Category: Featured
Market Watch: Eyes on policy decision, liquidity in surplus (Updated)
(Updated with 330 billion rupee CBSL holding of government securities) Dec 30, 2016 (LBO) – All eyes were on the Sri Lanka monetary policy decision to be announced later on Friday, with secondary market bond yields ticking slightly higher. Dealers said the central bank was likely to keep rates steady, though there was pressure to […]
‘s share of Chinese FDI going into Asia low: policy paper
Dec 30, 2016 (LBO) – Sri Lanka, which runs a trade deficit with China, should aim to increase the island’s share of Chinese FDI going into Asia, a policy paper by the Lakshaman Kadirgamar Institute says. The paper argues that Sri Lanka’s relatively low rank among China’s economic partners challenges some claims about China’s contributions […]
Southern & Sabaragamuwa PCs defeat controversial bill of development
Dec 27, 2016 (LBO) – Sri Lanka’s Southern Provincial Council and Sabaragamuwa Provincial Council today morning defeated the Development Special Provisions Draft Bill. 33 Provincial Council members voted against the bill while only 14 voted in favor in the Southern Provincial Council, while 20 voted against and 13 voted in favor in the Sabaragamuwa Provincial […]
Vehicle registrations edge higher in November: JB Securities
Dec 26, 2016 (LBO) – Sri Lanka vehicle registrations edged higher in November compared with October, on most categories, likely driven by pre-budget demand, JB Securities said in a research note. Three-wheelers and hybrids showed higher registrations, while one Rolls Royce Wraith was registered in the luxury car segment. But vehicle registrations were down sharply […]
Sri Lanka to improve public transportation in 2017: Fin Min
Dec 23, 2016 (LBO) – Several steps have been taken to improve public transportation with the building of new roads, upgrading railway, deploying priority bus lanes and building light rail, Sri Lanka’s finance ministry said on Friday. Plans are underway to construct two new roads, one between New Kelani Bridge and Athurugiriya and, the second […]
Market Watch: Central Bank tightens stance, sovereign yield rises
Dec 22, 2016 (LBO) – Sri Lanka’s Central Bank effectively tightened its monetary stance on Thursday by conducting a repo auction at 7.47 percent, above the Standing Deposit Facility Rate (SDFR) of 7 percent. The repo auction for around seven billion rupees absorbed excess liquidity in the market, which may signal an upward tick in […]
‘s 10MW solar power plant commissioned, lead financing by DFCC
Dec 22, 2016 (LBO) – Sri Lanka’s first 10MW grid connected solar power project implemented by the private sector was commissioned on Wednesday, with DFCC Bank acting as lead financiers to the project. Promoted by Sagasolar Power (Pvt) Ltd, the utility-scale power project located in Buruthankanda, Hambantota is expected to add 19GWh of clean energy […]
JVP leader Anura Kumara tops most active MP rankings: Manthri.lk
Dec 21, 2016 (LBO) – Sri Lanka’s Marxist JVP leader Anura Kumara Dissanayake has topped the most active Parliamentarians ranking of the year, a list compiled by manthri.lk website showed. The website launched in 2013 by Verité Research tracks and ranks parliament representatives in order of their performance. As per the data analyzed using the […]
‘s festive demand for rice: Ministry
Dec 20, 2016 (LBO) – Sri Lanka’s Ministry of Industry and Commerce will increase supply of freshly milled rice to meet a surge in demand during the festive season, a statement said. Sri Lanka will import 10,000 tonnes of rice, and buy 20,000 tonnes of paddy (both White Rice and Nadu) from the Paddy Marketing […]
‘s visit
Dec 19, 2016 (LBO) – Malaysia and Sri Lanka will consider the possibility of free trade agreement, a joint statement said, after the official visit of President Maithripala Sirisena to Malaysia. President Maithripala Sirisena was on a visit to Malaysia last week at the invitation of Malaysia’s Prime Minister Abdul Razak, during which five memoranda […]
‘s agriculture exports
Dec 19, 2016 (LBO) – Reducing non-tariff barriers (NTBs) in Sri Lanka is a significant step towards realizing untapped export potential within agricultural sectors such as fruit, vegetables, seafood and floriculture, trade experts say. Reducing domestic NTBs is a relatively easy but significant step towards encouraging diversification, where high transaction costs have acute implications on […]
US Millennium Challenge selects Sri Lanka for 5-Year grant
Dec 16, 2016 (LBO) – Sri Lanka has been selected for the US Millennium Challenge Corporation’s (MCC) new five-year grant compact which aims at encouraging economic growth and reduce poverty. At its quarterly meeting on December 13, 2016, the MCC’s Board of Directors selected Sri Lanka, Burkina Faso and Tunisia for these new MCC compacts, […]