Tag: Finance

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 […]

July 21, 2012 (LBO) – Sri Lanka should watch inflation, the budget gap and fix energy enterprise to the economy stable in the future the International Monetary Fund has said ending a three-year bailout program. The IMF released a final 415 million US dollar tranche under a 2.5 billion US dollar bailout package, a somewhat […]

July 19, 2012 (LBO) – Sri Lanka’s recent spike in inflation following a steep depreciation of the currency is mostly a structural change in prices, and not continuous monetary inflation, an International Monetary Fund official said. As foreign reserves are sold down by the Central Bank, the trade gap widens and the current account deficit […]

July 19, 2012 (LBO) – Entrepreneurship awards by a Sri Lankan business chamber will include two new categories this year to recognise women running small enterprises in the former war zone and disabled entrepreneurs. Sri Lanka’s 30-year ethnic war which ended in 2009 left thousands of people disabled on both sides of the conflict and […]

July 17, 2012 (LBO) – Sri Lanka is pushing for stronger economic ties with the United States which will strengthen overall diplomatic relations between the two countries, a top diplomat said. “At this point we have a very straightforward and genuine relationship with the US,” Sri Lanka’s envoy to the United States, Jaliya Wickremasuriya said. […]

July 14, 2012 (LBO) – Sri Lanka has cut excessively high taxes on several imported foods improving the food freedoms of the poorest sections of the population and has also allowed cooking gas prices to fall. Sri Lanka was pushed into a balance of payments crisis in 2011 by credit taken to manipulate oil prices […]

July 11, 2012 (LBO) – Sri Lanka is holding its key interest rates at which money is injected into the economy at 9.75 percent amid rising inflation, though credit and money supply growth is starting to slow, the Central Bank said. In February energy prices were raised, the exchange partially floated to reduce the need […]