Category: Economy and Markets
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
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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
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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 […]
Sri Lanka budget deficit climbs, economy at USD82.3 billion
Highlights from press conference: – Budget deficit climbs to 7.4% in 2015 vs 5.7% in 2014 – Economy valued at $82.3 billion – Balance of payments deficit at $1.48 billion in 2015 – Credit to private sector 26.5% in Feb vs 25.7% in Jan – Technical agreement with IMF could be finalized this week Apr […]
US based Millennium Challenge Corp holds discussions with Ceylon Chamber
Apr 26, 2016 (LBO) – A delegation from the Millennium Challenge Corporation, a US Government agency, held discussions with the Ceylon Chamber of Commerce, during their recent visit to the country. The delegation was met by the Chairman of the Ceylon Chamber of Commerce Mr. Samantha Ranatunga, The Board Director, Mr. Vish Govindasamy, CEO of […]
Sri Lanka holds rates unchanged after policy meeting
Apr 26, 2016 (LBO) – Sri Lanka’s monetary board held interest rates unchanged after a monthly policy meeting to allow time for recent tightening to take its course. “Considering the fact that the Central Bank has already adopted measures to tighten monetary policy by raising the Statutory Reserve Ratio (SRR) and policy interest rates, and […]
PTL Watch: Yields tick higher, locals on selling side
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A new political culture will be introduced after May 01: President
Apr 26, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena says he will introduce a new political programme in the country after May 01 and take several new political decisions for the betterment of the country and its people. “These decisions will help to prevent the corrupt forces, who used state powers and assets in an […]
Swedish Foreign Minister, companies meet Sri Lankan businesses
Apr 26, 2016 (LBO) – Swedish Foreign Minister Margot Wallström met Sri Lankan government and business representatives together with representatives of several top Swedish companies at a discussion on cooperation for sustainable urban development on Monday. Swedish companies such as ABB, Axis Communications, Ericsson, Icomera, Saab, Scania and Volvo were represented, while officials of several […]