Category: Economy
Sri Lanka’s President appoints Dr. Indrajit Coomaraswamy as Governor of Central Bank
July 02, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Dr. Indrajit Coomaraswamy as the new Governor of the Central Bank of Sri Lanka. Dr. Coomaraswamy will assume duties as the Governor of Central Bank on Monday. This is what President posted on his official twitter profile today morning. After consulting all parties […]
Sri Lanka exports drop 11.2-pct in March, trade gap widens
July 01, 2016 (LBO) – Sri Lanka’s exports fell a faster 11.2 percent to 945.4 million US dollars in March 2016 while imports fell at a slower 0.9 percent widening the trade gap, Central Bank data showed. The largest contribution for exports decline came from transport equipment followed by exports of spices. Earnings from transport […]
Sri Lanka faces huge debt service requirements by July & Sept
July 01, 2016 (LBO) – Sri Lanka’s external debt service requirements are expected to be relatively larger in July and September of this year as per the estimates for the remaining period, the Finance Ministry said. Releasing the mid-year fiscal position report, the ministry said the total estimated debt service payment for 2016 is 1638.7 […]
‘s CCPI inflation accelerates to 6 pct in June from 4.8 pct in May
July 01, 2016 (LBO) – Sri Lanka’s inflation as measured by Colombo Consumers Price Index (CCPI) accelerated to 6.0 percent in June 2016, up from 4.8 percent, on an year-on-year basis. Inflation for food items increased from 5.6 percent in May to 8.2 percent in June 2016 while nonfood items decreased from 4.2 percent to […]
Charitha Ratwatte to take up Governor position for two months: Source
June 30, 2016 (LBO) – Charitha Ratwatte is expected to take a temporary position as the Governor of the Central Bank of Sri Lanka, a government source told Lanka Business Online. The appointment of the former Treasury Secretary would be for two months, the source added. An official announcement has not been made yet. On […]
‘s social security programs to be networked: Cabinet
June 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved the Social Security Network Project to connect all social security programs, so that suitable persons have access to social security in a transparent manner. “There is no method of identifying whether the benefits of social security programs are being directed to the suitable communities,” a […]
AG’s report to Speaker, COPE summons Central Bank officials on July 7
June 29, 2016 (LBO) – The Committee on Public Enterprises (COPE) has summoned Central Bank Governor, officials of the Monetary Board and Finance Ministry on July 7 to discuss about the Auditor General’s report. Auditor General today submitted a 1,251 page full report to the Speaker while a short report without sensitive information has been […]
Central Bank Union calls for immediate action
Jun 29, 2016 (LBO) – Sri Lanka’s Central Bank Executive Officers Union says that immediate legitimate action needs to be taken to prevent probable anarchic state that would arise at the institution from July 01, 2016. “We write to record our discontent on the current state of depletion of public confidence in and heightened criticism […]
Sri Lanka President to appoint new Governor
June 29, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena will appoint a new governor to the Central Bank soon, he said on Wednesday. “I will appoint a new Governor to the Central Bank in the coming hours,” his twitter account said. Governor Arjuna Mahendran has said he won’t seek re-appointment due at the end […]
COPE to consider Auditor General’s report on bond issue Wednesday
June 28, 2016 (LBO) – Sri Lanka’s Parliament appointed Committee on Public Enterprises (COPE) will meet Wednesday to consider the Auditor General’s report on the bond investigation. Parliamentarian and COPE member Dr. Nalinda Jayatissa told LBO, the committee will most probably arrive at a decision on the alleged bond scam based on the findings of the […]
PTL Watch: Mid-tenor yields ease, some foreign buying
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Sri Lanka to impose capital gains tax on stocks, Minister says
June 28 (Reuters) – Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka’s cabinet approved reintroducing a capital gains tax on land early this month, but has not said whether […]