All Stories in Economic

$1.5 bln sovereign bond issue dropped

$1.5 bln sovereign bond issue dropped

Sri Lanka has dropped plans for an up to $1.5 billion sovereign bond issue scheduled for April, its finance minister said on Friday, days after parliament rejected his bid to raise government borrowing limits ahead of national elections. Ravi Karunanayake flagged the issue in February …

Sri Lanka targets US tourists through “Monkey Kingdom”

Sri Lanka targets US tourists through “Monkey Kingdom”

Sri Lanka tourism promotion office says that the country is set to receive a massive boost from in its seventh key market USA with the recently launched Disney documentary movie ‘Monkey Kingdom’. We need to do everything we can”, said Tourism Minister, Navin Dissanayake. “To make sure …

Did China profit from corrupt Sri Lanka deals?

Did China profit from corrupt Sri Lanka deals?

It’s the kind of project that can make a legacy: A massive port complex, complete with luxury hotels and fancy shops, constructed on an artificial island. Mahinda Rajapaksa, the former president of Sri Lanka, was the driving force behind such a project, a $1.4 billion …

Hong Kong securities watchdog fines Merrill Lynch HK$2 million

Hong Kong securities watchdog fines Merrill Lynch HK$2 million

Hong Kong’s securities watchdog fined Merrill Lynch Far East HK$2 million for violations by the bank of rules on position limits in its futures trading in 2013, the third time in five years Merrill has been fined by the agency for breaches of its rules. …

Shares fall for 6th session on margin calls, political woes

Shares fall for 6th session on margin calls, political woes

Sri Lankan shares fell for a sixth straight session on Monday and closed at their lowest in more than eight months as mostly retail investors sold their stocks to settle margin trading, while political worries also weighed on sentiment. The main stock index ended down …

Boao Forum an event of global significance

Boao Forum an event of global significance

The 2015 Boao Forum for Asia (BFA) scheduled for this week will be an event of global significance, a Russian expert told Xinhua in an exclusive interview. Georgy Petrov, vice-president of the Russian Chamber of Commerce and Industry, said that the forum not only plays …

Inconsistent policy drives investors away, early elections will help

Inconsistent policy drives investors away, early elections will help

Sri Lanka’s policy inconsistency is unhealthy for foreign investments while the new mini budget does not send the right signals to the FDI community, an investment advisor said. “In my role as a banking partner at KPMG, we get lot of investors who come and …

IMF rules out fresh bailout for Sri Lanka

IMF rules out fresh bailout for Sri Lanka

The IMF on Wednesday (Mar 4) ruled out a fresh bail-out for Sri Lanka, which had hoped to secure loans of more than US$4.0 billion to restructure expensive debt taken on by the previous regime. Much of the country’s post-war infrastructure under the administration of …

Sri Lanka woo British tourists

Sri Lanka woo British tourists

With the view of developing new product segment for UK travelers, Sri Lanka Tourism took a strategic decision in partnership with the industry to showcase Sri Lanka as a premium travel destination in the UK’s original and largest wedding event, The National Wedding Show, in …

India to prune duties for Pak, Sri Lanka under SAFTA

India to prune duties for Pak, Sri Lanka under SAFTA

India will bring down the list of sensitive items that are presently shielded from duty cuts under the South Asian Free Trade Agreement (SAFTA) for Pakistan and Sri Lanka in a calibrated manner. ‘”I think in the next committee of experts meeting, we will see …