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Wed, 24 Apr 2024 Today's Paper
30 Oct 2014 - 0 - 24720
The recently concluded Sri Lanka Economic Association (SLEA) annual sessions saw many users of the published national data highlighting inconsistencies and questioning the methodological soundness of the official data.“I see inconsistencies, a lot of inconsistencies, as a user of national income data. The growth rate is rising so fast, in fact, faster than the levels before. The per capita income has been rising.But, at the same time, I
30 Oct 2014 - 1 - 24952
The 2015 budget is ushering a new era for the country’s development, according to Central Bank (CB) Governor Ajith Nivard Cabraal, who was speaking at the KPMG Budget Highlights event, recently.“Now you see a new beginning, where the focus is no longer what was there in the past, but a new focus has been created in our country,” he said.He said that plans for recent budgets were all followed and achieved systematically
28 Oct 2014 - 0 - 24503
While commending the government for presenting a budget focusing further fiscal consolidation—specially for proposing to cut the fiscal deficit to 4.6 percent of the gross domestic product (GDP)— Sri Lanka’s premier trade chamber, the Ceylon Chamber of Commerce (CCC) proposed a “degree of fiscal stimulus” to prop up slowing demand seen in the market recently.“Whilst there is a proposed 15 percent increase in
27 Oct 2014 - 0 - 27954
Overseas Realty (Ceylon) PLC Group profit after tax, including fair value gains, increased by 28% to Rs 2.4Bn over the previous period. The group maintained a worthy growth momentum to achieve a revenue of Rs 4.7Bn, increased by 41 % through Property Leasing, Trading and Service Segments.
27 Oct 2014 - 0 - 26800
Pan Asia Banking Corporation PLC said its Rs.3 billion debenture issue opened on October 24, was oversubscribed on the same day.The Bank in a bid to fuel its strong growth momentum and capital requirements issued 20 million unsecured subordinated redeemable debentures at an issue price of Rs.100 each.
24 Oct 2014 - 2 - 36136
The Central Bank of Sri Lanka (CBSL) will be completely removing its capital account foreign exchange controls for locals within the next 2-3 years to realize the government’s goal for t he country as a global business hub.“Global business means there can be no foreign exchange controls. People will deal with any currency. Next 2-3 years our country will also be a global business centre. There will not be exchange controls a
23 Oct 2014 - 0 - 28635
Central Bank (CB) Governor Ajith Nivard Cabraal urged the banking fraternity to shift from the traditional mind-set of collateralized lending to serve the financial needs of the emerging middle class.Speaking at the 26th anniversary convention of the Association of Professional Bankers of Sri Lanka, Cabraal stressed the importance of extending non-collateralized lending with ‘earnest’.“You also need to now look at movi
23 Oct 2014 - 0 - 27570
Lanka Rating Agency (LRA) has reaffirmed Trade Finance & Investments PLC’s (TFI) long-and short-term financial institution ratings at BB+ and NP.Concurrently, the ratings have been placed on a Rating Watch Positive. Meanwhile, the ratings are upheld by TFI’s above average asset quality, strong capitalisation and healthy performance.
23 Oct 2014 - 0 - 30465
In spite of Sri Lanka’s Islamic population accounting for 10 percent of the total population and their economic contribution is as high as 15 percent to the gross domestic product (GDP), the country’s Islamic finance sector has been growing at a unsustainable pace and thus, has failed to see its full potential, according to the country’s top Islamic finance professional.
22 Oct 2014 - 0 - 25985
Responding to the ‘creditless growth’ criticism by some quarters, Dr. Weerasinghe said there was a shift in financing the current high levels of economic growth from private credit to off-shore financing, but said economic growth without credit growth is not sustainable.
26 Sep 2014 - 0 - 28170
Foreign Direct Investments (FDIs) into the country during the first eight months of the year has surpassed the billion dollar mark, according to the country’s Investment Promotion Minister.
23 Sep 2014 - 0 - 25268
In response to a longstanding cry by the spices and allied exporters, action is now underway to obtain the Geographical Indication (GI) for Ceylon cinnamon and other allied products......
