Category: Economy
Sri Lanka exports, imports fall; trade gap shrinks in October
Jan 07, 2016 (LBO) – Sri Lanka’s exports fell 6.0 percent to 847.3 million US dollars in October 2015 from a year earlier while imports fell at a faster 6.4 percent to 1.64 billion US dollars, official data showed. The trade gap fell 6.8 percent to 791.0 million US dollars from a year earlier. The […]
George Soros looking at investment opportunities in Sri Lanka
Jan 07, 2016 (LBO) – Global investor George Soros said that his team is in the Island and are looking at investment opportunities. “In addition to my people connected to the Open Society Foundation, my investment person is also in Sri Lanka to look for opportunities,” George Soros, a global investor and Founder Chairman of […]
Anemic EM weigh on global growth, South Asia a bright spot: World Bank
Jan 07, 2016 (LBO)- Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 percent pace, from 2.4 percent growth in 2015, as advanced economies gain speed, according to the World Bank’s January 2016 Global Economic Prospects. The South Asia region, […]
‘s Treasury bill yields up across the board
Jan 06, 2015 (LBO) – Sri Lanka’s Treasuries yields were up with the 12-month yield rose 12 basis points to 7.42 percent at Wednesday’s auction, as statement said. 6 month bills rose 10 basis points to 6.93 percent while the 3-month yield rising 14 basis points to 6.59 percent, data from the state debt office […]
Sri Lanka, Pakistan consider currency swap agreement
Jan 06, 2015 (LBO) – Sri Lanka and Pakistan will considering entering into a currency swap agreement, the Prime Minister of Pakistan Nawaz Sharif said speaking in Colombo. The two countries will also look at a joint investment company, he said speaking at the launch of the single country trade exhibition. Sri Lanka has a […]
Foreign funds overweight on India bonds
Jan 05, 2016 (LBO) – India has a positive story for bonds with some foreign funds investing in emerging markets overweight on Indian bonds, a report said. Falling oil prices improved Indian government finances — the country is a net importer of oil — while a stable currency and limited exposure to China supported these investments. […]
Colombo inflation decelerates to 2.8-pct in December
Jan 01, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 2.8 percent in December 2015 from a year earlier, down from 3.1 percent in November 2015 with the inflation index rising 0.3 percent in the month, the state statistics office said. The Consumer price index for all items in December was 185.2 […]
Sri Lanka Treasury issues bonds to support state enterprises
Jan 01, 2016 (LBO) – Sri Lanka’s treasury has issued 50 billion rupees in bonds to repay outstanding loans or raise capital of state-owned enterprises, a Central Bank official said, explaining the likely scenario for an increase in bonds outstanding this month. Data shows a bond maturing 15 December 2020, for 50 billion rupees, placed […]
Sri Lanka interest rates tied to inflation, Fed: CB Governor
Jan 01, 2016 (LBO) – Sri Lanka will review policy interest rates based on inflation outlook and external factors such as Fed interest rates, the Central Bank Governor told a press conference. “The key thing to look at is inflationary expectations and that is something we have full responsibility for,” Governor Arjuna Mahendran said. The […]
Sri Lanka Economic Forum with Soros, Stiglitz next month
Dec 31, 2015 (LBO) – Sri Lanka’s government will host its Sri Lanka Economic Forum next month with business magnate and philanthropist George Soros and nobel laureate Joseph Stiglitz as guest speakers.The conference, an initiative of Prime Minister Ranil Wickremesinghe, will bring together development specialists to advise the various arms of government on its development […]
Sri Lanka govt in informal consultation with IMF: CB Governor
Dec 31, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that they are examining the possibilities of an International Monetary Fund (IMF) loan facility next year. “Yes we are examining the possibilities and the government are in informal consultation with the IMF,” Mahendran said. “A team is due here for regular discussions […]
Sri Lanka economy grew 5.2 pct in first nine months : CB-Updated
(Updated with Central Bank presentation) Dec 31, 2015 (LBO) -Sri Lanka’s economy grew 5.2 percent during the first nine months of the year compared with 2.4 percent growth during the same period last year, the Central Bank said on Thursday. Strong credit growth to the private sector seeping out as consumption imports was, however, a […]