Category: Economy
Japan provides food aid worth Rs. 275Mn to Sri Lanka’s North
Oct 10, 2015 (LBO) – Sri Lanka will receive food grant assistance worth 275 million rupees from Japan through the World Food Program (WFP), a statement said.The aid will support ongoing emergency program in Sri Lanka including the School Meals Program.Under this programme , Japan will provide canned fish manufactured in the areas devastated by the Japan […]
Mid-year staff transfers, a routine matter: Central Bank
Oct 09, 2015 (LBO) – Sri Lanka’s Central Bank on Friday said their mid-year staff transfers are a routine matter and provides an employee to experience varied areas of central banking activities. Releasing a statement the bank stated that the practice has taken place annually for several years.“A work transfer is a way to help […]
PTL Watch: Yields dip, CBSL holding of govt securities rise
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Sri Lanka needs a common framework for pensions: economists
Oct 09, 2015 (LBO) – All elderly in Sri Lanka should have access to at least one reliable, affordable and adequate pension, economists said. “An adequate pension is essential to ensure income security for elderly, without being dependent,” Nisha Arunatilake of Institute of Policy Studies of Sri Lanka said. She was speaking at the National […]
Sri Lanka to get Euro 43.7mn grant, technical assistance from EU
Oct 07, 2015 (LBO) – Sri Lanka will be getting 43.7 million euro as grant and technical assistant from the European Union, government told reporters Thursday.The European Union has agreed to provide grant assistant of 30 million of euros to finance in support of the integrated rural development programme in Central and Uva provinces, which […]
Rupee strengthens to 140.45/65 on expected dollar inflows
Oct 07, 2015 (LBO) – Sri Lanka’s rupee has strengthened on Wednesday with dollar selling by a commercial bank on likely exporter proceeds and expected inflow of dollars, a dealer said. The rupee was quoted against the dollar at 140.45/65 down from 141.00/05. The central bank allowed greater flexibility of the exchange rate from 4th […]
Sri Lanka PM seeks Japanese support for national reconciliation
Oct 07, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe who is on a visit to Japan had said that, Sri Lanka needs Japanese government support for national reconciliation and peace building process. “We are expecting support from Japan for the national reconciliation and peace building process in Sri Lanka,” Wickremesinghe said addressing Japanese parliamentarians in […]
Japan to provide 45 bn Yen loan under comprehensive partnership-Updated
Oct 06, 2015 (LBO) – Japan will provide a 45.4 billion Yen (380 million dollar) loan under a ‘Comprehensive Partnership’ arrangement that will include expansion of the Bandaranaike International Airport in Sri Lanka, the Japanese Foreign Ministry said. The agreement was announced during Prime Minister Ranil Wickremesinghe’s visit to Japan after meetings with Japanese Prime […]
RBI Governor in Colombo say US hike delayed amid slow growth
Oct 06, 2015 (LBO) – The Reserve Bank of India Governor Raghuram Rajan says those who were betting on a September U.S. rate hike now see it delayed until March, amidst weaker economic data. The RBI governor was speaking at the 65th Anniversary Oration of the Central Bank of Sri Lanka in Colombo on Monday. […]
Finance Minister aims to increase annual aid from IMF, WB
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake who left the island to attend the 2015 Annual Meetings of the World Bank Group and the IMF is currently aiming at increasing annual aid to Sri Lanka.Sri Lanka receives long term aid of 400 million US Dollars annually from these two institutions, the Finance […]
Analysis: Sri Lanka foreign reserve dilemma hinges on Central Bank objectives
Oct 05, 2015 (LBO) – Acting quicker than it did in early 2012, the decision by Sri Lanka’s Central Bank to give up defending the rupee in September of this year bodes well for a quicker recovery of foreign exchange reserves. But enamored with an additional objective of economic development, that goes beyond financial and […]
Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]