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Sri Lanka’s rubber production declines for third consecutive year: CB
May 06, 2015 (LBO) – Sri Lanka’s rubber production declined for the third consecutive year with weak international demand and adverse weather conditions affecting the industry, the Central Bank said.“Rubber production dropped by 24.4 per cent to 98,573 metric tons in 2014 from 130,420 metric tons in 2013,” the Central Bank 2014 Annual report said. […]
US trade gap hits six year high as imports surge
May 06, 2015 (LBO) – The United States trade deficit has widened by 43.2 per cent in March 2015 against the previous month, country’s Census Bureau announced Tuesday. The trade deficit was 51.4 billion US dollars in March, up 15.5 billion US dollars from 35.9 billion US dollars in February 2015. “This is the largest […]
Sri Lanka’s Treasury bill yields drop: Central Bank
May 06, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down at Wednesday’s auction with the 12-month yield dropping 04 basis points to 6.35 per cent, data from the state debt office showed.Treasury bills of 3,000 million rupees for 3 months, 7,000 million rupees for six months and 15,000 million rupees for twelve months […]
“Investing in stock market is risky business”: Ceylon Tobacco Company
May 05, 2015 (LBO) – Sri Lanka’s Ceylon Tobacco Company said even though investing in the stock market is a risky business, returns are high.“Investing in the stock market is a risky business, but you can get a high return if you understand what you are doing and invest in the right companies,” Felicio Ferraz, […]
Sri Lanka stocks close up 0.32-pct
May 05, 2015 (LBO) – Sri Lanka’s stocks closed higher at 0.32 per cent, with the banking and apparel sector stocks trading actively, brokers said. The Colombo benchmark All Share Price Index closed 23.11 points higher at 7,202.11 up 0.32 per cent. The S&P SL20 closed 10.71 points higher at 4,064.16 up 0.26 per cent. […]
Sri Lanka should strive for better balance between social development and wealth creation: Economist
May 05, 2015 (LBO) – Sri Lanka has good social development indicators but lack the appropriate balance between social development and wealth creation, a senior economist said. “Sri Lanka has been extremely successful in terms of social development according to the United Nations Millennium Development Goals (MDGs) but has not been able to achieve the […]
Sri Lanka to maintain mid-single digit inflation levels till end 2015: Central Bank
May 5, 2015 (LBO) – Sri Lanka is expected to maintain single digit inflation until end 2015 and inflation is expected to be maintained in the range of 3-5 per cent in the medium term, Central Bank annual report 2014 said. Meanwhile, annual consumer price inflation is projected at 3.0 per cent in 2015 and […]
Sri Lanka’s BOI to undergo culture and thinking pattern change to up investment
May 05, 2015 (LBO) – Sri Lanka’s investment promotion office, Board of Investment plans to change its culture and thinking pattern to fast track the investment approval procedure in the Island.“What we are trying to change is the overall thinking pattern and the culture where we present ourselves more like a facilitation agency than a […]
Sri Lanka’s new government has hopeful prospects of opening positive relations with US: National Peace Council
May 05, 2015 (LBO) – Sri Lanka’s new government has hopeful prospects of opening a new relationship with United States of America and opportunities of working together in the future, Jehan Perera, Executive Director, National Peace Council of Sri Lanka said in a statement.The full statement follows Hopeful prospects of new relationship with United States […]
Sri Lanka to develop a new policy for investment: BOI Chief
May 05, 2015 (LBO) – Sri Lanka’s Board of Investment said, that it is developing a new policy framework for investments with the help of a panel of experts. “We are in the process of creating an economic investment policy for Sri Lanka,” Upul Jayasuriya, Chairman of BOI told reporters at a briefing held last […]