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Sri Lanka’s official reserves USD 6.8bn in May 2015
July 23, 2015 (LBO) – Sri Lanka’s gross official reserves stood at 6.8 billion US dollars in May 2015, equivalent to 4.2 months of imports, while total foreign assets amounted to 8.7 billion US dollars, equivalent to 5.3 months of imports, data showed. Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in […]
Sri Lanka‘s tea exports fall for eigth consecutive month
uly 23, 2015 (LBO) – Sri Lanka’s Tea exports, which were severely affected by the lower demand from Russia and the Middle East, declined for the eight consecutive month in May 2015, recording a drop of 12.1 per cent in May 2015. Official data shows Sri Lanka exported 123.6 million US dollar worth tea in […]
‘s General Treasury lends Rs544.9mn to pay Golden Key depositors tomorrow
July 23, 2015 (LBO) – Sri Lanka’s government will provide 544.3 million rupees of tax payers money as the first tranche to start paying the much talked of “Golden Key Depositors” who invested in a ponzi scheme to get a bigger share of the failed Golden Key Credit Card Company from tomorrow (24), a statement […]
Sri Lanka Marxist JVP election manifesto repeats good governance policies
July 23, 2015 (LBO) – Sri Lanka Marxist JVP’s election manifesto presented to the public yesterday contains key governance policies similar to those contained in President Sirisena’s election manifesto.Abolishing the executive Presidency by establishing a Parliamentary system, Electoral reforms, Right to Information Act and as well as the National Audit Act are some of the […]
Sri Lanka’s exports flat in May while imports up: Central Bank
July 22, 2015 (LBO) –Sri Lanka’s exports earnings recorded a marginal decline of 0.1 per cent, year-on-year, to 883 million US dollars in May 2015, led by lower performance in tea, sea food, gem, diamond and jewellery exports, and the Central bank said. Earnings from industrial exports increased by 3.3 per cent to 661.3 million […]
UNP to launch a policy manifesto to boost ordinary people income: Harsha De Silva
July 22, 2015 (LBO) Sri Lanka’s United National Party is set to launch it’s policy manifesto on Thursday (23), targets at improving the income of ordinary people through a knowledge based economy, Deputy Economic Policy Minister Harsha de Silva said.“We are planning for an economic revolution to help boost the ordinary people through our new […]
Sri Lanka stocks close up 0.8-pct
July 22, 2015 (LBO) – Sri Lanka’s stocks closed up 0.76 percent on Wednesday with index heavy stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed 54.04 points higher at 7,199.63 up 0.76 percent. The S&P SL20 closed 42.86 points higher at 4,037.83 up 1.07 percent. Turnover was 1.62 billion rupees, […]
EU team due in October to assess requirements for lifting fishing ban: USD 75mn loss so far
July 22, 2015 (LBO) – A delegation from the European Union is due to arrive in Sri Lanka in October to assess the progress made by the Sri Lankan government in order to lift a fishing ban imposed earlier, a foreign Ministry official said.“A technical evaluation mission from the EU is to come to Sri […]
Sri Lanka’s Treasury bill yields up across maturities: Central Bank
July 22, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up across maturities at Wednesday’s auction with 12-month yield up 08 basis points to close at 6.39 percent, data from the state debt office showed. 3-month yields were up 03 basis points to close at 6.26 percent while 6-month Treasury bill yields were up […]
Sri Lanka’s Finance Minister to send letter of demand to ex-President
July 22, 2015 (LBO) – Sri Lanka’s Finance Minster is to send a letter of demand to ex-President demanding 5.0 billion rupees over a statement made by him recently.“Rajapaksa has said that a person charged with financial crimes is serving as the Finance Minister. This statement is an insult to me and a lie.” Ravi Karunanayake […]
Sri Lanka’s ICRA assigns [SL] A+ rating with Stable outlook to Access Engineering
July 22, 2015 (LBO) – ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service has assigned an Issuer rating of [SL]A+ for Access Engineering with stable outlook on the long-term rating. Full text of the press release is reproduced below. ICRA Lanka assigns [SL] A+ with Stable […]
BRICS Development Bank To Counter Western Lenders
July 22, 2015 (LBO) – The BRICS group of emerging economies launched its New Development Bank (NDB) in Shanghai on Tuesday with the promise of more financial security to its member states and developing countries. Set up by Brazil, Russia, India, China and South Africa, it is seen by many as a counter to the […]