Category: Commodity
Implementing international conventions only criteria for GSP Plus: EU
Jan 18, 2017 (LBO) – European Union today reiterated that the ratification and implementation of 27 international conventions signed by Sri Lanka are the only criteria to rejoin the Generalized Scheme of Preferences Plus (GSP+). The delegation of the European Union to Sri Lanka and Maldives said these conventions relate to international human rights, labour […]
Sri Lanka’s largest fully integrated tire plant to be built with Rs11.25bn
(Press Release) – Rigid Tyre Corporation (Pvt.) Ltd. Equipped with the latest technology, this new plant is destined to roll in a new page in the industrial sector of Sri Lanka. It comes with the healthy integration of political acumen, local entrepreneurship and proven European technology in the form of a world reputation –Marangoni of […]
‘s festive demand for rice: Ministry
Dec 20, 2016 (LBO) – Sri Lanka’s Ministry of Industry and Commerce will increase supply of freshly milled rice to meet a surge in demand during the festive season, a statement said. Sri Lanka will import 10,000 tonnes of rice, and buy 20,000 tonnes of paddy (both White Rice and Nadu) from the Paddy Marketing […]
Sri Lanka’s CCPI inflation down to 3.4 pct in Nov
Nov 30, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated 3.4 percent in November 2016 from a year earlier, but down from 4.2 percent in October, the state statistics office data showed. Year-on-year inflation of the “Food Group” decreased from 6.0 percent in October to 2.9 percent in November, while that of […]
Sri Lanka nation-wide inflation accelerates to 5-pct in October
Nov 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose to 5.0 percent in October from the 4.7 percent reported a month ago, data from the state statistics office showed. The National Consumer Price Index (NCPI) for the month of October 2016 has been calculated as 114.7. In […]
Sri Lanka October tea prices reach record levels
Nov 04, 2016 (LBO) – Sri Lankan tea prices at the Colombo auctions were at an new monthly high in October 2016 as volumes fell but demand picked up. “Auction averages reached record levels in the backdrop of a sharp decline in availability,” Forbes & Walker Tea brokers said in their October report. “Auction average […]
Sri Lanka’s CCPI inflation up 0.3 pct points in Oct 2016
Oct 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated 4.2 percent in October 2016 from a year earlier, up from 3.9 percent in September, the state statistics office data showed. Inflation of the food group increased from 5.5 percent in September to 6.0 percent in October while that of non-food group […]
Sri Lanka inflation accelerates to 4.7-pct in September
Oct 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose to 4.7 percent in September from the 4.5 percent reported a month ago, data from the state statistics office showed. In September contribution to the inflation from food group was 2.1 percent while non-food group was 2.7 percent. […]
World Bank raises 2017 forecast for crude oil to USD55 per barrel
Oct 21, 2016 (LBO) – The World Bank is raising its 2017 forecast for crude oil prices to 55 US dollars per barrel from 53 per barrel following OPEC’s preparation to limit production. Energy prices, which include oil, natural gas and coal, are projected to jump almost 25 percent overall next year, a larger increase […]
‘s Rebrab to build euro 150 mln sugar refinery in Sri Lanka
Oct 13, 2016 (LBO) – The ninth wealthiest businessman in Africa, and the founder of Cevital, Issad Rebrab, will invest in Sri Lanka in a sugar refinery and a vegetable oil plant in the Southern Province, the Daily News reported. Fortune 500 ranked Rebrab said Cevital will invest 150 million Euros to build the sugar […]
Sri Lanka nationwide inflation declines to 4.5-pct in Aug 2016
Sept 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index declined to 4.5 percent in August from the 5.8 percent reported a month earlier on an yearly basis, data from the state statistics office showed. In August 2016, the contribution to the inflation from food group and non-food group […]
New markets needed to offset Sri Lanka Tea downturn: OBG
Sept 21, 2016 (LBO) – Adverse weather conditions, combined with rising costs and greater competition, threaten to weaken Sri Lanka’s position in the global tea industry, though efforts to develop new markets could help offset downturns in exports and revenue, the Oxford Business Group said in a note on the economy. Flooding in mid-May struck […]