Category: Economy
Sri Lanka’s business Chamber urges speedy election; Political uncertainty driving investors away
Apr 19, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of commerce says, the prevailing political uncertainty impacts negatively on the economic and business environment in the Island and to restore confidence and attract investment, parliamentary elections must be held expeditiously. The chamber says even though it appreciates the diverse positions taken on the forthcoming general […]
Sri Lanka’s 100 day programme to be observed by IMF, ready to support in future: Finance Ministry
Apr 18, 2015 (LBO) – Sri Lanka’s new government’s 100 day programme would be closely observed by the International Monetary Fund (IMF), a statement released by the Finance Ministry said.“The IMF is pleased to see the reliefs that the new rulers have provided for people though the 100 day programme and would like to provide […]
South Asia, fastest growing region; will grow at 7-pct in 2015: World Bank
Apr 17, 2015 (LBO) – South Asia is expected to grow at 7 percent in 2015, picking up pace to 7.6 percent by 2017 as more productive capital is brought on stream, a World Bank report said. “South Asia is set to become the fastest growing region with the region expected to grow at 7 […]
‘s group concerned over Chinese funded port city project
Apr 17, 2015 (LBO) – Sri Lanka’s citizen’s group, Friday Forum has expressed concern about a recent controversial Chinese funded project and said full disclosure is needed on the 1.4 billion project. “The Friday Forum calls upon the government to immediately place in the public domain the details of all agreements, assessments and regulatory determinations […]
Sri Lanka advised to attract FDI, in order to maintain high growth rate: World Bank
Apr 17, 2015 (LBO) – Sri Lanka is advised to attract more foreign investments to keep up with its high growth rate due to the Island’s limitation on public and private national savings compared to national investment, a newly released World Bank report said.“With limited public and private national savings compared to national investment, Sri […]
Sri Lanka cuts policy rates: Inflation declines due energy price revision and consumer items:Central Bank
Apr 15, 2015 (LBO) – Sri Lanka has cut policy rate corridor by 50 basis points lowering its repo rate to 6.00 percent and reverse repo rate to 7.50 percent with effect from today, to boost credit and investment, the Central Bank said. “Current behaviour of market interest rates is viewed to be inconsistent with […]
‘s success story can’t be copied and pasted on another”: IMF Mission Head
Apr 12, 2015 (LBO) – Georgia, once plagued with rampant corruption is lauded by World Bank today as the world’s number one economic reformer. Georgia, a country of 4. 5 Million population with a per capital GDP of USD 6,100 was once considered one of the most corrupted countries in the region. One had to […]
Sri Lanka’s Rajapakse regime used Rs375mn state lottery money for election campaign
Apr 10, 2015 (LBO) – Sri Lanka’s former rulers, the Rajapakse regime has used 375 million rupees from the state lottery board to fund the presidential election campaign, National Lottery Board said. “We have started an audit at the National lottery board,” Shyamala Perera, newly appointed Chairperson of National Lottery Board told reporters at a […]
Sri Lanka looks at cheaper international borrowings : Ravi Karunanayake
Apr 10, 2015 (LBO) – Sri Lanka is looking at cheaper borrowing from the international market, Finance Minister Ravi Karunanayake said.“Yes we are considering that,” Karunanayake said. Sri Lanka’s Total Debt to Gross Domestic Product (GDP) ratio increased to 88.9 percent from reported 74.4 percent of the government debt by the end 2014, the Finance […]
Sri Lanka government’s 100 day programme gets UN support
Apr 09, 2015 (LBO) – The visiting United Nation’s assistant secretary-general and United Nation Development Plan’s regional director Haoliang Xu, had said that the UN and UNDP in particular is pleased to continue to it’s support for the 100 Day Programme, at the request of the Government.Xu made this comment at a discussion held with […]
Sri Lanka Treasury bill yields up: Central Bank
Apr 08, 2015 (LBO) – Sri Lanka’s Treasury yields were up on Wednesday’s auction with the increase of 12-month yield from 14 basis points to 6.90 percent, data from the state debt office showed.6-month yield was also up at 6.83 percent from 15 basis points and 11,200 million rupees were accepted from 20,150 million rupees. […]
UN to support development indicators of Sri Lanka
Apr 07, 2015 (LBO) – The Visiting United Nation’s assistant secretary-general and United Nation Development Plan’s regional director Haoliang Xu, had said that the UN and UNDP in particular would be ready to extend support to developing country specific development indicators that will contribute to the post-2015 development agenda. He said this at a discussions […]