Tag: Sri Lanka
Sri Lanka has scope for easing policy: CB Governor
May 03, 2013 (LBO) – Sri Lanka has scope to ease policy, because credit growth is slowing and the Central Bank has been selling down its Treasuries stock, Governor Nivard Cabraal said. When its Treasuries are sold down, through a ‘quantity tightening’ policy can be tight, analysts say, regardless of the actual policy rate. T-bill […]
Sri Lanka should keep monetary policy on hold: IMF
May 02, 2013 (LBO) – Sri Lanka should keep monetary policy on hold for the moment to build on economic stability based on low inflation, an International Monetary Fund official said. The balance of payments situation was also correcting, though lower imports had put pressure on state finances. But there had been no dramatic reversals […]
US builds public market, bus station in Eastern Sri Lanka
May 01, 2013 (LBO) – The United States has built a public market and bus station in Sri Batticaloa in Sri Lanka’s war torn Eastern Province which will help economic activities in the area, the American embassy in Colombo said.The newly constructed market and bus station in Pullumalai will help economic activities and also boost […]
Sri Lanka cigarette sales drop 14-pct in weaker economy
May 01, 2013 (LBO) – Sri Lanka’s Ceylon Tobacco Company Plc said cigarette sales dropped 14 percent in the March 2013 quarter from a year earlier, but profits dropped only 1.8 percent to 1,463 million rupees helped by wider margins. The firm reported earnings per share of 7.81 rupees for the quarter. CTC, a unit […]
‘s inflation eases to 6.4-pct in April
April 30, 2013 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 6.5 percent in April 2013, from a year earlier, easing down from 7.5 percent in March, the state statistics office said.The Colombo Consumer Price Index fell 0.5 percent or 0.8 points during the month to 170 points during the month helped by a […]
Sri Lanka loses 0.5-pct of GDP in taxes from state worker car permits
Apr 27, 2013 (LBO) – Sri Lanka has lost 38.5 billion rupees in potential revenues from imported vehicles due to tax-slashed permits given to state functionaries, a government estimate showed. The so-called ‘car permits’ are now being sold in the secondary market and state functionaries are making tax-arbitrage profits. The practice which was carried on […]
‘s deputy PM to visit Sri Lanka
Apr 27, 2013 (LBO) – Japan’s deputy Prime Minister Taro Aso and senior Vice Minister of Finance Yuko Obuchi will be on a two day visit in Sri Lanka from May 01, the Japanese embassy in Colombo said. They will meet President Mahinda Rajapaksa and visit the Port of Colombo, which has expanded over the […]
Australia rejects calls to boycott Sri Lanka meet
SYDNEY, April 27, 2013 (AFP) – Australia has vowed not to boycott the Commonwealth Heads of Government Meeting (CHOGM) in Sri Lanka over allegations of human rights violations, despite mounting calls not to attend.Backed by India, the United States and European nations, the UN Human Rights Council last month called for an investigation into suspected […]
Sri Lanka can remove obstacles to creating jobs: World Bank
Apr 25, 2013 (LBO) – Sri Lanka can help citizens better themselves by removing obstacles to creating new and better jobs, including for women, the World Bank said. The development agency based on the theme of its World Development Report 2013, says creating opportunities for jobs are critical for reducing poverty. “One of the biggest […]
Slipping
Apr 24, 2013 (LBO) – Demand for lubricants fell in the first quarter, on the back of a slowing economy and lower thermal power generation but profits at Sri Lanka’s Chevron Lubricant unit profits rose amid falling expenses, interim accounts showed.Floods had also hurt agriculture and users were moving to longer lasting higher technology lubricants. […]
India says aid projects progressing in Sri Lanka
Apr 24, 2013 (LBO) – An Indian foreign ministry committee has evaluated the progress of several projects funded by the country’s tax payer in Sri Lanka mainly in war torn areas in the north.India’s High Commission (embassy) in Colombo said a monitoring committee led by P S Raghavan, special secretary development administration and Bimal Julka, […]
Gold prices edge up in Sri Lanka
Apr 23, 2013 (LBO) – Sri Lanka’s gold prices have risen slightly from a week earlier along with a recovery in the international prices, industry players said.On Tuesday a gold sovereign (about 8.1 grams) the most popular benchmark price was quoted around 46,000 rupees for 22 carats, after falling from highs of 54,000 in March, […]