Category: Economy

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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 […]

Dec 10, 2014 (LBO) – Sri Lanka’s Securities and Exchange Commission’s chief said that, stock market is an alternative financial tool to raise capital for business activities and therefore Northern Province should take advantage of it and derive the benefits of capital market investments. More than 250 participants including professionals, academics and the business community […]

Dec 07, 2014 (LBO) – The Government of Sri Lanka reduced the prices of fuel and gas with effect from midnight Friday, a media report said. The price of a 12.5 kilogram domestic gas cylinder have been reduced by 250 rupees. Price of a liter of petrol and diesel have been reduced by seven rupees […]

Dec 05, 2014 (LBO) – Sri Lanka’s economy is stable and moving towards reducing poverty in the Island, Central Bank Governor, Ajith Nivard Cabraal said. He said electricity, road development and better income is needed to achieve this target. In 2005, only 72 percent of the county’s population were given electricity and 28 percent haven’t […]

Dec 01, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track, completing 07 banks and finance and leasing companies’ (NBFIs) given approval for mergers and recapitalization during November 2014 and another 22 NBFIs and 4 banks are in progress for completion in due course, the Central Bank said. One-to-one meetings chaired by the […]

Dec 01, 2014 (LBO) – Sri Lanka’s Central Bank says that the foreign banks in Sri Lanka are expected to show greater participation in economic activities. Foreign banks in Sri Lanka are expected to demonstrate a greater participation in economic activities and to make significant contribution to the economy, Central bank said in a recent […]