Category: Economy

Dec 31, 2012 (LBO) – Sri Lanka’s central bank has cut its Treasury bill holding with a year-end transfer of profits Governor Nivard Cabraal said, in a move that will help avoid any negative effect on inflation, the exchange rate and foreign reserves. “We knocked off Treasury bills with it (profit transfer),” Cabraal said. A […]

Dec 31, 2012 (LBO) – Sri Lanka’s inflation rose 9. 2 percent to in the 12-months to December 2012 from a year earlier, with the Colombo Consumer Price Index rising 0. 9 percent during the month, the state statistics office said. The statistics office said the food sub group in the index from which heavily […]

Dec 25, 2012 (LBO) – Sri Lanka’s prosperity has increased 4. 1 percent in 2011 improving on two earlier years, according to an index which tracks well-being, economic infrastructure and the business climate, the Central Bank said. The Sri Lanka Prosperity Index has risen 4. 1 percent to 60.6 point in 2011 showing a steady […]

Dec 21, 2012 (LBO) – Private enterprise in the United States is transforming its economic structure using available economic freedoms despite excessive state interventions that has delayed a recovery, a top economist has said. “It intervened far too much and misguidedly at home,” Razeen Sally, a former London School of Economics professor who is now […]

Dec 19, 2012 (LBO) – Sri Lanka’s economy expanded 4. 8 percent in the third quarter of 2012 slowing from 8. 5 percent a year earlier with agriculture contracting 0.5 percent, the state statistics office said. Sri Lanka’s gross domestic product was estimated to have grown 8. 3 percent in 2011 and is expected to […]

Dec 17, 2012 (LBO) – Sri Lanka should be careful to have suitable policies to allow economic growth to take off after reaching a target of 4,000 US dollar per person income in 2016, a senior central banker has said. Assistant Governor C P J Siriwardene told a forum of bankers that Sri Lanka was […]

SYDNEY, Dec 17, 2012 (AFP) – Australia announced Monday plans to boost intelligence sharing with Sri Lanka to try to halt a wave of boatpeople that has seen thousands arrive illegally on its shores this year. Foreign Minister Bob Carr, who is in Colombo for a three-day visit, said he would discuss the idea during […]

Dec 17, 2012 (LBO) – Razeen Sally, association visiting professor of Lee Kuan Yew School of Public Policy will speak in Colombo on December 20, Sri Lanka’s Lakshman Kadirgamar Institute for International Relations and Strategic Studies said. He will speak on the ‘Emerging World Order and Sri Lanka’s Role, at the Kadirgamar Institute at Horton […]

Dec 17, 2012 (LBO) – Foreign currency denominated debt is expected to fall as a ratio of current receipts in except for Sri Lanka and Mongolia, where it will remain high, Fitch Ratings said in a report which tracked 12 emerging Asian nations. If the central bank then sterilizes the forex interventions with fresh money […]

Dec 14,2012 (LBO) – Sri Lanka’s recent growth has been strong and ahead some of the fastest growing economies in Eastern Europe, Latin America and Asia, but inflation and national debt has to fall, IMF’s resident representative Koshy Mathai said. Economic growth in the last two year has averaged around 8. 0 percent which was […]

Dec 14, 2012 (LBO) – Sri Lanka’s war refugees will get 1. 9 billion rupees of financial help from the European Union to rebuild 4,000 houses with additional funding from Switzerland and Australia. House will be build on an ‘owner-driven’ model. UN-Habitat and SDC will give money and technical help and owners will contribute their […]