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Sri Lanka external trade crunched in October 2014: Trade deficit widen significantly: Central bank
Dec 13, 2014 (LBO) – Sri Lanka’s exports declined by 13.7 percent, to 899 million US dollars in October 2014 from a year earlier with largest contribution from textiles and garments followed by transport equipment and rubber products, all of which are categorized under industrial exports, official data showed. Apparel exports were down 8.7 percent […]
Sri Lanka policy rates unchanged: Inflation declines due to crude oil prices: Central Bank
Dec 12, 2014 (LBO) – Sri Lanka Central Bank says the current monetary policy stance is appropriate and accordingly decided to unchange the policy rate corridor at 6.50 percent to 8.00 percent, respectively. The impact of the contraction in pawning advances on the overall credit growth that was observed since early 2013 has now ended, […]
’s growth relies on tapping in to global markets, says Economist
Dec 12, 2014 (LBO) – Sri Lanka’s economic growth will be driven by tapping into global market through exporting high value manufacturing products, agricultural products and services, a senior economist said. Sri Lanka is a 67 billion dollar economy, which I think not large by any strategy imagination, Deshal de Mel, Senior Economist of Hayleys […]
Belarus removes tax for Sri Lanka exporters
Dec 11, 2014 (LBO) – Sri Lanka has been removed from the list of off-shore countries from Belarus, benefiting Sri Lankan exporters a 15 percent tax waiver out on remittance of their export earnings back to Sri Lanka, Minister of Industry and Commerce of Sri Lanka said in a media a release. The total trade […]
Sri Lanka Jan-Oct exports up by 8.7 pct to $9bn
Dec 10, 2014 -Sri Lanka’s provisional merchandise (only) exports surged by 8.79 percent to 9.104 billion dollars in the months of January to October 2014, the export development board (EDB) said. Italy appears to overtake India to become the third largest export market as provisional exports to Italy jumped by a strong 29 percent. US […]
Sri Lanka encourages people in North to invest in CSE to raise capital for businesses
Dec 10, 2014 (LBO) – Sri Lanka’s Securities and Exchange Commission’s chief said that, stock market is an alternative financial tool to raise capital for business activities and therefore Northern Province should take advantage of it and derive the benefits of capital market investments. More than 250 participants including professionals, academics and the business community […]
LBR LBO Debrief – “Economic Outlook 2015” – Tuesday 9th December 2014
Topic: LBR LBO Debrief Economic Outlook 2015 Date/Time: Tuesday 9th December 2014 | 0900 – 1300 HRS Speakers: Samiran Chakraborty | Head of South Asia Macro Research | Standard Chartered Bank Nishan de Mel D.Phil. (Oxford) | Executive Director cum Head of Research | Verité Research Moderator: Anush Wijesinha | Research Economist | Institute of […]
Former UNP member Tissa Attanayake joins government: Media Report
Dec 08, 2014 (LBO) – United National Party’s (UNP) former General Secretary Tissa Attanayake has joined the Government, a media report said. Attanayake today resigned from his post of General Secretary at United National Party (UNP). The report said, President Mahinda Rajapaksa had made this comment to the public near the Department of Elections in […]
Sri Lanka reduces fuel and gas prices
Dec 07, 2014 (LBO) – The Government of Sri Lanka reduced the prices of fuel and gas with effect from midnight Friday, a media report said. The price of a 12.5 kilogram domestic gas cylinder have been reduced by 250 rupees. Price of a liter of petrol and diesel have been reduced by seven rupees […]
Remove Cut outs and Banners: Election Commissioner
Dec 05, 2014 (LBO) – Sri Lanka’s Elections Commissioner instructed all local government institutions to remove cut-outs and banners with regard to the forthcoming presidential election, a media report said. If it is wrong the legal actions should be taken, Keheliya Rambukwella said. Action must be taken from the relevant government authorities, It is wrong […]
’s economy is stable and moving towards reducing poverty: Governor
Dec 05, 2014 (LBO) – Sri Lanka’s economy is stable and moving towards reducing poverty in the Island, Central Bank Governor, Ajith Nivard Cabraal said. He said electricity, road development and better income is needed to achieve this target. In 2005, only 72 percent of the county’s population were given electricity and 28 percent haven’t […]
Sri Lanka tourist arrivals up 9.4 -pct in November 2014
Dec 04, 2014 (LBO) – Sri Lanka’s tourist arrivals rose 9.4 percent to 119,727 in November 2014 from a year earlier, driven by China and India, data from the state tourism promotion office showed.Middle Eastern visitors were down 10.5 percent to 4,327 with arrivals from Saudi Arabis up 48.0 percent to 1,328 and UAE down […]