Category: Commodity
Central Bank imposes maximum interest rates on pawning advances of banks
Apr 27, 2020 (LBO) – Sri Lanka’s Central Bank has decided to impose maximum interest rates on pawning advances of licensed banks. The decision has been taken after considering the necessity to provide relief to low income individuals who are pawning gold jewellery to meet their short-term financing needs due to the adverse economic situation […]
‘s headline inflation decreased in March
Apr 22, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index has decreased to 7.0 percent in March 2020 from 8.1 percent in February 2020. As per the Statistics Department, this was driven by a monthly decrease in prices of the items in the Food […]
‘s headline inflation decreased to 5.4-pct in March
Mar 31, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the Colombo Consumer Price Index declined to 5.4 percent in March 2020 from 6.2 percent in February 2020, the Statistics Department said. This was due to the decline in the prices of items in the Food category. Accordingly, Food inflation (Y-o-Y) […]
Sri Lanka announces relief measures as country battles with COVID19
Mar 24, 2020 (LBO) – Sri Lanka’s government has announced a number of relief measures to people undergoing various hardships due to the prevailing situation brought on by the Coronavirus. Accordingly, the President has directed the Governor of Central Bank, the secretaries of all ministries, chief secretaries of all provincial councils and the heads of […]
CSE trading closed as both indices drop over 5-pct
Mar 20, 2020 (LBO) – Trading at the Colombo stock exchange closed at midday as the S&P SL20 index of more liquid stocks fell 11.90 percent or 262.42 points to 1.971.11. The All-share index also fell 6.22 percent or 303.10 points in early trade to 4,571.63. The market fell due to the fears of foreign […]
Sri Lanka headline inflation increased in January
Feb 24, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index has increased to 7.6 percent in January from 6.2 percent in December, the statistics office said. This was driven by the monthly increase in prices of items in both Food and Non-food categories. Food […]
Colombo consumer price based inflation increased to 5.4-pct in January
Feb 01, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the Colombo Consumer Price Index increased to 5.4 percent in January 2020 from 4.8 percent in December 2019, Statistics Department data showed. This was driven by the monthly increase of prices of items in both Food and Non-food categories. Food inflation […]
‘s inflation increased to 6.2-pct in December
Jan 22, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 6.2 percent in December 2019 from 4.1 percent in November 2019. According to the Central Bank, this was driven by monthly increase of prices of items in the Food category along with […]
Cabinet nod to amend Inland Revenue Act; to be presented to Parliament
Jan 21, 2020 (LBO) – Sri Lanka’s Cabinet of Ministers have approved the proposal to amend the Inland Revenue Act to reflect new tax proposals introduced by the government. The proposal has been made by Prime Minister Mahinda Rajapaksa in his capacity as the Finance Minister to fulfill a promise made by the government to […]
Trade deficit narrows marginally in Nov with imports, exports declining
Jan 17, 2020 (LBO) – Sri Lanka’s trade deficit contracted marginally in November 2019 (year-on-year), with both imports and exports declining, the latest Central Bank data showed. The deficit in the trade account declined in November to US dollars 762 million, from US dollars 785 million in November 2018. The trade deficit contracted by US […]
‘s Central Bank to maintain inflation within 4 to 6-pct
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank expects to maintain inflation within a range of 4-6 percent through a transparent, coherent, and accountable monetary policy framework going forward. Announcing the road map of the Central Bank for this year, Governor W D Lakshman highlighted that maintaining inflation at stable levels would help improve […]
Sri Lanka bans Ethanol importation for liquor production
Jan 01, 2020 (LBO) – Sri Lanka’s Ministry of Finance and Planning has decided to suspend the importation of Ethanol from other countries. The Finance Ministry said the import of Ethanol for liquor production will be suspended from today (1st January) on the directives of Prime Minister Mahinda Rajapaksa as the Minister of Finance. This […]