Category: Economy
Sri Lanka Shippers’ Council express concern over the sudden resignation of Customs Chief
May 26, 2015 (LBO) – Sri Lanka Shippers’ Council on Tuesday expressed concern over the sudden resignation of Director General of Sri Lanka Customs, a statement said.“It is with great regret that we have noted the sudden resignation of the Director General of Sri Lanka Customs,” Shippers’ Council said.“Jagath P Wijeweera has been one of […]
Sri Lanka’s CDS signs MoU with NSDL India to share knowledge on depository services
May 26, 2015 (LBO) – Sri Lanka’s Central Depository System (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE) signed a Memorandum of Understanding (MoU) with the National Securities Depository (Pvt) Ltd of India (NSDL), for the purpose of knowledge sharing in the area of depository services, the company said in […]
Sri Lanka’s Chinese port city builders positive about govt. decision on project
May 26, 2015 (LBO) – Sri Lanka’s controversial Chinese funded port city project builders say that they are awaiting a positive reply from the government on the suspension of work.An official of the project company of port city Sri Lanka, CHEC port city Colombo private limited said that discussions are still on going and once […]
Sri Lanka government revenues up 8-pct in the first quarter of 2015: Finance Minister
May 25, 2015 (LBO) – Sri Lanka’s government revenues has increased 8 percent across the board in the first three months of this year against the same period last year, Finance Minister Ravi Karunanayake said. “Foreign reserves as at today are around 7.6 and 7.8 billion US dollars,” Karunanayake told reporters Monday.Earlier the Finance Minister said tax […]
Sri Lanka’s private sector credit to grow further: Monetary Policy Review – May 2015
May 22, 2015 (LBO) – Sri Lanka’s Central Bank said, that private sector credit would expand in the period ahead given the low interest rate regime. Accordingly, credit obtained by the private sector from commercial banks increased by 13.9 per cent in March 2015 on a year-on-year basis, the regulator said in its monetary policy […]
Sri Lanka’s economic growth losing steam: former Central banker
May 18, 2015 (LBO) – Sri Lanka’s economy is at cross road and is losing steam due to the lack of a resource base and external sector vulnerability, an ex-Central Banker said. “No government would be able maintain high levels of economic growth continuously like Sri Lanka, unless it has a massive source of resources,” […]
Sri Lanka wants investor support to transform economy, Promissed to ease of doing business :Ravi Karunanayake
May 15, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that the government is seeking investor support to develop the Island’s economy and assured it’s full support for improving the ease of doing business. “I’m sure the environment is rather buoyant for investors to come in. This is the time the Prime Minister […]
Sri Lanka to boost economic ties with London
May 15, 2015 (LBO) – Lord Mayor of the City of London, Alderman Alan Yarrow, is due to lead a business delegation to Sri Lanka to strengthen economic ties and boost profession links between the two cities, the British High Commission said.“The Lord Mayor of the City of London, Alderman Alan Yarrow, is to lead […]
Sri Lanka’s 20A will help resolve disparities in development and growth: Minister
May 15, 2015 (LBO) – Sri Lanka’s proposed electoral reforms will allow better representation at grass root level which can help solve disparities in terms of development and growth within Provinces, a Minister said.“The 20 amendment to the constitution hopes to put in place electoral reforms that will bring better representation at grass root level,” […]
‘s economic growth to remain at 7.5-pct in 2015: ESCAP
May 14, 2015 (LBO) – Sri Lanka’s will maintain high growth rate of 7.5 percent in 2015 on continued strength in private consumption, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) said. “Growth is expected to remain at the high rates of 7.5 percent in 2015 and 7.6 percent in […]
Sri Lanka Business Chambers welcome govt’s initiative of ease of doing business
May 13, 2015 (LBO) – The Joint Business Chambers of Sri Lanka welcome the initiative taken by the Ministry of Finance to engage in a series of discussions with the public institutions and private sector to address the issues concerning the improvement of Sri Lanka’s Ease of Doing Business Ranking, which now ranked at 99, […]
Sri Lanka’s Treasury has adequate funds to pay govt employees: Finance Minister
May 12, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that government has enough money to pay employees’ salaries and for ongoing infrastructure development projects.“We have enough money to pay government employees and for the projects,” Karunanayake said.“But we won’t pay for the projects which have no agreements.” He said this while replying […]