Tourist arrivals to Sri Lanka in the month of May rose 21.8 percent to 70, 026 compared with the same period of the previous year, the data released yesterday by the Sri Lanka Tourism showed
Leading property developers welcomed last week’s exchange controls relaxations by the Central Bank, which permitted the repatriation of capital and capital gains from the sale of residential properties by non- residents.
The fall in Sri Lanka’s rupee currency is no cause for concern as foreign investors have been changing their positions rather than pulling out of the island nation’s bond market, Central Bank Governor Ajith Nivard Cabraal said.
Sri Lanka’s private commercial banks have significantly surpassed state-owned banks in funding Small and Medium Enterprises (SMEs) in 2012, a stark contrast to the situation in 2011, the latest annual report of the Ministry of Finance and Planning showed.
Sri Lanka has become one of the best countries for Investment since it can now boasts of a peaceful environment and a strong political stabilization after the cessation of hostilities which prevailed for over 30 years, a top cabinet minister said.
The Central Bank could take more steps to reduce high lending rates if commercial banks do not fall in line with monetary policy rate cuts, a top Central Bank official said yesterday..
During the past few years, Sri Lanka’s macroeconomic fundamentals have improved and the domestic financial sector has become stronger and more resilient
The short term Treasury bill yields fell at yesterday's auction held to re-issue Rs.12 billion maturing bills, the Public Debt Department of the Central Bank said.
Several publicly listed firms and leading business houses in the country have been offered some of the enterprises that were vested with the government under the Revival of Underperforming Enterprises or Underutilized Assets Act in 2011.
The composition of Sri Lanka’s foreign financing has undergone a major shift from concessional to non-concessional loans in 2012 with the country’s graduation to a middle income country, the latest Finance Ministry annul report showed.
Sri Lanka’s Central Bank is to issue guidelines to direct banks to cut lending rates and narrow the gap with the inflation rate, central bank Governor Ajith Nivard Cabraal said.
The country’s top authority entrusted to promote and develop tourism, the Sri Lanka Tourism Development Authority (SLTDA) should devise a meaningful strategic plan to promote the country’s biodiversity without merely focusing on mega projects, an environment conservationist notes.
Though the recent electricity tariff hike impact on the country’s overall inflation was taken too lightly by the government, it appears to have played a major role in pushing up the Colombo Consumer Price Index (CCPI) by 7.3 percent in May from 6.4 percent in April on a Year-on-Year (YoY) basis.
Sri Lanka aims to cut its foreign currency debts and short-term domestic borrowing under a medium-term debt management plan, the central bank said on Friday, after it failed to achieve its debt-to-GDP target last year.
The Economic Development Ministry is in discussion with the Board of Investment (BoI) to reduce the minimum initial investment threshold for BoI ventures expecting to set up operations in Sri Lanka, in a bid to attract small and medium scale foreign direct investments (FDIs) to the investment hungry nation.
The Central Bank (CB) will issue a Rs.2 billion Treasury bond with a 30-year tenure at an auction today. The bond will carry a 9.0 percent coupon with a maturity date of June 01, 2043.
Tourist arrivals to Sri Lanka increased by 14.7 percent year-on-year (YoY) to 79,829 during the month of April.
With 2 years to go for the 2015 Millennium Development Goal (MDG) deadline, Sri Lanka appears to have made notable progress in many fronts, particularly in areas of achieving universal primary education enrollment and water supply & basic sanitation (WSS), Asian Development Bank (ADB) showed.
Sri Lanka’s construction sector professionals recently called to cut down the number of foreign consultants, contractors and labourers employed in mega infrastructure projects taking place in the country, stressing the practice has proved detrimental to the local construction industry.
Despite government investments in the economy increasing as a percentage of GDP as well as in absolute terms during 2012, the International Monetary Fund (IMF) points out that Sri Lanka’s public investment is low compared to countries that have experienced sustained high growth.
Despite generally stronger economic growth achieved by Sri Lanka during the recent past, the International Monetary Fund (IMF) claims that the growth has failed to reduce poverty at a similar pace, particularly in less - developed provinces.
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