Category: Economy

Dec 04, 2012 (LBO) – Prices of ‘permits’ issued to state workers to buy tax slashed cars have plunged in the secondary market, following the effective legalization of a re-sale process, sources familiar with the market said. The price of a tax slashed permit for an standard family sized car had fallen from about 1.5 […]

Dec 03, 2012 (LBO) – Import based taxes have slowed in the second half partly due to a sharp reduction in vehicles, though building material imports were still up, a top customs official said. Neville Goonewardene, who headed Sri Lanka’s customs department, told a forum of importers that the agency was given a target of […]

Nov 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9.5 percent in November 2012 from a year earlier, accelerating from 8.9 percent a month earlier, data from the state statistics office showed. The Colombo Consumer Price Index rose 1. 3 percent to 167.1 points during the month, with the food component […]

Nov 26, 2012 (LBO) – Sri Lanka’s credit given to private business from banks commercial banks fell to 9. 8 billion rupees in September 2012, the lowest since 2009, with dollar denominated loans contracting, though the rupee book was still growing, official data showed. Sri Lanka’s credit contracted in nominal terms during 2009, following the […]

Nov 19, 2012 (LBO) – Sri Lanka has shown high debt-backed investment led growth when the rest of the world was slowing but to attract long term “good quality” investors, a better environment is needed, a top World Bank official said. Sri Lanka’s fiscal side was improving with debt levels while falling from high of […]

Nov 16, 2012 (LBO) – Sri Lanka’s central bank kept the rate at which money is injected into the market at unchanged at 9. 76 percent at its November monetary policy meeting, though money has been injected at below market rates on longer tenures in recent weeks. Another auction this week was cancelled, but the […]

Nov 16, 2012 (LBO) – Sri Lanka needs effective economic management to retain a positive outlook on its ‘B1’ rating Moody’s Investors Services said in a credit analysis, also raising concerns over declining rule of law. Sri Lanka’s institutional strength score assesses governance strengths, a strong payments record and the government’s commitment to data transparency, […]

Nov 14, 2012 (LBO) – Sri Lanka’s labour force growth is slowing and the proportion of the workforce above 30 years is growing, while the proportion below 30 is shrinking, raising important policy questions, a top think has said. “There are already indications that the Sri Lankan labour force growth has slowed down,” Sri Lanka’s […]

Nov 14, 2012 (LBO) – World Bank managing director Sri Mulyani Indrawati will visit Sri Lanka from November 15 to 19, to discuss the climate for private sector investment and seek ways for the to support the country further, the multilateral lender said. “Sri Lanka has made great strides in overcoming poverty as it transitions […]

Nov 12, 2012 (LBO) – Sri Lanka has created 21,463 new posts in ministries up to August 2013 out of which 18,128 were for unemployable graduates educated at tax payer expense, data released under a fiscal management law shows. In 2009 44,532 new posts were created including 40,095 in departments, 1,769 in ministries, 1,641in provincial […]