Category: Economy and Markets
Sri Lanka to maintain mid-single digit inflation levels till end 2015: Central Bank
May 5, 2015 (LBO) – Sri Lanka is expected to maintain single digit inflation until end 2015 and inflation is expected to be maintained in the range of 3-5 per cent in the medium term, Central Bank annual report 2014 said. Meanwhile, annual consumer price inflation is projected at 3.0 per cent in 2015 and […]
Sri Lanka’s BOI to undergo culture and thinking pattern change to up investment
May 05, 2015 (LBO) – Sri Lanka’s investment promotion office, Board of Investment plans to change its culture and thinking pattern to fast track the investment approval procedure in the Island.“What we are trying to change is the overall thinking pattern and the culture where we present ourselves more like a facilitation agency than a […]
Sri Lanka to develop a new policy for investment: BOI Chief
May 05, 2015 (LBO) – Sri Lanka’s Board of Investment said, that it is developing a new policy framework for investments with the help of a panel of experts. “We are in the process of creating an economic investment policy for Sri Lanka,” Upul Jayasuriya, Chairman of BOI told reporters at a briefing held last […]
‘s Central Bank to open a regional office in Kilinochchi
May 04, 2015 (LBO) – The Central Bank of Sri Lanka will be opening its regional office in in Ariviyal Nagar, Kilinochchi on 06th of May, a statement said. The bank will declared open by Minister of Resettlement, Reconstruction and Hindu Affairs D M Swaminathan and Deputy Minister of Policy Planning, Economic Affairs, Child, Youth […]
Sri Lanka stocks close up 0.08-pct
Apr 30, 2015 (LBO) – Sri Lanka’s stocks closed higher at 0.08 percent with the banking sector stocks trading actively, brokers said. The Colombo benchmark All Share Price Index closed 5.63 points higher at 7,179.00 up 0.08 per cent. The S&P SL20 closed 5.01 points higher at 4,053.45 up 0.12 per cent. “The day’s trading […]
‘s inflation stable at 0.1-pct in April
Apr 30, 2015 (LBO) – Sri Lanka’s consumer prices rose 0.1 percent in April 2015 from a year earlier, against the 0.1 percent recorded in March, the central bank said.The Colombo Consumer Price Index accelerated 0.2 percent in the month, after recording a 0.4 percent negative acceleration in March. The Index gained 0.4 points in […]
Sri Lanka’s BOI sign MOU with UK publishing firm
Apr 30, 2015 (LBO) – Sri Lanka’s Board of Investment signed a memorandum of understanding with Oxford Business Group (OBG), a publishing firm in United Kingdom yesterday to publish a report on investment opportunities and current drivers of economic growth in the Island. “Over past few months OBG was receiving invites from our core clientele […]
Sri Lanka’s business chamber welcomes Constitutional amendments but cautious about committee stage amendments
Apr 30, 2015 (LBO) – Sri Lanka Ceylon Chamber of Commerce welcomes the enactment of the 19thAmendment to the Constitution, to improve democratic ideals but cautions that the committee stage amendments to increase the number of Parliamentarians in the composition of the Constitutional Council has the potential to compromise its independence. In a statement Ceylon […]
Sri Lanka’s Central Bank to get US$400mn currency swap today
Apr 30, 2015 (LBO) – Sri Lanka’s Central bank said, that a 400 million US dollar currency swap by the Reserve Bank of India will be available to the Island today.Accordingly, a currency swap agreement between the two Central Banks was signed on 25th March, this year whereby 400 million US dollars was made available […]
Sri Lanka economy grows 7.4-pct in 2014; fiscal deficit increases: CB Annual Report
Apr 29, 2015 (LBO) – Sri Lanka’s economy has grown 7.4 percent in 2014 despite overall fiscal deficit has increased to 6 percent last year, releasing the 2014 annual report, the Central Bank said. “The government aimed to reduce the fiscal deficit to 5.2 per cent of GDP in 2014 from 5.9 per cent of […]
‘s Chamber of Commerce welcomes 19th amendment; concerns over constitutional council
Apr 29, 2015 (LBO) – Sri Lanka’s Chamber of Commerce has welcomed the enactment of the 19th amendment to the constitution saying it improves democratic ideals. Issuing a press release the Chamber has hailed the crucial roles played by the President, Prime Minister and the leaders of all political parties in arriving at a consensus; […]
Sri Lanka’s growth model needs to be modified: Economist
Apr 29, 2015 (LBO) Sri Lanka needs to rethink its growth model as the current system is severely constrained due to the Island’s fragile debt dynamics, a senior economist said. Over the last 6 7 years, Sri Lanka’s growth model has been based on commercial external borrowing led infrastructure development, Indrajit Coomaraswamy, Deputy Chairman of […]