Category: Economy
Sri Lanka industrial production index up 0.4-pct in June
Aug 14, 2018 (LBO) – The volume of industrial production has increased by 0.4 percent in the month of June, 2018 compared to the same month in 2017, the Census and Statistics Department said. Among the manufacturing industries; volume of products of ‘Coke and refined petroleum products’ (33.7 percent), ‘Manufacture of fabricated metal products’ (19.1 percent) […]
Jaffna uniquely positioned for dual-hub IT strategy: STAX
Aug 14, 2018 (LBO) – Sri Lanka’s leading management consulting firm, STAX, recently launched a research report outlining a dual-hub IT strategy for Jaffna. In collaboration with Market Development Facility (MDF), STAX released this report with a view to fostering the region’s substantial potential for IT-related services in line with the national drive to develop […]
President appoints committee to study Sri Lanka – Singapore FTA
Aug 11, 2018 (LBO) – President Maithripala Sirisena has appointed an independent committee comprising of five experts to study and report on the Free Trade Agreement signed with Singapore. Former Vice Chancellor of the Colombo University, Professor W. D. Lakshman will chair this committee, media reports said, quoting President’s Media Division. Other members include Professor Sirimevan Colombage from […]
Sri Lanka hikes premium fuel prices
Aug 10, 2018 (LBO) – Sri Lanka has increased the prices of petrol (95) by 2.00 rupees to 167 rupees and super diesel by 1.00 rupee to 130 rupees, the Finance Minister announced a short while ago.“Although international fuel prices came down last month, there was uncertainty in the Middle East and last week prices were […]
Technical Cooperation Project from JICA for development of Kandy
Aug 10, 2018 (LBO) – The Urban Development Authority (UDA) of Sri Lanka and Japan International Cooperation Agency (JICA) have been working together since February 2017 to formulate the urban development vision, plan and design guidelines with the objective of realizing Kandy’s unique socio-economic potential while preserving its ancient heritage. An urban planning expert team from […]
CB Governor says bank deposit and lending rates need to come down
Aug 08, 2018 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy expressed concern on the current deposit and lending rates of the banks. Speaking at a press briefing, Coomaraswamy said it is a matter of some concern because the deposit and lending rates are as rigid as they were in the past. “In fact […]
President invites all to join hands and achieve sustainable development goals
Aug 08, 2018 (LBO) – Achieving sustainable development goals is to make the country and the nation victorious, Sri Lanka’s President Maithripala Sirisena said and invited all citizens including political leaders, academics, private sector, entrepreneurs and school children to join hands to achieve success in attaining these goals. He made these remarks participating in the launching […]
Sri Lanka President says “NO” increase of salaries for Ministers and MPs
Aug 07, 2018 (LBO) – President Maithripala Sirisena says even though the Sunday newspapers published that the decision was made to increase the salaries of the Ministers and MPs by the consent of all the party leaders, it should be submitted to the cabinet and that he would never allow it to be approved. President […]
‘s female unemployment on the rise
Aug 06, 2018 (LBO) – Sri Lanka’s unemployment in the first quarter of 2018, rose to 4.5 percent, up from 4.1 percent a year earlier, with female unemployment up to 7.4 percent in the quarter from 6.5 percent in 2017, official data shows. The estimated economically active population is about 8.3 million in the first quarter 2018. Of […]
Sri Lanka keeps rates unchanged
Aug 03, 2018 (LBO) – Sri Lanka has decided to keep policy rates unchanged with the aim of stabilising inflation at mid-single digit levels in the medium term, thereby contributing to a high and sustainable growth trajectory of the island economy. “In arriving at its decision, the Board carefully considered the current and expected domestic […]
Finance Min calls for new regulatory body for Microfinance industry
Aug 03, 2018 (LBO) – Sri Lanka’s Finance Minister said that he is proposing the establishment of a new microfinance regulatory authority together with mandatory registration for the companies and amendments to the Act. “This is a national tragedy. It needs to be addressed in layers,” Mangala Samaraweera, Minister of Finance told reporters in Colombo, Thursday […]
Govt nod to call for bids in Mannar, Cauvery basins for oil exploration
Aug 01, 2018 (LBO) – Sri Lanka’s cabinet of ministers has given the go ahead to call for bid from international companies to explore oil and gas deposits in the north-western Mannar and Cauvery basins, a statement said. Experts have revealed that initial studies on offshore exploration, development and production activities in the two basins have […]