Category: Economy and Markets
‘s inflation rate climbs to 17.7% in June
June 30, 2006 (LBO) – Sri Lanka’s inflation rate for June jumped to 17.7 percent, official figures showed Friday, spurring concerns that the Central Bank may hike interest rates again. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in violence, as sporadic attacks on […]
Sri Lanka expects economy to expand by 8% this year
June 30, 2006 (LBO) – Sri Lanka’s economy is expected to grow by a better-than-expected 8.0 percent, this year a senior government official said a day after the central bank forecasted year end growth of 7.0 percent. The bank cautioned that economic expansion would remain vulnerable to an upsurge in violence, as sporadic attacks on […]
Sri Lanka’s inflation rate climbs to 17.7% in June
June 30, 2006 (LBO) – Sri Lanka’s inflation rate for June jumped to 17.7 percent, official figures showed Friday, spurring concerns that the Central Bank may hike interest rates again. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in violence, as sporadic attacks on […]
‘s economic drive: World Bank
June 29, 2006 (LBO) – Sri Lanka’s deteriorating security situation is undermining growth and slowing the island’s attempts to snap out of the poverty trap, a top World Bank official said Thursday. “The political situation and the sustained violence in the recent past are undermining the potential for growth,” the bank’s country head designate for […]
‘s economy expands 8.1% first quarter: Central Bank
June 29, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy expanded by 8.1 percent during the first quarter of this year, ahead of a recent government forecast of 7.0 percent, the Central Bank said Thursday. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in […]
Sri Lanka central bank responds to media reports over superannuation fund.
June 29, 2006 (LBO) – Sri Lanka’s Central Bank, which is the custodian of the superannuation fund of the country’s private sector workforce said it’s the 405 billion rupee fund has been giving returns higher than bank deposits, and member balances were safe. The bank said it was responding to recent media reports. Central Bank […]
Killings slow Sri Lanka’s economic drive: World Bank
June 29, 2006 (LBO) – Sri Lanka’s deteriorating security situation is undermining growth and slowing the island’s attempts to snap out of the poverty trap, a top World Bank official said Thursday. “The political situation and the sustained violence in the recent past are undermining the potential for growth,” the bank’s country head designate for […]
Sri Lanka’s economy expands 8.1% first quarter: Central Bank
June 29, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy expanded by 8.1 percent during the first quarter of this year, ahead of a recent government forecast of 7.0 percent, the Central Bank said Thursday. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in […]
Sri Lanka needs to shake off its welfare state mentality: World Bank
June 26, 2006 (LBO) — Sri Lanka’s economic programmes must be protected from the political uncertainties of delicate coalitions and resolve the ethnic conflict, if it needs to make headway to tackle widespread poverty, the World Bank said Monday. “The more endemic problem is the attitude of entitlements associated with the popular perceptions that Sri […]
”’
June 26, 2006 (LBO) – Singer (Sri Lanka) Ltd secured a A+(lka) ratings for their upcoming four-year 600 million rupee debenture from Fitch Ratings Lanka, the rating agency said Monday. Fitch also affirmed Singer’s outstanding debentures: • 200 million rupees 2004/2008 • 250 million rupees 2004/2008 • 300 million rupees 2005/2009 • 400 million rupees […]
”’ rating
June 26, 2006 (LBO) – Fitch Ratings Lanka on Monday assigned a ‘BBB-(lka)’ rating for People’s Merchant Bank’s long-term debt, citing its parental backing and conservative management techniques, as a reason for it. “The rating reflects the potential support from its shareholders particularly People’s Bank (rated ‘A-(lka)’, which currently owns 39.0 percent of PMBs shares […]
‘s balance of payments
June 22, 2006 (LBO) – The Bank of Ceylon is to increase foreign borrowings to 400 million dollars this year, to boost Sri Lanka’s balance of payments and give more fiscal space for the government, a senior government source said.The bank has already called for proposals from foreign banks to raise 200 million dollars through […]