Category: Economy
First Capital assigns higher probability for neutral monetary policy stance
Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the Central Bank may delay the monetary easing while allowing the impact of the previous rate cut to materialise. With manufacturing and credit signaling signs of recovery in economy and vulnerabilities affecting the external outlook, they assign a higher probability of 70 percent […]
Sri Lanka to present Vote on Account for 1Q 2020 instead of fully-fledged budget
Aug 14, 2019 (LBO) – Sri Lanka’s cabinet yesterday approved a proposal to present a Vote on Account (VoA) to allocate state expenditure for the first quarter of 2020 as it will be nonsensical to present a fully-fledged budget in the wake of a presidential election. Since the Presidential Election is due at the end […]
Sri Lanka official reserves at USD 8.3bn by end July; YTD rupee appreciation 3.1-pct
Aug 09, 2019 (LBO) – Sri Lanka’s gross official reserves were 8,343.9 million US dollars by the end of July, down from 8,864.98 million US dollars in June, latest Central Bank data showed. By the end of July, foreign currency reserves were 7,366.8 million dollars while the reserve position in the IMF was 65.8 million […]
Cabinet approves amendments to Nation Building Tax & Value Added Tax
Aug 06, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers has approved the tax amendments proposed by the Finance Minister Mangala Samaraweera in his Budget 2019. Accordingly, the Cabinet has approved the Amendment Draft Bills on Nation Building Tax and Value Added Tax (VAT). The Finance Ministry said all the amendments, once drafted by the […]
Ceylon Chamber announces Sri Lanka investment and business conclave 2019
The Ceylon Chamber of Commerce in association with the Ministry of Development Strategies and International Trade, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Industry and Commerce, Board of Investment of Sri Lanka, the Department of Commerce and the Sri Lanka Export Development Board will be organizing Sri Lanka Investment and Business Conclave 2019 […]
No change in 15-pct interest to Senior Citizens’ Savings Accounts: Finance Ministry
Aug 05, 2019 (LBO) – Although the Central Bank has reduced the rates for deposits maintained in commercial banks, the special interest rate of 15 percent offered by the Government for senior citizens have not been changed. “There is no truth in the media reports published by different media saying that the 15% special bank […]
Market Research Society of Sri Lanka to introduce new socio-economic measure
Aug 05, 2019 (LBO) – The Market Research Society of Sri Lanka will be introducing its new SEC (socio-economic) measure, which takes into account a 3rd dimension, which is a lifestyle indicator. The new SEC classification will be launched at the event organised on 13th of August 2019 at JAIC Hilton, Colombo targeting the business […]
Sri Lanka’s 1st dollar sovereign bond fund poised for global investors
Jul 26, 2019 (LBO) – Strong demand on the recent issuance of Sri Lankan International Sovereign Bonds (ISB) signals potential for a strong economic recovery according to Ceylon Asset Management (CAM)) Director and Economic Advisor, Rainer Michael Preiss. “The decline in Sovereign Bond Yields indicate that the worst is over for Sri Lanka. The coupon […]
IMF downgrades global growth to 3.2-pct in 2019
Jul 25, 2019 (LBO) – The International Monetary Fund (IMF) has cut its growth forecasts for the global economy for this year and next, a statement said. It predicts growth of 3.2 percent in 2019, down from its April forecast of 3.3 percent while next year it is set to pick up to 3.5 percent […]
Sri Lanka inflation decreased in June
July 23, 2019 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index has been decreased to 2.1 percent in June from 3.5 percent in May due to the high base prevailed in the corresponding month of the previous year. Meanwhile, in June, both year-on-year food and […]
Sri Lanka vehicle registrations down in June 2019
Jul 22, 2019 (LBO) – Sri Lanka’s vehicle registrations across most categories have declined in June relative to May, a new report shows. Data compiled by JB Securities equities research shows a drop in 2-wheeler registrations have driven down the total to 26,201 the lowest on record over the past 36 months. The slowdown and […]
Sri Lanka Central Bank expects lending rates to reduce further in immediate future
July 19, 2019 (LBO) – Sri Lanka’s Central Bank expects lending rates of banks and NBFIs to reduce further in the immediate future, and borrowers, particularly SMEs, can expect to obtain credit facilities at reduced interest rates from banks and NBFIs. The Central Bank of Sri Lanka requested licensed banks and Non-Bank Financial Institutions (NBFIs) […]