Category: Policy
Capital gains tax may kill stock market: Ravi Abeysuriya
Feb 26, 2016 (LBO) – Sri Lanka’s government should not impose a capital gains tax on the stock market as the market still runs on low trade volumes, Group CEO of Candor Group, Ravi Abeysuriya said. Capital gains are profits realized on a sale of a non-inventory asset that was purchased at a cost that […]
Sri Lanka no longer a poor country, discussions with IMF constructive: CB Governor
Feb 26, 2016 (LBO) – Sri Lanka is no longer a poor country, and must rely on markets for its funding needs, Central Bank Governor Arjuna Mahendran said. An endorsement of the IMF, in this regard, would be valuable, he added. “We have had very constructive discussions with the IMF,” Mahendran said. “The government and […]
ETCA can be a wake up call for Sri Lankans: professionals
Feb 25, 2016 (LBO) – Sri Lankan professionals say integration with India through the Economic and Technical Cooperation Agreement (ETCA) is a must for the islands future development. “Yes, ETCA is needed. We have labour problem and if Sri Lankans can’t do it and we don’t have the people then we have to bring them […]
Sri Lanka’s five challenges for development: World Bank
Feb 16, 2016 (LBO) – Sri Lanka’s has five main challenges that need to be addressed In order to sustain progress and fulfill development potential, the World Bank said. Releasing the Systematic Country Diagnostic report for Sri Lanka the World Bank said the country has ample opportunities to build on its success due to its […]
“Doing our best to live up to expectations of PM”: Harsha
Feb 10, 2016 (LBO) – Sri Lanka’s Deputy Minister of Foreign Affairs assures that although there is some frustration at the Prime Ministers level with regards to Foreign Ministry performance, they are doing their utmost to prove themselves. “We are a new and liberal government and we need to get on with it. Most importantly […]
Labour cost not critical to attract multinationals: economist
Feb 08, 2016 (LBO) – Inter-country differences in labour cost do not seem to explain differences among developing countries in their success in joining global production networks, an economist said. Global production networks or GPN refer to interrelations among global firms specializing in different segments of a given product. These networks focus on vertically integrated […]
India rates tied to fiscal discipline, Rajan signals Modi
Feb 03, 2016 (LBO) – India held interest rates unchanged on Tuesday with Reserve Bank of India Governor Raghuram Rajan sending a message to Prime Minister Narendra Modi that continued fiscal discipline was necessary for further interest rate cuts. “The Indian economy is currently being viewed as a beacon of stability because of the steady […]
Chances of March Fed rate hike drop after FOMC statement
Jan 28, 2016 (LBO) – The chances of a U.S. Fed rate hike in March dimmed after a FOMC policy statement on Wednesday acknowledged global economic risks, as analysts interpreted the carefully worded statement. The FOMC decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent after a two-day […]
Government should engage with public on FTAs: Deshal De Mel
Jan 28, 2016 (LBO) – Sri Lanka’s government needs to engage with the public when negotiating Free Trade Agreements with other countries, economist Deshal De Mel said. De Mel on his blog stated that local manufacturing and services enterprises may have disruptive impacts through the Free Trade Agreement with China. “It is curious that there […]
‘s Rebirth, blog by Joseph E Stiglitz
By Joseph E. Stiglitz COLOMBO – Sri Lanka has been deservedly praised for the progress it has made since the end of the war against the separatist Tamil Tigers in 2009. The economy has grown at an average annual rate of 6.7%, and education and health statistics are impressive. All developing countries face myriad challenges, […]
New ministry to restructure rather than run public enterprises: Kabir Hashim
Jan 26, 2016 (LBO) – The mandate of Sri Lanka’s new Public Enterprise Development ministry is restructuring rather than running the country’s large portfolio of state-owned enterprises, Kabir Hashim, Sri Lanka’s minister of Public Enterprise Development, told the publishing and consultancy firm Oxford Business Group. “The main objective is to reduce the burden SOEs place […]
Sri Lanka Monetary Board holds key rates unchanged
Jan 25, 2016 (LBO) – Sri Lanka’s Monetary Board held interest rates unchanged on Monday with inflation somewhat subdued in December, and the impact of last months’s SRR increase still being transmitted through the economy, a statement said. The Monetary Board noted that “the policy adjustments made on the monetary and external fronts are still […]