Category: Economy and Markets
Final decision on VAT next week, says State Finance Minister Lakshman Yapa
Apr 01, 2016 (LBO) – The final decision on Value Added Tax will be taken by next Friday, State Finance Minister Lakshman Yapa Abeywardena told LankaBusinessOnline a short while ago. “No decision has been taken yet. It will be decided next Friday,” Abeywardena said. Inland Revenue Department has issued a notice to the VAT registered […]
Sri Lanka’s BOI signs 16 agreements for first 2 months of 2016
Apr 01, 2016 (LBO) – The Board of Investment of Sri Lanka has signed 16 new project agreements for the first two months of this year. The said agreements represent a cumulative future investment of 110 million US dollars, the BOI said in a statement. The investment office further said these projects will be generating […]
Truth behind USD 6,361mn loans of this government: Harsha de Silva
Apr 01, 2016 (LBO) – Sri Lanka’s Deputy Foreign Minister Harsha de Silva has denied the allegations that present government is taking huge loans but not utilizing the same for any productive purpose. The opposition recently charged the present government has taken 6,361 million US dollars in foreign loans in its fifteen-month lifespan thus far but […]
I practiced strict financial discipline & management, says President
Apr 01, 2016 – Sri Lanka’s President Maithripala Sirisena says he has fulfilled his duties and responsibilities in an appropriate manner during the last year when it comes to financial discipline and management of the country. It is the responsibility of the politicians and public officials to pay more attention to financial discipline and management, […]
Colombo inflation accelerates 2.0-pct in March 2016
Mar 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 2.0 percent in March 2016 from a year earlier, down from 2.7 percent in February 2016 with the inflation index dropping 1.1 percent in the month, the state statistics office said. As per the statistics office, Year on year inflation of […]
Sri Lanka’s unemployment at 4.3-pct in 4Q 2015
Mar 31, 2016 (LBO) – Sri Lanka’s statistics office said unemployment rate for the fourth quarter of 2015 has been estimated as 4.3 percent against the 5.0 percent reported for the third quarter of 2015. Releasing Sri Lanka’s Labour Force Survey results for the last quarter of 2015, Census and Statistics Department said estimated economically […]
PTL Watch: Sri Lanka bond yields drop further after auction
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Sri Lanka technology pioneers to speak at “LBR LBO Enterprise Summit 2016”
Mar 31, 2016 (LBO) – Despite being a developing country, Sri Lanka has created a number of technology leaders and innovators of international repute. When we consider that basic infrastructure is lacking in some parts of the island, this is a contradiction. And yet, Sri Lankans are familiar with this contradiction. Pioneers such as Kris […]
‘s GDP seen up 5.3-pct in 2016, investment to rise, says ADB
Mar 31, 2016 (LBO) – Sri Lanka’s gross domestic product (GDP) growth is expected to rise to 5.3 percent in 2016 as private sector investment picks up once fiscal reforms are committed , a new Asian Development Bank (ADB) report says. “Fiscal consolidation is to be put back on track by a revision of the […]
PTL Watch: Bond activity up, interest in long tenors
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Fitch upgrades Hemas Holdings to AA-; outlook stable
Fitch Ratings has upgraded Sri Lanka-based Hemas Holdings PLC’s (Hemas) National Long-Term Rating to ‘AA-(lka)’ from ‘A+(lka)’. The Outlook is Stable. It has also upgraded the National Long-Term Rating on Hemas’s senior unsecured debentures to ‘AA-(lka) from ‘A+(lka)’. The upgrade reflects the company’s improved business risk profile, which is aided by its strong presence in […]
Cost Management Maturity Model introduced to Sri Lanka
Mar 30, 2016 (LBO) – The first ever ‘Total Cost Management Maturity Model’ practice has been introduced to Sri Lanka by the Confederation of Indian Industry’s Total Cost Management (TCM) division. The signing of the MOU between Institute of Certified Management Accountants of Sri Lanka (CMA) and TCM was held recently at a cost accountants’ […]