Category: Economy
IMF supports negative policy rates to spur economies
Apr 11, 2016 (LBO) – IMF supports negative policy rates by some central banks given the significant risks to the outlook for growth and inflation, a blog by IMF staffers states. Six central banks, including the European Central Bank and the Bank of Japan, have taken the unprecedented step to spur their economies. “Although the […]
Sri Lanka PM wants equity swap for USD8 bln debt to China
Apr 11, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe has asked China to swap part of the 8 billion dollars it owes the nation into equity in infrastructure projects, and has offered to sell stakes in Sri Lankan companies. Wickremesinghe spoke to reporters in Beijing, China on Saturday, media report said. “We’ve been […]
China grants 500mn Yuan symbolizing Sino-Lanka friendship
Apr 08, 2016 (LBO) – Chinese Premier Li Keqiang has pledged a grant of 500 million Yuan to Sri Lanka symbolizing Sino-Lanka friendship, the Prime Minister’s office said. Chinese Premier has told the Sri Lankan delegation that the Free Trade Agreement is expected to be signed soon reducing the trade gap between the two countries. […]
Correction: Names of Sri Lankans in Panama Papers not yet released
CORRECTION – Names of individuals in the Panama Papers have not yet been released. The list making the rounds on social media is a previous list on offshore accounts released in 2013. The LBO story has been retracted.
Location, access to markets key for investors in Sri Lanka: CCC Survey
Apr 06, 2016 (LBO) – Sri Lanka is a unique business destination for foreign investors because of its strategic location and access to both east and west sea routes, a recent survey conducted by the Ceylon Chamber of Commerce found. The survey, conducted among the prospective investors who attended the Ceylon Chamber’s ‘Sri Lanka Investment and Business Conclave 2016’ held […]
Panama Papers rock financial world, three Sri Lankan companies in list
Apr 05, 2016 (LBO) – A huge leak of documents has rocked the financial world revealing how some among the rich and powerful use tax havens to hide their wealth. With data still being leaked, three Sri Lankan companies are on the list, according to an interactive map making the rounds on social media forwarded […]
India likely to cut rates, eyes on FOMC minutes
Apr 04, 2016 (LBO) – Both the Reserve Bank of India and the Reserve Bank of Australia will announce interest rate decisions on Tuesday, with Moody’s Analytics expecting the RBI to cut its policy rate by 25 basis points to 6.5 percent. The Monetary Authority of Singapore will also meet this week, and analysts expect […]
Final decision on VAT next week, says State Finance Minister Lakshman Yapa
Apr 01, 2016 (LBO) – The final decision on Value Added Tax will be taken by next Friday, State Finance Minister Lakshman Yapa Abeywardena told LankaBusinessOnline a short while ago. “No decision has been taken yet. It will be decided next Friday,” Abeywardena said. Inland Revenue Department has issued a notice to the VAT registered […]
Sri Lanka’s BOI signs 16 agreements for first 2 months of 2016
Apr 01, 2016 (LBO) – The Board of Investment of Sri Lanka has signed 16 new project agreements for the first two months of this year. The said agreements represent a cumulative future investment of 110 million US dollars, the BOI said in a statement. The investment office further said these projects will be generating […]
Truth behind USD 6,361mn loans of this government: Harsha de Silva
Apr 01, 2016 (LBO) – Sri Lanka’s Deputy Foreign Minister Harsha de Silva has denied the allegations that present government is taking huge loans but not utilizing the same for any productive purpose. The opposition recently charged the present government has taken 6,361 million US dollars in foreign loans in its fifteen-month lifespan thus far but […]
I practiced strict financial discipline & management, says President
Apr 01, 2016 – Sri Lanka’s President Maithripala Sirisena says he has fulfilled his duties and responsibilities in an appropriate manner during the last year when it comes to financial discipline and management of the country. It is the responsibility of the politicians and public officials to pay more attention to financial discipline and management, […]
Colombo inflation accelerates 2.0-pct in March 2016
Mar 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 2.0 percent in March 2016 from a year earlier, down from 2.7 percent in February 2016 with the inflation index dropping 1.1 percent in the month, the state statistics office said. As per the statistics office, Year on year inflation of […]