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Heavily debt ridden Sri Lanka has returned to the U.S. dollar bond markets, successfully pricing a new issuance of U.S.$500 million 5-year and $1.5 billion long 10-year Senior Unsecured Fixed Rate Bonds (the “Bonds”) with maturity dates of June 28th, 2024 and March 28th , 2030, respectively.

Tuesday, 25 June 2019 06:06

PM pledges to lead charge for investment

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Prime Minister Ranil Wickremesinghe yesterday assured he would lead the charge for stronger investment in the future to fast track economic growth and create new jobs outlining ambitious plans for a host of new investment projects including a renewable power cable to India.

Tuesday, 25 June 2019 06:02

Sri Lanka launches National Card Scheme

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The Central Bank together with LankaClear Ltd., ( LCPL) achieved a significant milestone in the country’s payment landscape by launching the National Card Scheme (NCS).

Tuesday, 25 June 2019 05:57

Micro cars launch korando

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Micro Cars Ltd., the sole agents in Sri Lanka for SsangYong Motors since 2006, revealed the latest fourth-generation C300 Korando for the Sri Lankan market.

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Standard Chartered acting as the Joint Lead Manager and Joint Book Runner successfully priced a $ 175 million five-year Fixed Rate Senior Unsecured Reg S issuance for SriLankan Airlines, guaranteed by the Democratic Socialist Republic of Sri Lanka at 7.00% yield.

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Despite allegations of privatisation of state owned banks by opposition political parties, Sri Lanka’s people’s bank is set to be restructured soon with the aim of strengthening the financial stability and effectiveness of its operations, banking sector sources divulged.

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Sri Lanka has instituted a comprehensive domestic regulatory and supervisory regime for banks and non-bank financial institutions and other financial agencies that provide formal or informal services for the transmission of money or value and other bodies particularly susceptible to money-laundering.

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Sri Lanka’s intellectual property protection initiatives are set be further strengthened for the benefits of local inventors, artistes, and authors for their creative efforts; as well as to encourage research and innovation and start new businesses.

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Reuters: Sri Lankan shares fell for the second straight session yesterday to hit a more than one-week low, due to continued foreign fund outflows, while the rupee ended steady as dollar demand from importers offset exporters' greenback sales.

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COLOMBO, AFP: Sri Lanka is seeking a loan of nearly $ 1 billion from China for energy and highways as the island recovers from the devastating Easter Sunday bombings, the Finance Ministry said on Thursday.

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