Turkiye's 🇹🇷 Finance Minister Şimşek: 📌 #Turkiye is the only country whose credit rating has been increased by 3 credit agencies (Fitch, S&P and Moody's) in 2024, and the outlook is positive 📈. 📌 Our biggest priority is to reduce #inflation and save low-income groups, minimum wage earners, retirees, civil servants & all segments of society from the inflation problem.
Sri Lankan Morning Market Pulse # Rupee recognised as top emerging market currency # International bondholders give SL mid-September ultimatum # Govt. proposes slashing of personal income tax # SL’s economic stability hinges on IMF-backed fiscal reforms # SLPA to reduce workforce # Ceylon Tea sets global standards in Sri Lanka # SEC to acquire new market surveillance system # Petrol price drops by Rs. 12, diesel by Rs. 10 # Finance Ministry rejects EC’s tax exemption call # Fitch Downgrades Maldives to ‘CC’ # Tourism industry hit by immigration delays and inefficiencies # Asia shares see pockets of gains, China PMI tops forecasts # Secondary bond market yields see-saw; close up
🚀 Ministry of Finance to Unveil New Vehicle Import Guidelines! 🚀 🔵 USD 1 Billion Quota – Central Bank proposes USD 1 Bn from foreign reserves for vehicle imports 🔴 Tax and Revenue Boost – Cabinet & Finance Ministry to decide on new tax rates to increase State revenue 🟢 Economic & Job Growth – Experts say resuming imports will revitalize the financial sector, modernize the vehicle fleet, and create jobs 🟡 Safeguarding Reserves – Current foreign reserves at USD 6.8 Bn; imports must be managed responsibly 🟠 Stay Tuned – Official criteria set to be announced soon, shaping Sri Lanka’s automotive future #VehicleImports #MinistryOfFinance #SriLanka #EconomicGrowth #ForeignReserves #AutomotiveIndustry #NewGuidelines #FinanceNews #Development #Jobs
Egypt’s gross domestic product (GDP) is expected to grow by 4% year-on-year (YoY) in 2025. Read more > https://shorturl.at/YoKuy #ArabFinance #Egypt #Economy #News
Unit Head- Agri Sales & Supply Chain Finance, SME & Agri Banking SME Finance l Development Finance l Market System Strategy l Agriculture Business l Supply Chain Finance
The International Monetary Fund (IMF) has set Bangladesh's revenue growth target for the current fiscal to an amount which is 27% higher than what was collected last year. https://lnkd.in/g5j5yRvr
AMRO's Annual Consultation Report on #Brunei Darussalam is now available for download! Brunei is poised for stronger recovery with a 2.7% growth this year, led by the non-oil and gas sector. Food #inflation remained higher than pre-pandemic levels and headline inflation is expected to increase to 1.4% this year. While notable progress has been made to diversify the economy, policymakers should further strengthen efforts to develop other priority sectors, including food, #tourism, and #ICT. ➡️ Read more from the press release: bit.ly/4bEN9LO ➡️ Download the full report: bit.ly/44Gk0gW
𝐌𝐨𝐫𝐧𝐢𝐧𝐠 𝐍𝐨𝐭𝐞.. # GDP-linked bonds provide little protection to creditors # Airline operations up by 25% compared to 2023 # Tourist arrivals reach 1,162,426 # Cabinet approves amendments to Port City Economic Commission Act # President says won unconditional backing from 92 Govt. MPs # Fresh gazette to be issued in August for Rs. 1,700 plantation worker wage # Do not compromise regulations to accommodate commercial fintech products: CBSL governor # Sri Lanka, Pakistan discuss further cooperation, FM visit: Foreign ministry # “ISBs can keep govt. accountable, promote performance” # Global News - Asian stocks sit tight, yen firms as BOJ beckons # Government Securities - Demand at T-bond auctions decrease further # The weekly Treasury bill auction due today, will see a total amount of Rs. 170 billion on offer
𝐌𝐨𝐫𝐧𝐢𝐧𝐠 𝐍𝐨𝐭𝐞.. # Sri Lanka has made “sufficiently strong progress” on debt restructure for IMF review # Rs. 200 b to be earned from VAT exemption removal # Sri Lanka’s Commercial Bank ‘A(lka)’ rating confirmed: ISB assets 7-pct # Sri Lanka’s Hatton National Bank ‘A(lka)’ rating confirmed, ISB assets 10-pct # Parliament passes new Electricity Bill with 44 majority votes # Over 44,000 vehicles released to market despite import restrictions # TRC says preliminary approval given for “Starlink” to provide satellite-based internet services in Sri Lanka # National tea sales average expands in May # World stocks shine after cautious ECB rate cut # Secondary bond market yields edge up further
Egyptian Accounting Standard 51 - Reporting in Hyperinflationary Economies has been released. The transition date is pending, awaiting the Egyptian government's decision. Per Paragraph 6, The Egyptian government will issue a decision specifying the period during which a new accounting standard for hyperinflationary economies will be applied to entities using the local currency (EGP). This standard will be mandatory for entities operating in an economy classified as hyperinflationary. #AccountingStandards #Hyperinflation #FinancialReporting
Sri Lankan Morning Market Pulse # IMF staff team to visit Sri Lanka on Tuesday for talks with new Govt. # CB likely to hold rates till Budget 2025 # Jaishankar coming for talks with President # Sovereign ratings unlikely to see immediate revision # BIA expansion: A New Era Begins # NPP Govt. abandons plan to privatize SriLankan Airlines # SL requests four-month stay of proceedings of case filed by Hamilton Reserve Bank # Sri Lanka creditors win option to ditch New York law in Bonds # Private sector credit spikes to record Rs. 135 b in August # IRD announces key tax payment deadlines # Tourist arrivals cross 100,000 mark in August # Official reserves reach $ 6 b in Aug. # Asia shares dragged by Nikkei, China keeps rallying # Magical bull run in secondary bond market Market was buoyed by optimistic remarks shared by the international rating agencies
𝐒𝐫𝐢 𝐋𝐚𝐧𝐤𝐚𝐧 𝐌𝐨𝐫𝐧𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐮𝐥𝐬𝐞 # Speaker endorses Sri Lanka Economic Transformation Bill # Economic recovery to boost SL’s insurance industry: CB Governor # Airlines eye Sri Lanka amidst tourist boom # FinMin tells spending agencies to focus on fiscal discipline for 2025 budget # Long-term political will crucial for SL’s power sector reforms: ADB # Local gem and jewellery businesses shift overseas as taxes bite # Global Market Trends - Japanese shares lift Asian stocks ahead of US data barrage # Government Securities - Bond yields continue to tick up ahead of auctions; activity subdued A round of Treasury bond auctions totaling Rs. 60.00 billion is scheduled to be held today
