Tag: economy
Sri Lanka’s foreign reserves upsurge to USD7.5bn in April, CB predicts further growth
June 2, 2015 (LBO) – Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in April 2015 from 6.8 billion US dollars in March, due to a 400 million US dollar currency swap from the Reserve Bank of India, Central Bank said. The regulator says the reserves likely to increase further helped by […]
Sri Lanka asked exporters, expats to bring dollars back to the Island: Promised a higher interest rate
June 01, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake urged all Sri Lankan exporters and expatriates to bring their money back to the country and promised the government will pay a higher interest rate, above the foreign banking and financial institutions.“We will not have to go after foreign Bond issues if these funds […]
Sri Lanka’s bond auction sends positive signals to the world: CB Governor
May 29, 2015 (LBO) – Sri Lanka’s Central Bank Governor, Arjuna Mahendran says the local bond auction carried on a transparency manner and it sends positive signals to the business community around the world to invest in the Indian Ocean Island. “We wanted to develop our local bond market. We wanted to see the Sri […]
‘s foreign reserves moving towards USD 9 bn: Ravi Karunanayake
May 29, 2015 (LBO) – Sri Lanka’s government plans to increase the Island’s foreign reserves to 9 billion US dollars, Finance Minister Ravi Karunanayake said. Sri Lanka’s foreign reserves would be close to 8.3 billion US dollars after proceeds from a 988 million dollar sovereign bond and development bond injection to the economy. “That is […]
Sri Lanka needs a stronger female work force: Economist
May 28, 2015 (LBO) – Sri Lanka needs to look at ways to address, the lower female participation in the labour force and the under employment of the educated women, to get maximum contribution to the national economy, a senior economist said. “Sri Lanka needs to create more suitable employment opportunities for women,” Saman Kelegama, […]
Maldivian hotel operator to build a water villa in North West Coast, Sri Lanka
May 27, 2015 (LBO) – A Maldivian Hotel operator, Sun Siyam said that it plans to develop an overwater villa resort in Kalpitiya, Sri Lanka as the hotel plans to expand across the Island.This project comes at the perfect time for overseas expansion of Maldivian brands, Ahmed Siyam Mohamed, Chairman and Managing Director of Sun […]
Sri Lanka Treasury bill yields dropped: Central Bank
May 27, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down at Wednesday’s auction with 3-months yield dropping 01 basis points to 6.07 percent and 6-month yields also dropping 01 basis points, to 6.18 percent, data from the state debt office showed.It was decided to accept 10,102 million rupees from the auction of 03 […]
Sri Lanka’s business chamber calls for early election, says overseas business community is concerned
Mar 26,2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said, that the government should calls for early parliamentary election without a delay , so that policies can be formulated and implemented to kick-start the economy and exploit its true potential. “We once again reiterate the need for conducting parliamentary elections without delay,” the chamber […]
Sri Lanka’s Chinese port city builders positive about govt. decision on project
May 26, 2015 (LBO) – Sri Lanka’s controversial Chinese funded port city project builders say that they are awaiting a positive reply from the government on the suspension of work.An official of the project company of port city Sri Lanka, CHEC port city Colombo private limited said that discussions are still on going and once […]
‘s accusations ; Ready for TV debate
May 24, 2015 (LBO) – Sri Lanka’s former Central Bank Governor Ajith Nivard Cabraal said that the recent accusations aganist him were made to shift the country’s attention away from the current Treasury bond scam which took place under “Yahapalanaya” rule and challenged a television debate. “My attention is drawn to several recent accusations and […]
Sri Lanka should move from debt finance led growth to export and FDI directed growth: Saman Kelegama
May 22, 2015 (LBO) – Sri Lanka’s economy should move towards export and foreign direct investment led growth, to maintain a sustainable growth, a senior economist said. “Sri Lanka needs to shift from debt finance investment and consumption led growth to a more export and foreign direct investment led growth,” Saman Kelegama, Executive Director, Institute […]
Sri Lanka’s private sector credit to grow further: Monetary Policy Review – May 2015
May 22, 2015 (LBO) – Sri Lanka’s Central Bank said, that private sector credit would expand in the period ahead given the low interest rate regime. Accordingly, credit obtained by the private sector from commercial banks increased by 13.9 per cent in March 2015 on a year-on-year basis, the regulator said in its monetary policy […]