Category: Economy

Six-month tourist arrivals to the paradise isle are slightly wobbly, responding to the peace sensitivity index, but are on track with year-end expectations. Six-month tourist arrivals to the paradise isle are slightly wobbly, responding to the peace sensitivity index, but are on track with year-end expectations. June’s month on month tourist arrivals showed only a […]

Donors want a joint aid group that was set up last year and including government, to get moving to better plan aid and ensure funds go down to the levels its meant to reach.Donors want a joint aid group that was set up last year and including government, to get moving to better plan aid […]

Sri Lanka may lose hard won access concessions into the EU market, if local labour laws are not liberalised fast.Sri Lanka may lose hard won access concessions into the EU market, if local labour laws are not liberalised fast. Sri Lanka won export tariff reductions into the European Union in January this year based on […]

India says it is looking at new areas for enhancing economic cooperation with Sri Lanka, including agriculture, and a line of credit for the island nation was in the pipeline.rnNew Delhi will also reivew the double taxation avoidance treaty with Colombo, Union Finance Minister P Chidambaram said after a meeting with visiting Sri Lankan Prime […]

Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, which is on a steady slide against the US dollar.Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, […]

Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, which is on a steady slide against the US dollar.Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, […]

The United States and Sri Lanka will soon enter discussions regarding the island’s participation in “MegaPorts,” a U.S. Department of Energy (DOE) initiative to curb the illicit movement of radioactive materials worldwide. The United States and Sri Lanka will soon enter discussions regarding the island’s participation in “MegaPorts,” a U.S. Department of Energy (DOE) initiative […]

About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. Sri Lanka’s total project allocation for 2004 tops US$ 400 mn, but World […]

Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said.Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said. […]

The Treasury Secretary gave an open invitation to exporters and SME’s to form industry clusters under the National Council for Economic Development (NCED) on Thursday.The Treasury Secretary gave an open invitation to exporters and SME’s to form industry clusters under the National Council for Economic Development (NCED) on Thursday. Speaking at a seminar on government […]

Rising inflation and falling reserves is likely to put an end to Sri Lankas eight month long honeymoon with low interest rates.The Central Bank hinted that it is unlikely to keep down short-term interest rates next month, as a declining trend in inflation bottoms out keeping in line with rising consumer prices.rn rnThe bank on […]

Aid flows fell sharply in the first five months as the government lost donor support due to policy about-turns. Gross inflows in the first five months amounted to Rs. 28 bn with Rs. 98 bn being the target set by the previous government for this year.rn rnNet borrowing to support the budget was expected to […]