Category: Economy
Sri Lanka’s unemployment at 4.3-pct in 4Q 2015
Mar 31, 2016 (LBO) – Sri Lanka’s statistics office said unemployment rate for the fourth quarter of 2015 has been estimated as 4.3 percent against the 5.0 percent reported for the third quarter of 2015. Releasing Sri Lanka’s Labour Force Survey results for the last quarter of 2015, Census and Statistics Department said estimated economically […]
‘s GDP seen up 5.3-pct in 2016, investment to rise, says ADB
Mar 31, 2016 (LBO) – Sri Lanka’s gross domestic product (GDP) growth is expected to rise to 5.3 percent in 2016 as private sector investment picks up once fiscal reforms are committed , a new Asian Development Bank (ADB) report says. “Fiscal consolidation is to be put back on track by a revision of the […]
Sri Lanka plans to issue up to USD3 bln in international sovereign bonds
Mar 30, 2016 (LBO) – Sri Lanka plans to issue international sovereign bonds up to three billion dollars in 2016, the Central Bank said, in a request for proposals to appoint lead managers or book runners. “As per the approved Sovereign Bond programme of the Government of Sri Lanka (GOSL), Central Bank of Sri Lanka […]
Sri Lanka should open up more than two sectors for ETCA: Prof. Samarajiva
Mar 29, 2016 (LBO) – Sri Lanka should open up more sectors for the proposed Indo-Lanka Economic and Technology Cooperative Agreement or ETCA, a head of regional think tank said. A former telecoms regulator and founding Chair of LIRNEasia Professor Rohan Samarajiva said at a seminar that the construction industry is a one sector that […]
ADB announces loan auction for Sri Lankan SME sector
Mar 28, 2016 (LBO) – Asian Development Bank announced the first auction of a 12.5 million US dollar tranche of re-finance funds for Sri Lankan banks to provide loans for small and medium enterprises in Colombo, Monday. “This is the first time ADB is disbursing funds in this manner where funds will be allocated through […]
Sri Lanka seeks USD1bn currency swap with China: Prime Minister
Mar 23, 2016 (LBO) – Sri Lanka is currently looking at one billion US dollars worth currency swap agreement with China, Prime Minister Ranil Wickremesinghe told Parliament Wednesday. “We have several issues with regard to the foreign exchange reserves. We already have a swap with India and now we are going to have another one […]
Markets mixed after deadly attacks in Brussels
Mar 23, 2016 (LBO) European markets recovered from early losses after deadly attacks in Brussels killed 31 people and injured more than 230. France’s CAC and Germany’s DAX index fell 2 percent early on, but recovered by close. The CAC closed up 0.09 percent and the DAX up 0.42 percent. The FTSE closed up 0.12 […]
Sri Lanka inflation accelerates to 1.7-pct in February 2016
Mar 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose 1.7 percent in February from the 0.7 percent deflation reported a month earlier on year-on-year basis, data from the state statistics office showed. The main contributor towards the increase was the Non-food category, the state statistics office said. The […]
Debt crisis in developing nations likely if slowdown continues: Kelegama
Mar 21, 2015 (LBO) – The main priority for policy makers worldwide should be to support a robust and balanced global recovery, a Sri Lankan economist said. This involves promoting cooperation in reforming the international financial system, and ensuring sufficient resource flows to developing economies, Saman Kelegama, executive director of the Institute of Policy Studies […]
European Commission announces Euro 38 mn for development in Sri Lanka
Mar 16, 2016 (LBO) – The European Commission co-signed two new support programmes worth 38 million Euros in the field of rural development and trade with Sri Lanka, a EU statement said. “Now our focus is on providing long-term support towards poverty reduction and local economic development,” Neven Mimica, EU Commissioner for International Cooperation […]
Sri Lanka foreign reserves at USD6.6bn; IMF support by mid 2016
Mar 16, 2016 (LBO) – Sri Lanka’s gross official reserves were estimated at 6.6 billion US dollars by today, Special Assignments Minister Sarath Amunugama said. Speaking at a media briefing Amunugama said it is sufficient for 4 months of imports. “It is recommended to keep at least 3 months of imports. So we are at […]
‘s GSP+ process on the right track: EU Commissioner
Mar 16, 2016 (LBO) – The European Union has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, a senior EU official said. With the election of the new government Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) […]