23 Sep 2014 - 0 - 19314
Grand Prize, a Rs. 4 million worth brand new Chery Tiggo SUV, daily and weekly cash prizes on offer
28 Aug 2014 - 0 - 17098
The Seychelles invited Sri Lanka t o use t heir country as a platform to dive into the virtually untapped African continent with trade and investment, at the Seychelles Trade and Investment Forum held yesterday.
25 Aug 2014 - 0 - 6167
Etisalat Lanka recently kicked off its latest promotion ‘Game of Tunes’ launched at the Samanala Grounds, Galle to reward its loyal users of Personal Ring Back Tones (PRBT), more commonly known as Call-A-Tunes.
18 Aug 2014 - 0 - 8697
Motor car registration figures for July show a significant increase with 2,551 registrations, compared to 2,256 in June and 2,305 year-on-year (yoy), with 827 brand new cars composing the figure, according to JB Securities’ market research.
04 Aug 2014 - 0 - 7547
In response to a longstanding cry by the spices and allied exporters, action is now underway to obtain the Geographical Indication (GI) for Ceylon cinnamon and other allied products of which the geographical origin and its possessed qualities will be identified with a unique sign in the international market place.
18 Jul 2014 - 0 - 4741
The Board of Investment of Sri Lanka recently engaged in investment promotion at an important event held in Tel Aviv, Israel.
14 Jul 2014 - 0 - 5377
Sri Lanka's trade deficit narrowed 47.9 percent year-on-year (yoy) in May to US $ 393.4 million amid improved export earnings and lower imports, the data released by the Central Bank showed
10 Jul 2014 - 0 - 6516
External liquidity support is still very much a possibility for Sri Lanka from the International Monetary Fund (IMF) or from any other bilateral lender if such a requirement arises, according to a US-based credit rating agency.
02 Jul 2014 - 0 - 5870
Despite Sri Lanka currently not being in a state of war and not facing foreign invasion, the country is ceaselessly engaged in cyber warfare, and a gap in the lines may bring the country’s economy to its knees, Central Bank Governor, Ajith Nivard Cabraal said.
01 Jul 2014 - 0 - 5363
Sri Lanka’s year-on-year (YoY) inflation in the month of June eased to 2.8 percent from 3.2 percent in the previous month, the data released by the Census and Statistics Department showed.
23 Jun 2014 - 0 - 5745
Sri Lanka’s April trade deficit contracted 17.7 percent year-on-year (YoY) to US $ 682.2 million amid higher export earnings and moderate import expenditure, the latest Central Bank data showed.
20 Jun 2014 - 1 - 6403
The recent unfortunate incidents that erupted in Aluthgama and Beruwala areas will have an adverse impact on the country’s tourism sector in the backdrop of Middle East being the fourth largest inbound tourist market for Sri Lanka, according to tourism industry stakeholders.
20 Jun 2014 - 0 - 15284
The Sri Lanka Tea Board has appointed Mike Bunston OBE, an eminent personality in the international tea trade with over 56 years of experience as Honorary Te a Ambassador for Sri Lanka in the United Kingdom.
19 Jun 2014 - 0 - 5790
The Monetary Board of the Central Bank yesterday decided to maintain the policy rates unchanged for the month of June despite the private sector credit growing at a slower pace of 3.3 percent in April, compared to 4.3 percent in March.
19 Jun 2014 - 0 - 5203
The Ceylon Motor Traders’ Association (CMTA), an industry body consisting of automotive franchise holders, cried foul at the recently implemented valuation method on imported vehicles and urged the authorities to immediately withdraw the new method.
11 Jun 2014 - 0 - 7778
The new tank farm complex and the bunkering terminal of the Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) in Hambantota is set to be opened on June 22 by President Mahinda Rjapaksa, a media statement by the Sri Lanka Ports Authority (SLPA) said.
05 Jun 2014 - 0 - 6738
Central Bank Governor Ajith Nivard Cabraal said he would not expect the US Federal Reserve to take account of its actions on developing economies when time comes for the end of quantitative easing and every emerging market should be prepared for Fed tightening.
30 May 2014 - 0 - 6501
Despite failing to achieve the target of US $ 2 billion in foreign direct investments (FDIs) last year, Investment Promotions Minister Lakshman Yapa Abeywardena said they are confident of their ability to exceed the mark of US $ 2 billion this year.
2 hours ago