Category: Economy
Five few BOI projects to start in Jaffna
Feb 20, 2019 (LBO) – The Jaffna District is one of the main districts in the Northern Province which the Board of Investment (BOI) has targeted for development through Foreign Direct Investments. Among the existing investments under BOI in the Northern Province are 6 Apparel Manufacturers and 15 other projects.When these are all operational the […]
Sri Lanka to introduce a Master Plan for Northern Province economic development
Feb 20, 2019 (LBO) – Sri Lanka’s government is to launch a framework for economic development in the Northern Province with the co-operation of UN agencies and the bilateral donors including those funding development projects in the North. The Framework will reflect upon the past decade of post-war development and identifies priorities for policy design, […]
Reducing gender gap boosts Sri Lankan economy, says WB VP for South Asia Region
Feb 20, 2019 (LBO) – The World Bank Vice President for South Asia Region, Hartwig Schafer concluding his three-day visit to Sri Lanka said the banks is commitment to work with public and private sectors to create the space for women to access work and remain at work. Evidence suggests that Sri Lankan women are […]
Sri Lanka could grow 20-pct in long-run by closing gender gap: WB Vice President
Feb 20, 2019 (LBO) – Sri Lanka specifically could grow its economy by as much as 20 percent in the long-run by closing the gender gap in the workforce, emphasized World Bank Vice President for South Asia Region Hartwig Schafer quoting data from an IMF study.Evidence suggests that Sri Lankan women are excelling in higher […]
EU opposes death penalty; €2.2bn exports under GSP+ from June 2017 – May 2018
Feb 15, 2019 (LBO) – The European Union (EU) has reiterated its opposition to the use of the death penalty in all circumstances and encouraged Sri Lanka to maintain its moratorium on executions with a view to abolishing the death penalty. The EU and Sri Lanka held their 22nd meeting of the Joint Commission yesterday […]
Sri Lanka growth at 3.5-pct in 2019 : Room to be better managed : World Bank
Feb 15, 2019 (LBO) – World Bank Vice President, South Asia Region, Hartwig Schafer says that he finds the island facing a challenging macroeconomic landscape and that the nations Gross Domestic Product could be managed in a more effective manner. “Although the people’s income levels are very high and you are about to reach upper […]
Sri Lanka Development Update: Navigating Sri Lanka’s demographic change
Feb 14, 2019 (LBO) – The latest edition of the World Bank’s Sri Lanka Development Update (SLDU) finds the island in a challenging macroeconomic landscape. The post-conflict high growth momentum has decelerated.A volatile global environment and structurally weak competitiveness continue to weaken growth and external sector performance. High interest costs mask limited fiscal improvement. The […]
Sri Lanka Trade Min. launches digital platform for small, informal biz
Feb 14, 2019 (LBO) – Sri Lanka has began work on the first national digital data bank for its SMEs and entrepreneurs recently with the backing of a Singaporean firm. Under the new initiative the National Enterprise Development Agency (NEDA) will execute a nationwide centralised database of all SMEs and entrepreneurs thereby boosting the performance […]
World Bank Vice President arrives in Sri Lanka to support country’s reform plans
Feb 13, 2019 (LBO) – The World Bank Vice President for the South Asia Region, Hartwig Schafer arrived today on his first visit to Sri Lanka to gain a better understanding of the country’s development priorities and how the Bank can continue to support its critical reform agenda. “Sri Lanka has made good progress in reducing […]
Sri Lanka unemployment at 4.1-pct in Q3 2018
Feb 13, 2019 (LBO) – The number of unemployed persons is estimated as 346,998 during the third quarter 2018 or 4.1 percent, the Department of Census and Statistics (DCS) said. The overall unemployment rate reported for female is 6.6 percent and it is 2.8 percent for male. Youth unemployment rate (age 15 – 24 years) […]
‘s industrial production up by 1.2-pct in Dec 2018
Feb 13, 2019 (LBO) – The volume of industrial production in Sri Lanka has increased by 1.2 percent in the month of December, 2018 compared to the same period in 2017. Among the manufacturing industries; volume of products of ‘wood and products of wood and cork except furniture’(27.7 percent), ‘Beverages’ (14.0 percent) and ‘Manufacture of […]
Sri Lanka tourist arrivals up 2.2-pct in Jan 2019
Feb 12, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during January 2019 was 244,239. In comparison to January 2018, there is a growth of 2.2 percent as the last year January tourist arrivals were 238,924, Sri Lanka Tourism Development Authority stated in a press release. Last month, the largest source […]