Tag: Finance

March 03, 2013 (LBO) – Sri Lanka will continue to liberalise foreign exchange controls to encourage the investments needed to maintain high economic growth, Central bank governor Nivard Cabraal said. “The thinking now is to try to have faster growth for which we need more savings and investment which, if not available in our own […]

Feb 28, 2013 (LBO) – Sri Lanka will soon double the pay of around 50,000 unemployable graduates absorbed into state service to 23,000 rupees a month, a media report said.Sri Lanka’s ‘Yes FM’ a radio station, station broadcast economic development minister Basil Rajapaksa as saying in a speech that monthly allowances for the graduate trainees […]

Feb 28, 2013 (LBO) – Sri Lanka’s consumer prices rose 9.8 percent in February 2013 from a year earlier, with the index rising 0.4 percent during the month, the state statistics office said. Inflation was also 9.8 percent in January. The state statistics office said food and non-alcoholic beverages rose 0.6 percent and non-food items […]

Feb 27, 2013 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 3-months with 18.7 billion rupees in bids being accepted from the market after 15.0 billion rupees of maturing bills being offered, the state debt office said.The 3-month yield eased 01 basis point to 9.09 percent, the 6-month yield was […]

Feb 26, 2013 (LBO) – Sri Lanka should be careful about mounting external liabilities and reserve adequacy, with national debt already on the “high side” at over 80 percent of gross domestic product, the International Monetary Fund has said.Sri Lanka’s official debt to GDP ratio is expected to climb slightly to 81 percent in 2012 […]

Feb 22, 2013 (LBO) – Sri Lanka’s future lies in the vast resources to be found in the ocean surrounding the island but this wealth is at risk from pollution and illegal practices, experts said. The country is on the verge of discovering oil and gas in offshore waters and its location makes it well-placed […]

Feb 21, 2013 (LBO) – An index that tracks key essential expenses of urban middle class households in Sri Lanka has found that prices rose more than 20 percent over the past year, about double that of a widely watched official index.The Capital Alliance index will maintain a fixed basket using a Laspeyres formula, named […]

Feb 20, 2013 (LBO) – Sri Lanka is losing an advantage it had in basic literacy and the use of English language with other nations catching up fast and information technology literacy becoming increasingly important, a United Nations official said.Sri Lanka had the highest literacy rate in South Asia. “But simply having a literate population […]

Feb 20, 2013 (LBO) – A marketplace created by Sri Lanka’s Etisalat is helping the development and sale of Apps for smart phones based on the Android operating system, and has been recognized in a United Nations report, officials said.The UN Conference on Trade and Development in its information economy report 2012 said Etisalat’s App […]

Feb 14, 2013 (LBO) – Sri Lanka’s state investment promotion agency said Polish investors met the agency to assess possible investments in power generation and pharmaceuticals manufacture.A delegation from Polska Izba Gospodarcze, the Polish Chamber of Commerce headed by Leszek Lazarczyk of Linter group in Poland had visited Sri Lanka’ the Board of Investment said. […]

Feb 14, 2013 (LBO) – Sri Lanka’s tax revenues had fallen below target in 2012 amid an economic slowdown, declining imports and tax exemptions, the International Monetary Fund said. The IMF said Sri Lanka’s value added tax (VAT) regime is yielding less taxes than it should at current rates in force. “Strengthening the administration of […]

Feb 14, 2013 (LBO) – Sri Lanka is seeking a 200 million US dollar credit from the World Bank to improve the health care system and reduce non-communicable diseases, minister Keheliya Rambukwelle said.The money will be used in programs to reduce malnutrition, prevent and control non-communicable diseases and improve maternal and child care. The program […]