Category: Economy and Markets
Online property searches in Colombo up 28-pct in Q1: Lamudi
May 02, 2017 (LBO) – Property portal Lamudi’s real estate market report on Sri Lanka says that there is a 28 percent increase in searches for property in Colombo in the first quarter of 2017 against the same period last year. Between 2014 and 2015, data from Lamudi showed a 20 percent increase in searches […]
John Keells to encourage innovators with Open Innovation Challenge
May 02, 2017 (LBO) – Sri Lanka’s blue chip John Keells Holdings plans to boost local creative and intellectual talent with the launch of its second John Keells X “Open Innovation Challenge 2017” The programme will allow teams of aspiring innovators to compete for a chance to win entry into a six-month accelerator programme at […]
Sri Lanka vehicle registrations rebound to 39,173 units in March: JB Securities
May 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka recorded 39,173 units in March, significantly up from 30,036 the previous month, with a rebound in two-wheeler registrations, JB Securities said in a research note. On most categories, there was a rebound due to higher number of working days and pre-holiday season push from […]
EU Parliament rejects motion to deny GSP+ for Sri Lanka
Apr 27, 2017 (LBO) – Sri Lanka won the vote in Brussels by 436 against and 119 in favor for the motion to deny GSP plus for Sri Lanka. A group of EU parliamentarians last week forwarded a motion to deny Sri Lanka access to GSP Plus, citing the slow pace of essential reforms in […]
Next IMF tranche by June, reserves comfortable by year end: Ravi
Apr 27, 2017 (LBO) – Sri Lanka’s Finance Minister said he was optimistic about talks on reaching a staff level agreement with the International Monetary Fund for the next phase, and that the next tranche would be released by June. “I think the tranche that was due April will come by June, there were some technical difficulties like […]
Higher growth for Sri Lanka will depend on addressing structural issues: CB
Apr 27, 2017 (LBO) – Sri Lanka’s economic performance in 2016 reconfirmed the necessity of addressing deep rooted structural issues, in order to enable the country to progress towards a higher growth trajectory, the Central Bank said. “Along with strengthening macroeconomic fundamentals through improved fiscal performance and the conduct of monetary policy in a forward […]
Sri Lanka to double Development Bond limit to raise liquidity
Apr 26, 2017 (LBO) – Sri Lanka’s Finance Ministry is to increase the limit of issuing Sri Lanka Development Bonds (SLDBs) from 1,500 million US dollars to 3,000 million dollars including development bonds due to expire this year. Cabinet approval has also been granted to this proposal considering the low liquidity situation and interest rates […]
Petroleum union negotiations successful, strike called off
Apr 25, 2017 (LBO) – The Ceylon Petroleum Corporation (CPC) unions called off their strike late on Monday following successful discussions with Sri Lanka’s Prime Minister and Petroleum Minister Chandima Weerakkody. Employees of the Ceylon Petroleum Cooperation launched a strike from midnight Sunday opposing an agreement to be signed with India regarding developing the Trincomalee […]
WB and IMF to send team for solid waste management
Apr 24, 2017 (LBO) – World Bank and the International Monetary Fund have agreed to send a special team to the island to inspect solid waste management, the finance ministry said in a statement. The comments were made to Finance Minister Ravi Karunanayake during the G24 Finance Ministers’ meeting where the current economic performance of […]
Sri Lanka stocks get Rs14.3 bln foreign inflow, ASPI +4.9 pct in 2017
Apr 24, 2017 (LBO) – The Colombo Stock Exchange (CSE) in recent weeks has seen interest among foreign institutional investors, with the ASPI rallying 4.9 percent so far this year on foreign inflows of 14.3 billion rupees. The Benchmark ASPI recorded consistent gains in April crossing the 6,500 mark on Thursday. The S&P SL 20 […]
Fairway Waste Management says processing facility on schedule
Apr 24, 2017 (LBO) – Fairway Waste Management said its solid waste processing facility, being built in Colombo, was an important step taken recently to tackle Colombo’s solid waste problem. “In the aftermath of the recent unfortunate incident in Meethotamulla, the ‘Waste Free-Clean City’ project in Karadiyana, which has been awarded to Fairway Waste Management […]