The International Monetary Fund (IMF) yesterday cautioned the government of the changing debt dynamics, which could have unfavourable repercussions in the years to come and called for immediate fiscal adjustments.
The European Chamber of Commerce of Sri Lanka (ECCSL) recently launched the European Union-Sri Lanka (EUSL) Investor Dialogue, to identify barriers and constraints faced by the European investors in Sri Lanka and find solutions to these issues.
The Sri Lankan rupee edged down to a near eight-month low in early trade yesterday as the Central Bank asked banks not to buy dollars beyond 130.60 with the local currency remaining under pressure on concerns of further foreign outflows.
Prolonged heavy showers and strong gale force winds have drastically impacted tea production with some estates having recorded only 40 percent of their estimated average yield in the past two months, Planters' Association said in a statement.
Overtaking China, Japan became the single largest development finance provider to Sri Lanka during the first four months.
The total outstanding debt of t he country’s non-financial state-owned business enterprises (SOBEs) has swollen by as much as Rs.12 billion during the first five months to Rs.333.3 billion by the end of May 2013, Mirror Business observes.
Hot on the heels of Moody's downgrading the outlook on Sri Lanka; the Central Bank (CB) expressed its displeasure over the rating action by the international rating agency and said it actually warrants an upward revision given the constructive policy measures taken by the authorities.
M.V. Leon - M fuel tanker from Singapore called at the Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) recently with several loads of Marine Gas Oil for testing and pre-commissioning of the bunker facilities of the port, upon completion of its Phase I.
International rating agency, Moody's has slashed outlook on Sri Lanka's B1 sovereign rating from positive to stable due to slow growth of the country's foreign reserve position and higher debt burden
Oceanpick is set to embark on Sri Lanka’s first ever oceanic farm for finfish this August with an investment of approximately US$ 2.5 million.
Aggressive policy rate cut in May followed by a reduction of the Statutory Reserve Requirement (SRR) by commercial banks may insert inflationary pressure, pushing headline inflation even beyond 10 percent over the next 12 months, a local stockbrokerage warned.
Newly elected Chairman of the Ceylon Chamber of Commerce (CCC), Suresh Shah called for improved cooperation among private sector entities in order to respond to both economic and socio-political challenges besetting Sri Lanka.
The Central Bank of Sri Lanka (CBSL) will be reducing the Statutory Reserve Requirement (SRR) on all rupee deposit liabilities of commercial banks by 2 percent to 6 percent with effect from July 1, 2013, in a bid to induce banks to cut lending rates.
The recent electricity tariff hike is expected to hinder the corporate earnings of most listed companies during the June quarter and the early part of the September quarter this year, with companies having to absorb the rising cost in the immediate short term, according to a research arm of a local stockbrokerage.
The long term Treasury bill yields fell at the T-bill auciton held yesterday to re-issue Rs.12 billion maturing bills, the Public Dept Department of the Central Bank said
International Monetary Fund (IMF) resident representative Koshy Mathai reiterated the need to attract Foreign Direct Investment (FDI) to the country in order to continue the growth path Sri Lanka has set herself with the end of the 30-year long conflict.
Sri Lanka Customs is looking to improve facilitation procedures in order to support trade and boost revenue, according to Director General, Jagath Wijeweera.
The consumer demand for chicken dampened in the first quarter this year due to a drop in purchasing power hindered by the inflation, which remained elevated towards high single digit levels, according to John Keells Stock Brokers (Pvt) Ltd. (JKSB).
Treasury bill yields remained steady at today’s T-bill auction held to reissue Rs.12 billion maturing bills, despite 3-month bill yields edging down by one basis point to 8.66 percent
A Chinese investor has secured the deal to create the proposed 500 acre ‘Port City’ on reclaimed land on the sea off the Galle Face Green, of which the first stage is believed to cost US $ 700 million, a top Ports Authority official confirmed.
Sri Lanka's economy grew 6 percent in the first quarter of 2013 vis-à-vis 6.3 percent growth the country recorded in the previous three months, the 2013 first quarter GDP data released by Census and Statistics Department short while ago showed.
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