Category: Economy and Markets
Economy grows 5.7% for first six months, Central Bank keeps year end target intact despite oil shock
Sri Lanka’s economy slowed down to 5.2 percent for the second quarter of 2004 dragged down by slower factory output for export goods and a prolonged drought, the Central Bank said Thursday.Sri Lanka’s economy slowed down to 5.2 percent for the second quarter of 2004 dragged down by slower factory output for export goods and […]
BOI woos Singaporeans to invest in Sri Lanka
Singapore is set to become the biggest foreign investor in Sri Lanka over the next few years as the country moves to end a decades-long ethnic war.Singapore is set to become the biggest foreign investor in Sri Lanka over the next few years as the country moves to end a decades-long ethnic war. A shopping […]
Sri Lanka’s balance of payments balloons to US$ 223 mn for the six months ending June 2004
Sri Lanka has reported a bigger than expected balance of payment deficit of US$ 223 mn for the six months ending to June, amid higher world oil prices and a falling rupee, the Central Bank said Monday.Sri Lanka has reported a bigger than expected balance of payment deficit of US$ 223 mn for the six […]
Treasury says spending will be increased next year with pay hike for public servants and more money for public investment
In the first in a series leading up to the November budget this week we take a closer look at government expenditure. In the first in a series leading up to the November budget this week we take a closer look at government expenditure. Treasury says spending will be increased next year with pay hike […]
Central Bank says non-bank private sector has the capacity to absorb over Rs.100 billion in net borrowing
Central Bank says non-bank private sector has the capacity to absorb over Rs.100 billion in net borrowing but excessive borrowing will crowd out the private sector.Central Bank says non-bank private sector has the capacity to absorb over Rs.100 billion in net borrowing but excessive borrowing will crowd out the private sector. The Central Bank carries […]
USAID puts down US$ 30,000 to help Ampara community
The United States is putting down US$ 30,000 into two projects in the Ampara District, to demonstrate the benefits of peace and reduce incidents of violence in conflict-prone communities.The United States is putting down US$ 30,000 into two projects in the Ampara District, to demonstrate the benefits of peace and reduce incidents of violence in […]
Government to borrow Rs. 72 bn from the market in October
The Central Bank says it will re-issue Rs. 72 bn worth of debt paper to the market, as part of its October borrowing programme.The Central Bank says it will re-issue Rs. 72 bn worth of debt paper to the market, as part of its October borrowing programme. Of the 72,071 mn worth of paper maturing, […]
ADB keeps Lanka’s growth figures intact, but says oil shocks and erratic weather patterns is fanning inflation
The Asian Development Bank kept Sri Lanka’s growth figure at 5.5 percent of GDP but warned that pass through oil shocks and erratic weather conditions is fanning inflation in the South Asian region. The Asian Development Bank kept Sri Lanka’s growth figure at 5.5 percent of GDP but warned that pass through oil shocks and […]
Central Bank mulls guidelines for primary dealers on how they should present their financial statements
The Central Bank’s Public Debt Dept., is contemplating issuing guidelines to primary dealers on how they should present their financial statements. The Central Bank’s Public Debt Dept., is contemplating issuing guidelines to primary dealers on how they should present their financial statements. Primary dealers’ who are the market makers for government debt, currently have to […]
Changing Tide
Treasury Secretary Dr. P B Jayasundara says the government’s mid-term borrowing programmes will avoid crowding out the market, releasing the funds for the private sector to borrow.Treasury Secretary Dr. P B Jayasundara says the government’s mid-term borrowing programmes will avoid crowding out the market, releasing the funds for the private sector to borrow. Jayasundara told […]
The opposition will march on Colombo streets on September 24
The main opposition United National Party, is trying to shake off ‘its sleepy giant image’, with a countrywide street protest against the rising cost of living.The main opposition United National Party, is trying to shake off ‘its sleepy giant image’, with a countrywide street protest against the rising cost of living. The move comes just […]
Central Bank warns subsidies cant continue
The Central Bank of Sri Lanka expressed concern on State sponsored subsidies, but said overall growth remains on track, to ensure there need not be a change in short-term interest rates for September. The Central Bank of Sri Lanka expressed concern on State sponsored subsidies, but said overall growth remains on track, to ensure there […]