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Thu, 02 May 2024 Today's Paper
21 Jan 2014 - 0 - 9624
Efforts to drive the Sri Lankan apparel sector into a new growth phase may hinge on the success of the potential free trade agreement (FTA) in the offing with China, according to Joint Apparel Association Forum (JAAF) Secretary General Tuli Cooray.
09 Jan 2014 - 0 - 10491
Sri Lanka Tourism yesterday said it had topped the arrival target of 1.2 million tourists set for 2013, after it adopted a new method of calculation.
09 Jan 2014 - 0 - 10075
Sri Lanka will change its inflation index to change the basket of items and broaden coverage to the whole nation rather than just the capital city, the state-run statistics office said yesterday
08 Jan 2014 - 1 - 9690
Sri Lanka expects a moderation in the growth of remittance inflows in the future, owing to structural changes that are expected to take place in the economy.
08 Jan 2014 - 0 - 9602
Sri Lanka’s second largest trade partner in SAARC is looking for more Lankan exports in the coming year, while also eyeing Sri Lanka’s sugar sector entry,
08 Jan 2014 - 0 - 9333
The relatively low rate at which Sri Lanka sold its latest US $ 1 billion bond issue reflects the confidence international investors have placed in the sovereign bond issuances of Sri Lanka, the Central Bank said yesterday.
07 Jan 2014 - 0 - 8312
Sri Lanka yesterday commenced the sale of her sixth international sovereign bond. International rating agencies Fitch, Standard & Poor’s and Moody’s rated the bond at ‘BB-(EXP)’, ‘B+’ and ‘(P)B1’, respectively, in line with their respective sovereign credit ratings assigned to the country.
03 Jan 2014 - 0 - 8997
The Central Bank yesterday compressed the policy rate corridor to 150 basis points (bps) from the current 200 points, by cutting the rate for the lending of overnight funds to the banking system by 50 basis points, claming “volatility in the interbank call money market has reduced substantially.”
03 Jan 2014 - 0 - 8419
New foreign entrants to Sri Lanka’s banking sector will be required to incorporate their businesses locally commencing from 2016, according to Central Bank of Sri Lanka (CBSL) Governor, Ajith Nivard Cabraal.
27 Dec 2013 - 0 - 6915
Crude edged higher in Asian trade yesterday on supply concerns following escalating violence in oil-producer South Sudan, but gains were capped as dealers sat on the sidelines awaiting fresh leads after the festive season.
20 Dec 2013 - 0 - 6362
All Sri Lankan trade and business chambers must work together to foster improved standards of debate and discussion around economic and even social policy according to outgoing International Monetary Fund (IMF) Resident Representative to Sri Lanka and the Maldives, Dr. Koshy Mathai.
18 Dec 2013 - 0 - 5845
Export of Sri Lankan spices increased sharply to 40.4 percent Year-on-Year (YoY) from January to October of this year, boosted by a drastic rise in exports of pepper and Cloves, according to Spices & Allied Products Producers’ & Traders Association (SAPPTA) statistics.
17 Dec 2013 - 0 - 8098
Sri Lanka’s Central Bank (CB) will implement the third and the latest installment of Basel Accords— BASEL III beginning 2014, requiring the banks to further strengthen their capital buffers and also wanting them to decrease bank leverage, according to a CB official.
17 Dec 2013 - 0 - 10152
Sri Lanka Tourism welcomed a 13-member group from China’s ‘Travel Channel’, at the Bandaranaike International Airport, who arrived here to promote the Island aggressively in China via the Channel starting from January 2014.
13 Dec 2013 - 0 - 4843
The International Monetary Fund (IMF) cautioned the government for using banks and other financial institutions to borrow overseas on its behalf, as it could pose additional risks to the financial system.
11 Dec 2013 - 0 - 5026
The Sri Lankan government has started fresh talks with India, in a bid to bring changes to the existing Indo-Lanka Free Trade Agreement (FTA), as the controversial Comprehensive Economic Partnership Agreement (CEPA) has not come to fruition due to protest from various quarters, a top bureaucrat disclosed.
10 Dec 2013 - 0 - 3937
The Central Bank kept the policy rates unchanged for the month of December amid the recent pick up in the private credit and debt repayments by stateowned corporations, cutting the burden on state banksandthegovernment.
09 Dec 2013 - 0 - 5491
International Monetary Fund (IMF) expressed concerns over the recent budget proposal to reduce personal income tax rates, and described it as an act of giving away the money government badly needed.
09 Dec 2013 - 0 - 4751
Sri Lanka’s ship supplier industry must look to float a common bond in order to increase its lobbying power and push for concessions not granted with Budget 2014, according to Sri Lanka Ports Authority (SLPA) Harbour Master, Captain Ravi Jayawickrama.
29 Nov 2013 - 0 - 4624
Sri Lanka’s corporate sector must take more steps to strengthen its governance provisions and avoid lobbying for undue business advantages, CBSL Governor Ajith Nivard Cabraal said.
28 Nov 2013 - 0 - 5015
Sri Lanka’s private sector may have to look at models for superannuation and pension schemes in order to cope with the changing macroeconomic fundamentals, as Sri Lanka moves towards the middle-income country status, according to Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal.
28 Nov 2013 - 0 - 4658
Sri Lanka’s outstanding foreign commercial loan has jumped 36.2 percent within 18 months through end-June this year, an official document showed yesterday, as the island nation has been increasingly borrowing for post-war infrastructure revival.
27 Nov 2013 - 0 - 4007
Budget 2014 is widely deemed to be progressive and consistent with previous targets of reaching middle-income status by 2016, however Sri Lankans must now gear to face new challenges such as current, fiscal and democratic deficits faced by the country, according to Gajma Tax Consultant Senior Partner, N. R. Gajendran.
26 Nov 2013 - 0 - 5511
The Sri Lanka Banks’ Association (SLBA) yesterday said the issuance of traveller’s cheques has been stopped with immediate effect.
25 Nov 2013 - 0 - 4958
The 2 percent Nation Building Tax (NBT) extended to banks and financial institutions in the 2014 budget have created some confusion as no explanation has been given so far as to whether the said tax would be applied to the gross turnover or the profits.
22 Nov 2013 - 0 - 4833
In a bid to attract more companies to the Colombo Stock Exchange (CSE), the Budget 2014 extended the 3-year 50 percent tax holiday from 2014 onwards for new listings.
20 Nov 2013 - 0 - 4226
Tourist arrivals to the country during the month of October rose 27.9 percent from a year ago to 102, 805. The cumulative arrivals during January-October rose 16.8 percent Year-on-Year to 904, 015.
18 Nov 2013 - 0 - 3671
The Census and Statistics Department data showed the Sri Lankan economy grew 7.8 percent in third quarter (3Q) this year, accelerating from 6 percent and 6.8 percent recorded in 1Q and 2Q respectively.
15 Nov 2013 - 1 - 4802
The imports to the country during the month of September rose 23 percent Year-on-Year (YoY) to US $ 1.61 billion and exports grew by 11 percent to US $ 890 million, expanding the country’s trade gap by 41.1 percent or US $ 698 million, external sector data showed.
15 Nov 2013 - 0 - 27410
Property Alliance Capital, Australia and local ISL Holdings (Pvt) recently signed a Memorandum of Understanding with the Urban Development Authority (UDA) and the Board of Investment (BOI) over its US$ 450 million Prosperity Place mixed development alongside the Beira Lake.
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