Category: Economy
Palm oil industry association launched to advocate sustainable growth in Sri Lanka
Sept 04, 2018 (LBO) – Sri Lanka’s Oil Palm industry has formally inaugurated an industry association under the aegis of the Ceylon Chamber of Commerce to promote common interests and advocate ‘Sustainable Growth through Responsible Production.’ Representing cultivators of oil palm, and refiners, processors, manufacturers, marketers and sellers of palm oil and other products of […]
Sri Lanka BoI targets 35 projects with Rs.46.4Bn in investments in the North
Sept 03, 2018 (LBO) – The Northern Province has benefited from investment as a result of the efforts of the Board of Investment of Sri Lanka. Among the BOI investments there are currently 6 apparel manufacturers which represent an investment of 8,000 million rupees and employ 7,917 workers. Another 15 projects in different sectors are […]
Leveraging trade-investment nexus will enable Sri Lanka create high value jobs: Fin Min
Sept 03, 2018 (LBO) – Leveraging the trade-investment nexus will enable Sri Lanka to create high value jobs and attract technology to drive productivity growth and real wage growth for citizens, the Finance Minister says. “In addition to enabling market access, it is also essential to address the supply side bottlenecks for investors,” Mangala Samaraweera, […]
UN expert to report Sri Lanka’s debt & its impact on human rights to UNHRC
Aug 30, 2018 (LBO) – United Nations Independent Expert on foreign debt and human rights, Juan Pablo Bohoslavsky, will conduct an official visit to Sri Lanka from 3 to 11 September, at the invitation of the Government. “My visit aims at collecting first-hand information and examine questions related to debt and other financial obligations from […]
Financial Intelligence Unit enters into MoU with Insurance Regulatory Commission
Aug 28, 2018 (LBO) – In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Insurance Regulatory Commission of Sri Lanka (IRCSL) on August 01, 2018 at the Central Bank of Sri […]
Sri Lanka official reserves at USD9.3Bn : Rupee depreciated by 5.0-pct by Aug 2018
Aug 28, 2018 (LBO) – The Central Bank of Sri Lanka said reflecting developments in the domestic and global foreign exchange markets, the Sri Lankan rupee depreciated by 5.0 percent during the year up to 27 August 2018 against the US dollar. Furthermore, reflecting cross currency movements, the Sri Lankan rupee depreciated against the euro, […]
STAX presents research on investment and FTA potential at SL-Singapore business council
Aug 27, 2018 (LBO) – Local research consultancy, STAX presented an overall view of key challenges in investment, potential opportunities for investment and growth, and the significance of the Sri Lanka Singapore free trade agreement, recently. Drawing on STAX’s extensive research capabilities and experience operating in the Singaporean market, Manager Firaz Markar presented an overall […]
Sri Lanka July inflation up to 3.4-pct
Aug 22, 2018 (LBO) – Sri Lanka’s overall rate of inflation as measured by the National Consumer Price Index (NCPI),on year on year is 3.4 percent in July 2018 compared to 2.5 percent in June 2018 , the Department of Census and Statistics (DCS) said. Y on Y inflation of food group has increased from 0.5 percent […]
Office space demand and long term optimism for apartments to drive real-estate market
Aug 21, 2018 (LBO) – It is clear that Sri Lanka has enjoyed a sustained growth in the supply of high-end luxury apartments.By 2016 and when calculated the number of developments that have been approved or are currently under construction, then the number of units will top 14,000 by 2020, the 2018 Research Intelligence Unit […]
Moody’s Investors Service annual credit analysis assigns Sri Lanka B1 Negative
Aug 17, 2018 (LBO) – Moody’s Investors Service says that the credit profile of the Government of Sri Lanka (B1 negative) is supported by the authorities’ progress in implementing reforms, which entail fiscal consolidation and a build-up of foreign exchange reserves. The agency said a rating upgrade is unlikely for Sri Lanka and they would even consider […]
Central Bank to assist “Enterprise Sri Lanka” loan programme with training
Aug 17, 2018 (LBO) – Finance Ministry is to conduct training programs for all new entrepreneurs covered under the “Enterprise Sri Lanka” loan programme, district wise, along with the Central Bank officials.The decision was taken at a meeting held yesterday between the Finance Ministry, the Central Bank and the Heads of Bank of Ceylon, Peoples […]
Sri Lanka, Oman sign agreement on avoidance of double taxation and prevention of fiscal evasion
Aug 17, 2018 (LBO) – During the second meeting of the Sri Lanka-Oman bilateral consultations, held recently in Colombo, an agreement on avoidance of double taxation and prevention of fiscal evasion between Sri Lanka and Oman was signed by the leaders of the respective delegations. The Sri Lanka delegation to the bilateral consultations was led by […]