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’s Treasury Secretary wishes Mahinda Rajapakse would be the president for 2020
Jan 05, 2014 (LBO) – Sri Lanka’s Treasury Secretary PB Jayasundera said that he wishes President Mahinda Rajapaksa would be the president for 2020. “I want to express my gratitude to His Excellency the President and wish he would be president for 2020 as well,” Jayasundera said. President Rajapaksa has shown bold, credible and sensitive […]
Central Bank says Sri Lankan Rupee was relatively stable in 2014
Jan 05, 2014 (LBO) – Sri Lanka’s Rupee was relatively stable amidst the volatility in the international currency market, the Central Bank has said. Now, in the normal condition that we have been used to, all those appreciations would have depreciated,” Nivard Cabraal , Governor of Central Bank said. “But this has taken place at […]
Economic Imperatives post 8th January by Ceylon Chamber of Commerce
Since the end of the conflict in 2009, Sri Lanka has achieved economic growth above 7 percent on average and a relatively stable macro-economic position. Inflation and interest rates have been low, fiscal deficits have been steadily reduced, balances of payments have been stable, and investment in infrastructure has increased. However, household incomes have not […]
’s Regional Development Bank to issue Rs.2.5 bn debenture issue
Jan 05, 2014 (LBO) – Sri Lanka’s Regional Development Bank or Pradeshiya Sanwardana Bank to issue debenture to raise 2.5 billion rupees which will be listed on the Colombo Stock Exchange, the bank said in a stock exchange filling. The bank plans to offer about 25 million unsecured, subordinated, redeemable debentures at 100 rupees each. […]
’s BOP recorded a surplus of US $ 1,400mn: Central Bank
Jan 05, 2014 (LBO) – Sri Lanka’s Central Bank said the Island reported a Balance of Payment or BOP surplus of 1,400 million US dollars in 2014. Sri Lanka’s exports grew by 10 percent to 11.4 billion dollars in 2014 and imports were up 7.8 percent to 19.4 billion US dollars in 2014. The trade […]
Train Link
Jan 03, 2014 (LBO) – Sri Lanka inaugurated the newly built railway track between Jaffna and Kankasanthurai covering a distance of 18 kilometers, which established a direct train link with Colombo a media release said. This track corridor has two crossing stations at Kondavil and Chunnakam and five halt stations at Kokuvil, Inuvil, Mallakam, Tellipalai […]
’s Samurdhi payments are mostly politically driven: Governor
Jan 03, 2014 (LBO) – Sri Lanka’s Governor Nivard Cabraal said that Island’s Samurdhi (prosperity) income re-distribution scheme is mostly politically driven. The poverty headcount ratio have declined and recorded 6.7 percent in 2012/2013 data showed. It was reported 8.9 percent ratio in 2009/2010. In the western province, where infrastructure is plentiful and markets accessible, […]
’s economy grew 7.8 pct in 2014 and targets 8 pct growth in 2015: Central Bank
Jan 03, 2014 (LBO) – Sri Lanka’s economy grew about 7.8 percent in 2014, the Central Bank Governor Ajith Nivard Cabraal said. Exports grew 10 percent to 11.5 billion US dollars in 2014. Textile and Garment, Tea and Coconut mainly contributed to the growth in exports. Imports increased 7.8 percent to 19.4 billion US dollars […]
Dual Citizenship
Jan 01, 2015 (LBO) – Sri Lanka™s cabinet has granted approval to recommence the Dual Citizenship which had been temporarily suspended during the end of 2011 has been reinstated from today, official of Ministry of Defence and Urban Development said at the briefing yesterday. The granting of Dual Citizenship will be in force from 31st […]
’t remove army barriers from North: Maithripala
Jan 01, 2015 (LBO) –Sri Lanka’s common opposition Presidential candidate Maithripala Sirisena said, that his government would not remove the military barriers from one war ravaged Northern parts of the island.