Category: Economy and Markets
Sri Lanka Bank of Ceylon debenture demand strong: officials
Nov 14, 2012 (LBO) – A sale of 5-year debenture of up to 6. 0 billion rupees by state-run Bank of Ceylon, due to open on November 15 has seen strong demand and is expected to close quickly, an official said. P A Lionel, deputy general manager treasury and investments of Bank of Ceylon said […]
Sri Lanka Treasuries yields up on longer end
Nov 14, 2012 (LBO) – Sri Lanka’s Treasuries yield rose as much as 08 basis points to 12. 73 percent for the 12-month maturity but the 3-month yield fell 01 basis point to 10. 67 percent, data from the state debt office showed. The 6-month yield rose 03 basis points to 12.05 percent. The debt […]
” rating confirmed
Nov 13, 2012 (LBO) – Fitch Ratings said a ‘BBB(lka)’ rating of Senkadagala Finance has been confirmed with a stable outlook. “SFC’s rating reflects its long operating history and good credit profile which has been maintained through economic cycles, supported by sound credit controls, low refinancing risk and high profitability,” the rating agency said. “However, […]
Sri Lanka state jobs created for tens of thousands unemployable graduates
Nov 12, 2012 (LBO) – Sri Lanka has created 21,463 new posts in ministries up to August 2013 out of which 18,128 were for unemployable graduates educated at tax payer expense, data released under a fiscal management law shows. In 2009 44,532 new posts were created including 40,095 in departments, 1,769 in ministries, 1,641in provincial […]
Sri Lanka issues silver coin to mark relations with Japan
Nov 12, 2012 (LBO) – Sri Lanka will issue a silver commemorative coin with a face value of 1,000 rupees to mark 60 years of diplomatic relations with Japan, the Central Bank said. Minted at the Japan Mint, it has a diameter of 35 millimetres and weighs 20 grams. The obverse of the coin has […]
‘s top lender, India gives most grants to Aug
Nov 10, 2012 (LBO) – China was Sri Lanka’s top lender up to August 2012 disbursing 443. 6 million US dollars in loans and export credits and India has give the most amount of grants followed the United States and Japan, finance ministry data shows. The finance ministry’s fiscal management report shows that China has […]
Sri Lanka ups protectionism in autarkist budget
Nov 09, 2012 (LBO) – Sri Lanka has upped protectionist taxes in foods and building materials allowing more profits for producers allowing producers as citizens try to eat and build homes for themselves. Raising import duties allows producers to engage in tax arbitrage, the act of collecting as profits the equivalent of amount of tax […]
Sri Lanka expects strong revenues, record domestic borrowings in 2013
Nov 09, 2012 (LBO) – Sri Lanka is expecting to grow revenues by an optimistic 19.2 percent to 1.25 trillion rupees cut foreign borrowings by 55 percent and ratchet up domestic borrowings by a record 64 percent to 421 billion rupees, a budget for 2013 shows. In 2013, Sri Lanka is expecting to run a […]
Sri Lanka chamber backs budget targets, calls for rule of law
Nov 09, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it was encouraged by government plans to cut the budget deficit which will help create a stable economy which will allow economic targets to be achieved. “Prudent monetary policies and the maintenance of fiscal discipline are required if the medium term macro targets […]
Sri Lanka raises state worker salaries, pensions
Nov 08, 2013 (LBO) – The Sri Lankan government plans to raise salaries of workers in the overstaffed state sector with the increases being staggered to limit inflationary pressures, according to the budget for 2013. President Mahinda Rajapaksa, who is also finance minister, told parliament he plans to increase allowances given to public servants by […]
Sri Lanka growth expected to recover to 7.5-pct in 2013: Central Bank
Nov 08, 2012 (LBO) – Sri Lanka’s economy will expand 7. 5 percent in 2013 after slowing to 6. 8 percent in 2012 helped by a global recovery, monetary easing and better weather for agriculture, the Central Bank said. The budget deficit which was targeted at 6.2 percent of gross domestic product for 2012 had […]
Sri Lanka to keep budget deficit at 5.8-pct in 2013: President
Nov 08, 2012 (LBO) – Sri Lanka will keep the budget deficit at 5. 8 percent of gross domestic product in 2013, and a 2012 target of 6. 2 percent will be maintained despite falling import tax revenues, President Mahinda Rajapaksa said. President Rajapaksa who is also finance minister said national debt will be maintained […]