Category: Economy
Sri Lanka businesses; 90% sole ownership, 25% run by females: Census and Statistics Dept.
July 15, 2015 (LBO) – Sri Lanka has over 90 percent of sole ownership businesses in the island while 25 percent of the establishments are run by women entrepreneurs, a recent census showed.The Census and Statistics Department released data of its first Economic Census 2013/14 on the Industry, Trade and Services sectors. “The census has […]
Sri Lanka’s growth rate in past two years disturbed after GDP rebasing: Nivard Cabraal
July 14, 2015 (LBO) – Sri Lanka’s GDP growth rate in the past two years have been disturbed by a sinister action of politicians, former Governor of the Central Bank charged. Former Governor of the Central Bank Ajith Nivard Cabraal speaking at a special press briefing told reporters Tuesday that the new growth rate of […]
Sri Lanka projects have to be reassessed to reflect realistic numbers with GDP change: Harsha
July 09, 2015 (LBO) – Sri Lanka projects that based their assumptions using old GDP numbers have to be reassessed to reflect more realistic numbers, former Deputy Minister of Policy Planning Harsha de Silva said.Department of Census and Statistics on Thursday revealed that the growth numbers in the last two years has been reduced significantly […]
Sri Lanka’s growth rate numbers reduced in last two years with new base year change
July 09, 2015 (LBO) – Sri Lanka’s growth numbers in the last two years have been reduced with a new re-basing of national accounts estimates, Department of Census and Statistics said. Accordingly the growth rate for last year has been reduced from 7.4 percent to 4.5 percent and the growth in 2013 has been reduced […]
Sri Lanka’s 3 and 6 months Treasury bill yields up: Central Bank
July 8, 2015, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with 3-months yield up 03 basis points to 6.14 percent and 6-month yields also were also up 05 basis points, to 6.26 percent, data from the state debt office showed.It was decided to accept 12,918 million rupees from the […]
Sri Lanka exports to US rise with renewed GSP: Ministry of Industry & Commerce
July 8, 2015 (LBO) – Sri Lanka’s exports to United States are improving at a hectic pace helped by renewal of the GSP facility in June, Ministry of Industry and Commerce said in a statement. “US is the biggest consumer of Sri Lankan exports in the world as well as Lankan apparels,” Minister of Industry […]
Sri Lanka’s to probe into tsunami relief vehicles
July 8,2015 (LBO) – Sri Lanka’s Minister of Finance, Ravi Karunanayake, has initiated an inquiry into the importation of high-value vehicles for tsunami relief and subsequently given to third parties without paying due taxes and depriving the state of billions of rupees, a statement said.This was brought to light when a vehicle imported for a […]
‘s CB governor says “I was not in the dealing room.”,rejects COPE allegations
July 7, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that he never entered the tender board room where bids were assessed but gave instructions to accept bids of 10 billion rupees or more being in the corridor outside the Public Debt Department. He said while replying a reporter on the controversial […]
Central bank confident growth will pick up in 2Q; more private investments after election
July 7, 2015 (LBO) – Sri Lanka’s Central Bank says that more private sector investments would flow in to the country after the general election helping the island achieve seven percent economic growth in 2015. The Island’s economic growth for the first quarter of 2015 slowed to 6.4 percent compared to 7.6 percent in the […]
Sri Lanka government foreign borrowings at Rs137bn; Rs316bn to borrow
July 06, 2015 (LBO) – Sri Lanka’s government has already borrowed 137 billion rupees and plans to borrow another 316 billion rupees before the end of this year, Dr.Harsha de Silva said. As per the revised budget approved by the Parliament this year, 258 billion rupees is to be raised through foreign borrowings and another […]
Sri Lanka rupee may strengthen with foreign cash inflows for election: CB Governor
June 6, 2015 (LBO) – Sri Lanka’s rupee may strengthen supported by foreign inflows to finance an upcoming general election in September this year, Central Bank Governor Arjuna Mahendran told reporters recently.Mahendran said this in reply to a question raised by a journalist about the prediction made by Finance Minister Ravi Karunanayake on 23rd of […]
US reauthorized GSP, Duty Free Entry for 5000 products from 122 countries and territories
July 3, 2015 (LBO) – Sri Lanka’s Department of Commerce says that the US President has restored US Generalized System of Preferences (GSP) with effect from 29.06.2015 with retroactive respect including Sri Lanka.A statement said that the US President signed into law HR 1295 on June 29, 2015 re-authorizing the US GSP Programme until 31 […]