Category: Economy
Sri Lanka shows 4.2-pct unemployment rate for 2017
May 09, 2018 (LBO) – Sri Lanka’s statistics office said that the estimated unemployment rate for 2017 has been 4.2 percent. Unemployed persons are defined as persons who were not working and if they were looking for work, have taken actions to find a job and ready to accept a job given an opportunity during […]
Sri Lanka Fin Min addresses ADB annual sessions in Manila
Statement made by Hon. MangalaSamaraweera, Minister of Finance and Media of Sri Lanka at the Business Session of the Asian Development Bank’s 51st Annual Session in Manila 2018 Hon. Carlos G. Dominguwz, Chairman of the ADB Board of Governors, Hon. TakehikoNakao, Presidentof the ADB, Distinguished Governors, Ladies and Gentlemen, I thank you for giving me […]
Sri Lanka should continue digitization of services to capture millennial tourists :JLL
May 08, 2018 (LBO) – Real estate consultancy Jones Lang La Salle (JLL) says the strong surge in tourist arrivals and earnings, which could be further enhanced by steps to ensure a transparent regulatory framework and improvements in soft infrastructure.Noting that two of Sri Lanka’s largest tourist markets, India and China, will account for 25 […]
Finance Minister holds discussion with ADB to expedite projects in Sri Lanka
May 04, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera who is attending the 51st Annual meeting of the ADB in Manila had discussions with In-Chang Song, an Executive Director of ADB at their headquarters today. The ADB program in Sri Lanka has provided loans, grants and technical assistance to grow the country’s economy […]
Investor-friendly reforms to take focus in 2018 report on Sri Lanka:OBG
May 04, 2018 (LBO) – Sri Lanka’s plans to enhance its investment climate by introducing mechanisms aimed at reducing red tape and speeding up key processes will be given wide-ranging coverage in a report by the global research and consultancy firm Oxford Business Group (OBG). The Report: Sri Lanka 2018 will shine a spotlight on […]
Sri Lanka rupee slips to low of 158.00: Stocks down 0.2-pct
May 03, 2018 (LBO) – The Sri Lanka rupee hit a new low of 157.90/158.00 rupees against the US dollar during morning trade in the spot market. The rupee closed at 157.75/90 rupees against the US dollar in the spot market, Wednesday. While in the Colombo Stock Exchange,the All Share Price Index closed was trading at 6,530.77 […]
‘s first electric vehicle plant
May 03, 2018 (LBO) – Tokyo based high-tech research and development startup is planning Sri Lanka’s first ever large, industry scale electric vehicle (EV) manufacturing facility. The proposed EV manufacturing operation is to take off by producing Sri Lanka’s first ever smart, “EV tuk-tuks.” The startup from Tokyo is also setting up international standard EV […]
‘s economy
May 03, 2018 (LBO) – Sri Lanka’s Central Bank said recent indicators reflect positive sentiment expressed by external foreign parties regarding the performance of the Sri Lankan economy and its prospects. Central Bank’s response came at a time when serious concerns have been expressed regarding the performance of the Sri Lankan economy. “It is instructive […]
‘s telco merger to relieve competitive pressure: Fitch
May 01, 2018 (LBO) – The merger between Hutchison Telecommunications Lanka (Private) Ltd and Etisalat Lanka (Private) Ltd is likely to relieve some competitive pressures that have undermined Sri Lankan telecom companies’ revenue and EBITDA growth in recent years, Fitch Ratings said.. However, the merger is unlikely to affect the ratings on market leaders Sri […]
Given the current debt dynamics, fiscal slippage can lead to a serious economic crisis: CB
Apr 26, 2018 (LBO) – Given the current debt dynamics, fiscal slippage can lead to a serious economic crisis, the Central Bank said releasing its Annual Report 2017.Central Bank in its report said amidst the measures taken towards revenue based fiscal consolidation, fiscal sector performance in 2017 deviated from the envisaged targets.“Avoiding deviations from fiscal […]
Sri Lanka political unrest tests reform momentum: Fitch
Apr 26, 2018 (LBO) – Recent political developments in Sri Lanka have created some uncertainty over reform momentum and fiscal consolidation, and prolonged upheaval could undermine investor confidence ahead of large external debt maturities in 2019-22, says Fitch Ratings. That said, the unrest has had limited economic impact so far, and Sri Lanka’s ‘B+’ sovereign […]
Presidential Commission on SriLankan to commence recording of evidence
Apr 26, 2018 (LBO) – President Maithripala Sirisena said that the Presidential Commission appointed to look into the alleged frauds and malpractices in SriLankan Airlines will commence recording of evidence within the next two weeks.He said at a discussion held with the trade union representatives of SriLankan Airlines at the Presidential secretariat yesterday (April 25). […]