Category: Economy

Apr 02, 2015 (LBO) – Sri Lanka’s Finance Minister says even though the customs department started 24 seven operations last month, the service has not been used to the maximum by the importers and exporters, which is like dreaming of Singapour and living in Ethiopia.“We have brought Singapore access through the Customs extending their services […]

Apr 01, 2015 (LBO) – Sri Lanka asked to set up an industrial zone with the partnership of China since the Chinese funded port city only will not help developing the Island, Yi Xianliang, ambassador of the People’s Republic of China to Sri Lanka was quoted as saying in a media release. He also hinted […]

Apr 01, 2015 (LBO) – The Export-Import Bank of India, India’s export finance institution, is planning to support Sri Lanka through its recently launched 5 year “Green Bond” issue of 500 million US dollars, the bank said in a statement. The issue attracted subscription of around 3.2 times which was led by strong demand, across […]

Apr 01, 2015 (LBO) – Sri Lanka’s new government plans to drive the economy forward through investment and foreign direct investment (FDI) unlike the previous regimes strategy of public investment and foreign debt, deputy Minister of highways, higher education and investments promotions, Eran Wickramaratne said. “Clearly our government’s view is that the future of this […]

April 01, 2015 (LBO) – Sri Lanka inflation declined to 0.1 percent in March 2015 from 0.6 percent in February on year-on-year basis as a result of the moderation of food prices during the month, the Central Bank said in a media release.The data measured by the change in the Colombo Consumers’ Price Index (CCPI) […]

Mar 31, 2015 (LBO) – Sri Lanka’s politicians and parties should think of a common long-term plan to pursue its vision of becoming a successful knowledge based economy in the region, Prime Minister Ranil Wickremesinghe said.“We have to agree on a common 20 year plan to drive the island towards a knowledge based economy through […]

Mar 31, 2014 (LBO) – Sri Lanka’s consumer prices falls to 0.1 percent in March 2014 from a year earlier, against the 0.6 percent in February, the central bank said. The Colombo Consumer Price Index dropped 0.4 percent in the month, after dropping from 2.3 percent in February. The Index dropped 0.4 percent in the […]

Mar 29, 2015 (LBO) – Sri Lanka’s President Maithreepala Sirisena calls for a new thinking on growth strategy and more cooperative partnership among the community of Asia.He was speaking yesterday at the economic conference “Boao Forum for Asia 2015” held in Hainan island , China’s south and said there is an ever-growing disparity among the […]

Mar 27, 2015 (LBO) – Sri Lanka will get aid from the Government of China to build a hospital with all the modern facilities to cater to patients with kidney diseases, president Sirisena’s office said in a media release.The Chinese President Xi Jinping has agreed to provide assistance to build the hospital at the request […]

Mar 26, 2015 (LBO) – Sri Lanka’s new rulers urged the private sector to come up with a solution to increase wages and says the government would not like to force it to be legislated, Deputy Minister of Finance and Planning Harsha De Silva said.“We are in a really dilemma right now having delivered 100 […]

Mar 26, 2015 (LBO) – Sri Lanka’s Central Bank yesterday signed a 400 million US dollar currency swap agreement with the Reserve Bank of India (RBI), where it would allow the Central Bank to draw funds in US dollar or Euro in multiple tranches, the RBI said in a media release. The agreement is valid […]