Tag: economy

August 05, 2012 (LBO) – A Sri Lankan infrastructure specialist is sharing ideas on how loss-making state enterprises can transform themselves into a profitable venture in a new book written in Sinhala. Apata Galapena Arthika Kramaveda, a collection of articles on economics in Rohan Samarajiva, expert on infrastructure policies and C J Amaratunga, veteran journalist, […]

August 04, 2012 (LBO) – A free trade deal between India and Sri Lanka has actually helped stabilise the island’s trade deficit with her larger neighbour, a senior economist has said. Concerns among Sri Lankan protectionist forces about the Indo-Lanka free trade agreement, that it was lopsided and favoured India, were largely misplaced, said Saman […]

August 03, 2012 (LBO) – Sri Lanka’s budget continued to be under pressure in May with the gap between total revenues at 119 billion rupees or 1.6 percent of gross domestic product but the pace of spending increases has slowed from a month earlier, official data showed. State finances performed much worse that last year, […]

August 03, 2012 (LBO) – India has agreed to set-up a dedicated economic zone and to build a pharmaceutical hub in Sri Lanka as part of bilateral ties to strengthen economic trade between the South Asian neighbours, a minister said. The manufacturing investment zone, is due to come up in Sri Lanka’s eastern seaport district […]

July 31, 2012 (LBO) – Sri Lanka’s consumer prices accelerated to a 15-month high of 9.8 percent in July from a year earlier, as prevailing dry weather hurt food crops, official statistics data showed. Inflation as measured by the Colombo Consumer Price Index rose 0.9 percent during the month of July to 166.7 points, the […]

July 28, 2012 (LBO) – Sri Lanka’s state energy enterprises will make losses of about one percent of gross domestic product, a lower than 1.75 percent GDP loss made in 2011, an International Monetary Fund report has said. Though the IMF program had a requirement to make energy enterprises break-even it was not a performance […]

July 27, 2012 (LBO) – A Sri Lankan citizen and former top business executive, has called for greater transparency in disclosing budget numbers including present values of future liabilities and an overall public deficit figure. Chandra Jayaratne, a former head of Sri Lanka’s Ceylon Chamber of Commerce said better disclosures should be made by the […]

July 26, 2012 (LBO)- Sri Lanka can further improve its business climate to propel growth, attract more investors while freeing trade could ease also soften the impact of a Eurozone crisis, a diplomat has said. British high commissioner (ambassador) John Rankin, told an annual meeting of Sri Lanka’s Ceylon Chamber of Commerce that greater protectionism […]

July 25, 2012 (LBO) – Sri Lanka is estimated to have received about 437 million US dollars in foreign direct investments up to May 2012, while 187 million US dollars have flowed into stocks in the first half of the year, the Central Bank said. FDI is equity, loans from parents and re-investment by foreign […]

July 25, 2012 (LBO) – Sri Lanka needs to improve its image overseas and promote a stable macroeconomic environment to help build bilateral trade links and attract more foreign investors, a Dutch diplomat said. Bas Van Noordenne, Netherland’s deputy head of mission in Sri Lanka told a business forum that people still associate Sri Lanka […]

July 23, 2012 (LBO) – A new two year program to be discussed with the International Monetary Fund will support longer term goals of the administration which may involve improving revenues, state enterprises, or keeping deficits and inflation down, officials said. Details discussions on the program will be held with the arrival of the next […]

July 22, 2012 (LBO) – Sri Lanka is to begin talks with the International Monetary Fund for an ‘Extended Fund Facility’ which could result in citizens getting long term economic liberties and the implementation of prudent measures to prevent economic shocks that hurt people. A reduction of state interventions in the economy in the form […]