Category: Economy
Sri Lanka obtains Rs 684 bn borrowings for the 4 months to April 2015
June 22, 2015 (LBO) – Sri Lanka’s new administration has obtained 684.2 billion rupees gross borrowings for the first four months to April 2015, the cabinet spokesperson said last week. The approved amount of loans to be taken in the year 2015 is 1,780,000 million or 1780 billion.According to the data submitted by Ministry of […]
‘s state-owned enterprises in commercial business skew the market: Mano
June 22, 2015 (LBO) – Sri Lanka State-Owned Enterprises in commercial business have an unfair advantage over other private companies which leads to a skewed market, a private enterprise leader said. This problem is compounded when the public is not aware of the situation due to an unavailability of information, he added. “ In my […]
Watawala Plantation share purchase by T Sinthilverl
Jun 22, 2015 (LBO) Sri Lanka’s Watawala Plantations in a stock exchange filing said that T Sinthilverl has purchased 457,301 shares of Watawala Plantations on 19, June for a price ranging 22.50 – 23.00 rupees. “This increases his holding to 23,788,134 shares,” the statement said.His holding in the share capital has now increased to 10.05 […]
Mahinda Rajapaksa is afraid of me: Ravi Karunanayake
June 19, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says former President Mahinda Rajapaksa is afraid of him and evading the debate against him.“I see that Mahinda Rajapaksa is afraid, inexpert and doesn’t want to attend this debate,” Karunanayake charged.“Since Mahinda Rajapaksa is not coming, I’ll debate with Bandula on next Tuesday and […]
Ravi challenges MR again, asks for debate
June 18, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake challenged former Finance Minister and President Mahinda Rajapakse again to come for a debate on the national economy and financial policies.“I challenged former President Mahinda Rajapakse to debate to talk about the economy and what they did to the country at a public forum […]
Sri Lanka mulls national policy for economy after polls
June 17, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that the government plans to bring a national policy for the economy following the scheduled general election and the forming of a new government.“A National policy needs to be brought in.At the moment it is still a fragile situation,” Ravi Karunanayake told LBO […]
Investments will flow into Sri Lanka after polls: CBK
June 16, 2015 (LBO) – Investors are waiting for the upcoming election to finish in order to bring in new projects to Sri Lanka, former President Chandrika Bandaranayake Kumaratunge said.“We need to bring in investments and now the investors are ready to come,” she said at a recent media conference. “Because they know that the […]
Developing countries to face tough challenges in 2015: World Bank
June 11, 2015 (LBO) – The World Bank says, that developing countries would face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs as they adapt to a new era of low prices for oil and other key commodities, resulting in a fourth consecutive year of disappointing economic growth […]
Sri Lanka government revenues up 21-pct over the first five months of 2015
June 10, 2015 (LBO) – Sri Lanka’s government revenues have increased 21 percent over the first five months of this year against the same period last year, Deputy Minister of Policy Planning Dr. Harsha de Silva told Parliament Tuesday. As per the latest data the government has collected 492 billion rupees by May 2015 against […]
Australia helps Sri Lanka increase milk production
Jun 09, 2015 (LBO) – Australia’s Wellard Rural Exports, a live cattle exporter is in partnership with the National Live Stock Development Board (NLDB) of Sri Lanka to supply dairy cows and build new infrastructure to increase milk production, a statement said.“In phase one of the development project, Wellard supplied 2000 dairy cows to three […]
Sri Lanka’s Finance ministry to fund halted projects in Colombo
June 5, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake yesterday said that the government will allocate 1,296 million rupees for 390 projects in the Colombo District which were halted due to lack of funding.“These projects should have been completed last year.But the government has not given funds,” Karunanayake told LBO. “So now we […]
Sri Lanka’s exports decreases marginally, Imports down: Central Bank
June 02, 2015 (LBO) –Sri Lanka’s exports earnings declined marginally by 0.9 per cent, year-on-year, to 1,060 million US dollars in March 2015, led by tea followed by precious metals and textiles and garments exports, the Central bank said. Sri Lanka reported 1,070 million US dollars of exports in March 2014, the highest monthly earnings […]