Category: Economy and Markets
’s economy grew 7.8 pct in 2014 and targets 8 pct growth in 2015: Central Bank
Jan 03, 2014 (LBO) – Sri Lanka’s economy grew about 7.8 percent in 2014, the Central Bank Governor Ajith Nivard Cabraal said. Exports grew 10 percent to 11.5 billion US dollars in 2014. Textile and Garment, Tea and Coconut mainly contributed to the growth in exports. Imports increased 7.8 percent to 19.4 billion US dollars […]
’s Samurdhi payments are mostly politically driven: Governor
Jan 03, 2014 (LBO) – Sri Lanka’s Governor Nivard Cabraal said that Island’s Samurdhi (prosperity) income re-distribution scheme is mostly politically driven. The poverty headcount ratio have declined and recorded 6.7 percent in 2012/2013 data showed. It was reported 8.9 percent ratio in 2009/2010. In the western province, where infrastructure is plentiful and markets accessible, […]
‘s inflation is at 2.1-pct in December 2014: Central Bank
Jan 01, 2015 (LBO) –Sri Lanka inflation up to 2.1percent in December 2014 from to 1.5 percent in November 2014, the Central bank of Sri Lanka said in a media release. The data is based on the change in the Colombo Consumers’ Price Index (CCPI) (2006/07=100), which is computed by the Department of Census and […]
Sri Lanka‘s Colombo Stock Exchange records 105.8 million foreign purchases in 2014
Jan 01, 2015 (LBO) – Sri Lanka’s Colombo stock exchange (CSE) has reported 105,812. 5 million rupees of foreign purchases as at 31st December 2014, the CSE said in a media release. In 2014 the S&P SL20 crossed the 4000 mark for the first time since its launch, market capitalization reached 3 trillion rupees closing […]
Korea Exim bank to loan USD 79 mn for water supply projects in Sri Lanka
Dec 31, 2014 (LBO) – The Export-Import Bank of Korea signed a total 79 million dollars’ worth Economic Development and Cooperation Fund (EDCF) loan agreement with the Ministry of Finance and Planning of Sri Lanka to decrease the incidence of water borne diseases. The fund will be allocated to set up water supply systems in […]
Sri Lanka Treasury bill yields flat
Dec 23, 2014 (LBO) –Sri Lanka’s Central Bank re-issued of 12,000 million rupees maturing Treasury bills was oversubscribed with bids amounting to 36,335 million rupees being received, data from the state debt office showed.The 12-month yield increased at 6.01 percent from 6.00 percent at the previous auction, and 10,960 million rupees were accepted data from […]
’s Central bank to provide 12 pct interest scheme for senior citizens
Dec 30, 2014 (LBO) – Sri Lanka’s Central Bank to provide 12 percent annual interest rate scheme for deposits of citizens over 60 years of age, who maintain fixed deposits totaling up to 2,500,000 rupees in licensed banks, will be eligible to receive an annual interest income of up to 300,000, rupees with effect from […]
Sri Lanka SEC sets directive on IPO price
Dec 23, 2014 (LBO) – Sri Lanka Security Exchange Commission (SEC) issued a directive to be included in the Colombo Stock Exchange listing rules, which will further strengthen the SEC’s mandate for protecting investors, SEC said in a statement. Media Statement Reproduced Prior to this, entities were not required to disclose the basis of the […]
Sri Lanka economy will grow irrespective of prevailing political situation in the Island : Official
Dec 16, 2014 (LBO) – Sri Lanka’s economy will grow irrespective of political out come in the Island, an official said. Sri Lanka will held a presidential election on 8th of January next year. Growth in the gross domestic product (GDP) of Sri Lanka was consistently robust in the first half of 2014 to 7.6 […]
’s growth relies on tapping in to global markets, says Economist
Dec 12, 2014 (LBO) – Sri Lanka’s economic growth will be driven by tapping into global market through exporting high value manufacturing products, agricultural products and services, a senior economist said. Sri Lanka is a 67 billion dollar economy, which I think not large by any strategy imagination, Deshal de Mel, Senior Economist of Hayleys […]
Sri Lanka policy rates unchanged: Inflation declines due to crude oil prices: Central Bank
Dec 12, 2014 (LBO) – Sri Lanka Central Bank says the current monetary policy stance is appropriate and accordingly decided to unchange the policy rate corridor at 6.50 percent to 8.00 percent, respectively. The impact of the contraction in pawning advances on the overall credit growth that was observed since early 2013 has now ended, […]
Belarus removes tax for Sri Lanka exporters
Dec 11, 2014 (LBO) – Sri Lanka has been removed from the list of off-shore countries from Belarus, benefiting Sri Lankan exporters a 15 percent tax waiver out on remittance of their export earnings back to Sri Lanka, Minister of Industry and Commerce of Sri Lanka said in a media a release. The total trade […]