Category: Policy
Rare positive correlation between stocks and bonds in US, China
Aug 29, 2015 (LBO) – A rare positive correlation was seen between equities and bonds this week with China’s equities plunging and demand for 30-year US treasuries falling at the same time. On Tuesday and Wednesday, when US equity markets were tumbling, demand for 30-year US Treasury bonds fell, the opposite of what happens when […]
Interview: Sri Lanka BOP pressured by consumer spending, external woes
Aug 28, 2015 (LBO) – Post-war stimulus packages by Sri Lanka’s government have pushed up consumption demand which is now having an adverse impact on the trade deficit and balance of payments. This is one reason for the negative BOP position so far this year, Shiran Fernando at Frontier Research said. “We are in consumption […]
Finance ministry calls for proposals for 2016 budget
Aug 27, 2015 (LBO) – Sri Lanka’s Ministry of Finance has requested public and private sector institutions and the general public to submit proposals for inclusion in the proposed budget for 2016.Building the economy, fighting corruption, ensuring freedom, developing infrastructure and investment and developing education are the new government’s “five point plan spelled out in […]
Election Outcome Improves Ability to Pass Reforms: Moodys
Aug 24, 2015 (LBO) – Sri Lanka’s UNP-led national unity government which includes the Sri Lanka People’s Freedom Party, the second-largest political party in parliament, is credit positive for Sri Lanka because the government can now more easily enact policies that revive growth and address its large fiscal burden, rating agency Moodys said. “This would […]
Major Sri Lanka reforms in first six months: policy maker
Aug 24, 2015 (LBO) – Sri Lanka’s newly elected national unity government will make major reforms in the period of first six months to make the economy more competitive, Harsha de Silva, Member of Parliament and former deputy minister of policy planning and Economic affairs said.“Our competitiveness as a nation has fallen in recent years,” […]
Sri Lanka to prioritize food production, environment and drug eradication in first cabinet meeting
Aug 21, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena says he will present proposals for national programs to be implemented for local food production, environmental preservation and drug eradication, at the first meeting of the new cabinet.According to the proposal, local food production programmes which make the country self-sufficient will be implemented in several […]
Sri Lankan cricketer Sangakkara new Brand Ambassador for anti-drug crusade
Aug 19, 2015 (LBO) – Sri Lanka’s legendary cricketer Kumar Sangakkara has been appointed as the brand ambassador of the National Dangerous Drugs Control Board on Wednesday at the President’s Official Residence.Expressing his views, Sangakkara said that he will extend every possible support to eradicate the drug menace from society which destroys the lives of […]
Sri Lanka’s BOI to apply provisions of 2006 to avoid confusions on investments
Aug 04, 2015 (LBO) – Sri Lanka’s Board of Investment on Monday clarified their position with regard to the confusions aroused after the mini budget overruled the previous budget.2015 budget presented by former administration included proposals to be effective from this tax year which starts from 01 April 2015.Even though certain other tax proposals required […]
Sri Lanka businesses urged to practice good governance : IFAC President
July 29, 2015 (LBO) – Sri Lanka’s business organization should practice good governance to build next level businesses and to support country to move ahead, Olivia Kirtley, president of the International Federation of Accountants said.“Sri Lanka is one of the fastest growing market in the South Asia region and economic outlook for Sri Lanka seems […]
Sri Lanka’s SEC says transparency of information is the key for development
July 27, 2015 (LBO) – Sri Lanka’s Securities Exchange Commission says that transparency enhancement leads to improve the performance of companies and enables businesses in becoming magnets for inward investment and more resilient in the face of future challenges. “Markets move on information,” Thilak Karunaratne, Chairman, Securities & Exchange Commission of Sri Lanka said. “The […]
Sri Lanka private sector credit growth expands, Policy rates to be maintained: Central Bank
July 24, 2015 (LBO) – Sri Lanka Central Bank says credit to the private sector by commercial banks grew by 17.6 per cent, year-on-year, in May 2015, given the low interest rate environment in the Island. In absolute terms, credit to the private sector expanded by 48.6 billion rupees in the month of May and […]
BRICS Development Bank To Counter Western Lenders
July 22, 2015 (LBO) – The BRICS group of emerging economies launched its New Development Bank (NDB) in Shanghai on Tuesday with the promise of more financial security to its member states and developing countries. Set up by Brazil, Russia, India, China and South Africa, it is seen by many as a counter to the […]