Category: Economy
Germany grants EUR13mn for Sri Lanka development projects
July 26, 2016 (LBO) – Germany has granted 13 million Euros to Sri Lanka to implement five development projects during this year. Finance Ministry said this grant was pledged to Sri Lanka during President Maithripala Sirisena’s official tour of Germany in February this month. Among the projects to be implemented under this grant are: Wilpattu […]
Sri Lanka needs more loans to face transitional period: PM
July 22, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said the government needs some more loans from countries like China, Japan and India to keep macro economic stability in the country. In an interview with Channel NewsAsia, Prime Minister said the recent 1.5 billion US dollar IMF loan is a major measure taken […]
Sri Lanka consumer prices NCPI soars 6.4-pct in June
July 21, 2016 (LBO) – Sri Lanka’s inflation climbed for the fifth straight month in June after recording a fall of 0.7 percent in January, according to the National Consumer Price Index introduced in October last year with 2013 as the base. According to the Census and Statistics Department, inflation was 6.4 percent in June […]
World Bank pledges USD55mn loan to develop Jaffna
July 21, 2016 (LBO) – The World Bank on Wednesday pledged a 55 million US dollars loan to improve urban services, preserve cultural and environment assets, and improve livability in Jaffna. The credit agreement for the project was signed by Treasury Secretary, Dr. R.H.S. Samarathunga and World Bank Country Director Françoise Clottes. The credit will […]
Sri Lanka’s Port City to apply its own economic, commercial laws: PM
July 18, 2016 (LBO) – The proposed Financial City better known as the Port City will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations, Prime Minister said. Delivering the keynote address at the third South Asian Diaspora Convention, Prime Minister Ranil Wickremesinghe said […]
‘ Index shows manufacturing upswing in June
July 18, 2016 (LBO) – Sri Lanka’s manufacturing sector showed an upswing in June, after a slowdown in the previous two months, based on the Purchasing Managers’ Index (PMI) released by the Central Bank. “The Manufacturing PMI recovered to the positive territory in June 2016 registering 55.1 index points, from the contraction observed in the […]
‘s leadership at South Asia Convention
July 15, 2016 (LBO) – Prime Minister Ranil Wickremesinghe is scheduled to have bilateral discussions with Singapore’s president and premier during his three-day official visit to Singapore. Wickremesinghe will leave the country on Sunday principally to deliver the keynote address at the third South Asian Diaspora Convention which will be held in Singapore starting Monday. […]
Chinese business delegation to visit for B2B meetings
July 15, 2016 (LBO) – A 16-member business delegation from China will be visiting Sri Lanka on the 29th July, 2016, in a visit organised by the Beijing Lansing Century Exhibition Company in association with Lanka Exhibition & Conference Services. The visit coincides with the Construction Expo 2016 to be held in Colombo. The Ceylon […]
Korea pledges USD300mn development loans to Sri Lanka till 2018
July 14, 2016 (LBO) – A framework arrangement enabling Sri Lanka to obtain soft loans from the government of Korea up to 300 million dollars till 2018 was signed on July 13, 2016, a statement said. “This Framework Arrangement is based on the agreement between the two governments signed in December 1995 concerning Loans from […]
New incentive structure for investments in coming weeks: PM
July 13, 2016 (LBO) – Sri Lanka will unleash a new incentive structure for specific investment sectors coupled with a simplified tax system in the coming weeks, Prime Minister Ranil Wickremesinghe said. Wickremesinghe said the government has already identified specific sectors that generate high employment opportunities to offer new incentives. “I want to encourage both […]
PTL Watch: Sri Lanka bond yields dip further 5-10 bp
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Sri Lanka govt finances on track as per budget: Ravi K
July 13, 2016 (LBO) – Sri Lanka’s government finances this year are on target as estimated in the last budget, Finance Minister Ravi Karunanayake said. “Our revenues are on target as per the last budget. Excise collections are up 40 percent,” Karunanayake told reporters without giving details. Sri Lanka has revised down the 2016 budget […]