To make the most when interest rates are down, the government is to issue Treasury bills worth Rs.20 billion and Treasury bonds worth of Rs.9 billion through the auction that will take place today and tomorrow, the Public Debt Department of the Centr

The Monetary Board of Sri Lanka yesterday decided to keep the policy rates unchanged during the first month of 2013, following a 25 basis points rate cut last December to spur growth.

The weakened economic growth in the South Asian region in 2012 is expected to pick up in 2013 with the Sri Lankan economy poised to grow at 6.8 percent, despite the Central Bank’s forecast of a 7.5 percent growth, a World Bank report said.

Further hikes in fuel and electricity prices are expected in the coming months as a result of government’s attempt to curb losses incurred by stateowned Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB), thereby creating inf

The Sri Lankan rupee edged down yesterday due to importer dollar demand, but currency dealers said foreign inflows into government securities could boost the currency in the near term.

Sri Lanka Customs is set to go fully online from end March 2013, with the implementation of latest version of Automated System for Customs Data, widely known as ‘ASYCUDA World’, , according to the Treasury Secretary.

The Sri Lankan rupee rose to a nine-month closing high on Thursday due to foreign inflows into government securities despite the central bank buying dollars to prevent a rapid appreciation, dealers said.

The present inclement weather conditions in the country may affect the tea intake in January as it has resulted in poor worker turnout in the plantations, John Keells Tea Brokers said.

The emerging high-beta sovereigns of Sri Lanka are expected to underperform over the next 6-12 months, said a leading global banking group, while maintaining a ‘stable’ outlook on most Asian sovereigns, adding that ‘positive’

The Sri Lankan rupee rose 0.8 percent to a nine-month closing high yesterday, helped by inflows into government securities and dollar sales by exporters and banks expecting the rupee to strengthen further, currency dealers said.

Following the lifting of the 18 percent credit ceiling with the ending of 2012, the Central Bank recently gave a clear indication of its commitment to maintain the amount of the credit to the private sector at 18.5 percent during 2013.

The government last week lowered the country’s 2013 foreign direct investment (FDI) target to US$ 1.5 billion, clearly implying that Sri Lanka had failed to materialize the original target of US$ 2 billion for 2012, which was later revis

If the present trend in tea prices is to continue, the industry could expect strong first quarter performance in 2013, according to John Keells Ltd, a leading tea broker in the country.

Extending the measures to liberalize the foreign exchange market in Sri Lanka, the Net Open Position (NOP) limit, which is the open dollar position of licensed commercial banks (LCBs), was increased as a whole (banking industry) by as much as 85 perc

The National Chamber of Exporters of Sri Lanka organized an 11-member business delegation to Myanmar last December. The delegation visited Yangon in Myanmar on the 19th and returned after a successful 4-day fact finding mission. The delegation was le

Sri Lanka’s tea industry concluded 2012 with mixed fortunes with higher rupee values being obtained at auctions despite notably lowered volumes on the supply side, according to Executive Director, Ceylon Tea Brokers, Waruna de Silva.

Rubber prices showed slight improvements during the first auction for the year 2013, boosted by recovering demand in Japan and other regional markets.

The Treasury yields fell across all maturities at the first auction held in the year 2013, for the reissue of Rs.20 billion maturing bills.

Sri Lanka’s debt to Gross Domestic Product (GDP) increased to 81 percent in 2012 from 78 percent in 2011 due to rupee depreciation, Central Bank Governor Ajith Nivard Cabraal said, presenting the Monetary Road Map for 2013.

With the view of promoting Sri Lanka as a popular tourist destination, Sri Lanka Tourism Promotion Bureau(SLTPB) organized a familiarization tour for 14 leading travel agents from China, together with Malaysian Airlines.

United National Party (UNP) MP Dr. Harsha de Silva has called for a realistic Monetary Policy Road Map for the year 2013 (that is to be presented today), as opposed to an unrealistic and unsustainable one presented last year.

The Sri Lankan government is likely to overshoot yet another overambitious fiscal deficit target of 5.8 percent of the GDP, set out in the 2013 Budget to reach not below 6.5 percent, due to the overly optimistic revenue assumptions, according to a Ge

Sri Lanka’s year-on-year (YoY) inflation in December eased to 9.2 percent from 9.5 percent in November, the data released by the Department of Census and Statistics showed.

Sri Lanka’s export earnings fell 6.6 percent Year-on-Year (YoY) to US $ 827.6 million in November 2012 despite a 4.6 percent YoY rise in earnings from textile and garment exports, the data released by the Central Bank showed.

Sri Lanka Tourism Promotion Bureau (SLTPB) has launched a promotional campaign in Australia, in parallel to the National Cricket Team’s tour to Australia, in a bid to attract a slice out of the growing Australian travelers.

Sri Lanka’s full year real GDP growth forecast for 2013 was downgraded to 5.4 percent from the previous projected 5.9 percent, implying that the ongoing slowdown is to intensify in first half of 2013, before growth starts to pick up in the seco

The country’s war ravaged Northern Province has recorded the highest growth rate in 2011, improving its rank to sixth position from ninth in a prosperity index calculated by the Central Bank.

Two All-Time Record Prices were established by John Keells PLC at the Tea Auction on December 12 for PF1 and DUST1 grade.

The Sri Lanka Ports Authority (SLPA) may call for tenders to develop the West Container Terminal of the Colombo port in the near future, according to its Chairman Dr. Priyath B.Wicrakama.

LankaCom launched its Internet Protocol Television (IPTV) in-room entertainment solution for the Sri Lanka’s hospitality sector recently. The LankaCom IPTV system, developed by SingTel, offers hoteliers a more cost effective and highly customi