Category: Economy
‘s Central Bank eyes full inflation targeting: Governor
June 20, 2017 (LBO) – Sri Lanka is planning to adopt a full inflation targeting framework probably by next year, Central Bank Governor Indrajit Coomaraswamy said. Delivering the keynote address at the launch of the Oxford Business Group’s 2017 report on Sri Lanka Monday, Coomaraswamy said this step will enhance greater transparency and predictability for […]
Finance Minister meets S. Korean Deputy PM at AIIB meeting
June 19, 2017 (LBO) – Minister of Finance and Media Mangala Samaraweera held discussions with the Deputy Prime Minister and Minister of Strategy and Finance of the Republic of Korea, Kim Dong-yeon on Saturday, the Finance Ministry said. Samaraweera and Kim Dong-yeon discussed issues of mutual interest and underscored the importance of closer bilateral relations […]
Sri Lanka plans trade, business delegation to Bangladesh
June 16, 2017 (LBO) – Sri Lanka’s Ministry of Industry and Commerce plans a trade and business delegation visit to Bangladesh next month, on the back of a three-fold rise in trade between the two countries, a statement said. “Bilateral trade between the two countries tripled since 2010 but there is unexplored potential,” said Minister […]
Sri Lanka economy grew 3.8-pct in first quarter of 2017
June 15, 2017 (LBO) – Sri Lanka’s statistics office says economic growth rate for the first quarter of 2017 has been estimated as 3. 8 percent. The GDP for the first quarter of 2017 was 2,161,770 million rupees against 2,082,544 million rupees reported for the same period last year. “Severe drought condition prevailed mainly in […]
Sri Lankan banks likely to come under capital pressure from Basel III: Fitch
Jun 07, 2017 (LBO) – Sri Lankan banks are likely to come under increased capital pressure from Basel III-related requirements, Fitch Ratings said in a statement. “We expect most banks will have to raise capital to meet the higher requirements, particularly if they are pursuing rapid growth,” it said. “The sector’s capital needs could be […]
Sri Lanka trade gap widens 34-pct in March
June 07, 2017 (LBO) – Sri Lanka’s trade gap has widened 34.1 percent to 827.5 million US dollars in March from a year earlier, official data from the Central Bank showed. The cumulative trade deficit in the first quarter of 2017 has increased 35 percent to 2,505 million dollars from the same period last year. […]
Sri Lanka growth to accelerate to 4.7-pct in 2017: World Bank
June 05, 2017 (LBO) – Sri Lanka’s growth is forecast to accelerate to a 4.7 percent rate in 2017 and 5 percent in 2018, a new World Bank report says. According to the World Bank’s June 2017 Global Economic Prospects growth will happen as international financial institution programs support economic reforms and boost private sector competitiveness. […]
Sri Lanka vehicle registrations drop in April: JB Securities
Jun 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka fell to 33,438 units in April from 40,021 in March, with declines in all major categories except three-wheelers and tractors, JB Securities said in a research note, likely affected by the holiday season. Three-wheelers observed a 12 percent growth, month-on-month, to 1,452 units in […]
‘s Global Economy Programme
Jun 02, 2017 (LBO) – Sri Lanka’s foreign policy think tank Lakshman Kadirgamar Institute has signed a memorandum of understanding with the MJF Group to establish a Global Economy Programme to focus on international trade, foreign investment, and tourism. The establishment of the programme at LKI reflects the increasingly key role of economic diplomacy in Sri […]
Opinion : Building the future, infrastructure in ASEAN and South Asia
By Anna Marrs ASEAN and South Asia are building infrastructure at an unprecedented rate. Anyone who travels the capital cities of this region knows it for a fact. Roads, railroads, bridges, ports and metros. All this construction is transforming the city centres and areas of economic activity, and the lives of 2.4 billion people. It […]
Sri Lanka to obtain USD200mn loan from Pakistan
Jun 01, 2017 (LBO) – Sri Lanka’s cabinet has approved obtaining of a loan worth 200 million dollars from Pakistan for the financing of priority development projects. The loan will be utilized for housing construction, development of livestock, importing equipment required for agriculture and dairy production, and development of the Industrial Technology Institute. Former Finance […]
Four Sri Lanka state ministers, three deputy ministers take oaths
May 31, 2017 (LBO) – Several state ministers and deputy ministers took oaths before Sri Lanka’s President Maithripala Sirisena on Wednesday. The appointments are: Eran Wickremaratne – State Minister of Finance Lakshman Yapa Abeywardena – State Minister of Public Enterprise Palitha Rangebandara – State Minister of Irrigation Wasantha Senanayake – State Minister of Foreign Affairs […]