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Sri Lanka aiming to increase foreign reserves to US$ 10 bn by end 2017


Finance Minister Ravi Karunanayake told the media yesterday that a combination of sovereign bonds, a syndicated loan and the forthcoming investment by China in the Hambantota Port will boost Sri Lanka's foreign reserves to US$10 billion by the end of this year.

At present the country's foreign reserves stand at US$ 5.3 billion.

Meanwhile, the government will issue its sovereign bond in June which will be organized by seven lead managers; Citicorp, HSBC, Deutsche Bank, Standard Chartered Bank, Morgan Stanley, a Chinese bank and a Chinese finance corporation. This bond issuance is expected to raise US$ 1.5 billion.


AIA delivers ‘record new business performance’ for First Quarter 2017


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‘Union Bank continues strong balance sheet growth Q1 2017’


The first quarter of 2017 saw the Bank attaining strong Balance Sheet growth, and laid a solid platform for the remaining period of 2017. The Bank showed a strong 95% growth on Results from Operating Activities, recording Rs. 147Mn in comparison to R...

SL gains ground on GSP+ at EU vote with 436 votes

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Blue chip stocks in demand

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LiCC Jeaneration launches water-poof denim jeans with nine other exciting variants


Firebrand jeans retailer Long Island Clothing Company (LiCC) launched a trail blazing brand of water-proof jeans and thus takes the much favoured denim jeans to yet another level.The launch of the water-proof jeans titled LiCC Liberté invites...

‘Corrective action stabilized economy in 2016’


A summary of the performance of the Sri Lankan economy in 2016 as reflected in the Annual Report is given below:Overview: Following a period of uncertainty, the Sri Lankan economy showed early signs of stabilisation during the year 2016 in response ...

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