Category: Economy and Markets

Inflation

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 […]

IMF

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 […]

Nandalal_Weerasinghe_Deputy_Governor_CBSL_Central_Bank

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 […]

Colombo-Sri-Lanka

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 […]

Oil hits 6-month high, speculation on OPEC-Russia deal

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 […]

Sri Lankans named in Panama Papers expected in May

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?

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 […]

central bank of sri lanka

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 […]

Ceylon-Chamber-of-Commerce

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 […]

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