourism sets an ambitious target to attract one million tourist arrivals from the country’s largest tourist source market, India this year, by more than doubling over … [Read more...] about Sri Lanka targets to double number of Indian tourist arrivals to 1mn this year – Daily Mirror
Funds borrowed through ISBs at higher rates outweigh loans from China ISB debt growth caused by shift from concessional debt to commercial debt Price of debt more crucial than quantity of debt- Verité Research By Shabiya Ali AhlamSri Lanka getting caught in a debt trap and finding itself in a precarious position has less to do with its borrowings from China but more … [Read more...] about Chinese loans not main source of debt trap, says think tank – Daily Mirror
Former Defence Secretary Gotabhaya Rajapaksa addressing the ‘Viyathmaga’ forum on Saturday“I am ready if you are” Gota tells midst cheers at Viyathmaga forum on Saturday Reveals his intentions and plans to face Presidential polls likely this year Wants a Sri Lankan identity created to take country forward Argues social issues should take precedence over individual … [Read more...] about Gota says ready for presidency!
Steering Committee unable to reach an agreement on draft PM asks Constitutional Assembly and public to decide fate of the process Acknowledges taking process forward difficult without 2/3 majority Despite lack of draft Constitution, MR demands it be tabled TNA says new Constitution was aimed at uniting all Sri Lankans JVP slams PM, points out Steering Committee met 83 … [Read more...] about Legislative lane for new Constitution faces snags