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‘s vehicle import bill, says Murtaza
Sept 15, 2015 (LBO) – A rash of credit-fueled vehicle imports is affecting Sri Lanka’s balance of payments at the moment. But the bigger problem is not addressing fundamental monetary and fiscal policy issues, says Murtaza Jafferjee, the chief executive at Colombo-based JB Securities.“The primary factor fueling the demand for vehicles is credit. When the […]
Sri Lanka and India to sign a new trade agreement in 2016
Sep 15, 2015 (LBO) – Prime Ministers of India and Sri Lanka on Tuesday pledged to strengthen rapid economic development in both countries through a new agreement based on trade, economy, investment and technology. The statement issued by the Sri Lankan Prime Minister’s office said the draft agreement will be prepared in December this year […]
Sri Lanka sells 05, 07, 10 and 13 year treasury bonds at 9.58–10.88-pct
Sep 15, 2015 (LBO) – The issue of treasury bonds amounting to 16 billion rupees have been oversubscribed with 73 billion rupees of bids received from investors.The Central Bank has accepted 3.1 billion rupees of 05 year bonds maturing on 01 May 2020 at a weighted average yield rate of 9.58 percent. The bond auction […]
Lakshman Yapa assumes duties as State Minister of Finance
Lakshman Yapa Abeywardana, the State Minister of Finance assumes duties at the Ministry of Finance on 15.09.2015. President, Maithreepala Sirisena and Ravi Karunanayake, Minister of Finance graced this occasion.
Sri Lanka stocks close down 0.14-pct: Lack of direction for investors
Sep 15, 2015 (LBO) – Sri Lankan stocks closed down 0.14 percent on Tuesday following with low investor sentiment and losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 10.01 points at 7,152.43 lower 0.14 percent. S&P SL20 closed 4.48 points lower at 3,915.15 down 0.11 percent. “There […]
Section of Colombo Outer Circular Expressway to open Sept 17: JICA
Sept 15, 2015 (LBO) – Sri Lanka’s Kaduwela to Kadawatha section of the Colombo outer circular expressway (E02) will be declared open on September 17, Japan’s development agency JICA said. Lakshman Kiriella, the minister for highways, Kenichi Suganuma, ambassador of Japan to Sri Lanka, and Hiroyuki Abe, senior representative of JICA, will attend the event. […]
India likes to see trade become more balanced for Sri Lanka: Indian PM
Sep 15, 2015 (LBO) – India would like to see bilateral trade grow and become more balanced for Sri Lanka since both countries desire deeper economic engagement, Indian Prime Minister said. Speaking at the joint press briefing with Sri Lankan PM, Indian Premier Narendra Modi said the two countries discussed the ways to achieve these […]
Central Bank directs banks to reduce loan ratio on motor vehicles
Sept 15, 2015 (LBO) – Sri Lanka’s Central Bank has issued a directive to commercial banks, speciaized banks and financial institutions to reduce the loan to value (LTV) ratio to 70 percent in respect of loans granted for purchases or utilisation of motor vehicles. “The Central Bank of Sri Lanka has observed with concern the […]
Sri Lankan Prime Minister meets Indian Prime Minister and External Affairs Minister
Meeting with Narendra Modi, Prime Minister of India at Hydrabad House: Call by Sushma Swaraj, Minister of External Affairs of India at Hotel Taj Palace Delhi:
Sri Lanka female labor force should shift into technology-related sectors: ADB
Sep 15, 2015 (LBO) – Sri Lanka’s female labour force needs to shift from traditional jobs in education and health sector to more technology-related ones, a recent ADB study indicates. “Few women have reached the highest level in the employment hierarchy in the judiciary, universities, scientific professions, and in private enterprises,” the Asian Development Bank […]
Sri Lanka export financing can drive export growth: Verité Research
Sep 15, 2015 (LBO) – Sri Lanka should recognize the importance of export financing especially with regard to the small and medium scale sector to expand existing exports to the world, Verité Research said.Sri Lanka’s share of exports to GDP was 15 percent last year and has been on a declining trend since 2000.The research […]
World Bank says Shortage of Long-Term Finance Blunts Progress in Developing Countries
Sep 15,2015 (LBO) – A shortage of long-term financing since the 2008 crisis is choking the investment-backed growth of companies in developing countries and hampering the ability of credit-worthy families to borrow for education and housing needs and escape poverty, a new World Bank report warned.“It would be a challenge to achieve high and sustainable […]