Category: Economy
Sri Lanka’s Economic Summit 2019 Opens Today
Sep 17, 2019 (LBO) – The Sri Lanka Economic Summit (SLES) 2019 themed on Re-calibrating Sri Lanka’s Economic Trajectory Towards 2025, to guide Sri Lanka’s journey towards development and prosperity will get underway at the Cinnamon Grand Colombo, today. The two-day event brings together over 450 local and international participants consisting of prominent business leaders, […]
Sri Lanka reduces fuel prices
Sep 11, 2019 (LBO) – Sri Lanka’s government has decided to reduce the petrol and diesel prices with effect from mid-night, yesterday the Finance Ministry said issuing a statement. Accordingly, petrol (octane 92) per litre will be decreased by Rs. 1 and making it Rs. 137; petrol (octane 95) will be sold at Rs. 161, […]
Driving growth in uncertain times tops agenda at Oxford Business Group roundtable
Sep 10, 2019 (LBO) – The steps that Sri Lanka could take to harness digital innovations and mitigate the impact on its economy of domestic political disruption and global trade uncertainty were among the subjects explored recently at a roundtable organised by the global publishing, research and advisory firm Oxford Business Group (OBG). Titled ‘How […]
Sri Lanka calls for proposals to appoint arrangers for JPY 60bn Samurai bond
Sep 09, 2019 (LBO) – Sri Lanka’s Central Bank on behalf of the government has invited proposals from banks and investment houses for consideration to be appointed as Joint Lead Arrangers for the proposed Samurai bond issuance. The government intends to issue a bond up to about 60 billion Japanese yen in a benchmark size […]
No collateral needed to obtain enterprise loans up to 1.5 mn from state banks: Mangala
Sep 08, 2019 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera who is in Jaffna held a series of meetings under the enterprise Sri Lanka Exhibition. In the morning, he met the members of war widows and small and medium entrepreneurs associations at the Jaffna Kachcheri and held a separate meeting with the Ex-combatants. Secretary […]
Sri Lanka official reserves improve to USD 8.5 bn in August
Sep 06, 2019 (LBO) – Sri Lanka’s gross official reserves were 8,532.6 million US dollars by the end of August, up from 8,343.9 million US dollars in July, latest Central Bank data showed. By the end of August, foreign currency reserves were 7,494.7 million dollars while the reserve position in the IMF was 65.5 million […]
Sri Lanka tourist arrivals drop in Aug 2019: Europe picks up
Sep 05, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during August 2019 was 143,587, a decline of 28.3 percent when compared with the same period last year. This month, the largest source market for tourists was India, followed by the United Kingdom and China. Almost 99 percent of tourists […]
‘s Bank privatization rumour is baseless & politically motivated: Finance Ministry
Sep 03, 2019 (LBO) – Sri Lanka’s Government emphasizes that the proposed amendments to the People’s Bank Act never aims to privatize People’s Bank. According to the Finance Ministry, the only objectives are to increase the authorized share capital of the People’s Bank and to enable the Bank to issue debentures without the additional requirement […]
Third exhibition of Enterprise Sri Lanka in Jaffna
Sep 02, 2019 (LBO) – The third of a series of Enterprise Sri Lanka exhibitions which aims to promote enterprise culture within the island and taking the government development activities to the doorstep of the people will be held from September 7 to 10 at Jaffna Fort. The goal of this particular exhibition is to […]
‘s credit profile reflects ongoing liquidity &’s
Aug 30, 2019 (LBO) – Moody’s Investors Service says in a new report that the credit profile of Sri Lanka (B2 stable) reflects ongoing government liquidity and external vulnerability risks. Key credit challenges include large borrowing requirements, with a high reliance on external funding, and low foreign exchange reserves coverage of forthcoming economy-wide external debt […]
Sri Lanka eco summit to discuss SOE reform implementation weaknesses
Aug 26, 2019 (LBO) – Sri Lanka’s State-Owned Enterprises (SOEs) has been the topic of debate for many years now. Discussions around it have covered improving profitability, service and governance while examining the root causes for the continued losses incurred by SOEs. Some of the solutions for reforms are well known, but its implementation has […]
Sri Lanka vehicle registrations rebound in July 2019
Aug 26, 2019 (LBO) – Sri Lanka’s vehicle registrations saw a rebound across the board in July from the lows of June since, limping back to normalcy post Easter Sunday bombings. Total motor cars recorded 2,584 units in July significantly up from 1,580 units in June but significantly down from 7,162 units 12 months ago. […]