Tag: Finance

Jan 16, 2015 (LBO) – Sri Lanka’s new Minister of Highways and Investment Promotion, Kabir Hashim and Eran Wickramaratne as Deputy Minister of Highways and Investment Promotion,assumed duties today. Hashim is the Chairman and General Secretary of the United National Party (UNP) and Wickramaratne act as the Treasurer to the party.

Jan 16, 2015 (LBO) – Sri Lanka’s port city project has to be fully reviewed due to its location at a high security zone , Minister of Investment Promotion said today. “We cannot have land given on freehold basis to another country in a high security zone and that is right in between the two […]

Jan 12, 2015 (LBO) – Sri Lanka’s newly elected president has appointed a new secretary to lead the treasury operations in the island replacing P B Jayasundera, the finance ministry said. R.H.S Samaratunga who was earlier the secretary of the petroleum ministry has assumed duties as the new treasury secretary on Monday. Samaratunga who has […]

Jan 12, 2014 (LBO) – Sri Lanka’s newly elected President Maithripala Sirisena appointed his maiden cabinet on Monday which comprises of 27 cabinet ministers, 10 state ministers and 8 deputy ministers. The swearing in ceremony held at the Presidential Secretariat. Addressing the gathering President Maithripala Sirisena said the new cabinet is a temporary cabinet appointed […]

Jan 11, 2014 (LBO) – Sri Lanka’s United People’s Freedom Alliance (UPFA), said that they will support the new executive President of the Island, Maithripala Sirisena’s 100 Day Work Programme. We would like to convey our wishes as UPFA to the newly appointed president Maithripala Sirisena, Nimal Siripala de Silva, Member of Parliament of UPFA […]

Jan 09, 2015 (LBO) – Sri Lanka’s Central Bank Governor Ajith Nivard Cabraal has informed His Excellency the President that he wishes to resign from the post of Governor with immediate effect, in order that the new President may appoint a new Governor. The new President Maithripala Sirisena has obtained 6,217,162 votes or 51.28 percent […]

Jan 08, 2014 (LBO) – Sri Lanka expects a US$ 100 billion market capitalization by 2020, the Chairman of Securities and Exchange Commission said yesterday.We hope to see about 7. 5 billion US dollars being raised through the capital market over the next six years which will add another US$ 30 billion as capitalization,” We […]

Jan 07, 2014 (LBO) – Sri Lanka’s Securities and Exchange Commission says, not only the private sector but also State owned Enterprises (SOEs) should be listed on the Colombo Stock Exchange, in order to achieve its USD 100bn market capitalization target by 2020. However, there are several commercial ventures that belong to government which are […]

Jan 05, 2014 (LBO) – Sri Lanka’s Central Bank said the Island reported a Balance of Payment or BOP surplus of 1,400 million US dollars in 2014. Sri Lanka’s exports grew by 10 percent to 11.4 billion dollars in 2014 and imports were up 7.8 percent to 19.4 billion US dollars in 2014. The trade […]

Jan 05, 2014 (LBO) – Sri Lanka’s Regional Development Bank or Pradeshiya Sanwardana Bank to issue debenture to raise 2.5 billion rupees which will be listed on the Colombo Stock Exchange, the bank said in a stock exchange filling. The bank plans to offer about 25 million unsecured, subordinated, redeemable debentures at 100 rupees each. […]

Since the end of the conflict in 2009, Sri Lanka has achieved economic growth above 7 percent on average and a relatively stable macro-economic position. Inflation and interest rates have been low, fiscal deficits have been steadily reduced, balances of payments have been stable, and investment in infrastructure has increased. However, household incomes have not […]

Jan 05, 2014 (LBO) – Sri Lanka’s Rupee was relatively stable amidst the volatility in the international currency market, the Central Bank has said. Now, in the normal condition that we have been used to, all those appreciations would have depreciated,” Nivard Cabraal , Governor of Central Bank said. “But this has taken place at […]