Category: Economy

SYDNEY, Dec 17, 2012 (AFP) – Australia announced Monday plans to boost intelligence sharing with Sri Lanka to try to halt a wave of boatpeople that has seen thousands arrive illegally on its shores this year. Foreign Minister Bob Carr, who is in Colombo for a three-day visit, said he would discuss the idea during […]

Dec 17, 2012 (LBO) – Razeen Sally, association visiting professor of Lee Kuan Yew School of Public Policy will speak in Colombo on December 20, Sri Lanka’s Lakshman Kadirgamar Institute for International Relations and Strategic Studies said. He will speak on the ‘Emerging World Order and Sri Lanka’s Role, at the Kadirgamar Institute at Horton […]

Dec 17, 2012 (LBO) – Foreign currency denominated debt is expected to fall as a ratio of current receipts in except for Sri Lanka and Mongolia, where it will remain high, Fitch Ratings said in a report which tracked 12 emerging Asian nations. If the central bank then sterilizes the forex interventions with fresh money […]

Dec 14,2012 (LBO) – Sri Lanka’s recent growth has been strong and ahead some of the fastest growing economies in Eastern Europe, Latin America and Asia, but inflation and national debt has to fall, IMF’s resident representative Koshy Mathai said. Economic growth in the last two year has averaged around 8. 0 percent which was […]

Dec 14, 2012 (LBO) – Sri Lanka’s war refugees will get 1. 9 billion rupees of financial help from the European Union to rebuild 4,000 houses with additional funding from Switzerland and Australia. House will be build on an ‘owner-driven’ model. UN-Habitat and SDC will give money and technical help and owners will contribute their […]

Dec 12, 2012 (LBO) – Sri Lankan firms can benefit from being more inclusive, and while comprehensive diversity policies were still rare, many were making a start by promoting equal opportunity and combating sexual harassment, top executives said. Kasturi Chellaraja Wilson, managing director, Transportation Sector, Hemas Holdings recalled an instance where a new person who […]

Dec 12, 2012 (LBO) – Sri Lanka has cut its main policy rate at which money injected to banks by 25 basis points to 9. 50 percent to boost loans and the Central Bank said a credit ceiling would expire by the end of this month. “The Central Bank has been carefully monitoring the developments […]

Dec 11, 2012 (LBO) – Credit ceilings imposed on Sri Lanka’s commercial banks had served their purpose and were part of temporary measures to stabilize the economy, deputy Central Bank Governor Nandalal Weerasinghe said. In February 2012 Sri Lanka raised interest rates, imposed an 18 percent cap on commercial bank credit growth and partially floated […]

Dec 05, 2012 (LBO) – Sri Lanka is expecting a ‘balance of payments’ surplus of 380 million US dollars in 2012 the latest Central Bank projection said, down from a 1.25 billion US dollar projection in May. For 2013 the Central Bank is projecting a BOP surplus of 780 million US dollars, according to a […]

Dec 04, 2012 (LBO) – Prices of ‘permits’ issued to state workers to buy tax slashed cars have plunged in the secondary market, following the effective legalization of a re-sale process, sources familiar with the market said. The price of a tax slashed permit for an standard family sized car had fallen from about 1.5 […]

Dec 03, 2012 (LBO) – Import based taxes have slowed in the second half partly due to a sharp reduction in vehicles, though building material imports were still up, a top customs official said. Neville Goonewardene, who headed Sri Lanka’s customs department, told a forum of importers that the agency was given a target of […]

Nov 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9.5 percent in November 2012 from a year earlier, accelerating from 8.9 percent a month earlier, data from the state statistics office showed. The Colombo Consumer Price Index rose 1. 3 percent to 167.1 points during the month, with the food component […]