Tag: Finance

Nov 30, 2011 (LBO) – Sri Lanka’s inflation rose to 4. 7 percent in November 2011 from a year earlier decelerating from 5. 1 percent in October, but prices rose 0.7 percent during the month, the state statistics office said. Central Bank Governor Nivard Cabraal has said that policy rates will be kept steady in […]

Nov 28, 2011 (LBO) – A unified South Asian institutional framework to handle migration issues would help improve the status of millions of expatriate workers and combat human trafficking, economists and officials said. Richard Denziger, chief of mission of IOM Sri Lanka said a regional consultative process would bring together governments and international organizations for […]

Nov 25, 2011 (LBO) – Sri Lanka’s food processing, education and health sectors and business process outsourcing sectors are of interest to the United Arab Emirates, visiting minister of foreign trade Lubna Al Qasimi has said. Minister Bathiudeen said Sri Lanka has free and preferential trade agreements with India and Pakistan and South Asia giving […]

Nov 23, 2011 (LBO) – China has emerged as the top lender to Sri Lanka in the nine months to September 2011, in terms of money actually disbursed and loans committed for new projects, finance ministry data shows. Up to September 2011, China has disbursed 599. 9 million US dollars out of a total of […]

Nov 24, 2011 (LBO) – Sri Lanka has appointed competent authorities, a ministerial committee and a three member compensation committee to deal with 37 expropriated assets and enterprises. It is made up of foreign employment minister Dilan Perera, minor export crop promotion minister Reginald Cooray, productivity promotion minister Lakshman Seneviratne, deputy finance minister Geethanjana Gunawardena. […]

Nov 23, 2011 (LBO) – Sri Lanka’s private sector has been called upon to make big investments using tax savings and gains from incentives given by government, and banks urged to lend more to small business. Treasury secretary P B Jayasundera said the government was managing to maintain public investment at around six percent of […]

No 22, 2011 (LBO) – Sri Lanka’s unemployed graduates who have received a ‘free’ education at at tax payer’s funded universities are taking aim at another tax grab with a lifetime job and pensions in an already bloated state sector, according to media reports. Others who earn degrees with their own money from affiliated private […]

Nov 22, 2011 (LBO) – Sri Lanka has managed to gradually reduce the government budget deficit without cutting public investment which is needed to build the capacity to enable private investments, an official said. Treasury secretary P B Jayasundera said the government was maintaining the downward momentum in budget deficits and inflation had been brought […]

Nov 22, 2011 (LBO) – Sri Lanka’s main business chamber has approved the sudden devaluation of the rupee saying it would boost exports and urged the government to consult plantation firms whose uncultivated lands are being taken. The Ceylon Chamber of Commerce said the government’s 2012 budget presented to parliament Monday “maintains the consistent fiscal […]

Nov 21, 2011 (LBO) – A Venezuela-style law to expropriate dozens of private enterprises will hurt the economy, undermine policy predictability and scare investors despite state assurances that it will be a ‘one off’, UK-based Economist Intelligence Unit said. EIU said the law which deemed some 37 firms as ‘under-utilized’ or ‘under-performing’ also resembled similar […]

Nov 21, 2011 (LBO) – Sri Lanka’s economy is expected to grow between 8. 5 to 9.0 percent in 2012 and inflation would be kept in the mid single digits, the Central Bank said in a report released ahead of the budget. Exports are projected at 14 percent and imports at 10 percent. Growth in […]

Nov 21, 2011 (LBO) – Sri Lanka is likely to meet the deficit target of 6.8 percent of gross domestic product set for 2011, with the gap in the first eight months contained at 5. 3 percent of GDP down from 5.6 percent a year earlier, the Central Bank said. In rupee terms the gap […]