Tag: news

Dec 12, 2014 (LBO) – Sri Lanka’s economic growth will be driven by tapping into global market through exporting high value manufacturing products, agricultural products and services, a senior economist said. Sri Lanka is a 67 billion dollar economy, which I think not large by any strategy imagination, Deshal de Mel, Senior Economist of Hayleys […]

Dec 12, 2014 (LBO) – Sri Lanka Central Bank says the current monetary policy stance is appropriate and accordingly decided to unchange the policy rate corridor at 6.50 percent to 8.00 percent, respectively. The impact of the contraction in pawning advances on the overall credit growth that was observed since early 2013 has now ended, […]

Dec 11, 2014 (LBO) – Sri Lanka has been removed from the list of off-shore countries from Belarus, benefiting Sri Lankan exporters a 15 percent tax waiver out on remittance of their export earnings back to Sri Lanka, Minister of Industry and Commerce of Sri Lanka said in a media a release. The total trade […]

Dec 10, 2014 (LBO) – Sri Lanka’s Securities and Exchange Commission’s chief said that, stock market is an alternative financial tool to raise capital for business activities and therefore Northern Province should take advantage of it and derive the benefits of capital market investments. More than 250 participants including professionals, academics and the business community […]

Dec 07, 2014 (LBO) – The Government of Sri Lanka reduced the prices of fuel and gas with effect from midnight Friday, a media report said. The price of a 12.5 kilogram domestic gas cylinder have been reduced by 250 rupees. Price of a liter of petrol and diesel have been reduced by seven rupees […]

Dec 05, 2014 (LBO) – Sri Lanka’s economy is stable and moving towards reducing poverty in the Island, Central Bank Governor, Ajith Nivard Cabraal said. He said electricity, road development and better income is needed to achieve this target. In 2005, only 72 percent of the county’s population were given electricity and 28 percent haven’t […]

Dec 01, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track, completing 07 banks and finance and leasing companies’ (NBFIs) given approval for mergers and recapitalization during November 2014 and another 22 NBFIs and 4 banks are in progress for completion in due course, the Central Bank said. One-to-one meetings chaired by the […]

Dec 01, 2014 (LBO) – Sri Lanka’s Central Bank says that the foreign banks in Sri Lanka are expected to show greater participation in economic activities. Foreign banks in Sri Lanka are expected to demonstrate a greater participation in economic activities and to make significant contribution to the economy, Central bank said in a recent […]

Nov 29, 2014 (LBO) – Sri Lanka’s inflation, continued its decelerating trend observed since June 2013 and reached 1.5 percent in November 2014 compared to 1.6 percent in October on an annual average basis which is lowest since November 2009, the Central bank of Sri Lanka said in a media release. The data is based […]

Nov 27, 2014 (LBO) – The gold that recovered from illegally operated banks by LTTE will be handed over to their rightful owners by the government of Sri Lanka as a gesture of goodwill, a media report said. The government has identified about 2379 owners after going through stringent identification and verification process the report […]

Nov 24, 2014 (LBO) – The Asian Development Bank loans 150 million dollars as a the first tranche for the project of implementation of Green Power Development and Energy Efficiency Improvement Investment in Sri Lanka, a media release said. The total investment cost of program is estimated about 440 million US dollars and ADB has […]