Category: Economy
Central Bank to introduce new law regulating moneylenders
Dec 06, 2019 (LBO) – Sri Lanka’s Central Bank with the Ministry of Finance is currently in the process of drafting a new law for licensing, regulation and supervision of moneylenders and protection of customers. The Central Bank said in a statement that the said law is currently in the drafting process and is expected […]
Tourism, the Northern Province Game Changer
By Jekhan Aruliah Tourism is the single most game-changing opportunity for the North. Game changing because for those visitors with eyes to see and ears to hear it opens a wide window to all the other non-tourism opportunities in this province. As they enjoy the hospitality, the food, the sites and the scenery a few […]
Investor Dr. Mark Mobius in Colombo next week
Dec 03, 2019 (LBO) – Colombo’s upcoming major mixed development, Cinnamon Life announced the visit of the legendary emerging markets investment pioneer, Dr. Mark Mobius for an exclusive breakfast forum hosted by the premier lifestyle brand. The latest in a series of high-profile engagements by Cinnamon Life, the interactive forum is set to take place […]
‘s new tax regime
Dec 02, 2019 (LBO) – Sri Lanka’s Finance Ministry says that the recent tax reforms constitute a much-needed transformation in the country’s tax system to address the numerous problems stemming from its extreme complexity with the multiplicity of taxes. The Finance Ministry said that these policy measures will be implemented within a coherent policy framework, […]
Sri Lanka Y-o-Y inflation down to 4.4-pct in Nov 2019
Dec 02, 2019 (LBO) – The yer‐on‐year inflation as measured by CCPI is 4.4 percent in November 2019 and inflation calculated for October 2019 was 5.4 percent, the Department of Census and Statistics said. Year on year inflation of food group has decreased from 6.8 percent in October 2019 to 4.6 percent in November 2019 […]
Fiscal stimulus should be structured not to overheat economy: CB Governor
Nov 29, 2019 (LBO) – The government is to make a policy statement as to how the recently introduced fiscal stimulus would be accommodated within a stable framework, Central Bank Governor Indrajit Coomaraswamy said. “The government will be making a statement as to how this would be accommodated within a stable framework,” Governor Coomaraswamy told […]
Recent tax cuts support short term but greater fiscal clarity needed for medium term: CBSL
Nov 29, 2019 (LBO) – Sri Lanka’s Central Bank observes that the recent tax revisions would support lower inflation and higher economic growth in the short term, but was of the view that greater clarity with regard to the medium-term fiscal path of the government is required to assess the impact on the economy over […]
‘s Central Bank to remain unchanged
Nov 29, 2019 (LBO) – The Monetary Board of the Central Bank of Sri Lanka has decided to maintain its accommodative monetary policy stance. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) will remain at their current levels of 7.00 percent and 8.00 percent, respectively. The Board said it […]
Sri Lanka announces tax reliefs; cuts VAT to 8-pct, removes PAYE, WHT & Capital Gains Tax
Nov 27, 2019 (LBO) – Sri Lanka’s new Cabinet of Ministers has given its approval to reduce Value Added Tax (VAT) and various other taxes, Co-Cabinet Spokesperson Minister Bandula Gunawardana said. “Required amendments and gazette notifications are currently being prepared,” Gunawardana told reporters. “This will be a stimulus to all areas of the economy and […]
4IR: A challenge or an opportunity for gender equality
Institute of Policy Studies – IPS These technological advances of the hold significant implications on existing gender structures and balances, especially in the labour market. While optimists point out to opportunities for strengthening women’s position through greater gender equality through the 4IR, counterarguments that are put forward signal the 4IR would be ‘gender blind’. Entrenched […]
Government puts Enterprise Sri Lanka loan scheme on-hold for review
Nov 26, 2019 (LBO) – Sri Lanka’s newly formed government has decided to put Enterprise Sri Lanka along with other concessionary loan schemes launched by the previous government on hold until a systematic study is carried out. The government’s position is that existing credit schemes should be identified and implemented in priority areas of the […]
Central Bank expresses its strong objection to statement released by Fitch Ratings
Nov 21, 2019 (LBO) – Sri Lanka’s Central Bank says that it strongly objects to the statement released by Fitch Ratings today as it depicts the complete opposite of the realised positive market response, followed by the assumption of duties by the President. Releasing a statement, the Central Bank said the domestic foreign exchange market, […]