Tag: Sri Lanka

Mar 29, 2011 (LBO) – Sri Lanka’s per-capita income at market prices was estimated at 271, 259 rupees or 2,399 US dollars in 2010, up 14.7 percent in rupee terms or 16.6 percent in dollar terms from 2009, the government said. The Department of Census & Statistics (DCS) said in a statement Private Final Consumption […]

Mar 29, 2011 (LBO) – Sri Lanka’s construction industry and housing market grew strongly in 2001 compared with the year before driven by infrastructure projects, resettlement after a war and increased borrowing. The construction sub sector of gross domestic product grew 9.3 percent in 2010 from a growth of 5.6 percent the previous year, the […]

Mar 28, 2011 (LBO) – Sri Lanka’s 28. 1 percent credit growth in the 12 months to January 2011 “is not alarming” because it is growing from a low base following a credit crunch two years ago, but the trend is being watched, Central Bank governor Nivard Cabraal said. In 2009, Sri Lanka’s credit contracted […]

Mar 26, 2011 (LBO) – Sri Lanka is dealing with fresh challenges as a middle income country in education, the health sector while coping with a rapidly ageing population, after the end of a war, the World Bank has said. World Bank said it was ready to help the country with knowledge resources. Sri Lanka […]

Mar 24, 2011 (LBO) – Sri Lanka’s Master Divers (Pvt) Ltd, the parent of Pelwatte Sugar Industries said it had sold down 2.66 million shares at prices ranging from 37.10 to 40.10 rupees. By December 2010, Master Divers had 81.74 percent of Pelwatte Sugar and Master Divers chairman Ariyaseela Wickramanyake had a 3.24 percent stake. […]

Mar 24, 2011 (LBO) – Four areas of Sri Lanka’s capital Colombo run by local government bodies will be brought under a new state entity whose head will be appointed by the island’s president, the government’s information office said. Areas coming under Colombo Municipal Council, Dehiwela-Mt Lavinia Municipal Council, Sri-Jayawardenapura- Kotte Municipal Council, Kolonnawa Urban […]

Mar 24, 2011 (LBO) – Sri Lanka’s foreign direct investments will pick up with planned projects in ports and hotels valued at 500 million dollars each, finance ministry secretary P B Jayasundera said. He said a concession agreement has been signed in the Colombo port for a new terminal that will need 500 million US […]

Mar 21, 2011 (LBO) – The commissioning of a coal power plant this week can reduce oil imports to Sri Lanka while also helping strengthen the finances of Ceylon Electricity Board, the state power utility. “That will reduce total oil bill,” Cabraal said. Oil is an important intermediate good for economic activity, fueling both transport […]

SINGAPORE, March 21, 2011 (AFP) – The massive quake and tsunami of March 11 could cost Japan’s economy up to $235 billion, or 4.0 percent of output, but reconstruction will spur recovery later this year, the World Bank said Monday. “If history is any guide, real GDP growth will be negatively affected through mid-2011,” the […]

Mar 20, 2011 (LBO) – Several years of accumulated ‘off-budget’ energy subsidies have now come home to roost in the Sri Lanka’s national debt, laying bare a tangled web of state energy price manipulation and budgeting. Sri Lanka’s Treasury, the agency that collects taxes from the people and also issues debt against future taxes collectable […]