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Sri Lankan economy expands 5.1-pct in Q1 2015 after rebasing
July 23, 2015 (LBO) – Sri Lanka’s rebased national accounts estimates, which takes 2010 as base year, against 2002 shows the Islands economy five percent bigger.“The structural composition of the economy has changed after the rebasing due to revision of the reference year and other improvements made to the system in the rebasing process,” the […]
EU Election Observation Mission departs for provinces in Sri Lanka
July 23, 2015 (LBO) – Eighteen Long-Term Observers from the EU Election Observation Mission to Sri Lanka departed this morning from the Galadari Hotel in Colombo to their respective duty areas in all nine provinces across the country.Each team comprises two Long-Term Observers and on August 11, they will be joined in the field by […]
Sri Lanka rupee depreciates 2.1-pct against USD this year: Central Bank
July 23, 2015 (LBO) – Sri Lanka’s rupee has depreciated by 2.1 percent against the US dollar, during the year up to 21st July 2015, the Central Bank data showed.However, based on cross currency exchange rate movements, the Sri Lankan rupee appreciated against the euro by 10.0 per cent, the Australian dollar by 9.2 per […]
Sri Lanka’s official reserves USD 6.8bn in May 2015
July 23, 2015 (LBO) – Sri Lanka’s gross official reserves stood at 6.8 billion US dollars in May 2015, equivalent to 4.2 months of imports, while total foreign assets amounted to 8.7 billion US dollars, equivalent to 5.3 months of imports, data showed. Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in […]
Sri Lanka‘s tea exports fall for eigth consecutive month
uly 23, 2015 (LBO) – Sri Lanka’s Tea exports, which were severely affected by the lower demand from Russia and the Middle East, declined for the eight consecutive month in May 2015, recording a drop of 12.1 per cent in May 2015. Official data shows Sri Lanka exported 123.6 million US dollar worth tea in […]
‘s General Treasury lends Rs544.9mn to pay Golden Key depositors tomorrow
July 23, 2015 (LBO) – Sri Lanka’s government will provide 544.3 million rupees of tax payers money as the first tranche to start paying the much talked of “Golden Key Depositors” who invested in a ponzi scheme to get a bigger share of the failed Golden Key Credit Card Company from tomorrow (24), a statement […]
Sri Lanka Marxist JVP election manifesto repeats good governance policies
July 23, 2015 (LBO) – Sri Lanka Marxist JVP’s election manifesto presented to the public yesterday contains key governance policies similar to those contained in President Sirisena’s election manifesto.Abolishing the executive Presidency by establishing a Parliamentary system, Electoral reforms, Right to Information Act and as well as the National Audit Act are some of the […]
Sri Lanka’s exports flat in May while imports up: Central Bank
July 22, 2015 (LBO) –Sri Lanka’s exports earnings recorded a marginal decline of 0.1 per cent, year-on-year, to 883 million US dollars in May 2015, led by lower performance in tea, sea food, gem, diamond and jewellery exports, and the Central bank said. Earnings from industrial exports increased by 3.3 per cent to 661.3 million […]
UNP to launch a policy manifesto to boost ordinary people income: Harsha De Silva
July 22, 2015 (LBO) Sri Lanka’s United National Party is set to launch it’s policy manifesto on Thursday (23), targets at improving the income of ordinary people through a knowledge based economy, Deputy Economic Policy Minister Harsha de Silva said.“We are planning for an economic revolution to help boost the ordinary people through our new […]
Sri Lanka stocks close up 0.8-pct
July 22, 2015 (LBO) – Sri Lanka’s stocks closed up 0.76 percent on Wednesday with index heavy stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed 54.04 points higher at 7,199.63 up 0.76 percent. The S&P SL20 closed 42.86 points higher at 4,037.83 up 1.07 percent. Turnover was 1.62 billion rupees, […]
EU team due in October to assess requirements for lifting fishing ban: USD 75mn loss so far
July 22, 2015 (LBO) – A delegation from the European Union is due to arrive in Sri Lanka in October to assess the progress made by the Sri Lankan government in order to lift a fishing ban imposed earlier, a foreign Ministry official said.“A technical evaluation mission from the EU is to come to Sri […]
Sri Lanka’s Treasury bill yields up across maturities: Central Bank
July 22, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up across maturities at Wednesday’s auction with 12-month yield up 08 basis points to close at 6.39 percent, data from the state debt office showed. 3-month yields were up 03 basis points to close at 6.26 percent while 6-month Treasury bill yields were up […]