Category: Economy and Markets
VAT goes up to 15 pct, threshold reduced: Finance Ministry
May 03, 2016 (LBO) – Sri Lanka’s Value Added Tax (VAT) will be revised up to 15 percent from 11 percent from May 2nd, with pharmaceuticals and education sectors being exempt, the Finance Ministry said. The Wholesale and Retail trade will be eligible for this taxation, although several items are exempted. The threshold for VAT […]
‘s foreign debt servicing rises steadily
May 01, 2016 (LBO) – The amount Sri Lanka has spent on external debt repayment and interest has more than doubled over the last five years, Central Bank data shows. Earnings from exports, however, have not grown as much. Debt service payments increased to 4.7 billion dollars in 2015 from 1.8 billion dollars in 2011, […]
Colombo inflation accelerates 3.1-pct in April 2016
Apr 29, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 3.1 percent in April 2016 from a year earlier, up from 2.0 percent in March 2016 with the inflation index gaining 1.3 percent in the month, the state statistics office said. The Year on Year inflation of Food Group has increased […]
PTL Watch: Sri Lanka bond yields drop on IMF news
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/05/PTL-Daily-Market-Summary-29.04.2016.pdf”]
Sri Lanka’s deal with IMF has 3 benefits for external financing profile: Moody’s
Apr 29, 2016 (LBO) – Sri Lanka’s 1.5 billion US dollars deal announced today with the IMF will have three benefits for Sri Lanka’s external financing profile, issuing a statement Moody’s Investors Service said.Marie Diron, Senior Vice President, Sovereign Risk Group, Moody’s Investors Service, and the lead sovereign analyst for Sri Lanka highlighted the three points as […]
No reason to keep exporter’s money abroad: Central Banker
Apr 28, 2016 (LBO) – Sri Lankan exporters do not have a clear reason to keep their money abroad as the Central Bank has already removed restrictions on foreign currency withdrawals from foreign currency accounts, a senior official said. Deputy Governor of the Central Bank Nandalal Weerasinghe speaking at an event said the exporters will […]
Sri Lanka projected economic growth 5.4-pct in 2016; 5.9-pct in 2017: UNESCAP
Apr 28, 2016 (LBO) – Sri Lanka’s economic growth is projected to gain further momentum, at 5.4 percent in 2016 and 5.9 percent in 2017, newly released 2016 UNESCAP report said. The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) report further said private consumption in Sri Lanka will likely remain […]
PTL Watch: Yields up on thin volumes
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/05/PTL-Daily-Market-Summary-28.04.2016.pdf”]
Oil hits 6-month high, speculation on OPEC-Russia deal
Apr 28, 2016 (LBO) – Oil prices hit six month highs before dipping slightly on mixed reports about inventories. Brent Crude hit a high of 47.05 dollars, but is currently down 0.55 percent at 46.92 dollars per barrel. Oil has risen in recent weeks from market optimism that OPEC and Russia will freeze production at […]
PTL Watch: Yields dip after monetary policy decision
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/04/PTL-Daily-Market-Summary-27.04.2016.pdf”]
Sri Lankans named in Panama Papers expected in May
Apr. 27, 2016 (LBO) – The International Consortium of Investigative Journalists said they will release on May 9th a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation. The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore […]
Fastest population shift in history, opportunity or threat to Asia?
Apr 27, 2016 (LBO) – If countries do not start planning for the rapid Asian demographic change, they will miss out on a unique opportunity to boost growth and investments for the future, a UN report said. The United Nations Development Programme (UNDP) in its latest Regional Human Development Report says that Asia-Pacific countries now […]